Australian wines in the British wine market: A hedonic price analysis
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Date
2004
Authors
Steiner, Bodo E.
Journal Title
Journal ISSN
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Publisher
Wiley Periodicals
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Abstract
The market share of New World wines sold in many European countries has increased dramatically over the past decade. More aggressive marketing, together with a more distinct and recognizable labeling scheme, are often regarded as the keys to the marketing success of these new wines. This article employs hedonic price analysis to identify the values that marketers and consumers place on the information carried by the label of Australian wines in the British wine retail market. Although many grape varieties are given a highly distinct valuation by market participants, our results also suggest that consumers consider regions jointly with grape varieties as proxies for brands. This contrasts with the general observation that grape varietal labeling is the distinctive feature of New World wines. Marketing implications are examined by considering the revenue impact of changes in labeling at the retail level.
Description
Keywords
Labelling , Wine , Australia , Product quality , Hedonic price analysis
Citation
Steiner, B. E. (2004), Australian wines in the British wine market: A hedonic price analysis. Agribusiness, 20: 287–307. doi: 10.1002/agr.20012
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Copyright
Copyright © 2004 Wiley Periodicals, Inc. This is the pre-peer reviewed version of the following article: Australian wines in the British wine market: A hedonic price analysis, Steiner, B. E., Agribusiness, 20(3): 287–307, Copyright © 2004 Wiley Periodicals, Inc. which has been published in final form http://onlinelibrary.wiley.com/doi/10.1002/agr.20012/abstract