Crowdfunding in the Wine Industry

2018 ◽  
Vol 13 (1) ◽  
pp. 57-82 ◽  
Author(s):  
Olivier Bargain ◽  
Jean-Marie Cardebat ◽  
Alexandra Vignolles
Keyword(s):  
Intrinsic Motivation ◽  
New Ventures ◽  
Wine Industry ◽  
The Internet ◽  
Investment Good ◽  
Wine Consumption ◽  
Voluntary Contribution ◽  
Original Survey ◽  
Funding Opportunities ◽  
Jel Classifications

AbstractCrowdfunding has recently emerged as a novel way of financing new ventures. It coincides with a growing interest in wine as an investment good and with a search for new funding opportunities by wine makers. In this study, we examine potential investors willing to engage in wine crowdfunded projects and the kind of revenue that would attract them. We presented an original survey where respondents were asked about their wine consumption and purchase, their knowledge about crowdfunding, their relation to the internet, their investment and project related to wine crowdfunding, and their expectations concerning the returns from this type of contribution. Our results suggest that among all forms of crowdfunding, the donation/voluntary contribution side driven by intrinsic motivation is likely to remain marginal compared to crowdfunding as an investment or a form of early purchase. (JEL Classifications: G11, G12, G21, L17, L66)

Criteria for Accrediting Expert Wine Judges

2013 ◽  
Vol 9 (1) ◽  
pp. 62-74 ◽  
Author(s):  
Robert Hodgson ◽  
Jing Cao
Keyword(s):  
Probability Distribution ◽  
Wine Industry ◽  
Ordinal Scale ◽  
Professional Experience ◽  
Wine Quality ◽  
Basic Premise ◽  
Definition Of ◽  
Jel Classifications

AbstractA test for evaluating wine judge performance is developed. The test is based on the premise that an expert wine judge will award similar scores to an identical wine. The definition of “similar” is parameterized to include varying numbers of adjacent awards on an ordinal scale, from No Award to Gold. For each index of similarity, a probability distribution is developed to determine the likelihood that a judge might pass the test by chance alone. When the test is applied to the results from a major wine competition, few judges pass the test. Of greater interest is that many judges who fail the test have vast professional experience in the wine industry. This leads to us to question the basic premise that experts are able to provide consistent evaluations in wine competitions and, hence, that wine competitions do not provide reliable recommendations of wine quality. (JEL Classifications: C02, C12, D81)

Are winemaker consultants just another source of knowledge for innovation?

2017 ◽  
Vol 21 (6) ◽  
pp. 1523-1539 ◽  
Author(s):  
David Doloreux ◽  
Ekaterina Turkina
Keyword(s):  
Positive Influence ◽  
Wine Industry ◽  
Computer Assisted ◽  
Knowledge Sources ◽  
Content Type ◽  
External Knowledge ◽  
Telephone Interviews ◽  
External Sources ◽  
Original Survey ◽  
External Sources Of Knowledge

Purpose This paper aims to explore the effects of multiple external sources of knowledge and of the use of winemaker consultants on innovation in the Canadian wine industry. Design/methodology/approach The data for the study are taken from an original survey of wine firms in Canada covering the 2007-2009 period. The survey was carried out by computer-assisted telephone interviews, and it was addressed to winery firms that are engaged in growing grapes and producing wine. Findings The results show that the use of winemaker consultants positively affects all forms of innovation. At the same, as far as external knowledge sources are concerned, marketing sources positively affect all types of innovation, while research sources and general sources have a positive influence on particular forms of innovation. The results also show that winemaker consultants interact with other knowledge sources. Nevertheless, there are important nuances with regard to which type of knowledge sources is more compatible with the use of winemaker consultants for which type of innovation. Originality/value To date, there is no empirical evidence of the extent to which the use of external winemaker consultants and external knowledge sources interact together and what are their impacts on the introduction of different forms of innovation.

scholarly journals Wine market potential in Ukraine

Ekonomika APK ◽  
2020 ◽  
Vol 311 (9) ◽  
pp. 17-29
Author(s):  
Volodymyr Rossokha ◽  
Oleksandr Petrychenko
Keyword(s):  
Supply And Demand ◽  
Domestic Market ◽  
Market Potential ◽  
European Countries ◽  
Wine Industry ◽  
Raw Material ◽  
Wine Consumption ◽  
Production And Consumption ◽  
Per Capita ◽  
Wine Market

The purpose of the article is to carry out a comprehensive analysis of the raw material market of wine products, production and distribution of wine through sales channels, opportunities and restrictions on the sale of wine in domestic and foreign markets; to determine the state and potential volumes of wine consumption in Ukraine; to elaborate ways and directions of development of production and consumer potential of the domestic wine market to ensure supply and demand formation. Research methods includes an abstract-logical method to substantiate the production and consumer potential of the market; analysis and synthesis – to establish the size of the area, yield, gross harvest, processing of grapes into wine materials, range of products, geography of export and import and wine consumption; economical and statistical and balance methods – for identifying trends and patterns of production and factors influencing the market of wine products, imbalances in the production and consumption of wine in the domestic market; comparative and calculation-constructive methods – to compare the levels of wine consumption in Ukraine and EU countries and substantiation of the consumer potential of the wine market in Ukraine; standard-cost method - for determining the amount of investment in the raw material base of the wine industry to develop production capacity and ensure supply in the wine market. Research results. Analysis of the market dynamics in the segments of grape growing and processing, the nomenclature of production, distribution and consumption of wine showed the discrepancy between the supply of raw materials on the market for loading the capacity of wineries, accompanied by the filling the domestic market with imported products. The ratio of wine exports to imports, production volumes to exports and imports, the share of domestic production and imports in the consumption fund and per capita has been established. The capacity of the domestic market for wine consumption in Ukraine at the level of European countries and the amount of investment to ensure its supply of wine products is determined. The ways and directions of development of production and consumer potential of the domestic wine market are outlined. Scientific novelty. The disproportions in the production and consumption of wine in the domestic market, the differences in the consumption of wine per capita in Ukraine and European countries are grounded. The production and consumer potentials of the domestic wine market have been determined. The volumes of investments, ways and directions of development of the production and consumer potential of the market for the interaction of supply and demand have been established. Practical significance. The investigated trends in the development of the production and consumer potential of the wine market serve as a guideline for making rational management decisions on the choice of ways and directions for increasing production and domestic consumption of products of the wine industry.

scholarly journals Masters of Wine on Twitter: presence, activity, impact and community structure

2021 ◽  
Vol 10 (1) ◽  
pp. 73-88
Author(s):  
Enrique Orduña-Malea ◽  
Cristina I. Font-Julian ◽  
José Antonio Ontalba-Ruipérez ◽  
Raúl Compés-López
Keyword(s):  
Social Media ◽  
International Trade ◽  
Community Structure ◽  
Descriptive Statistics ◽  
Wine Industry ◽  
The Internet ◽  
The World ◽  
Credible Information ◽  
Do So ◽  
The Way

Globalisation, the Internet and social media have changed the kind of actors with influence in the wine industry and the way these actors create signals to communicate credible information about experience and trust attributes. Among the most prestigious experts in the world of wine are the Masters of Wine (MW). Although initially devoted to international trade, they have spread their activities and their opinion is more and more appreciated by producers and consumers. The main objective of this article is to determine this community of experts’ behaviour on Twitter. In order to do so, four factors (presence, activity, impact and community) have been considered. All Twitter profiles belonging to users awarded with the MW qualification were identified and analysed. In addition, a set of 35,653 tweets published by the MWs were retrieved and analysed through descriptive statistics. The results show MWs on Twitter as high attractors (number of followers), moderate publishers (original contents published), moderate influencers (number of likes and retweets), and low interactors (number of friends and mentions to other users). These findings reveal that the MW community is not using Twitter to gain or reinforce their reputation as an accredited expert in the wine industry, giving more influential space on Twitter to consumers and amateurs.

scholarly journals Marketing analysis of the Villány wine region

2014 ◽  
pp. 119-123
Author(s):  
Klára Törökné Kiss
Keyword(s):  
Wine Industry ◽  
Natural Conditions ◽  
Wine Production ◽  
Wine Consumption ◽  
The Future ◽  
Marketing Analysis ◽  
Wine Region

Hungarian wine is not in such a bad position as it is considered. We have outstanding specialists and the country’s natural conditions are also proper. In Hungary, there are wine production and wine consumption has a major traditions. The role of marketing in our wine industry is growing more and more, and this trend is expected to continue in the future. The development of tourism in wine-growing regions and advertising would considerably promote the popularity of Hungarian wine.

Entrepreneurship in the Internet

2011 ◽  
pp. 1405-1411 ◽  
Author(s):  
Christian Serarols-Tarrés
Keyword(s):  
Information Technologies ◽  
New Ventures ◽  
Distribution Channel ◽  
The Internet ◽  
Venture Creation ◽  
Creation Process ◽  
Theoretical Perspectives ◽  
History Of ◽  
The Creation ◽  
The One

The increasing development of information technologies (IT) has significantly affected both firms and markets. IT is currently changing the world in a more permanent and far-reaching way than any other technology in the history of mankind (Carrier, Raymond, & Eltaief, 2004). A new economy, where knowledge is the most important strategic resource, is forcing firms to review their traditional routines and take advantage of the tools able to create new value. Nowadays, there are two types of firms using this new IT. On the one hand, firms with physical presence (traditional companies) use the Internet as a new distribution channel or alternatively as a logical extension of their traditional business. On the other hand, there are dotcoms, Internet start-ups, or cybertraders (European Commission, 1997), which have been specifically conceived to operate in this new environment. A number of scholars have attempted to explain the creation of new ventures from many different theoretical perspectives (economics, psychology, and population ecology among others) and have also offered frameworks for exploring the characteristics of the creation process (Bhave, 1994; Carter, Gartner, & Reynolds, 1996; Gartner, 1985; Shook, Priem, & McGee, 2003; Veciana, 1988; Vesper, 1990; Webster, 1976). However, despite the growing literature in this area, few studies have explored the process of venture creation in dotcom firms. Cyberentrepreneurship is still in its emergent phase, and there is more to know about the phenomenon and the elements of the venture creation process (Carrier et al., 2004; Jiwa, Lavelle, & Rose, 2004; Martin & Wright, 2005). What are the stages they follow to create their firms? This article attempts to answer this question. First, we analyse the entrepreneurial process of a new firm’s creation. Second, we shed some light on how this process is applied by cyberentrepreneurs in starting their businesses based on an in-depth, multiple case study of eight entrepreneurs in Spain.

scholarly journals Cycling the Smart and Sustainable City: Analyzing EC Policy Documents on Internet of Things, Mobility and Transport, and Smart Cities

2019 ◽  
Vol 11 (3) ◽  
pp. 763 ◽  
Author(s):  
Frauke Behrendt
Keyword(s):  
Internet Of Things ◽  
Smart Cities ◽  
Future Research ◽  
The Internet ◽  
Policy Documents ◽  
Smart Vehicles ◽  
Policy Debates ◽  
Autonomous Cars ◽  
Funding Opportunities ◽  
The Internet Of Things

This article asks how cycling, a sustainable form of urban mobility, is discussed in the context of smart cities and the Internet of Things in European Commission (EC) policy documents, and how this compares to discussions around cars. Sustainable forms of transport, such as cycling, are a key issue for cities across the globe, including smart cities, while transport is increasingly becoming part of the Internet of Things (IoT). This article contributes to an understanding of how cars and bicycles are discussed in this context. To do so, 39 relevant EC policy documents (2014–2018) were identified and examined through keyword searches and rigorous document analysis. The results show how the vast majority of policy discussions in this area revolve around cars (including autonomous cars and smart vehicles), while cycling is hardly considered, with a strong affinity between IoT and cars. In addition, recent EC policy debates take place more around IoT than around Smart Cities, while sustainability is not considered much in the IoT context. The conclusion highlights the implications of sustainable urban modes of transport such as cycling being absent from IoT/smart debates, including lack of policy visibility and funding opportunities, underlining the significance of this research, and it also makes policy suggestions for addressing these issues and for future research.

An Analysis of Wine Critic Consensus: A Study of Washington and California Wines

2015 ◽  
Vol 10 (1) ◽  
pp. 47-61 ◽  
Author(s):  
Eric T. Stuen ◽  
Jon R. Miller ◽  
Robert W. Stone
Keyword(s):  
Correlation Coefficient ◽  
Expert Judgment ◽  
Point Scale ◽  
Wine Consumption ◽  
Quality Ratings ◽  
Intraclass Correlations ◽  
Using Data ◽  
High Level ◽  
Jel Classifications

AbstractWe examine the degree of consensus in quality ratings of prominent U.S. wine publications. For the purposes of wine consumption and research, are ratings on the ubiquitous 100-point scale reliable measures of quality? The value of expert judgment has been called into question by a number of studies, especially in the context of wine competitions and tasting events. Using data on 853 wines, we find a moderately high level of consensus, measured by the correlation coefficient, between most pairs of publications, similar to the level found by Ashton (2013). Rank and intraclass correlations are similar. Consensus is not found to be related to the blinding policies (or lack thereof) of the critical publications. (JEL Classifications: C93, D46)

scholarly journals The Internet of Things - the Nearest Future of Viticulture

2021 ◽  
Vol 13 (2) ◽  
pp. 79-86
Author(s):  
Ekaterina Kudryashova ◽  
Michele Casetti
Keyword(s):  
Internet Of Things ◽  
Wine Industry ◽  
The Internet ◽  
Strategic Decisions ◽  
Food And Agriculture ◽  
Food And Agriculture Organization ◽  
Production And Consumption ◽  
Wine Sector ◽  
Internet Of Things Technology ◽  
The Internet Of Things

It is recognized that viticulture and wine sector in general successfully combines traditions and innovations. The Internet of Things technology has already found its way to the vineyards as a prospective innovation. The innovations in wine industry are discussed in the publications, however, IoT not so often falls within the focus. In order to show the production and consumption trends in viticulture we rely mostly on the data accumulated by the International Organization of Vine and Wine. Some analytical materials of Food and Agriculture Organization of the United Nations were also relevant for this study. The information about implementation of Internet of Things is quite fragmentated by now and was collected from different sources. At least two drivers of Internet of Things in viticulture could be mentioned. The first is the climate change and the need to respond to its challenges by wine growers. Technology helps to detect the changes and suggest the best and timely solutions. The second reason why the IoT has prospective in wine sector follows from the characteristics of wine and its consumption trends. There are quite a few strategic decisions to be taken by wine producer and consumers related to wine. These strategic decisions need to be based on a precise data accumulation and processing. The Internet of things is relevant for the decisions of storage, sales, ratings, and collectibles. The range of end-users of the data processing is wide enough in the wine sector. The Internet of Things is already reality of viticulture and it has prospective to develop further. This paper argues that viticulture is a readily open for the IoT and there is a field for IoT implementation in there.

scholarly journals The German Wine Market: A Comprehensive Strategic and Economic Analysis

Beverages ◽  
2018 ◽  
Vol 4 (4) ◽  
pp. 92 ◽  
Author(s):  
Marc Dressler
Keyword(s):  
Success Factors ◽  
Structural Changes ◽  
Wine Industry ◽  
Sparkling Wine ◽  
Relevant Market ◽  
German Market ◽  
Market Growth ◽  
Wine Consumption ◽  
Wine Market ◽  
World Champion

Even though it is famous for beer, Germany offers one of the most attractive wine markets, exemplified by being the fourth biggest wine consumption market and a world champion in sparkling wine consumption as well as in wine imports. Still, fragmentation, intensive competition, lack of growth, and a changing environment speak to a challenging market for suppliers. In the absence of a comprehensive investigation on the market, this article aspires to deliver an economic and strategic market analysis. The statistical data is therefore complemented by the primary market research, notably online surveys on strategy and innovation, a proprietary database on wineries’ reputation, and an international expert survey on export success factors. The following market study aims to provide a concise overview covering the relevant market data, and to disclose strategic information about the German wine industry beyond pure market statistics. The German wine market, in the stable wine volume sold, shows dynamism underneath “the tip of the iceberg”, with industry specific environmental forces. Indeed, as the wine industry deals with agricultural products of a high emotional utility, players need to address the world of commodities and of differentiation. Structural changes are visible in the drive-out of players. Moreover, diverse and even restricting environmental factors motivate supplier´s innovation. The key is the changing consumer. Adaptive and innovative suppliers seize market opportunities and expand, despite a lack of market growth. Although the overall price level of wine in the German market is comparatively low, a voluminous premium market exists, where consumers search for experience. Sustainability has been gaining ground, and in cases of appealing offerings and strategic profiling, wineries outperform intensive rivalries and are not limited by missing growth perspectives. Expenditures for marketing will further increase, and cost management is indispensable. Success in the German wine business requires an in-depth knowledge of the complex market and its evolution.

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