Course overview
This course provides students with insights into the nature and complexities of the world's wine markets. Students will analyse the impact of globalisation on the wine industry. The course will enable students to assess the relative attractiveness of the Australian and various countries' wine markets, understanding their differences and factors effecting profitability. This course examines key drivers in the world wine market and their impact on wine export dynamics and characteristics. Students will understand the importance of matching the wine offering and business capability, with wine market opportunity on specifying the market entry, and distribution strategies required to generate profitable export sales.
Course learning outcomes
- Identify and analyse the impact of external environment factors, including globalisation, regulation and exchange rates, on the competitiveness of wine producing countries and on the potential wine business profitability of individual wine markets.
- Determine the differential sales and profitability potential of local and international wine markets.
- Identify and interpret the role of cultural issues influencing wine demand and design culturally responsive wine business strategies for different wine markets.
- Determine the wine markets that best match the sales and profitability objectives, risk appetite and capabilities of an individual wine business.
- Plan and specify market entry strategies that uniquely address the specific trade, consumer and structural parameters of each international wine market.
- Develop marketing strategies to achieve the corporate, branding and sales objectives for each local and international market.