This topic explores the domestic (Australian) wine and craft spirits markets as well as key international markets, i.e. those that are leading importers wine (UK, USA, China and other emerging such as India) and the growing export markets for craft spirits. Students are provided with valuable insights into different market structures and variabilities and how these potentially effect profitability. Hence, market attributes are evaluated on both macro levels, and more micro levels with individual firm capabilities and business goals included.
This topic aims to provide students with an understanding of how the wine and craft spirit market operates (with respect to regulatory, economic and retailing aspects) both locally and internationally. It will allow students to gain insight into key special markets such as monopolies and quasi-monopolies; the overarching wine marketing system, including importers, retailing, e-commerce, cellar door sales and wine tourism and how those consuming and purchasing wine and craft spirits behave with respect to taste preferences, presentation (bottle design), traditions, general preferences as well as the trends in international wine markets.
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