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WINE GENERAL > EXAM OPERATIONAL MANAGEMENT (M9) > Flashcards

EXAM OPERATIONAL MANAGEMENT (M9) Flashcards

1
Q

Which two French labeling terms fall under the eu PGI (Protected Geographical Indication) label?

A

IGT (Indication Géographique Protégée)
VdP (Vin de Pays)

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2
Q

What is the maximum bottle format of DOC or DOCG?

A

5L

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3
Q

What was the only classified ‘outstanding A’ wine in Australia in 1991?

A

Penfolds Grange Shiraz

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4
Q

What are the 3 new terms to indicate origin in Chile?

A

Costa
Entre Cordilleras
Andes

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5
Q

What is the main difference of classification between Bordeaux, Burgundy and Alsace?

A

Bordeaux: based on estate
Burgundy: based on terroir
Alsace: based on grape variety

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6
Q

What are the top 5 main wine producing countries (2019?)

A
  1. Italy
  2. France
  3. Spain
  4. USA
  5. Argentina
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7
Q

What are the top 3 countries in amount of ha under vine (also table grapes)

A
  1. Spain
  2. China
  3. France
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8
Q

What is te estimated % of worlds wine production that gets exported?

A

44%

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9
Q

What is the newest innovation in terms of bulk wine export?

A

Flexitank

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10
Q

Name 5 recent events that thread the international wine trade

A

War
Brexit
Corona virus
Commercial war - import taxes
Downfall general alcohol consumption

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11
Q

Name a few consumer trends on the rise

A

Dry white
Foreign wines
Original wines
Fruity, easy drinking wines
Artisanal wines
Wine on ice
Wine in cocktails
Wines by the glass
Original labels

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12
Q

What do we mean with ‘competitiveness’ in wine industry?

A

It’s ability to occupy a strong position in a market and to face actual or potential competition (Technical-, Economic-, Marketing factors)

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13
Q

Which factors contribute to competitiveness?

A

Country health
Succes in domestic and foreign market
Natural conditions
Vineyard production power
Quality and diversity of the wines
Production cost
Structuring/coordination
Capacity to adapt
Capacity to build brands

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14
Q

How much % take the courtier / negotiant / cavist on the original bottle price?

A

Courtier: 2%
Négociant: 18%
Caviste: 200-300%

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15
Q

Name two different approaches of determining the selling price

A

From a production perspective (what is the production price and the margin that we need to make = selling price)
From consumer perspective (what is a good price for the consumer regarding reputation/quality etc = selling price)

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16
Q

Argue why the consumer sets the sale price and not te producer

A

Because the consumer needs to want to buy it. If the wine is not put into the right market it will never get sold. So think about consumer needs and wishes is a requirement

17
Q

Give the breakdown of production costs:

A

Vineyard cost
Vinification and ageing cost
Botteling cost
Marketing cost
General cost (electricity/water/rent etc)

18
Q

Why do marketing? (3)

A

New consumers
New markets
New trends (every 10 years)

19
Q

Name 8 aspects what can influence a buyer to buy a specific bottle (product perspective)

A

Price
Brand
Blend
Origin
Packaging
Type
Trend
Availability

20
Q

With what specifics can you describe a consumer?

A

Age
Origin
Social group
Habits
Buying power (willingness to buy)

21
Q

What tis the marketing mix? (4x P)

A

Product
Price
Place
Promotion

22
Q

What do we call the silent seller in wine?

A

The bottle packaging = first communication tool! (goal to attract and give information

23
Q

How would you describe the P of Promotion in the marketing mix?

A

The communication to promote the act of purchase

24
Q

Give examples of media communication vs non-media communication

A

Media: avertising/radio/posters/website etc
Non-Media: events/fairs/tastings/objects/relationships

25
Q

Name 5 examples of ‘new’ communication tools

A

Influencers: famous people / YouTubers etc
Social networks: next to having a website
Mass media: glossaries
Wine contests: medals
Wine guides: Parker etc

26
Q

What can be reasons for a wine not to sell?

A

Faulty wines
Unsuitable to consumer tastte
Not original
Unknown
Wrong market

27
Q

What is marketing?

A

Research to consumer behaviour
Helps shape public perception of the product
Maintains relationships with consumer
Motivates consumer to buy

28
Q

Name the 3 steps of marketing

A

Market segmentation (identification)
Market positioning (strategy)
Marketing mix (operational plan)

29
Q

What is the most important P. Give examples

A

Product! Color, grape variety/ blend, vinification, style, packaging, brand etc

30
Q

Why do you need accounting?

A

Because you want to know:
Which products are succesfull
Which business decisions were effective
Financial status of the company

31
Q

Give the 3 parts of a balance sheet

A

Assets/actif (ressources, investments, stock)
Liabilities/passif (financial obligations)
Equity Amount of money that a company must return to its shareholders if liquidated

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