Year: 2007
Type: article
Abstract: while others simply sank. Marketing wine is information-intensive. Information moves with the product in every marketing step: sellers must find buyers or vice versa, sellers must describe the wine (shielded from sampling in its tightly sealed bottle), a price and other conditions must be posted or negotiated, and the winery and its customers must have proof of having agreed on an enforceable, legal sales contract. Advances in the technical efficiency of providing and communicating information may therefore reduce transaction costs and change the composition of total marketing costs for wine. Cost reductions from increased information efficiencies translate into an extended relevant market for any one winery, and into richer and more intensive communication between the winery and its customers. Moreover, changes in the composition of marketing costs may affect the competitiveness of sales channels, and new sales chan
Language: English
Topic: Wine Industry and Tourism
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2167653208