During the last years there has been considerable empirical evidence that consumers, in pur- chasing a specic wine product, express a preference for certain attributes (color, bottle, region of origin, etc: : :) that are considered quality cues (signals) or proxies to infer the quality of the whole product. Thus, one of the main issues that need to be investigated is the wine price-quality relationship, which can be in uenced by many factors. This paper focuses on the determinants of wine prices and, more specically, analyses the relationship between wine guide ratings and price. This work is an explorative study carried out on a dataset of 94 label observations of Umbrian wines. In particular the impact of independent variables such as appellations, grapes and the score given by two important national wine guides, Gambero Rosso and Duemilavini, is taken into account. It emerges how wine critics and experts are important issues to be considered by entrepreneurs and manager. Specically it seems that the odds for receiving higher prices are greater if the high ratings are given by the Duemilavini wine guide, which represents the Italian association of sommelier.
Bulding wine reputation : an explorative study in Umbria
TORQUATI, Bianca Maria;TAGLIONI, CHIARA;
2013
Abstract
During the last years there has been considerable empirical evidence that consumers, in pur- chasing a specic wine product, express a preference for certain attributes (color, bottle, region of origin, etc: : :) that are considered quality cues (signals) or proxies to infer the quality of the whole product. Thus, one of the main issues that need to be investigated is the wine price-quality relationship, which can be in uenced by many factors. This paper focuses on the determinants of wine prices and, more specically, analyses the relationship between wine guide ratings and price. This work is an explorative study carried out on a dataset of 94 label observations of Umbrian wines. In particular the impact of independent variables such as appellations, grapes and the score given by two important national wine guides, Gambero Rosso and Duemilavini, is taken into account. It emerges how wine critics and experts are important issues to be considered by entrepreneurs and manager. Specically it seems that the odds for receiving higher prices are greater if the high ratings are given by the Duemilavini wine guide, which represents the Italian association of sommelier.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
