If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -Proceeding from the van Rensburg and Priilaid (''An econometric model for identifying value in South African red wine''valuation methodology mapping out the relationship between wine price and value, this paper seeks to explore the relationship between wine value and value-for-money. Design/methodology/approach -A series of regression models are developed from a database of some 537 South African red wines available during the 2004 period. Five cultivars are included here: cabernet, merlot pinotage, pinot noir, and shiraz. Findings -This research finds that successive increments in wine quality ratings are not equally priced. As a result, the relationship between value and price can be better modelled when increments in wine quality (as measured in stars) are proxied by dummy variables. Originality/value -Allowing for the possibility of the non-linear hedonic pricing of wine avoids the bias of value-for-money misleadingly being identified excessively at the bottom end of the quality spectrum and neglected at the top end.
Within the context of sighted wine appreciation, previous studies indicate that extrinsic cues like price and area-of-origin have a marked effect on the sighted ratings proffered by tasting experts. While these expert ratings are widely employed by the wine media as proxies of genuine quality, it remains uncertain whether such expert ratings, in turn, serve to influence the public in their own sighted assessments of wine quality. To determine the influence of the expert rating cue in the public’s sighted appreciation of wine, a tasting-room experiment was held in which 32 subjects assessed seven wines first blind and then sighted. During the sighted tasting the only (additional) cue-information made available was the expert rating conferred by the South African annual wine-guide known as John Platter. An interrogation of the resultant database of 224 paired blind and sighted wine assessments reveals the extent to which the expert rating cue consistently mediates the sighted appreciation of wine, this particularly within the younger, less experienced demographic. An examination of the meta-model’s driving coefficients suggests that in explaining sighted quality, expert ratings appear to operate at five times the strength of the original intrinsic (blind) assessment. For marketers, this finding suggests (1) that the promotion of this extrinsic cue be targeted more specifically at wine “novices”, and (2) that this narrowing of marketing focus implies a more judicious and effective employment of media budgets.
If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -Proceeding from studies that, at a general level, identify the extrinsic price cue as a mediator between a wine's perceived and intrinsic merit, the authors aim to report on a tasting-room experiment conducted to determine the impact of the price cue on sighted ratings across categories of gender, age, and relative experience. Design/methodology/approach -A total of 73 subjects assessed seven merlot wines, first blind and then sighted. During the sighted tasting, the only available cue-information was the price per bottle. The seven price points ranged from the cheap (R25) to the expensive (R160). Findings -Across all segmentations, the authors' analysis of sighted scores revealed the marked extent to which price effects demean the intrinsic merit of a wine. Older, more experienced and female strata appear to respond the most to price information; their respective model price effects are shown to increase by 57, 33 and 24 percent relative to their base comparators. Originality/value -These findings challenge the dogma that unbiased sighted assessments are best conducted by self-proclaimed wine experts who are older and more experienced; and suggest alternately, and perhaps heretically, that such assessments would be better conducted by younger, less experienced, non-experts.
Proceeding from work that identifies price as an extrinsic cue that can mediate between a wine’s perceived and intrinsic merit, the brand construct is presented as an additional potential mediator. Here we define (1) “functional” brands as representations of intrinsic (blind-tasted) quality, and (2) “symbolic” brands (as proxied by the difference between a wine’s intrinsic and extrinsic (sighted-tasted) evaluations) as placebos. Using a database of 8225 paired tastings (sighted and blind) of popular South African cultivars sampled over an eight year period, we control for contending price and vintage cues to identify the scale, character and distribution of a given set of functional and symbolic brand effects. Respectively these are identified as occurring in the frequency of roughly two-to-one. The 30 strongest of each are tabled. A subset of brands that present simultaneously as both functional and symbolic is further scrutinised. This set decomposes into two distinctive clusters located approximately one standard deviation left and right of the broader intrinsic mean. The smaller Zone of Symbolic Values is characterised by weak intrinsics and strong positive placebos. The second, larger Zone of Functional Values presents the opposite: negative placebos and strong functional intrinsics. Through the calibration and scaling of these brand-effects, wine producers can better understand what proportion of their product’s sight-driven appeal can ably be ascribed to a brand’s placebo as opposed to the underlying quality. Consequently their marketers may now more knowledgably amplify (or, where appropriate, down-play) the label-cue and adjust their wine marketing communication accordingly.
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