Free DipWSET D2: Wine Business Flashcards (Deck 10)

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[h] DipWSET D2 SET 10

[i] DipWSET D2 – Wine Business Flashcards

SET 10

I RECOMMEND YOU LEAVE THE CARDS IN THE INITIAL ORDER AND USE THE “SHUFFLE” OPTION ONLY WHEN YOU MASTER THE WHOLE DECK (= 0 MISTAKE)

– Read the Term on the Card and give your answer
– Click on “Check the Answer” button to check your knowledge
– Click on “Got It!” if your answer was correct
– Click on “Need more practice” to review the card at the end of the deck and try answering another time
– Click on “Shuffle” button to change cards order

[start]

[q unit=”2″ topic=”10″] THE 6 CATEGORIES OF POINT OF SALE PROMOTION

[a] 1- PRICE PROMOTIONS

2- COMPETITIONS

3- LIMITED EDITION PACKAGING

4- CONSUMER TASTINGS

5- STAFF INCENTIVE

6- STAFF TRAINING

[q unit=”2″ topic=”10″] 2 EXAMPLES COMPETITIONS
(point of sale promotion)

[a] 1- A CHANCE TO ENTER A DRAW

2- WIN A MERCHANDISE

[q unit=”2″ topic=”10″] OPPORTUNITY OFFERED BY COMPETITIONS
(point of sale promotion)

[a] COLLECTING CUSTOMERS’ CONTACT DETAILS

[q unit=”2″ topic=”10″] ADVANTAGE OF LIMITED EDITION PACKAGING

[a] CONTRIBUTE TO LUXURY BRAND IMAGE

[q unit=”2″ topic=”10″] LIMIT OF LIMITED EDITION PACKAGING

[a] DOES NOT INCREASE SALES OVER THE LONG TERM
(no long term effects)

[q unit=”2″ topic=”10″] ADVANTAGES OF ORGANIZING CONSUMER TASTINGS

[a] 1- OPPORTUNITY TO INTRODUCE NEW PRODUCTS / NEW VINTAGES

2- CAN INCREASE SALES

3- LOW INVOLVEMENT CUSTOMERS MORE LIKELY TO BUY

[q unit=”2″ topic=”10″] 3 TYPES OF CONSUMER TASTINGS
(examples)

[a] 1- IN-STORE TASTINGS

2- PRODUCER TASTINGS

3- WINE TASTING DINNERS

[q unit=”2″ topic=”10″] STAFF INCENTIVES
(point of sale promotion)

[a] SELL MORE OF A PARTICULAR PRODUCT
(receive bonuses linked to the level of sales of given products)

[q unit=”2″ topic=”10″] RISK ASSOCIATED WITH STAFF INCENTIVES
(point of sale promotion)

[a] IS CONSIDERED ILLEGAL IN SOME COUNTRIES (China) BECAUSE IT IS CONSIDERED AS BRIBERY & UNFAIR COMPETITION

[q unit=”2″ topic=”10″] STAFF TRAINING
(point of sale promotion)

[a] 1- CAN BE PROVIDED BY RETAILER / DISTRIBUTOR / PRODUCER

2- BENEFITS
– promote a product with confidence, enthusiasm
– enable story telling
– contribute to brand image

3- WORKS WELL WHEN
personal contact between employee & customers

[q unit=”2″ topic=”10″] PROMOTION AWAY FROM THE POINT OF SALES
(14 options)

[a] 1- TV / CINEMA
2- RADIO
3- PRESS
4- BILLBOARDS
5- DIGITAL ADS / ONLINE
6- SOCIAL MEDIA
7- WEBSITES
8- SMARTPHONE APPS
9- REVIEWS & REWARDS
10- WINE TOURISM
11- PUBLIC RELATIONS
12- SPONSORSHIPS
13- EVENTS & FESTIVALS
14- FREE MERCHANDISE

[q unit=”2″ topic=”10″] ADVERTISING CAMPAIGNS
(general characteristics)

[a] 1- CAN BE VERY EXPENSIVE

2- USE THE SERVICE OF AN ADVERTISING AGENCY TO DESIGN THE CAMPAIGN

3- ENSURE NOTHING MIGHT OFFEND OTHER CULTURES
(translation…)

[q unit=”2″ topic=”10″] SPECIFIC INTERNATIONAL ADVERTISEMENTS

[a] 1- DELIVER GLOBAL BRAND MESSAGE

2- USED INTERNATIONALLY WITHOUT CHANGES

[q unit=”2″ topic=”10″] 2 EXAMPLES OF COUNTRIES WHERE LAWS RESTRICT WINE ADVERTISING

[a] 1- UAE + QATAR = TOTAL PROHIBITION

2- FRANCE = LOI EVIN

[q unit=”2″ topic=”10″] RADIO
(promotion away from point of sale

[a] 1- LESS EFFECTIVE THAN TV / CINEMA

2- LESS EXPENSIVE

3- LACK OF IMAGES MAKE THEM LESS MEMORABLE

[q unit=”2″ topic=”10″] PRESS ADVERTISING
(promotion away from point of sale

[a] OPTION 1- STRIKING FULL PAGE IMAGE WITH LITTLE OR NO TEXT

OPTION 2- PAY RESPECTED WINE WRITERS TO WRITE ARTICLE

– ALLOWS TO PLACE ADVERT IN THE RIGHT PRINT MEDIA
TO REACH TARGETED AUDIENCE

– LOWER COSTS

[q unit=”2″ topic=”10″] TELEVISION / CINEMA
(promotion away from point of sale)

[a] 1- POWERFUL

2- VERY EXPENSIVE
(large marketing budgets)

3- REACH THE LARGEST NUMBER OF PEOPLE

[q unit=”2″ topic=”10″] BILLBOARDS
(promotion away from point of sale

[a] 1- OFTEN ON SIDES OF ROADS

2- STRIKING MEMORABLE IMAGE

3- SHORT & SIMPLE MESSAGE

4- POSTERS AT BUS STOPS & RAILWAY STATIONS
= allow a more detailed message

[q unit=”2″ topic=”10″] DIGITAL ADVERTISING / ONLINE PLATFORMS
(promotion away from point of sale

[a] 1- CHEAP

2- REACH LARGE / GLOBAL AUDIENCE

3- ADVERT ON ANOTHER WEBSITE

4- ADVERT ON SOCIAL MEDIA

[q unit=”2″ topic=”10″] SOCIAL MEDIA
(promotion away from point of sale

[a] 1- THE FIRST TIME IT IS POSSIBLE TO HAVE A DIRECT DIALOGUE WITH CUSTOMERS RATHER THAN TALKING TO THEM

2- IMPORTANT FOR YOUNGER CUSTOMERS

3- NEGATIVE REVIEWS / PUBLICITY = CAN BE VERY DESTRUCTIVE

[q unit=”2″ topic=”10″] 2 WAYS OF USING SOCIAL MEDIA

[a] 1- PROMOTIONAL ACTIVITIES
(adverts…)

2- NON PROMOTIONAL ACTIVITIES = EQUALLY IMPORTANT
(news, events, share photos & videos…)

IF ONLY USED FOR PROMOTIONAL ACTIVITIES IT WILL ALIENATE CUSTOMERS

[q unit=”2″ topic=”10″] TRENDS IN THE USE OF SOCIAL MEDIA

[a] 1- YOUNGER AUDIENCE TURN AWAY FROM TWITTER & FACEBOOK

2- PREFER YOUTUBE & INSTAGRAM

3- PEER REVIEWS ARE IMPORTANT

4- COMPANIES WILL MAKE IT EASIER FOR CUSTOMERS TO SHARE THEIR EXPERIENCE

[q unit=”2″ topic=”10″] WEBSITES
(promotion away from point of sale)

[a] 1- SHARE INFOS, PHOTOS, VIDEOS…

2- SHARE DETAILS ABOUT WINES

3- ALLOW STORY TELLING

4- CAN OFFER ONLINE SHOPS

5- COMMUNICATE ON FUTURE EVENTS

6- SUGGEST FOOD & WINE PAIRINGS

[q unit=”2″ topic=”10″] WEBSITES MUST BE

[a] 1- USER-FRIENDLY

2- SECURED

3- UP-TO-DATE

4- CONSISTENT WITH MARKETING STRATEGY

[q unit=”2″ topic=”10″] DOWNSIDE OF WEBSITES

[a] 1- PERSONALIZED SITE = COSTLY

2- COST OF MAINTENANCE

3- PEOPLE RARELY GO BEYOND FIRST COUPLE
OF PAGES ON SEARCH ENGINES

4- CAN BE ACCESS BY PEOPLE BELOW DRINKING AGE

[q unit=”2″ topic=”10″] SMARTPHONE APPS
(promotion away from point of sale)

[a] 1- FIND / READ ABOUT / LEAVE COMMENTS & REVIEWS ON WINES

2- MANAGE PERSONAL CELLARS

3- SHOPS SHARE THEIR UP-TO-DATE STOCKS

[q unit=”2″ topic=”10″] REVIEWS & AWARDS
(promotion away from point of sale)

[a] 1- FAVOURABLE REVIEW & HIGH SCORE BY RESPECTED CRITICS
= CAN SIGNIFICANTLY BOOST SALES

2- WINE COMPETITIONS

3- MEDALS & AWARDS CAN BE USED FOR PROMOTIONAL PURPOSE
(possible to buy bottle stickers)

4- WILL INFLUENCE LARGE WINE BUYERS
(supermarkets…) 

[q unit=”2″ topic=”10″] 2 EXAMPLES OF FAMOUS INTERNATIONAL WINE COMPETITIONS

[a] 1- DECANTER WORLD WINE AWARDS

2- INTERNATIONAL WINE CHALLENGE

[q unit=”2″ topic=”10″] WINE TOURISM
(promotion away from point of sale)

[a] 1- OPPORTUNITY TO ENGAGE WITH THE PUBLIC

2- OFFER WINE TASTINGS = INCREASED LIKELYHOOD OF SALES

3- CAN OFFER OTHER SOPHISTICATED EXPERIENCE
(tours, casual dining, accomodation, special events, weddings,
fine dining…)

[q unit=”2″ topic=”10″] 2 EXAMPLES OF FAMOUS WINE TRAILS

[a] 1- NAPA VALLEY WINE TRAIL

2- ALSACE CYCLE ROUTES

[q unit=”2″ topic=”10″] HIGH INVOLVEMENT CUSTOMERS
vs.
LOW INVOLVEMENT CUSTOMERS
(regarding wine tourism habits)

[a] 1- HIGH INVOLVEMENT CUSTOMERS
= TRAVEL TO WINE REGIONS TO VISIT SPECIFIC WINERIES 
+ TASTE LOCAL FOOD

2- LOW INVOLVEMENT CUSTOMERS
= VISIT WINERIES BECAUSE THEY ARE NEARBY
(this segment should not be ignored because
it can make recommendations)

[q unit=”2″ topic=”10″] ADVERTISING
(definition)

[a] DRAW ATTENTION TO AND PROMOTE A SPECIFIC PRODUCT OR RANGE OF PRODUCTS

[q unit=”2″ topic=”10″] PUBLIC RELATIONS
(definition)

[a] AIM AT GIVING THE BUSINESS THE MOST FAVOURABLE IMAGE IN THE MIND OF ALL STACKHOLDERS, CUSTOMERS & BEYOND

[q unit=”2″ topic=”10″] PUBLIC RELATIONS
(promotion away from point of sale)

[a] 1- NOT THE SAME AS ADVERTISING

2- TYPE OF ACTIVITIES
– attend public events
– appear on tv/radio shows
– press release
– brand ambassadors

[q unit=”2″ topic=”10″] CSR
(definition)

[a] = CORPORATE SOCIAL RESPONSIBILITY

THE ENGAGEMENT BY A COMPANY TO GO BEYOND ITS PURE BUSINESS OBJECTIVES AND TAKE INTO ACCOUNT OTHER DIMENSIONS:
ENVIRONMENT, LABOUR RELATIONS…

[q unit=”2″ topic=”10″] STRONG CSR HELPS

[a] 1- IN CREATING A POSITIVE BRAND IMAGE

2- IN PUBLIC RELATIONS

[q unit=”2″ topic=”10″] KEY OPINION LEADERS
(characteristics)

[a] 1- HAVE LARGE / LOYAL FOLLOWERS

2- MAY BE HIRED TO CREATE HIGH QUALITY CONTENTS 
(on social media for instance)

3- POWERFUL BECAUSE
– peer reviews
– word of mouth

[q unit=”2″ topic=”10″] SPONSORSHIP
(promotion away from point of sale)

[a] 1- SPORTING EVENTS
– Mouton Cadet Ryder’s Cup
(controversy = healthy vs. alcohol)

2- CULTURAL EVENTS

3- TV PROGRAMMES

[q unit=”2″ topic=”10″] EVENTS & FESTIVALS
(promotion away from point of sale)

[a] 1- LIKELY TO ATTRACT HIGH INVOLVEMENT CUSTOMERS

2- ATTRACT BROAD RANGE OF CUSTOMERS

[q unit=”2″ topic=”10″] DISADVANTAGES OF EVENTS & FESTIVALS
(promotion away from point of sale)

[a] 1- ADDITIONAL COSTS
– additional staff
– pay to exhibit
– delivery costs
– stocks for samples
– preparing stands

2- COMPETING FOR ATTENDEES’ ATTENTION

3- MUST BE CAREFULLY MANAGED
(accident due to overdrinking)

[q unit=”2″ topic=”10″] FREE MERCHANDISE
(promotion away from point of sale)

[a] 1- VARIOUS PROMOTIONAL ITEMS OFFERED WITH SOLD PRODUCTS
(ice buckets, corkscrews…)

2- INCREASE BRAND AWARNESS

3- NOT ONLY IMPACT THE DIRECT CUSTOMER BUT ALSO HIS ENTOURAGE

[q unit=”2″ topic=”10″] IMPLEMENTING & MONITORING MARKETING STRATEGY
(key characteristics)

[a] 1- DYNAMIC PROCESS

2- NEED CONSTANT REVIEWS / CHECKS

3- MAKE ADJUSTMENTS NEEDED

4- ABANDON CAMPAIGN / PRODUCT IF NEEDED

5- USE INDICATORS TO HELP MONITOR
(profits, sales, market share…)

6- ORGANIZE OPPORTUNITIES TO RECEIVE FEEDBACKS
(focus groups…)

[q unit=”2″ topic=”10″] 3 MAIN OPTIONS TO CARRY A MARKETING CAMPAIGN

[a] 1- IN-HOUSE MARKETING TEAM

2- OUTSOURCE TO
– Public Relation Agency
– Advertising Firm

3- BECOME A MEMBER OF 
– Industry Association
– Generic Trade Body
– Informal Trade Group

[q unit=”2″ topic=”10″] 2 EXAMPLES OF WINE INDUSTRY ASSOCIATIONS

[a] 1- CONSORZIO (Italy)

2- VDP (Germany)

[q unit=”2″ topic=”10″] 2 EXAMPLES OF WINE “GENERIC TRADE BODIES”

[a] 1- WINES OF AUSTRALIA

2- WINES OF SOUTH AFRICA

[q unit=”2″ topic=”10″] EXAMPLE OF A WINE “INFORMAL TRADE GROUP“

[a] VIGNO (Chile)

[q unit=”2″ topic=”10″] MAIN CHARACTERISTICS OF GROUPED MARKETING EFFORTS

[a] 1- CHARGE MEMBERSHIP FEES

2- CHEAPER THAN EMPLOYING OWN MARKETING EXPERTS

[x] GOOD JOB!! [restart] Return to page view

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