Free DipWSET D2: Wine Business Flashcards
DECK Number 10
Instructions before starting:
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
GOOD LUCK!!
[qdeck]
[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]
[/qdeck]
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