Theory & Practical Application of Product Branding
Strong brands provide better competitive edges over their competitors. According to research of Wine Intelligence, brands are often ranked one of the top three consumer considerations when buying wine products. On the ultra premium spectrum, wine brand becomes the ultimate factor of the strength and success factor in the market. For instance, the same single grand cru plot Richebourg in Burgundy, Domaine de la Romanee-Conti often commands a up to 5 times more in price than other 10 competitors. That is a clear sign of strong brand value in terms of higher revenue and / or higher profit margin.
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