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Recently, I watched a presentation by Peter Yeung and Dr. Liz Thach in anticipation of reading their new book, Luxury Wine Marketing: The Art and Science of Luxury Wine Branding. Their book is based on extensive research on luxury products and wines specifically, and includes interviews with luxury wine producers, experts, and consumers alike.
I thought it would be helpful to give our readers some of the highlights and to compare their work with our own thoughts on marketing to affluent wine consumers. (Here is the full webinar for those that are interested—many thanks to LuxeSF and Alf Nucifora for putting this together!) These are five insights worth noting:
Insight #1: To be defined as a luxury wine, it must have 6 specific qualities.
Luxury wine brands are defined as wines that are (1) of high quality, (2) come from a special place, (3) have a sense of scarcity about them, (4) sold at an elevated price, and provide both (5) pleasure and a sense of (6) privilege.&nbs
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