External Analysis – Competitive Environment
When initially analyzing the Old World Wine Industry versus the New World Wine Industry, the differences are evident. Strong representations of this include factors such as size, production methods, brand equity, and production orientation. Through conducting an analysis using Porter’s Five Forces, one can clearly see the clear delineating factors between the Old and New World.
Threats of New Entrants
Within the wine industry, it is often thought of as having a low threat of entrants based on a historical understanding. In the Old World, the use of technology and automation is avoided as well as the use of strategic advertising and promotion methods. In addition, a highly regulated production system is implemented for certain inputs of the industry, which introduced a low threat of new entrants. However, the threat has risen in the New World due to the investment in technology and automation based production as well as an increased budget for advertising. The ability to start an independent, high-end winery takes a large physical and financial capital investment.
Threat of Substitutes
Generally speaking, other alcoholic beverages can be viewed as being a substitute for wine. However, specific substitution of wine in the New World is low because most individuals prefer to purchase wine from a retail facility instead of producing their own. Where as in the Old World the option of producing wine...
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...ries such as Spain, Belgium, UK, Japan, and China. Future growth can be obtained through positioning current brands in those emerging markets.
Risks & Benefits
Through continuing to expand Mondavi’s products line through joint ventures and partnerships in foreign counties risks and benefits are inevitable.
• Reduction of risk while expanding the regional outreach of the product line.
• The ability to access new customer segments and expand their customer base.
• Sharing of knowledge, technology, and capital that are brought to the company by the partner.
• Regulations and obstacles in foreign territories are often immensely different than North America.
• Income potential can be extremely limited due to the nature of pricing.
• The company’s reputation is on the line when bringing in a new product to a new market in a foreign country.
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