- Change in the global wine industry
The global wine industry is getting flourished with the passage of time. The increased demand from many countries of the world has intensified competition in this business. There are a number of varieties of wines that are being produced by the companies spreading all around the world. This change has not been created at once, but there occur a number of changes in this industry and that takes many years. Furthermore, there are many countries of the world that has started producing wine of various colors and flavors. It is the capital invested in this industry and the behavior of the people towards it has changed the production of this product.
- What are the underlying drivers of change?
There are a number of underlying forces that have their deeper impact over the wine industry. These forces include the use of the technology like the internet by the companies as well as by the customers for knowing more about the product they want to buy, globalization that is creating new markets for the businesses, the clime that has its deeper impact over the wine industry, the marketing and promotion programs that are making the customers aware of the features of the product and last but not the least, the change in wine like there are numerous colors and the flavors in which the wine is being produced.
- How might those driving forces change the industry?
There are certain other factors too, which have changed and affected this industry, and they are numerous in number. Moreover, the use of wine is becoming the needs of the people. The major factors that have been described above change this industry in many ways. The way of change of the underlying factors has been described below.
Use of technology
The information regarding the production of a specific brand is provided to the people through the use of the internet, and the people from all around the world try to get them. So we can say that the internet has made it easy for the people to make an order and to get the type of wine they need. The businesses are using new machineries to make the wine exceptional.
Effects of globalization
Due to the globalization, the wine industry is being changed too just like others. The new markets are being opened for the organizations related to wine. The import and export of the wine business is increasing day by day. The wine that was used to be produced in one country is now getting expended to other countries. And due to lesser number of barriers in entering to a new market, the businesses are investing money and are producing plants for the manufacturing of the wine. So this factor has influenced and one of the underlying factors of the change in the wine industry.
Climate
One of the forces of the wine industry is the change in the climate. The production of the eatables also affects the overall market of the wine. Just like the other businesses, the weather has affected the business of wine all around the world. The production of the grapes is very sensitive to the surrounding environment, if the weather is reasonable the volume of the grapes will be increased and the vice versa. The areas where these eatables are produced, there the investors have started off producing wine in a bulk quantity.
Promotion and advertisement
As compared to the pervious time period, the wine producers have been successful in making their product famous with the assistance of the advertisement. It is not only the matter of the increment in the wine production, but also the decline happens if the related factors are not in favor of the wine industry. Millions of dollars are being invested in this sector to make it more strengthened.
Different varieties and colors
People have started taking wine and the want it to be in different flavors and colors. When the industry produces and satisfies this demand of the people regarding the wine, the change in the overall wine industry incurs. Whenever, the business introduces some new flavor of the wine and promotes it with the use of internet through marketing, the people tend towards it and want to use it minimum for once.
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