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Global Wine Industry

The impact of wine in different cultures is growing resulting in an increase on exports in this industry. Another factor that sets a high competition is the quality of the product. Wine has a very complex production and whoever offers the best will have the best profit. .
             What competitive forces seem to have the greatest amount effect on industry attractiveness? Justify your conclusions.
             The rivalry among competing sellers has a great effect on industry attractiveness because it is an industry that is growing and demand of product is growing as well. The greater the quality of service or product the greater will be the benefits, like higher profit. The number of buyers in increasing with the market growth; consequently, it will attract new entries with a great opportunity to grow. Another force to have a great effect is competitive pressure stemming from buyer bargaining. The consumers of wine are known by their taste and loyalty to the product. The bargaining power of buyer is low due to the fact that they are interest in quality and not price. If you offer a good product they will buy it for whatever price. If they want a lower quality they will pay a lower price. This attracts more business to the market knowing that if you price high and offer good quality, buyers will buy your product over others no matter what.
             3. How is the global wine industry changing?.
             The global wine industry is changing due to the fact that is growing and new entries offer new innovations for the market. New cultures and tastes have to be explored. .
             What are the underlying drivers of change and how might those driving forces change the industry?.
             Increasing globalization of the industry- Industry is moving towards globalization launching different strategies to gain power in the market starting a race for leadership. Countries will reduce barriers to export. A lot of firms will increase the ability to transfer production, marketing, as a very low cost responding to different markets around the world.


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