Currently published as: International Journal of Wine Business Research
Online from: 1989
Subject Area: Marketing
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|Title:||Generic Consumer Risk-Reduction Strategies (RRS) in Wine-Related Lifestyle Segments of the Australian Wine Market|
|Author(s):||Trent Johnson, (School of Agriculture Wine, The University of Adelaide, Australia), Johan Bruwer, (Wine Business Group, School of Agriculture and Wine, The University of Adelaide, Australia)|
|Citation:||Trent Johnson, Johan Bruwer, (2004) "Generic Consumer Risk-Reduction Strategies (RRS) in Wine-Related Lifestyle Segments of the Australian Wine Market", International Journal of Wine Marketing, Vol. 16 Iss: 1, pp.5 - 35|
|Keywords:||Australian wine market, generic, lifestyle market segmentation, risk-reduction, RRS, wine consumer, WRL|
|Article type:||General review|
|DOI:||10.1108/eb008764 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Abstract:||Wine is widely regarded as a ‘complicated’ product and for the majority of consumers the purchasing of wine in the retail situation evokes considerable risk. Marketers are therefore constantly and increasingly trying to demystify wine in order to reduce the perceived risk levels of consumers in the purchase situation. Most previous research in the area of perceived risk literature tended to focus on the concept of risk and its measurement rather than on risk-reduction. This study examined the preferred risk-reduction strategies (RRS) employed by identified wine-related lifestyle segments in the Australian wine market and linked these strategies to the wine retail environment. Relying on favourite brands or so-called ‘safe brand’ buying was found to rank highest as a risk reduction strategy in the commercial (under $15 per bottle) and premium-to super-premium ($15-$25) price ranges while the opportunity to try before buying ranked highest in the ultra-premium ($25) price range. The results obtained have major implications for retailers and form the foundation for a competitive advantage. It also indicates the direction for future research in this strategically important area of wine consumer behaviour.|
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