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      • ARE BURGUNDY WINES TOO CHEAP? AN INVESTIGATION ON LAND PRICES, RENT PRICES, TENANT FARMING AND WINE PRICE

        LECAT Benoît,CHAPUIS Claude,BROUARD Joelle,BIZOT Jean-Yves 글로벌지식마케팅경영학회 2015 Global Fashion Management Conference Vol.2015 No.06

        The purpose of this research is to study the evolution of the price of Burgundy wines and to try to identify the reasons for such an evolution. Land prices, rent prices and wine prices in Burgundy will be analysed over the last decades. In terms of results, the price of wine in Burgundy has been observed to rise drastically in recent years as well as the evolution of land and rent prices. A better comprehension of price variations could help wine companies manage their long term profitability, especially if land were considered as an investment (and therefore, part of the company). As a recommendation, marketing tools but also training should be used by craftsmen to build, promote and distribute strong brands in order to remain on the market but also to attract major agents and importers and be distributed worldwide.

      • LESSONS FROM THE PAST (1822-1973): HOW DID “NICOLAS WINE MERCHANT CHAIN” USE PROMOTION TOOLS AND LUXURY CODES TO GROW OVER TIME?

        Benoit Lecat,Joelle Brouard,Claude Chapuis 글로벌지식마케팅경영학회 2017 Global Fashion Management Conference Vol.2017 No.07

        Despite its innovative and avant-garde reputation, the luxury industry initially began showing a very low commitment to new online marketing tools and it held a conservative approach to selling when compared to other sectors. Nowadays, the context has dramatically changed and luxury brands are approaching with an increasing interest social networks as well as the online selling. This research aims to clarify the current strategic approaches of the players in the different luxury markets towards the social commerce phenomenon, from both a theoretical and an empirical point of view. The purpose is to test a framework that can be used to classify luxury companies’ strategies regarding social media adoptions based on actual theories on social media. Four strategies related to the social media adoption by luxury brands have been identified: the Social brand ambassadors strategy class (low promotional content percentage and low social commerce score) includes those brands that use social media for entertainment and user engagement; the Social showcases strategy (high promotional content percentage and low social commerce score) includes those brands that use their social accounts as online catalogues; the Social infotainers strategy (low promotional content percentage and high social commerce score) includes those brands that scored high in social commerce, mainly because of the provision of informative content and brand–consumer interactions, but they were linked to more entertainment-oriented actions rather than product-related ones. Finally, the Social sellers strategy (high promotional content percentage and high social commerce score) includes those brands that have integrated social commerce into their online strategies and have subsequently exploited the potential of social media to drive online and offline sales. The database is built using original data from a content analysis of 100 luxury brands’ postings on five different social media platforms – namely Facebook, Twitter, YouTube, Instagram, and Pinterest. The total final sample included 12,132 Facebook posts, 21,216 tweets on Twitter, 1,105 YouTube videos, 10,138 Instagram pictures/videos, and 117,359 Pinterest pictures. The main findings are the following: luxury brands adopt at this stage the Social brand ambassadors and Social showcases approaches; brands belonging to the perfumery, cosmetics, jewelry and watches markets show a more developed attitude towards the social commerce; in other luxury markets, such as wine and spirits, brands still adopt a Social Brand Ambassador strategy, while managers should increase the promotional content in order develop the social commerce. The Fashion & Accessories brands show a positive relationship between the percentage of promotional content and social commerce score. This means that social commerce adoptions depend on the single brand’s strategic choices, ranging from low adoption to best practices. In general, social commerce is still not widespread; many luxury fashion brands, while presenting new collections during fashion weeks, focused on fashion shows, backstage events, and celebrities, rather than really promoting the new product lines with materials, availability, and purchasing indications. This social media approach is mainly focused on increasing brand awareness rather than increasing social commerce. If managers aim at increasing social commerce they should add direct call to action and link the contents to e-commerce market place. Automotive brands are concentrated in the Social showcases area; This sector encounters natural limitations in the introduction of social commerce due to the difficulty of selling products through the digital channel; many brands have, however, devised strategies to approach their users during the purchasing process prior to the actual transaction to take advantage of the increasing ROPO phenomenon. Conversely, the Perfumes & Cosmetics sector shows a highly fragmented approach to social commerce. The content analysis based on single post contents has shown that actually the contents are based on pictures of the products, or the brand, information on events, and a large and increasing presence of video posts based storytelling about the history of the product and the brand heritage; the most social commerce oriented posts are picture or video focused on the product. The commercial contents that aim at developing the see now, buy now approach are mainly based on video shows.

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