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Wine Marketing for the Millennium Generation

Wine Marketing for the Millennium Generation. Dr. Liz Thach * Kate Shields Sonoma State University, Wine Business Program. About the Millennium Generation DVD: Advice From The Millennium Generation Findings & Opportunities in Millennium Wine Marketing Advertising for Millennials. Topics.

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Wine Marketing for the Millennium Generation

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  1. Wine Marketing for the Millennium Generation Dr. Liz Thach* Kate Shields Sonoma State University, Wine Business Program

  2. About the Millennium Generation DVD: Advice From The Millennium Generation Findings & Opportunities in Millennium Wine Marketing Advertising for Millennials Topics

  3. Also called Y Generation and Echo Boomers Born between 1977 and 1999 (wine consumers 21 – 27) 76+ million strong - largest consumer group in the history of the U.S. (Harris Interactive) Annual incomes totaling $211 billion Spend $172 billion per year and save $39 billion per year Represent the future market for most consumer brands Millennium Generation SOURCES: 1) When Generations Collide; Lancaster & Stillman (2002); 2) Wine Market Council; 3) http://www.onpoint-marketing.com/generation-y.htm; and 4) Harris Interactive Study (2001)

  4. Millennium Traits • Technology Savvy – grew up with cell phones and Internet • Will read online menus and wine lists in advance • Positive, Optimistic Thinkers • Can do attitude; working mothers • Realistic Problem-Solvers • Embrace Diversity • 1 of 3 consider themselves non-Caucasian • Believe in Balance • Saw their parents work too hard; want some fun • Environmentally Conscious • Seek Out Quality and Top Brands

  5. In Comparison With… • Gen X Wine Drinkers(46M) • Late 20’s and 30’s • More marginal wine drinkers • 59% female/ 41% male • Baby Boomer Wine Drinkers (80M) • Age 40’s – 60’s; more core • Highly educated • 55% men/ 45% female • High income; primarily White • Traditionalist Wine Drinkers (75M) • Ages 70’s-90’s • Conservative • Hard-working; loyal • Drinking less wine now Population in Millions SOURCES: When Generations Collide; Lancaster & Stillman (2002

  6. Pay attention to us…….. DVD: Advice From The Millennium Generation To The Wine Industry • 108 interviews (51% Male; 49% female) • Age: 21 – 28; average age 23 • Consumption levels: 66% drink wine sometimes • 45% core (drink wine at least 2-3 times per month) • 21% marginal (drink wine at least once every 2-3 months) • 34% non-adopters

  7. 1) Type of Wine You Like to Drink? 2) Why You Like/Dislike Wine? 3) Is Wine Hip/Cool? 4) Advice to the Wine Industry to Market to Millenniums? 5) Appealing Advertising? 5 Question Categories

  8. Findings & Opportunities in Millennium Wine Marketing

  9. White, 18% Red Red, 48% Both White Both 34% Major Findings: Preferred Type of Wine In sample, 48% preferred red wine: -- fruity -- smooth -- goes well with food -- MERLOT most common

  10. Major Findings: Reasons Like/Dislike Wine I Drink Wine Because…….. I DON’T Drink Wine Because…….. * 45% say family drinks wine

  11. 1) Explore “taste” issues further Why STRONG likes/dislikes for the taste of wine? Flavor profiling of millenniums 2) New Red Millennium Wine Develop a new “fruity, red wine” that is “hip/cool” and priced below $10 – but marketed as “quality wine for the new generation.” 3) Emphasize Certain Attributes - Relaxation; food connection; social situations Opportunities

  12. Findings: Is Wine Hip or Cool?

  13. Findings: What Would Make Wine More Hip/Cool?

  14. Findings: What Events Do You Associate With Wine?

  15. Findings: What should the Wine Industry DO to become more consumer focused?

  16. Opportunities in Millennium Wine Marketing • 4) Begin Strategic Marketing Planning • Can’t afford to ignore this 76 million strong generation; • The future consumers of wine • Already drinking wine; but wine not perceived as hip/cool • 5) Consider Innovative Packaging & Appealing Labels • Light, portable, and convenient packaging (plastics, screw-caps; multi-packs) • Colorful, hip labels with simple descriptions (chart to illustrate level sugar; fruitiness, etc.) • 6) Emphasize Value Equation: Good Quality for Good Price • Under $10; perceived as decent quality • “Give us a wine that is priced between winos and high class”

  17. Opportunities in Millennium Wine Marketing • 7) Start Preliminary Advertising to This Group • Online; TV; Print Ads • Casual social situations; relaxed; fun – with Wine • Not to get drunk; but to enjoy and enhance life

  18. Millennium Wordsto Describe Wine Number of responses 40 35 30 25 20 15 10 5 0 Hip Fun Light Cool Natural White Other Easy Snooty Snobby Old Guys Confusing Expensive Way Too Serious Opportunity to promote NATURAL attributes of wine – perceived positively as something made from the earth, sun, and by hand.

  19. Findings: If You Had to Produce An Ad to Get People to Drink Wine, What Would It Look Like?

  20. Examples ofCurrent AdvertisingandOpportunitiesfor the Future

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