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Article
Publication date: 12 March 2018

Samuele Trestini, Serena Szathvary, Eugenio Pomarici and Vasco Boatto

This paper bridges the gap between theory and practice in the application of the Income Stabilisation Tool (IST). With an application to the dairy sector, the purpose of…

Abstract

Purpose

This paper bridges the gap between theory and practice in the application of the Income Stabilisation Tool (IST). With an application to the dairy sector, the purpose of this paper is to propose methodology for the quantification of reference income when farm structural change occurs and estimate the role of farm attributes on the probability of income loss, offering an ex ante evaluation of farm resilience to risk.

Design/methodology/approach

Based on a balanced Farm Accountancy Network farm-level panel ranging from 2008 to 2014, three hypotheses of reference income calculation are tested to assess whether farms structural changes over the years significantly affect the level of IST indemnification. The role of farm characteristics on the probability of an income reduction is then evaluated by estimating a multinomial logit model.

Findings

Results show that farms’ structural changes significantly affect IST indemnities and need to be considered in calculating the reference income. The estimated model suggests that farm characteristics significantly affect the probability of a severe income drop and hence risk resilience. Extensive livestock systems seem to reduce the probability of an income drop, while farms in upland areas managed by young farmers seem to experience increased risk exposure.

Originality/value

The research provides one of the first attempts to define risk profile of dairy farms by modelling the probability of an income reduction on observable attributes. Indeed, among different sectors, dairy farms emerge as the main candidates for the application of the IST.

Details

Agricultural Finance Review, vol. 78 no. 2
Type: Research Article
ISSN: 0002-1466

Keywords

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Article
Publication date: 23 September 2019

Marco Lerro, Riccardo Vecchio, Concetta Nazzaro and Eugenio Pomarici

The purpose of this paper is to investigate sparkling wine consumption behavior and preferences of a large sample of US consumers (n=1,096) exploring the differences among…

Abstract

Purpose

The purpose of this paper is to investigate sparkling wine consumption behavior and preferences of a large sample of US consumers (n=1,096) exploring the differences among genders and generational cohorts.

Design/methodology/approach

The sample has been drawn from Wine opinions, a specialized market research company with a large online panel of US wine consumers. Data were collected through a survey mailing model, administering a structured questionnaire.

Findings

Findings reveal that consumption frequency between genders is not statistically different and women generally prefer sparkling wines priced below $15. Baby Boomers is the generation with the lowest sparkling wine consumption frequency. Furthermore, Generation X and Baby Boomers have the highest consumption frequency in the price range $15–$19.99, while Millennials in the $10–$14.99 one.

Originality/value

The study sheds light on the changing consumer attitudes to create competitive advantages for wineries. Specifically, it provides valuable marketing insights into the peculiarities of sparkling wine consumption for each generation (e.g. price-point preferences and type of wine).

Details

British Food Journal, vol. 122 no. 8
Type: Research Article
ISSN: 0007-070X

Keywords

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Article
Publication date: 7 March 2016

Azzurra Annunziata, Eugenio Pomarici, Riccardo Vecchio and Angela Mariani

The purpose of this paper is to investigate consumers’ interest and preference for health warnings on wine label, and the key socio-demographic and attitudinal variables…

Abstract

Purpose

The purpose of this paper is to investigate consumers’ interest and preference for health warnings on wine label, and the key socio-demographic and attitudinal variables driving this interest.

Design/methodology/approach

Data were gathered, by a professional marketing company, through an on line survey with a sample of 300 Italians, aged over 18, consuming wine at least once a month.

Findings

Respondents were interested in receiving more information on nutritional and health features of wine through the label, and would also like to obtain information about the warnings about possible side effects related to excessive wine consumption. The most relevant variables influencing positive interest toward this information are gender (female), age (younger cohort), education level (higher), presence of children in the household and being the main responsible of grocery shopping.

Research limitations/implications

The research was limited by being conducted only in Italy, using explorative methodology.

Social implications

Outcomes provide useful evidence for advocates calling for the introduction of health warnings on wine labels and policy makers.

Originality/value

To the best of the authors’ knowledge, this is the first study to analyze Italian consumer interest toward health warnings on wine label.

Details

British Food Journal, vol. 118 no. 3
Type: Research Article
ISSN: 0007-070X

Keywords

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Article
Publication date: 12 March 2018

Gustavo Ferro and Ignacio Benito Amaro

Given the growing supply of wines and the large number of new consumers with purchasing power but lacking knowledge of the subtleties of high-quality wines, expert…

Abstract

Purpose

Given the growing supply of wines and the large number of new consumers with purchasing power but lacking knowledge of the subtleties of high-quality wines, expert opinions are used for consumers as proxies for quality. This study aims to determine the determinants of prices in top-quality wine market. The authors also seek to estimate the role for country of origin, grape, producing region and winery in prices. And, finally, the authors try to show how countries, regions and wineries can help increase their position in international rankings.

Design/methodology/approach

The authors try to answer: What factors explain the price of top-quality wines (defined as best rated in a standardized ranking)? To some extent, in the hands of producers influence prices, which imply long-term decisions or large investments in land and marketing. Other variables that consumer value does affect prices. The authors try also to detect undervalued or overvalued wines, grapes, regions, wineries or producer countries. The authors estimate an econometric model of hedonic prices using a 14-year sample of the Wine Spectator’s 100 top-rated wines for the American market between 2003 and 2016, totaling 1,400 observations. The sample is a great cross-section because each wine is unique.

Findings

The authors’ contribution is twofold: the determination of the price explanatory values and the identification and attribution of price differences by country, grape, region and winery. Also, the authors detected grapes, countries, regions and wineries which are overvalued or undervalued with respect to the average prediction of the model.

Research limitations/implications

The findings are useful to understand the role of price explanatory variables, as well as for making policy and managerial decisions. From the model, collective or managerial actions can be derived to increase particular wines’ positions in international rankings. The proxy for “quality” in the study is not the only possible definition.

Practical implications

In some cases, managerial choices could be conditioned by the policies or history. There is some room for collective action and public policies to improve regions’ and countries’ reputation.

Social implications

There are clear synergies for policies that can raise the prestige of countries and regions and their spillovers on the brand name reputation of individual wineries.

Originality/value

The results, policy and managerial implications are of interest for business, countries interested in improving their position in international rankings and for consumers to make more informed decisions.

Details

International Journal of Wine Business Research, vol. 30 no. 1
Type: Research Article
ISSN: 1751-1062

Keywords

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