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The purpose of this paper is to analyze the market of rosé wines in Italy, to outline retail strategies and to investigate to what extent the price is affected by branding these wines.

A survey has been carried out on retailers by collecting data about wines as intrinsic attributes (grape variety, blending, origin, alcohol content, etc.) and extrinsic attributes (brand, price, packaging, etc.) and about outlet and retail environment. The hedonic analysis required a rearrangement of data survey, while a Box-Cox transformation allowed to control the strong heteroskedasticity detected of the data.

Results provide strategies for still, semi-sparkling and sparkling rosé market segments. Still rosé wines are strongly differentiated, while the price is affected by the appellation, grape variety, blending, brand and outlet features. Two main strategies are suggested: the first focuses on appellations endorsing consumer’s brand loyalty; the second is driven by retailers while involving weaker brands. Different pictures emerged for semi-sparkling and sparkling wines, as producers and retailers tend to follow consumer’s preferences for fresh and easy drinking wines as well as to extend the product assortment.

Results for sparkling rosé wines cannot be generalized. The high fragmentation hinders the hedonic model performance in capturing the price effects of brands, appellations, grape variety and wine blend.

The hedonic analysis provides suggestions for rosé wine producers that should reinforce their brand through associations among intrinsic attributes, such as appellation, and extrinsic ones, such as price, while satisfying retailer requirements.

The paper contributes to the knowledge base about the Italian rosé wine market, which is mostly export-oriented. Model results help to understand why the domestic consumption is stagnant with respect to other countries such as France or the USA.

Consumer likeability and willingness to pay (WTP) for two Italian sparkling wines, (Conegliano Valdobbiadene Prosecco DOCG and Prosecco DOC) are evaluated through a non-hypothetical Becker-DeGroot-Marschak (BDM) auction during a wine-tasting experiment. The purpose of this paper is to estimate individual WTP and relate it to likeability for both wines, with and without supplying additional information on their features.

Data were collected in May–June 2019 from a sample of 99 consumers in Northern Italy. A non-hypothetical BDM auction in a wine-tasting experiment was implemented.

The results show that the additional information plays a significant role in widening the WTP gap between the two geographical indications (GIs), while the blind tasting narrows this gap. The “superiority” of the Conegliano Valdobbiadene Prosecco DOCG is confirmed but relies more on its better reputation than its better taste.

The authors are aware of two main limitations in the study. The first is the territorial composition of the consumer sample. The second is the selection of the Prosecco bottles used in the experiment. The results are considered pioneering and need to be verified by additional experiments with different consumer and bottle samples.

Promotional suggestions for the Tutelary Consortia of the two GIs stem from the results. The Prosecco DOC should primarily stress its likeability, while the Conegliano Valdobbiadene Prosecco DOCG should primarily emphasise the reasons for its “superiority”.

To the best of the authors' knowledge, no previous study has related likeability and WTP for similar GI wines produced in contiguous areas. Moreover, the current research has applied a non-hypothetical BDM auction in a wine-tasting experiment.

Under investigation is Prosecco wine, a sparkling white wine from North‐East Italy. Information collection on consumer perceptions is particularly relevant when developing market strategies for wine, especially so when local production and certification of origin play an important role in the wine market of a given district, as in the case at hand. Investigating and characterizing the structure of preference heterogeneity become crucial steps in every successful marketing strategy. The purpose of this paper is to investigate the sources of systematic differences in consumer preferences.

The paper explores the effect of inclusion of answers to attitudinal questions in a latent class regression model of stated willingness to pay (WTP) for this specialty wine. These additional variables were included in the membership equations to investigate whether they could be of help in the identification of latent classes. The individual specific WTPs from the sampled respondents were then derived from the best fitting model and examined for consistency.

The use of answers to attitudinal question in the latent class regression model is found to improve model fit, thereby helping in the identification of latent classes. The best performing model obtained makes use of both attitudinal scores and socio‐economic covariates identifying five latent classes. A reasonable pattern of differences in WTP for Prosecco between CDO and TGI types were derived from this model.

The approach appears informative and promising: attitudes emerge as important ancillary indicators of taste differences for specialty wines. This might be of interest per se and of practical use in market segmentation. If future research shows that these variables can be of use in other contexts, it is quite possible that more attitudinal questions will be routinely incorporated in structural latent class hedonic models.

This study aims to investigate, by means of a balance sheet analysis, the equilibrium and capital, financial, economic and income dynamics of Italian wine producers, during and after the international economic crisis (2008-2017). Therefore, three research questions arise: What was the evolution of the main financial indicators and margins? Did the companies that survived the crisis increased their profitability? Have these companies changed their financial and economic balance sheets?

It was analyzed the balance sheets of a medium–large companies sample. The study describes the evolution of three income indices (return on equity compared to the average interest rate on government bonds, return on investment compared to the average rate on loans, return on sales), three asset margins (structural margin, net working capital and treasury margin) and four financial ratios (acid ratio, current ratio, leverage and index of financial dependence). The results were graphically represented, also with the use of interpolation curves.

After the crisis, the sector shows increasing profitability. However, from the balance sheet analysis and the trend of the financial indices, there is a strong imbalance and excessive levels of stocks. Furthermore, the debt situation is excessive: the predominant presence of third-party financing would require enormous recapitalizations and probably an increase in self-financing, which is possible thanks to the constantly growing profitability.

The study takes into consideration only the companies that survived the crisis, therefore, presumably the stronger ones. Moreover, more ratios should be considered to have a more complete picture. It is a uniquely quantitative study based exclusively on the balance sheets data that neglect other important economic factors.

Public policies could use this study for better intervention decisions in support of agricultural and agro-industrial activities. Credit policy above all should consider the results of this research, requesting urgent consideration of possible capitalization warranting the access to regulated financial markets. Besides, internal management may compare company outcomes with average sector outcomes to identify improvement prospects. These kinds of studies are advisable for education and training.

The careful economic and financial analysis of the sector favors the relaunching strategies of the Italian wineries in which many employees work. Supporting companies favors employment, constant incomes for workers’ families along the entire supply chain, from the production of grapes to consumption. A solid sector guarantees development and social and economic well-being.

The study contributes to the literature by providing a quantitative method of analysis of the sector, through the comparative information taken from the balance sheets. Therefore, it expands managerial and accounting knowledge on an important sector for the Italian and world economy.

This paper aims to know the dimension and scope that research on the district effect has had in the literature about industrial districts, as well as to shed some light on the connection between industrial districts and business results; or expressed differently, on how being located in an industrial district or not affects or might influence the performance of the firms located therein.

The purpose of this paper has been achieved through an exhaustive review of the empirical literature dedicated to the so-called district effect. The papers selected in the analysis were selected on the basis of the following criteria: (1) publications in scientific journals; (2) studies carried out in Spain and Italy; and (3) works published between 1994 and 2017.

The outcome of the literature review suggests, on the one hand, that the debate on the extent to which the territory influences the competitiveness of firms located in industrial districts still remains a topic of great interest. It can additionally be observed that most of the works dedicated to measuring the district effect have done so using three dimensions: (1) productivity/efficiency; (2) international competitiveness; and (3) innovation.

From a theoretical perspective, the findings of this paper make it possible to carry out an integrating proposal for the measurement of the district effect which revolves around three dimensions (productivity/efficiency; international competitiveness; and innovation).

This paper makes a twofold contribution to the literature: (i) it brings together the most important empirical contributions that measure the competitive advantages obtained by firms located in industrial districts through the district effect; and (ii) it theoretically and empirically establishes the essential dimensions of that effect.

The purpose of this paper is to detect market segments where consumers have a different knowledge of domestic and imported Parmesan cheese in USA and Canada. The results may be helpful in understanding to what extend North America consumers appreciate Parmesan cheese and brands, Parmesan consumption and price while recognizing market segments according to consumer awareness, involvement and covariate effects.

A class of mixture models, known as combination uniform binomial (CUB), is applied to survey data collected in USA and Canada. A questionnaire, filled out by 540 restaurant customers, collects opinions about consumption, purchase features and price. The CUB model estimates the two latent variables, known as feeling and uncertainty, explaining the respondent’s behavior as awareness and involvement variability while the CUB clustering procedure detects market segments.

CUB results show that the Parmesan is a well-known cheese but also that a small share of consumers look for the place of origin. The model detects market segments where consumers express better awareness on taste, price and origin while the knowledge of imported Parmesan brands is lacking. Most of consumers, not paying attention to the origin, would hardly switch to the imported Parmesan because of higher price or because they are already satisfied of the domestic cheese.

The results suffer some restrictions in the sample representativeness. A further analysis, where the survey is done at retail and advances in CUB models, may improve the market segmentation procedure allowing a better generalization of results.

The survey results highlights the appreciation and consumption of Parmesan cheese, especially for its taste, as well as a low perception of Italian brands. Consequently, trade companies should focussed their communication strategy on activities encouraging North American consumers to taste Italian Parmesan brands (e.g. tasting sessions, price promotions) instead of costly and less effective advertising campaigns.

Parmesan brand misunderstandings are often associated with market information asymmetry. The paper results show a market segmentation where purchases are mainly driven by Parmesan taste regardless of domestic or imported brands. Likely, the consumption of domestic Parmesan is well consolidated and it is not a consequence of brand information asymmetry.

The CUB model is an innovative and flexible no parametric approach for evaluating consumer behavior and for segmenting the market while dealing with complex problems of food knowledge.