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Many firms, wine producers among them, have successfully communicated the quality of their products to the market by emphasizing the geographic origin, or location of production of critical ingredient(s) found in the product. The purpose of this article is to: introduce the concept of a “place‐based” marketing strategy, i.e. a marketing strategy that identifies a consumer product with a specific geographic area; explain why it is essential to the wine business; and, why it may be superior to other types of marketing strategies for certain types of agricultural products. Additionally, traditional valuation techniques applied to agricultural land typically assume that agricultural goods are undifferentiable commodities. With the growing trend toward the production of “place‐based” agricultural products, the traditional valuation methods omit an important variable – the potential for the geographical source to help develop a product‘s brand equity. This paper also discusses land valuation techniques and applies the concept of products of place to the trend among Californian wine growers to produce wines with vineyard designations.

A dynamic econometric model of wine auctions is estimated to measure the informational signalling impact of a wine critic on the return to the investment in fine wines. United States data suggests that critic Robert Parker is an influencer on the auction price of Bordeaux wines. Furthermore it appears that American buyers look toward the much larger European market in order to establish values. In doing so they may be able to mitigate the effects of asymmetric information.

Despite nearly universal agreement that ultra‐premium California wines have reached a quality level which is on a par with the world's best, these wines have not captured the hearts and minds of many traditional buyers of the best wines in the international marketplace. These California wines face several competitive disadvantages — the lack of a sustained track record over a long period of time; comparatively small production levels; the lack of an established pecking order; and, a less‐than‐optimal distribution system, among other factors. As a result, brand equity of California ultra‐premium wines has suffered. This paper modifies and extends the paradigms of both Aaker and Keller by specifying a brand equity model that captures the dimensions of brand equity for ultra‐premium California wine producers. Evaluating current marketing practice against the derived model, the authors suggest marketing strategies and tactics that may permit ultra‐premium California wines to overcome many of their competitive disadvantages with the objective of enhancing brand equity.

Recent research has focused on the influence of the political party of the US President on stock indices. This current paper extends this area of research by including the influence of the political party that holds the majority in Congress into the research design. The results do not support the hypothesis that there is a statistically significant relationship between the political party of the president and the return on the stock index. However, the political party with the majority in Congress is significantly related to the return on the index. The returns during Republican controlled Congresses are higher than returns during Democrat controlled Congresses.

This conceptual paper seeks to examine the issue of whether or not a brand needs to be consistent. Whilst this assumption often seems to be made within the marketing literature, it has not previously been examined.

The paper uses the example of wine to explore the consumer's desire for consistency. The paper is not based on a specific research project, but rather reflects the findings of a number of projects, and of an engagement with commentators on wine over a number of years.

The paper suggests that rather than wine invariably being the same it is necessary for it to offer a regular standard of quality within varying external constraints, and that consumers may actually search out such inconsistency. By extension, it is argued that this is relevant for other goods, such as a foods and fashions, and aesthetic and ludic products.

It may be relevant for managers to build inconsistency into product design in some cases to give consumers the chance of involvement in brand co‐creation.

The paper examines an aspect of brands (consistency) not previously considered, and moves on the current debate about consumer participation in the development of brand meaning.