Classic Business Models

XChateau is a podcast about all things wine, from vine to your glass. We tackle the business of wine and keep you up to date with new and exciting developments so you always know what goes into your bottle.In this episode, Robert Vernick and Peter Yeung continue their series on standing out from the crowd. This episode will focus on the classic business models of how brands were built.Stay tuned to hear Robert and Peter’s thoughts on the three main models wineries use for branding, what works and what needs to change in a post-Covid-19 world.Topics covered in today’s episode:Why wine quality and critic scores alone are no longer the key factor in success.The three classic business models: cult, trade and hospitality.How cult brands foster a business model based on scarcity.Two types of wine demand: consumption and investment.Trade models and the importance of relationship building.How the increase in sommeliers has altered the influence of distributors.Leveraging pedigrees and influence in trade nationally and globally.The necessity of pivoting to direct selling for small wineries unable to crack the trade channel.The boom in hospitality over the last 30 years.The importance of creating experiences.The emergence of cross-marketing.If you loved this episode, we would love for you to subscribe, rate and review on iTunes or wherever you get your podcasts. Until next time, cheers! Hosted on Acast. See acast.com/privacy for more information.