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ABSTRACT
The aim of this paper is to examine how wine firms implement their marketing strategies based on the recognition of market opportunities by their Chief Executive Officers (CEOs). Firstly, we describe the marketing activities in 69 traditional Chilean wine firms. Then, in-depth interviews with CEOs of two wineries are analysed using cognitive maps to uncover the cognitive processes responsible for recognizing and executing market activities. Our findings indicate that there is a similar set of strategic resources across the wineries, but the CEOs’ different perceptions of the usefulness of these resources in the implementation of marketing strategies have led them to select diverse strategies to increasing both the price per bottle and wine sales. This paper makes two contributions. Firstly, we compare the benefit of implementing traditional and relational marketing strategies in the Chilean wine industry. Secondly, we show that the CEOs’ perception of feedback processes among the available resources affects the recognition of market opportunities and the marketing strategy in wine firms.
Acknowledgement
We would like to thank the Editor and each of the anonymous reviewers for the very helpful and thoughtful comments. We also thank Gonzalo Rojas, Head of the consulting office of wine tourism called ‘Enoturismo Chile’, who provided us with the national survey of wine tourism activities in Chile 2013. We also appreciate the feedback provided by Dr. Pablo Tapia and Jose Ignacio Barrera from University of Chile and the support of the Department of Management Science and Innovation at University College London.
Disclosure statement
No potential conflict of interest was reported by the authors.
ORCID
Juan Pablo Torres http://orcid.org/0000-0001-7622-2038