Case: Argentina Uncorks Malbec: World Ready for a Glass
Textbook: Global Marketing (8th Edition) Paperback Warren J. Keegan , Mark Green (Author) 8thed ISBN: 978-0133545005
Please, read the Case study on pages 64-65 of the textbook and respond to the the questions below the overview ( full sentences, grammar and spelling are graded as well)
Overview:Argentina has been producing wine since the sixteenth century, but the country's winemakers did not start competing globally until recently. Argentina's sudden popularity in global markets is due in large part to Malbec, a grape variety that is now synonymous with Argentina. Argentina currently boasts 278 wineries with 1,047 labels, with the vast majority operating in the Mendoza region. Argentina is the fifth-largest wine-producing nation in the world. The target market for Argentina's wine exports is the United States rather than Europe. As can be inferred from these examples, times are good in Mendoza, but threats in Argentina's internal and external environments do exist. Perhaps the biggest threat is Argentina itself. Other regions are also starting to experiment with Malbec-based wines. Argentina and Malbec are synonymous for now, but that identity could be lost.
1. Even though the Malbec grape is well known in Argentina, consumers in other countries are less familiar with it. What recommendations do you have to help increase consumer understanding of, and appreciation for, Malbec-based wines?
2. The forces of supply and demand affect many industries, and the wine industry is no exception. Currently the world is awash in an ocean of excess wine. Winemakers in France, Australia, and other countries are struggling financially. Given this situation, what can Argentina's wine producers do to maintain or increase their market share?