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The Crazy Thing Wine Buyers Will Pay For

The fancier the name, the higher the price

By Angela Nazworth, InvestorPlace Writer

http://invstplc.com/1nzxTDy

A fancy name affixed to a bottle of wine doesn’t guarantee the beverage is of exquisite quality. It does, however, increase its likelihood of being purchased.

A recent marketing study conducted by Brock University wine researcher Antonia Mantonakis showed that consumers are more likely to pay more for a wine that carries a name like Tocai Friulano, or something else that’s difficult to pronounce. Not only that, but those same consumers also are more likely to enjoy wines with fru-fru names, NPR reports.

“Participants not only reported liking the taste of the wine better if it was associated with a difficult to pronounce winery name. But they also reported about a $2 increase in willingness to pay,” Mantonakis told  NPR.

Of course, there is an exception to every rule. Although having a fancy name can help a bottle of wine go from a grocer’s shelf to a wine lover’s cellar,  beverages with whimsical names also are trendy. With more women purchasing alcoholic beverages, low-priced wines like Cupcake, Sassy Bitch and Beam‘s (NYSE:BEAM) Skinnygirl collection are attracting many consumers.


Article printed from InvestorPlace Media, https://investorplace.com/2012/06/the-crazy-thing-wine-buyers-will-pay-for/.

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