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Chateau des Vaults - International Market Entry Strategy
- 1. Chateau des Vaults Emerging into the Japanese Market Presented by: Natalie DeNike Ally Hemenway Katie Adkins Caitlin Carroll
- 17. Japanese Consumer Japanese Consumer
- 27. Wine Tourism Wine Tourism
- 28. Wine Tourism Wine Tourism
- 32. SWOT Analysis Market SWOT Analysis Strengths Mature wine market Lack of domestic wines Weaknesses Language and culture barrier Distance Opportunities Stronger image Expanding market Threats Competition Taxes Economic Downturn Other alcohols
Notes de l'éditeur
- Prepare an executive for international business transactions in Japan. Successfully enter the target market in Japan. Prepare the client to successfully enter the Japanese wine market.
- Location: Island chain in Eastern Asia Area: 377, 915 sq km Comparable to California Ethnic Groups: Japanese 98.5% Koreans (0.5%), Chinese (0.4%), and other (0.6%) Population Growth Rate: -0.242% Median Age: 44.6 years Life Expectancy: 82.17 years
- GDP: $5.068 trillion GDP per capita: $32,700 Currency: Yen (JPY) Exchange Rate *** Japan is currently in communication with the EU in plans to discuss trade agreement - April or May 2011 Only barrier - tariffs on wine Trade restrictions on services, telecommunications, postal services, electricity and transport - not on wine
- France carries the strongest image for wine in Japan, market share continues to decline due primarily to competition from new world wines Import/export Imports: $499.7 billion Exports: $542.3 billion FDI Stock of FDI at home: $151.5 billion Stock of FDI abroad: $747.1 billion Why Imports? The product is not available in Japan The product is a specialty item from the country For increase in social status To enjoy the lifestyle of the country of origin
- this shows a decrease of French wine imports in 2009 - think we include this chart?
- The 1998 boom followed reports of red wine increasing heart health
- Non-verbal communication: Expressions to watch out for include inhaling through clenched teeth, tilting the head, scratching the back of the head, and scratching the eyebrow Non-verbal communication is so vital there is a whole book for foreigners on how to interpret the signs It is disrepectful to stare into another person’s eyes, especially a person who is senior to you because of age or status Japanese are very conscious of age and status Everyone has a distinct place in hierarchy Language: Japanese Translator Religion: Shintoism (83.9%), Buddhism (71.4%), Christianity (2%), and other (7.8%)
- Greetings are very formal and ritualized Show respect Wait to be introduced, impolite to introduce yourself Bow but foreigners shake hands Business Cards
- If they cannot afford high priced items, they will often purchase “near-luxury” items. Japanese people tend to agree with the opinion of others, so growing popularity of products can result in increased sales
- 40% of women drink wine once a month, only 31% of men Most wine drinkers are found in cities rather than rural areas - 60% of wine consumption in 2009 was in Tokyo Older generation tends to consumer traditional alcoholic beverages such as sake and beer.
- The new Japanese consumer More and more people are eating at home, trying to save money 60% of wine consumption is off-sight.
- Why will Japanese choose white wine for consumption? Will there be crowding out from local wines? What competition is there from local wines? What competition from other French wines? Other foreign wines? How will you compete? How will you keep up with the trends? Household Income Lowest 10%: 4.8% Highest 10% 21.7%
- Competition from foreign countries (new world wines): France, Italy, Chile, Spain, Germany, Australia, United States Import volumes of French wines declined only 2.5% from 2009, the total value of French wine declined 18.5%.- can be attributed to cautious consumer spending which reduced demand for premium French wine in both retail and HRI sectors Domestic almost half volume (800,000 hectoliters /1.23 million hl), but ｾ is made with imported ingredients and blended majority is targeted to the low price segment (below 11.23)
- Dates?
- The Japanese Internet retail market is expected to grow by $50 billion by 2015 Internet users: 90. 91 million 3rd largest amount of Internet users in the world
- Consumers 35 and under generally accept screw cap bottles Very important to have long lasting tradition- determines quality Nice packaging- do not favor bright colors or smell- discrete perfumes and suits Translate label completely into Japanese
- Under the Food Sanitation Law, the Japanese Ministry of Health, Labor and Welfare (MHLW) outlines the permissible quantities of wine coloring agents and preservatives used as additives. Currently consumer demand exceeds domestic supply for organic products in Japan.
- Ex. Bordeaux wines
- In France the highest number of Japanese tourists in Europe by at least 800,000: 1,603,000 – almost as much as US
- Suggestions: Intern-specifically for computers, website, online orders internship from cooking or wine school or IT- experience exchanged for labor Angers-30,000 students, good labor force for interns Multiply sales channels Private brand store, Internet sales, restaurants 60% of wine purchased through retailers 89% of Japanese consumers shop online Compared to 63% in the U.S. and 56% in France
- Find a distributor with knowledge of the Japanese wine market Translator from the region
- Recommendations based on the “Marketing Mix” model