Peter Yeung (pronounced “young”) is a leading wine business consultant, developing strategic business plans and innovative marketing plans for the wine industry. He is the author of the book “Luxury Wine Marketing” and the host of the XChateau podcast. He was previously Vice President of Strategy & Business Development at Realm Cellars in Napa and Kosta Browne Winery in Sonoma, managing the allocation systems and business analytics functions. Peter holds the WSET Diploma as well as the CIA’s Certified Wine Professional designations. Prior to wine, Peter led Strategic Marketing, Market Development, and Sales for a clean technology company in Silicon Valley and was a management consultant with McKinsey & Company. Peter also holds a MSc from the London School of Economics and a BA from the University of California, Berkeley in Economics and is based in San Francisco.
What Pricing Communicates (for Fine Wine)
Pricing, for fine and luxury wines, is always a complex topic. Whereas for more “commodity” or everyday wines, where pricing is a function of the what market will bear, pricing for fine wines has many embedded messages in it. It communicates where the brand is positioned (or desires to be positioned) in a regional and global market. It sends a message to consumers about the winery’s value proposition to them. In this session, we will explore both the art and science of fine / luxury wine pricing and what pricing communicates to the marketplace.