Prediction of the Wine Price Purchased Using Classification Trees
The wine market is expected to recover and growth in the following years. Although the market size of this market is small in Mexico; efforts are being made to promote national wines. To support these actions, the current study aims to explore consumers’ decision to pay for a low versus hi...
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| Format: | Article |
| Language: | Spanish |
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Universidad Autónoma de Nuevo León
2022
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| Online Access: | https://vinculategica.uanl.mx/index.php/v/article/view/232 |
| _version_ | 1824328236502351872 |
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| author | Wise Lozano, Jorge A. Arroyo, Pilar |
| author_facet | Wise Lozano, Jorge A. Arroyo, Pilar |
| author_sort | Wise Lozano, Jorge A. |
| collection | Artículos de Revistas UANL |
| description | The wine market is expected to recover and growth in the following years. Although the market size of this market is small in Mexico; efforts are being made to promote national wines. To support these actions, the current study aims to explore consumers’ decision to pay for a low versus high priced wine according to wine attributes and external influences. A total of 290 wine consumers, knowledgeable about wines, participated in an online survey that took place in the Northwest part of Mexico. The relevance that eleven attributes have on the wine price was assessed through the application of classification trees, a method that has not been previously applied to explore wine purchase decisions. The result indicate consumers are mainly driven by price than the wine attributes. However, relevant attributes for consumers of low-priced wines (less than 20 USD) include “label information” “awards” and “previous tasting”. By contrast, purchase decision of consumers of pricey wines are mainly driven by “country or region of origin” and “vineyard recognition”. The study findings offer provide suggestions on the wine attribute wineries and marketers should focus on to meet the current consumers’ preferences depending on the price-sensitivity and wine knowledge of target segments. |
| first_indexed | 2025-02-05T23:11:04Z |
| format | Article |
| id | vinculategica-article-232 |
| institution | UANL |
| language | spa |
| last_indexed | 2025-02-05T23:11:04Z |
| physical | Vinculategica efan; Vol. 8 No. 6 (2022): VinculaTégica EFAN 8(6) Noviembre - Diciembre 2022; 12-23 Vinculatégica EFAN; Vol. 8 Núm. 6 (2022): VinculaTégica EFAN 8(6) Noviembre - Diciembre 2022; 12-23 2448-5101 |
| publishDate | 2022 |
| publisher | Universidad Autónoma de Nuevo León |
| record_format | ojs |
| spelling | vinculategica-article-2322024-02-01T17:09:21Z Prediction of the Wine Price Purchased Using Classification Trees Wise Lozano, Jorge A. Arroyo, Pilar Wine Mexico Wine Knowledge Wine Consumers C93 E37 M31 The wine market is expected to recover and growth in the following years. Although the market size of this market is small in Mexico; efforts are being made to promote national wines. To support these actions, the current study aims to explore consumers’ decision to pay for a low versus high priced wine according to wine attributes and external influences. A total of 290 wine consumers, knowledgeable about wines, participated in an online survey that took place in the Northwest part of Mexico. The relevance that eleven attributes have on the wine price was assessed through the application of classification trees, a method that has not been previously applied to explore wine purchase decisions. The result indicate consumers are mainly driven by price than the wine attributes. However, relevant attributes for consumers of low-priced wines (less than 20 USD) include “label information” “awards” and “previous tasting”. By contrast, purchase decision of consumers of pricey wines are mainly driven by “country or region of origin” and “vineyard recognition”. The study findings offer provide suggestions on the wine attribute wineries and marketers should focus on to meet the current consumers’ preferences depending on the price-sensitivity and wine knowledge of target segments. Universidad Autónoma de Nuevo León 2022-11-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer-reviewed Article Artículo evaluado por pares application/pdf https://vinculategica.uanl.mx/index.php/v/article/view/232 10.29105/vtga8.6-232 Vinculategica efan; Vol. 8 No. 6 (2022): VinculaTégica EFAN 8(6) Noviembre - Diciembre 2022; 12-23 Vinculatégica EFAN; Vol. 8 Núm. 6 (2022): VinculaTégica EFAN 8(6) Noviembre - Diciembre 2022; 12-23 2448-5101 spa https://vinculategica.uanl.mx/index.php/v/article/view/232/307 Derechos de autor 2022 Jorge A. Wise Lozano, Pilar Arroyo https://creativecommons.org/licenses/by/4.0 |
| spellingShingle | Wine Mexico Wine Knowledge Wine Consumers C93 E37 M31 Wise Lozano, Jorge A. Arroyo, Pilar Prediction of the Wine Price Purchased Using Classification Trees |
| thumbnail | https://rediab.uanl.mx/themes/sandal5/images/article.gif |
| title | Prediction of the Wine Price Purchased Using Classification Trees |
| title_full | Prediction of the Wine Price Purchased Using Classification Trees |
| title_fullStr | Prediction of the Wine Price Purchased Using Classification Trees |
| title_full_unstemmed | Prediction of the Wine Price Purchased Using Classification Trees |
| title_short | Prediction of the Wine Price Purchased Using Classification Trees |
| title_sort | prediction of the wine price purchased using classification trees |
| topic | Wine Mexico Wine Knowledge Wine Consumers C93 E37 M31 |
| topic_facet | Wine Mexico Wine Knowledge Wine Consumers C93 E37 M31 |
| url | https://vinculategica.uanl.mx/index.php/v/article/view/232 |
| work_keys_str_mv | AT wiselozanojorgea predictionofthewinepricepurchasedusingclassificationtrees AT arroyopilar predictionofthewinepricepurchasedusingclassificationtrees |