Does Product Diversity Signal Bargains in Australian Wine?
AbstractThe residuals from a set of linear regression equations built to explain the quality of a bottle of Australian wine via eight quality signals are examined to determine whether there is any relationship between their signs for individual producers and the diversity of their offerings. Product diversity is found to be a fault-ridden signal of a quality-bargain, which we define as a bottle of wine whose quality rating exceeds its regression-based expectation. Indeed, to the extent that the signal does impart useful information, the message would be that consumers are less likely to get their money's worth the greater is the diversity of the producer's offerings.
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Bibliographic InfoArticle provided by International Food and Agribusiness Management Association (IAMA) in its journal International Food and Agribusiness Management Review.
Volume (Year): 09 (2006)
Issue (Month): 01 ()
wine marketing; product diversity; wine quality; predicted quality; quality-bargain; Agribusiness; Marketing;
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