Business Analysis
Last four digits of student ID #:
Name of the business: More Vino LTD.
Nature of the business: Wine/Alcohol Retailer, Bar and Restaurant, Wholesaler, and Delivery
Marketing analysis:
In early 2005, Christian and David Stone founded More Vino LTD in Port of Spain, Trinidad. The Stone brothers strived to become one of the leading distributors and retailers of the finest local and imported wines. Considering that there were few others who had yet penetrated this industry, they have the competitive advantage of carrying a very wide and exclusive selection of alcohol products. The island of Trinidad is a very well known year round vacation spot for tourists and locals. Demand for this company is typically seasonal and increasing in the peak times of both summer and winter. The foundation for their increasing sales growth is highly dependent on strong economic conditions of Trinidad, as well as its thriving levels of tourism. Sales growth increases by 101% between 2006 and 2007. This growth is mainly attributed to the retail consumption, rather than the expected wholesale and delivery portion of the company. An increase in inventory was necessary to accommodate the increase in demand for that sector. With that said, the Stone brothers found it crucial to find funding to expand their retail business.
Increases in sales further suggest that their marketing strategies are efficient and helping to give their business more recognition. Wine tasting events and special promotions help endorse their name and product, while their wine club promotes repeating clientele. This advances their competitive position for More Vino LTD. Additionally; their imported wine creates another advantage in contrast to their competitors by allowing more variety and differentiating value apart from the average wine sellers in Port of Spain. All of these facts and advantages