International Marketing Plan. Business & Marketing

International Marketing
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The wine industry and industry structure
Size of the wine industry
The wine industry has recorded significant growth across all parts of the world; this is mainly attributed to the integral role of wine in different cultures. By 2018, the global wine industry was worth over three hundred billion euros, and by 2023, it is estimated that the industry will be worth more than four hundred billion euros (Oloruntoba, 2020). Besides, the win market is expected to grow with a compound annual growth rate of 9.8%. Most importantly, the win market is driven by the high demand for wine, which is linked to the health benefits as well as, premiumization of win products. The average cost of wine in the United Kingdom is about 12 euros, but the price has significantly over the years. The wine industry is highly centralized in western and central Europe, which forms almost thirty percent of the business.
The wine industry in the United Kingdom
It is critical to note that the total area for wine production in the United Kingdom has significantly increased over the years. In 2018, there were over 1900 hectares of land used for wine production in the United Kingdom (Wunsch, 2019). Besides, in terms of wine production, there were close to 120,000 hectoliters of wine produced in the United Kingdom in 2018. It is critical to comprehend that wine produced in the United Kingdom has slowly gained international recognition from different markets, and this has increased sales recorded from both domestic and international markets. The growth of demand and demand for wine in the United Kingdom can be demonstrated by the increase of acreage of vineyards which have almost doubled from 2008 to 2018. Besides, there are different challenges that are faced by large wine producers in the United Kingdom, such as high competition from medium producers and other brands imported from other European countries.
The current situation for Berry Brothers & Rudd
Berry Brothers & Rudd (BBR) is the oldest wine and spirit supplier in the United Kingdom. It was established in the 17th century under the presidency of Widow Bourne and grew in fame until it became one of the suppliers of the imperial household from the time of King George III. It also had among its customers the Aga Khan, Lord Byron, and William Pitt the Younger. The business has evolved with the time that it even has an online shop for selling its wine, which it launched in 1994. BBR deals in corporate entertainment, wine schools and tastings, a wine club, and guidance on fine wine venture. The business also owns Berry’s Broking Exchange (BBX), a fine wine transaction podium through which people are able to sell and buy wines that are warehoused in the company’s store. Additionally, BBR was the first company to establish an online wine shop and also opened a platform that made it possible for consumers to sell and buy wine from the firm’s bonded warehouse. It is crucial to comprehend that the company has realized a considerable potential in overseas business, which has increased the company’s interest to venture into the Chinese market.
Chinese wine market
It is critical to understand that imported wines in China a...