Evaluate the business and industry below and evaluate its
Business Management
Evaluate the business and industry below and evaluate its chances for success.
INDUSTRY SNAPSHOT:
In the February 2014 issue of Wine Enthusiast. The Texas Hill Country Wine Region was named of the 10 Best Wine Travel Destinations for 2014. The Texas Hill Country wine region is quickly gaining national prominence for its large number of wineries in a close proximity and for its award-winning wineries with diverse varietals. Here are a few facts on the Texas Hill Country wine region: Nearly 1 million wine enthusiasts visit Texas wineries annually The Texas Hill Country wine region is the second largest in the country rivaling the world-renowned Napa Valley region Wine industry provides a $1.7 Billion of economic value to the state of Texas
THE CONCEPT:
Imagine you are developing a high quality winery start up in Fredericksburg, Texas to include a retail store, tasting room, wine tours, hospitality accommodations such as lodging, a restaurant and bar, as well as meeting rooms for corporate retreats with a vision of establishing a producing vineyard. What research supports your conclusion? Are there any conceptual alterations (e.g., market positioning, niche targeting, differentiation strategy, barriers to entry, etc.) that could make the business (more) successful?
