What Should Chateau Margaux Do
Chateau Margaux, in Bordeaux region, has been the most splendid wines for many years with excellent reputation. Being the designated wine in the French State Banquet, the reputation is universal. There is limited room for the improvement of the brand images. With the rapid growth in the worldwide wine market, it is time for Chateau Margaux penetrating into it. China, one of the markets with rapid growth in economy, will be one of the best options. With the large population and growth in economy, the China wine market has expanded rapidly, especially for the wine in Bordeaux region.
From the statistic from the China Wine Information Website, the import of wine from Bordeaux region has increased 82% in 2007 and soared 21 times in 8 years time. There is really a great opportunity for Chateau Margaux entering this huge potential market. In order to enter the China wine market, the top priority is to promote the brand and products. After cultivating in China market for years, French wines has become the pronoun of romance and elegance, and even the symbol of luxury.
It is suggested that Chateau Margaux should set up a luxury store with wine cellar in China. The main purpose of the setting up is not selling wines in the stores, but increasing the publicity of the brand and products by holding different kinds of function. Since the first step is to let people know about Chateau Margaux, it is a good idea for Chateau Margaux inviting celebrities and wine critics to the open ceremony of the luxury store. Press conference can also be held to introduce Chateau Margaux to the public.
This will be the stepping stone for Chateau Margaux entering the China market. As new to the China market, it is essential for Chateau Margaux taking part in some exhibitions and also wine tasting events, like the 2008China International Wine & Liquor Expo. In participating in the 2008China International Wine & Liquor Expo, which is the biggest wine professional exhibition in China, Chateau Margaux can let consumers know more about the products and even can take the benefits from the upcoming 2008 Beijing Olympic Game.
However, during all the promoting functions, it is important to keep the image, “Chateau Margaux is a grand and luxury product” After promoting the brand and products to the public, Chateau Margaux should react quickly to suit with the China wine market. As most of the potential consumers in China are new to the high-end wine, they would like to know more information about the particular wine or even particular vintage, which is not included in the label of Chateau Margaux.
A booklet introducing different Chateau Margaux wines will be published to let consumers have more in-depth information. Besides, it is possible for Chateau Margaux co-operating with China food enterprises since wine paired with food will be one of the ways to promote the products. Since the wine market in the rising economies countries like China increased so quickly, getting market shares in these places as quick as possible will promote the future growth of Chateau Margaux to the worldwide wine market.
