96487 - Economics and Marketing of Wines and Food Products

Learning outcomes

The course aims at providing students with the capacity to define the business and organizational strategies of the food and wine industries from market and consumer-satisfaction perspectives, as well as the skills to use economic analysis tools and marketing levers related to these products.

Course contents

Module 1: Economics of Food and Wine Products

Principles of Economics Applied to Food and Wine Products:

• The object of economic study and the development of its fundamental concepts

• Demand analysis and consumer behavior

• Production analysis and entrepreneurial behavior

• Cost analysis and the firm's supply curve

• Market equilibrium in competitive markets

• Elasticity of demand and supply

• The specific features of food demand and supply

• Market structure analysis: monopoly, oligopoly, and monopolistic competition

Agri-food System, Food and Wine Product Supply Chains, and Agri-food Policies:

• The Italian agri-food system and its importance in the national economy

• Analysis of Italy’s agri-food trade balance

• Food and wine product supply chains

• The restaurant and food service sector

• Agri-food policies

 

Module 2: Marketing of Food and Wine Products

The purpose of marketing:

• Definition and scope of action

• Strategic marketing and operational marketing

Strategic marketing:

• The food and wine marketing process and its planning

• Market research

• Consumer behavior for food and wine products and market segmentation

• Product differentiation and product portfolio analysis

Operational marketing:

• Product strategies

• Pricing strategies

• Placement strategies

• Promotion strategies

Group work: Development of a marketing plan.

Readings/Bibliography

Lectures' notes (downloadable from the UNIBO teaching platform "Virtuale")

Teaching methods

During the course, some case studies on the economic management of food and wine businesses and the policies of the food and wine industries will be examined and discussed.

Assessment methods

The exam is conducted through a multiple-choice test. The test consists of 30 questions to be answered within a maximum time of 30 minutes. Scoring Criteria:

• 1 point is awarded for each correct answer

• 0.5 points are deducted for each incorrect answer

• 0 points are assigned for unanswered questions

The final score will correspond to the total number of points earned, rounded down to the nearest whole number. The exam is considered passed with a minimum score of 18 out of 30.

At the student’s request, if the written test is passed, the instructor may supplement the test with one or more oral questions. Honors (cum laude) may be awarded with a score of 30/30 on the written test, supplemented by an oral exam.

The evaluation of the oral component will take into account the student’s knowledge of the topics covered in class and his capacity to master the subject-specific terminology

The development of activities during class, as agreed upon with the instructor, may also contribute to the final grade, based on methods defined on a case-by-case basis.

Teaching tools

Distribution of teaching materials and teaching assistance through the Unibo's web platform "Virtuale".

Office hours

See the website of Massimo Canali