Opportunities to profit under competitive market conditions: The case of the Macedonian wineries

Nenad Georgiev, Dragon Gjosevski, Ana Simonovska and Marina Nacka

No 211650, 2015 Conference, August 9-14, 2015, Milan, Italy from International Association of Agricultural Economists

Abstract: Building a recognizable brand for the Macedonian wine and higher values in intellectual property assets is the core for strengthening the wineries’ international market position. This paper attempts to identify Macedonian wineries’ opportunities to profit under competitive market conditions. Therefore, we first interpret evidence on determinants of their profitability, then we present their commitment towards intellectual property rights, and finally we describe a successful case of a winery that has a recognized brand internationally. The results indicated that wineries are not attractive investments if intensive marketing strategies in creation of strong brand equity are not strongly supported. The use of innovations, creativity and protection of intellectual property rights, could be successful strategy in increasing the opportunities to profit. The defined winery as distinctive case may be used as a guideline to reinforce wineries’ possibilities to follow future market signals, while struggling to adjust to the imposed market oriented production.

Keywords: Marketing (search for similar items in EconPapers)
Pages: 22
Date: 2015
New Economics Papers: this item is included in nep-ino, nep-ipr, nep-pr~, nep-mkt and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae15:211650

DOI: 10.22004/ag.econ.211650

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