WSET LEVEL 4 D2 EXAM WITH CORRECT 180+ QUESTIONS WITH CORRECTRY ANALYZED ANSWERS (ACTUAL EXAM) ALREADY GRADED A+ LATEST 2024 What is the goal of marketing? - ANSWERS -To create profits either through volume of sales or value of sales What is considered a successful campaign? - ANSWERS -Marketing campaign costs money and resources. A successful one achieves adequate level of profit within a specified timetable Cite key stages of successful marketing - ANSWERS -- Identifying the product/brand to be marketed - Analyzing the current market - Identifying the target market - Setting the objectives of the marketing strategy - Devising the marketing strategy (the marketing mix) - Implementing and monitoring the marketing strategy List major social factors affecting demand for wine - ANSWERS -- Change in consumption habits - Change in consumer preferences - Change in reputation - Change in spending patterns Describe how global wine consumption habits have changed since 2001 - ANSWERS -- Rapid growth in the first part of 2000 - Fall after 2008 financial crisis as many consumers reduce spending on non -
essential products - Slight decline in recent years and due to remain stable to 2021 - Strong growth in sparkl ing wine sales Top five countries for total wine consumption in 2017 - ANSWERS -- USA - France - Italy - Germany - China Describe what happens when relative supply and demand change - ANSWERS -- When supply exceeds demand: price falls, consumer have greater choice of cheaper alternatives. Producers lower price to remain competitive. Fall in prices lead to increased demand in the long run - When demand exceeds supply: price increase, consumers willing to pay higher for some wines; others simply switch to another wine or a different alcoholic drink The general factors affecting demand for wine - ANSWERS -- Social - Economic - Legislative - Political Explain the increasing wine consumption in USA in the last 20 -30 yr - ANSWERS -- Increasing globalization of the food and drinks indust ry - Consumers more able and willing to embrace new tastes - Increases and improvement in wine production in the domestic market Explain the increasing wine consumption in China - ANSWERS -- Growing middle class showing wealth and status - move away from l ocal drinks - Aspire to drink imported wine - Bilateral trade agreement with Australia, Chile etc Give possible reasons for falling wine consumption in traditional wine -drinking countries - ANSWERS -- Younger people drinking less wine: old fashioned; less time in bars, more on social media - Health concerns: mostly due to government campaigns, e.g., Loi Evin in France - Changes in lifestyle: less time for longer meals, less lunchtime drinking - Reduced availability of cheap wine: reduce over -production, some consumers switch to cheaper alcoholic drinks List a few major changes in consumer preferences in recent years - ANSWERS -- Rose and Prosecco become popular - Increased demand for lower -alcohol wines - Medium -sweet German wines and fortified wines going out of fashion What factors could influence a wine's reputation? - ANSWERS -- Good reviews from lead ing publications and critics - Online influencers and KOLs - Presence in popular culture, e.g., films television series, music lyrics or celebrity lifestyle news - Peer opinions What are price -sensitive markets? Give examples - ANSWERS -Markets where consu mers are unwilling to pay more than the lowest price possible for the style of wine they want to buy. E.g., Germany, UK
essential products - Slight decline in recent years and due to remain stable to 2021 - Strong growth in sparkl ing wine sales Top five countries for total wine consumption in 2017 - ANSWERS -- USA - France - Italy - Germany - China Describe what happens when relative supply and demand change - ANSWERS -- When supply exceeds demand: price falls, consumer have greater choice of cheaper alternatives. Producers lower price to remain competitive. Fall in prices lead to increased demand in the long run - When demand exceeds supply: price increase, consumers willing to pay higher for some wines; others simply switch to another wine or a different alcoholic drink The general factors affecting demand for wine - ANSWERS -- Social - Economic - Legislative - Political Explain the increasing wine consumption in USA in the last 20 -30 yr - ANSWERS -- Increasing globalization of the food and drinks indust ry - Consumers more able and willing to embrace new tastes - Increases and improvement in wine production in the domestic market Explain the increasing wine consumption in China - ANSWERS -- Growing middle class showing wealth and status - move away from l ocal drinks - Aspire to drink imported wine - Bilateral trade agreement with Australia, Chile etc Give possible reasons for falling wine consumption in traditional wine -drinking countries - ANSWERS -- Younger people drinking less wine: old fashioned; less time in bars, more on social media - Health concerns: mostly due to government campaigns, e.g., Loi Evin in France - Changes in lifestyle: less time for longer meals, less lunchtime drinking - Reduced availability of cheap wine: reduce over -production, some consumers switch to cheaper alcoholic drinks List a few major changes in consumer preferences in recent years - ANSWERS -- Rose and Prosecco become popular - Increased demand for lower -alcohol wines - Medium -sweet German wines and fortified wines going out of fashion What factors could influence a wine's reputation? - ANSWERS -- Good reviews from lead ing publications and critics - Online influencers and KOLs - Presence in popular culture, e.g., films television series, music lyrics or celebrity lifestyle news - Peer opinions What are price -sensitive markets? Give examples - ANSWERS -Markets where consu mers are unwilling to pay more than the lowest price possible for the style of wine they want to buy. E.g., Germany, UK
