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Product semantics and wine portfolio optimisation

Author

Listed:
  • Erin MacDonald
  • Alexis Lubensky
  • Bryon Sohns
  • Panos Y. Papalambros

Abstract

Semantics is an important aspect of product design. Quantitative models of product semantics can enhance product decisions and positively contribute to a product's market position. This paper demonstrates the value of linking product semantics, design, pricing and manufacturing decisions in a wine-making optimisation problem. A manufacturing model of the wine-making process allows manipulation and optimisation of wine flavours. Wine bottle shapes are designed using conjoint analysis to convey semantic messages of wine flavour. The shape and flavour models are combined to maximise profitability of a portfolio of wines with different flavours, price points, quantities produced, and matching bottles. Semantics are shown to enhance the portfolio, including profitability.

Suggested Citation

  • Erin MacDonald & Alexis Lubensky & Bryon Sohns & Panos Y. Papalambros, 2009. "Product semantics and wine portfolio optimisation," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 7(1/2), pages 73-98.
    • Handle: RePEc:ids:ijpdev:v:7:y:2009:i:1/2:p:73-98
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