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

Author

Listed:
  • Georgiev, Nenad
  • Gjosevski, Dragon
  • Simonovska, Ana
  • Nacka, Marina

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.

Suggested Citation

  • Georgiev, Nenad & Gjosevski, Dragon & Simonovska, Ana & Nacka, Marina, 2015. "Opportunities to profit under competitive market conditions: The case of the Macedonian wineries," 2015 Conference, August 9-14, 2015, Milan, Italy 211650, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae15:211650
    DOI: 10.22004/ag.econ.211650
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    References listed on IDEAS

    as
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    4. Edward I. Altman, 1968. "The Prediction Of Corporate Bankruptcy: A Discriminant Analysis," Journal of Finance, American Finance Association, vol. 23(1), pages 193-194, March.
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