Abstract
This paper examines the transition of wine as a product to wine as a service, with a particular focus on the role of documentaries. Innovation is an important theoretical lens for examination of this transition. Two types of innovations, market-driven innovation and market-driving innovation, are closely related to wine consumption as a material purchase and as an experiential purchase, respectively. Market-driven innovation is product-level innovation in response to existing needs. Market-driving innovation is market-shaping and reimaginings of value propositions by forming new sets of relationships between various market actors. Market-driving innovation becomes important as the experiential purchase of wine rises. Consumer reviews on wine documentaries were examined with topic modeling and multi-dimensional scaling methods to investigate this innovation. Analysis revealed underlying dimensions (consumer’s participation and value proposition) of market-driving innovation and market shaping, which can be explained through the consumer experience paradigm (4E principles: Escapism, Education, Esthetics, and Entertainment). Theoretical and managerial implications are discussed to advance the scholarship of market-driving innovation in the wine market.
Highlights
The wine market has evolved to include technology driven experiential aspects in wine consumption, transitioning from wine as a product to wine as a service as consumers seek experiential purchases
This market-driven innovation view is an instructive explanation to changes in physical wine consumption rituals in the mature and defined market; but it lacks our understanding of shaping a new market opportunity for a novel value proposition by engaging with market actors through virtual wine experiences
Value proposition is defined as emerging value from substantial interactions between market actors via a market offering, which lies in the continuum of value-in-exchange and value-in-use (Vargo, 2011)
Summary
The wine market has evolved to include technology driven experiential aspects in wine consumption, transitioning from wine as a product to wine as a service as consumers seek experiential purchases. Research on consumer perception of new wine product attributes (e.g., Biodynamic wine) shows how market-driven innovation responds to the rise of eco-consciousness among existing consumers (Fernández, 2019; Scozzafava et al, 2021). This market-driven innovation view is an instructive explanation to changes in physical wine consumption rituals in the mature and defined market; but it lacks our understanding of shaping a new market opportunity for a novel value proposition by engaging with market actors through virtual wine experiences
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