The Crurated Revolution: Connecting People with Fine Wines Through Blockchain Technology

Name: The Crurated Revolution: Connecting People with Fine Wines Through Blockchain Technology (English version)
SKU: IN-1928

Dubois, David; Martin Garcia, Lidia

Product #:IN-1928

Supplier:INSEAD

Discipline:Marketing

Details:Case (PDF) • 12 pages • 2023-06-21

Subjects:

Marketing Psychology Innovation Business models Pricing strategy Blockchain Marketing strategy Product management Disruptive innovation

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Crurated, a start-up founded in 2019, combines various technologies to address previously unmet needs in the fine wine market through a bold marketing approach. The innovative ecommerce marketplace enables high-end consumers to connect with and purchase wine from renowned producers. Stepping into the shoes of founder Alfonso De Gaetano, students analyse how value is created through status-building across the product life cycle, identify opportunities to fix market failures and address unmet customer needs, combine technological solutions to articulate an effective value proposition, and formulate approaches to product, pricing, placement and promotion.

Learning Objectives

1. To present a framework for how value (and particularly status perceptions) is created in high-end markets such as fine wine, and identify pain points for different actors at various point of the value chain. Bridges with other industries (fashion, jewellery) are possible. 2. To describe a process for when technologies do (or do not) support new business models by carving out a unique competitive advantage (by enabling feedback loops along the product life cycle). 3. To formulate an effective value proposition given the needs of the target segment, and learn how to create value through superior execution of the 4Ps (product/technology, price, place and promotion).