Factors that determine the perceived value of wine and

the consumers satisfaction level.

Triantafyllou G.*
PhD candidate, University of the Aegean, Greece, Chios, 8 Michalon str.

Dr. Lymperopoulos K.
Professor, University of the Aegean, Creece, Chios, 8 Michalon str.

Dr. Lagos D.
Professor, University of the Aegean, Creece, Chios, 8 Michalon str.
*e-mail: gtriant@ba.aegean.gr
Abstract
The purpose of the present research is dual. Primarily, it constitutes an attempt to be displayed and analyzed quality,
price and packaging as factors which determine consumers perceptions in respect of the perceived value of wine.
In particular, in the case of wine, the factor quality has two dimensions, the objective, which is correlated with its internal
features, such as the procedure of production, vinification, maturation and the subjective one, which is related to the brand
name, the price, the country of origin et.c. (Hall and Mitchell, 2008, p. 92). In terms of the price, that is defined after the
estimation of combined elements, such as the cost of wine production and preservation, the investment capital, the
comparison with competitors products, the marketing trends, the attributes of different target groups (Avlonitis,
Lymperopoulos, Tzanavaras, 2010:256-258). As for the packaging, it is common belief that it constitutes an enjoyable
way for someone to choose wine either he is a high involvement consumer or not. According to Rocchi and Stefani (2005),
the shape and the color of the bottle, the shapes and the drawings of label, the name of the wine attract consumers attention
and affect their final choices.
In our study, we are focused on examining how those factors contribute to the assessment of value of wine as well as in
what extend they create expectations that incite some consumers and discourage others from purchasing and consumption of
different kinds of wine.
The second leg of the research is relevant with the study of the satisfaction level which derives from each wine that
consumers choose to purchase because of its perceived value. Specifically, what is examined is how that satisfaction or
dissatisfaction is expressed through the establishment of particular consumers behaviors and attitudes towards the product
itself and its accompanied services (Lymperopoulos, 2004). In the end, it is being an effort to be examined the way in which
the three components -quality, price and packaging - form the perceived value of wine and how this perceived value
is influential to the definition of satisfaction level, in reference to the consumer. We are interested in understanding how
each one of these components leads to the initial decision of selecting a wine among others and how they are connected with
the consumers satisfaction after the purchase and consumption of wine.
Through the general purpose, namely the description and the evaluation of the criteria for selecting wine as well as of the
purchasing behavior that is displayed nowadays by the wine consumers- considering the changes in market transactions
along with the reduction of the general cost of the product on account of the technological progress- it is being tried:
A) to be determined the main trends that define the wine marketing mix and to be demonstrated their dependence to the
different demographic and ethnological attributes of each country or region, which in turn, necessitates their adjustment.
) to be defined those criteria according to which it is assessed the influence of perceived value on strengthening the
consumers loyalty to wine products.
C) to be divided the consumers attitudes towards the elements that consist the perceived value with regard to the level of
their involvement to wine.
The methods that were used for carrying out this research are the survey research and the experiment. The questionnaire and
the experimental projects were used as the methodological instruments of the study. Concerning its sample, they were
included costumers from selling wine points such as wineries, wine cellars, restaurants, hotels, malls et.c.
The research was divided in two parts. In the first place, a pilot research was implied, with the aim of trying the efficacy of
searching instruments. Then, the main study is going to follow, enriched with the improved changes which have been arisen
by the pilot research. Heraklion of Crete is the place where the pilot research was conducted. Heraklion is the fifth major
city of Greece which combines urban with rural features along with great tourist attendance. Questionnaires were distributed
and completed in situ. Moreover, it was implied the preliminary experimental project of dual measurement upon one group.
The features of the group members are not similar so as to be ensured the randomness of the sample (Cohen and Manion,
1997:229- 257).

For the conduct of the main research, questionnaires are being distributed with improved changes in the contents and the
types of questions. Additionally, it is carried out the experimental project of double measurements with the use of control
group. The members of the two groups are selected with the method of random sampling in order to ensure their equality.
The experiment will take place in wineries and wine cellars where festivals and events for the public are organized.
As for the control of the results, the responses of the questionnaires will be analyzed with the use of Structural Equation
Modeling for the reason that it allows a more accurate measurement of relations between dependent and independent
variables. Concerning the experiment, the statistical control of means for the experimental group as well as for the controlgroup, will be done by the use of t-test.
The combination of the two methods was adapted with the perspective to ensure the reliability of the results and the deeper
comprehension of consumers different motives and expectations while they choose wines.
Results of this study will provide us with valuable information as regards the transformation and implementation of more
effective marketing strategies.
Key Words: expectations, perceived value, satisfaction level, customer behavior, loyalty