The Secco Wine Club Experience
By: Ricardo Cardoza Bejarano
This semester through the Student International Business Council (SIBC), I had the opportunity to lead a team of 10 business students of different majors on a market analysis project consulting the leaders of Secco Wine Club. Even though we worked in a virtual setting throughout the semester, we were able to provide an insightful and content-rich presentation about Secco's marketing strategy.
We had identified market segments that would be attracted to Secco’s brand new low-carb and low-sugar KETO wine. In our research phase, through the process of elimination we sorted different markets that would best identify with Secco’s product offerings and brand. Every team member researched and analyzed data behind every market to find its most appealing aspects and potential. We ended up with five market segments that we proposed to Secco’s leadership in our presentation. This was a challenging phase as every other meeting new information was uncovered that could undo our past work. We were able to push through these difficulties and provide a concise description of our chosen market segments.
The next phase of our presentation was providing a price point analysis of Secco's new KETO wine and determining if its price would be reasonable for customers. A group within our team conducted an industry and pricing analysis of imported wine, which required providing context about the state of the wine industry in the US and how the pandemic affected its growth.
The last phase of our presentation was providing insights for social media growth which would tie with the Messaging team’s presentation. Another group within our team underwent a social media audit of Secco and its competitors. They identified which social media platforms were used and how active each business was in every one of them. They provided tools on how to measure social media growth and which platforms are most useful for a wine company. To finalize our presentation, we gave recommendations for social media collaborations and growth.
This was a rewarding experience as every team member, including myself, was passionate about the topic they researched and talked about in the presentation. Our advisor, Nena Koseva guided us through every phase and helped us keep on track before the day of our presentation. I had a great time conversing with team members and interchanging ideas about Secco’s marketing strategy.
I want to thank all my team members who arduously worked, all our advisors who guided us every step of the way, and Matt and Luca who gave us the opportunity to consult their business. I am excited to see the collaborative work that awaits us next semester.