Executive Summary-Wine

Executive Summary-Wine - Engineering Wine Submitted to Dr....

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Engineering Wine Submitted to Dr. Miguel Bagajewicz May 6, 2006 Susan L. Kerr Michael T. Frow
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2 Executive Summary A new methodology for the development of new products is applied to winemaking. A consumer preference function is developed that allows data generated by market analysis to be related to wine properties. These wine properties are easily measured throughout the winemaking process and can be manipulated by the producer at negligible cost. The manipulation of these variables affects the consumer’s satisfaction obtained from the enjoyment of wine. The most influential factor is identified to be that of toasting. Through incorporation of this consumer function, a demand model is formed that allows for the manipulation in selling price. Based on the consumer and the pricing models, a profit maximization model is formed. This function shows the characteristics of wine to target the selling price and capacity of the manufacturing plant simultaneously. Wine is evaluated by the consumer with the following characteristics:
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This note was uploaded on 08/31/2011 for the course CHE 4273 taught by Professor Staff during the Spring '10 term at Oklahoma State.

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Executive Summary-Wine - Engineering Wine Submitted to Dr....

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