YELLOW TAIL WINE AND ENTREPRENEURSHIP ESSAY

“Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service.”

Introduction:

According to the 2011 Power 100 Report, [yellow tail] has emerged to be ranked as the most powerful Australian wine brand in the world and it also fetched the 37th position on the chart of top 100 wine and spirit brands globally (Yellowtailwine, 2011).

But this tremendous success for [yellow tail] did not come easily. The company adopted some innovative business ideas and strategies to compete and enter into a bloody red-ocean American wine industry comprising 1600 wineries characterizing intense competition, increasing bargaining power on the part of the retail and distribution channels, flat demand and mounting pressure (ChicagoTribune, 2010).

Analysis of key factors of Success:

a fun and nontraditional wine, is a dramatic example of a Blue Ocean Strategy. Its success can be attributed to the Four Actions Framework and differentiation not based on traditional factors of low cost or offering premium quality and strategic logic benchmarking. It assessed the alternatives to bring easy to drink a fun and non-traditional wine in the U.S wine market (TheAustralian,  2011).

 

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