IntroductionThe area of Wine Marketing has not been recognised as a formal area withinmarketing or business. However, the number of practioners world –wide and now thenumber of academics working in this area has grown. As little as 10 years ago, themajor journal in the area, The International Journal of Wine Marketing, was the onlyoutlet for publishing in this area. Programs, like the diploma of Wine Marketing atthe University of Adelaide (formerly Roseworthy Agricultural College), were limitedin number and scope. Most of these programs used standard marketing and businesstextbooks, with added assignments for the wine industry. This was mainly due to thedearth of empirical research in wine marketing.In a short period of time this situation has changed dramatically. There are nowuniversity programs in various aspects of wine marketing and wine business in mostwine producing countries and a few of the major wine consuming countries, like theUK. Many of these programs are offered at postgraduate as well as undergraduatelevel and are beginning to utilise the growing body of research on this sector.What do we know empirically about wine marketing? This question is much toobroad to answer within the confines of one paper. Wine marketing includes manysub-areas of research. Traditionally, we would speak of the 4 Ps of marketing,product, pricing, promotion, and placement and their concomitant areas in winemarketing, such as branding, new product development, pricing, public relations,managing the sales force, and distribution. Beyond this, the area wine marketingshould include specialty topics, such as consumer behaviour for wine, wine tourismand cellar door (direct sales), supply chain management from the vineyard andsupplier to the end user, labelling and packaging, wine events, medals and showawards, promotional activities, exporting including market choice and channel withinmarket choice, selecting and managing agents, protecting intellectual property (namesand logos), and world regulation of wine and alcohol. Each of these areas has seensome research in the past decade and each could be the subject of a review such asthis one.The area of wine choice behaviour was chosen for its critical influence in many of theother areas cited enough. If we can understand how consumers choose wine, then wehave a much better framework to decide pricing, packaging, distribution, advertising,and merchandising strategies. These strategies then set the agenda for furtherdevelopment in the related areas of supply chain management, sales management, andeven export management. First, a brief overview of the differences between winemarketing and FMCG (fast moving consumer goods) will be provided. This paperwill then review the key, but limited research in wine choice behaviour. The reviewwill be summarised and the key areas for future research outlined.Why does wine need a special review, rather than rely on existing research inconsumer choice behaviour? Wine is sold in grocery stores in most major consumingcountries. In fact data from Euromonitor (2001) that grocery and discount storechannels account for over 50% of wine sold in Italy, and over 70% of wine sold in theUK, the US, Germany and France. In some countries, like Australia, wine is not

legally sold in supermarkets, but over 50% of the specialist retailers are owned by themajor supermarket chains. These facts should indicate that wine is a fast movingconsumer good, or packaged good (in the US). But, where most supermarketcategories have 10 or so brands, wine typically has over 700. In some supermarketswell over 1000 different wines are stocked. Also, consumers purchase brands ofproducts, and the brand names are the key unit of decision (Ehrenberg 1988).Although more and more wines, especially those from the New World, carry brandnames, there are many different cues on the package that influence purchase, eg., theregion, sub-region and country of origin, the vintage date, the grape variety or blend,the producer or negotiant (blender of the wines), style (eg, bottle fermented, lateharvest), the wine maker, and the specific vineyard. The result is that consumerchoice for wine is more complex than the choice for many other products. It mightbe argued that automobiles are one of the few product categories that rival thecomplexity of the wine category, but cars are not purchased so frequently.

1.4 RESEARCH METHODOLOGY

Methodology is the process of collecting the information and helps to find out the

solution to the topic selected by the researcher. Where as research helps to study and find

out the techniques with the proper process. It is a systematic way of presenting

information.

In order to collect the required information for the project the following methods

were adopted:

PRIMARY DATA:

The concern staff of Sula Wines was interviewed personally. The data was collected with

the purpose of evaluation.

Discussion with the finance manager regarding the figure of balance sheet.

Collection of information related to working capital from other members of the

accounts department of the organization.

SECONDARY DATA:

Secondary data is provided by the organization. The needed information is collected

from:

Balance sheet of Sula Wines 2004-08

Books of accounts of Sula Wines 2004-08

Annual reports of Sula Wines 2004-08

The present study is aimed at to analyze the working capital analysis of Sula Wines, by coving yearly financial data supplied in the company’s financial accounts.

METHODOLOGY OF THE STUDY

Methodology of the projecto Safety health and environment measures are studied. For research part

collected data in two parts.

DATA COLLECTION1. Primary data2. Secondary data

1. Primary data : - the primary data are those, which are collected fresh and for, first time and thus happen to be original in character.

For that different methods used like-a) Questionnaire: - it is considered as the heart of a survey operation. It is very

effective source of data and information.

b) Open ended interview witho Operatorso Supervisorso Canteen contractor

o Environment consultanto Managerso Administration dept.o Personnel dept staff.

2. Secondary data : - these are sources containing data which have been collected and compiled laid for another purpose. The secondary sources consist of readily available compendia and already compiled statistical statements and reports whose data may be used by researchers for their studies. Secondary sources consist of not only published records but also unpublished data.

o Interneto Magazineso Safety, health and environment journalso Books

COMPANY PROFILE

Name of the company: Nashik Vintners Pvt. Ltd.

Year of establishment: 2000Address: Gat 36/2, Govardhan village Off Gangapur-Savargaon Road, Nashik – 422 222.

Name of Group:

Nature of Production: Wine Manufacturing

Industry Category: Grape Wine Industry.

Managing Director: Mr. Rajeev Suresh Samant

PRODUCT PROFILE

ROSÉ

Sula blush zinfandel Madera rosé

RED

Dindori reserve Shiraz sula red zinfandel

SPARKLING

Sula brut* Saco

WHITE

Sula sauvignon Blanc* sula Chenin Blanc*

Madera white Viognier**

Dia white samara white

Riesling

DESSERT

Late harvest Chenin Blanc

PRODUCT PROFILE

ROSÉ

Sula blush zinfandel Madera rosé

RED

Dindori reserve Shiraz sula red zinfandel

SPARKLING

Sula brut* Saco

WHITE

Sula sauvignon Blanc* sula Chenin Blanc*

Madera white Viognier**

Dia white samara white

Riesling

DESSERT

Late harvest Chenin Blanc

HISTORY OF THE SULA WINE LIMITED

Situated 180 km northeast of Mumbai, Nashik is India's largest grape-growing region, but had traditionally never been used to grow wine grapes. Wondering why, an enterprising, Stanford-trained engineer named Rajeev Samant quit his hi-tech Silicon Valley job in 1993 to do some investigating. A little research quickly showed that the Nashik climate was not only perfect for wine grapes, but was also on par with winegrowing regions in Spain, California, and Australia. His determination doubled, Rajeev returned to California in search of a winemaker. In Sonoma County he found Kerry Damskey, an eminent Californian winemaker, who enthusiastically agreed to help start a winery on Rajeev's 30 acre family estate.

In 1997, the duo took the revolutionary step of planting French Sauvignon Blanc and Californian Chenin Blanc, varieties that had never before been planted in India. The first Sula wines,

released in 2000, were widely acclaimed as India's best white wines.

Since its inception, Sula has rapidly established itself as India's leading premium wine brand, helping spark a wine revolution that has seen consumption grow at 25% annually and several new wineries come up in the Nashik area. In November 2002, Wine Spectator - the world's No.1 wine magazine - did a five-page feature on Sula, a proud first for an Indian winery.

A second winery with three times the capacity of the first was completed in late 2004 to keep up with demand, and a third

million litre winery started operations in 2006. Sula has expanded from the original 30 acre family estate to about 1500 acres (owned and contracted) under plantation, both in Nashik as well as in nearby Dindori, India's upcoming wine region. Varietals planted include Cabernet Sauvignon, Shiraz, Zinfandel and Merlot along with Chenin Blanc, Sauvignon Blanc, Viognier and Riesling. In addition to having a wide national distribution network within India, Sula also exports its wines internationally, as well as importing and distributing wines fromleading producers worldwide.

In 2005, Sula proudly launched its first reserve wine, the Dindori Reserve Shiraz, as well as India's first dessert wine, the Late Harvest Chenin Blanc. The winery and vineyards are open to the public for educational tours, and the beautiful Tasting Room invites visitors to enjoy their favorite Sula wines amidst spectacular views of the vineyards and surrounding lakes and hills. The nearby Sula amphitheatre is an impressive location for

events and social gatherings and is available for bookings. Visitors can now spend a few nights in paradise at BEYOND, Sula's new exclusive accommodation on the vineyards with a beautiful lake view.

Firmly committed to remaining at the forefront of Indian wines, Sula continues to experiment with new varietals, engage in sustainable agriculture, support the local rural economy, and, of course, make wines of outstanding quality and superb value.

SULA WINE – MILESTONES”

“The conviction to take the un-chartered path”

1992- Stanford-trained engineer, Rajeev Samant quits his job as Finance Manager at Oracle in Silicon Valley and heads home to his family-owned Lands in Nashik, India…

1993 – Samant realizes that since Nashik is the largest table grape growing region, it has potential to grow wine grapes as well and so he begins his research….

1994 – Samant goes back to Sonoma Country, California where he enlists friend and renowned winemaking consultant, Kerry Damskey, to help him start building the winery in Nashik….

“To make good wine you need a beautiful winery”

1995 – Damskey takes on the adventure to visit Nashik for the first time in his life….

2000 – Sula vineyards release its first 3 wines. The country has never seen Sauvignon Blanc, Chenin Blanc, or Methode Champenoise sparkling wine quite like these…

-Not only Sula faces problems with Government regulations and licensing policy, but people are hesitant to taste Indian wines. However, a great new wine coupled with an ever greater persistence cannot be ignored for long and soon people begin to warm up to the idea….

2001 – It takes the 6 months to make the first dispatch from the winery. Sula’s first year is a success with 4,000 cases being dispatch from the winery.

“Sula wines – a runaway success”

2002 – ‘Wine Spectator’, the world’s no.1 wine magazine, does a five-page feature on Sula, a proud first for an Indian wine, but good wine in general !

DISPATCHLABELINGDOSING & CORKINGDISGORGING

RIDLING AGEING 6-8 MONTHS BOTTLING LABELING

BOTTLINGSUGAR & YEAST

SPARKLING WINE PROCESS

BASE STILL WINECOLD TREATMENTBASE WINE

PACKING FERMENT-ATION SETTLING

CHILLINGPRESSGRAPE

2003 – Sula crosses 40,000 cases of wine for the year and people come to recognize Sula as the leader in Indian wine

PRODUCTION PROCESS

MAJOR CUSTOMER

Italy FinlandUSA-California GermanyUSA-New York JapanBelgium NigeriaCANADA-Ontario SpainCANADA-Quebec South KoreaUK United Arab Emirates

France

BALANCE SHEET

2007 – 2008

( Rupees In Lakhs )

Particulars 2007 2008 Increase Decrease

A) Current Assets  

a) Cash & Bank Bal. 196.78 187.96 0 8.82

b) Inventories 2168.46 3225.13 1056.67 0

c) Loans & Advances 528.01 951.50 423.49 0

d) Sundry Debtors 1315.69 2038.38 722.69 0

e) Other Assets 2.42 4.27 1.85 0

  4211.36 6407.24 2204.7 8.82

B) Current Liabilities  

a) Sundry Creditors 963.87 1594.74 0 630.87

b) Provision for Taxation 230.09 445.97 0 215.88

  1193.96 2040.71 0 846.75

Total Increase/Decrease 2204.7 855.57

Working Capital (A-B) 3017.4 4366.53 1349.13

There is a Net Increase in Working Capital by Rs. 1349.13/-(lakhs)

Interpretation & Analysis:

We see that there is a net increase in the working capital, because in the year 2007-08 there was increase in the inventories & sundry debtors. Even though there was increase in creditors

DOMESTIC WINE(MAHARASHTRA)

Vineyards are multiplying in Maharashtra, as farmers see ever more advantages to switching to wine grape-growing. Nashik is the current centre of the boom. Enterprising table grape farmers have shifted to growing wine grape varieties, with generous subsidies from the state government encouraging the move. The government of Maharashtra has issued over 70 licenses in the last couple of years for setting up new wineries.Further, the state’s revenue department has introduced a zero excise duty

regime with 4% sales tax on locally produced wines. This is the most

progressive action yet-taken on the Indian wine scene, and hopefully, other

states will follow Maharashtra’s lead.

Present scenario of Wine Industry in

MAHARASHTRA

With special reference to Sula.(intro)

Introduction:-

Preview… The macro behavior

The tiny wine industry in India is slowly coming of age as the buzz about its

reputation spread among the cognoscenti. For a hot country known for its

spices and tea, it is difficult to imagine that its wine industry would attract

any attention. Even five years back no one spoke of Indian wines or their

flavours, and the drink was almost unknown to Indian palettes. But the

picture is fast changing. Though only a small number of vineyards produce

grapes for wines, their reputation is spreading among the cognoscenti.

The infant Indian winemaking industry is hoping to get a foothold in the

international wine market. Indian wines have begun to find space on the

menus of Indian restaurants abroad, there is a buzz among the globe-

trotting elite about the French or California wines they taste, and Indian

wines have begun to be noticed by masters of wine around the world.The

history of wine making parallels that of civilization. References of wine have

been found in Egypt and Phoenicia dating as far back as 5000 BC, and by

2000 BC wine was been produced in Greece and Crete. European explorers

in the 16th century introduced the wine to the new world.

Today wine is synonymous with culture and convivial lifestyle around the

world, complementing food, entertainment and the arts. An international

report says that there are some 8 billions hectares of vineyards across the

world , each of these vineyards reflects the terrier, history, culture and the

tradition of its region.

Wine plays a major role in the economies of many nations, which produce

more than 26 billion liters of wine annually. Fierce competition for market

share has led to increased diversity and innovation within the wine industry,

much to the benefit of the consumer.

Over the past decade, wineries around the world have gone to great lengths

to enhance their consumer education efforts. As a result, consumers in the

New World are becoming much more knowledgeable about wines. At the

same time, New World wineries in countries such as Australia have learned

to sell to consumers in the U.S. much more effectively than French

vineyards, for instance, because they recognize how to market to consumers

who may not be experts on wine. Italian wineries also have begun to

develop effective marketing and consumer education efforts for the U.S.

market. The French, in particular, have not been as effective; consequently,

their export performance has lagged behind other wine-producing nations

in recent years.

At the retail level, wine sales are increasingly shifting to supermarkets,

wholesale clubs, and the like. These changes in the retail and distribution

channels present substantial challenges for wineries, of course, Smaller

vineyards often can find it more difficult to secure shelf space and all

wineries find themselves facing pricing pressure from the retail and

distribution channels.

PRODUCT PROFILE:-

Wines can be classified into following types globally.

1:- Still wines

A: - White, red, rose wines.

B: - Dry, medium dry and sweet wines.

C: - Vintage wines

D: - Aromatized wines.

2:- Sparkling Wines

A: -Champagne.

3:- Fortified wines

A: - Dessert wines.

Wines are categorized using a number of different methods. Sometimes

they are grouped into different categories by grape variety, region of origin,

by color, by the name of the wine maker or viticulturalist, or by production

technique.

Three basic groups of wines are most easily distinguishable for the

consumer: table wines, sparkling wines and fortified wines. Table wines,

also known as still or natural wines, are produced in many different styles

and make up the majority of wines on the market. Traditionally consumed

as part of a meal, table wines contain between 10 and 14 percent alcohol

and are further classified by their color, sugar content, and the variety and

origin of the grapes that were used. Depending on the grape variety and

wine-making technique, wines can be white, red, or pink in color. Most

table wines are fermented until they are dry i.e, all the grape sugar has

been turned to alcohol by the yeast. Slightly sweet or off-dry wines are

made by stopping the fermentation before all the sugar is gone or by adding

grape juice back to the wine afterwards.