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The Crurated Revolution: Connecting People with Fine Wines Through Blockchain Technology

Published 22 Jun 2023
Reference 6822
Topic Marketing
Region Global
Length 12 page(s)
Language English

Crurated, a start-up founded in 2019, combines various technologies to address previously unmet needs in the fine wine market through a bold marketing approach. The innovative ecommerce marketplace enables high-end consumers to connect with and purchase wine from renowned producers. Stepping into the shoes of founder Alfonso De Gaetano, students analyse how value is created through status-building across the product life cycle, identify opportunities to fix market failures and address unmet customer needs, combine technological solutions to articulate an effective value proposition, and formulate approaches to product, pricing, placement and promotion.

Teaching objectives

1. To present a framework for how value (and particularly status perceptions) is created in high-end markets such as fine wine, and identify pain points for different actors at various point of the value chain. Bridges with other industries (fashion, jewellery) are possible. 2. To describe a process for when technologies do (or do not) support new business models by carving out a unique competitive advantage (by enabling feedback loops along the product life cycle). 3. To formulate an effective value proposition given the needs of the target segment, and learn how to create value through superior execution of the 4Ps (product/technology, price, place and promotion).

  • Blockchain technology
  • NFC
  • NFT
  • Marketing strategy
  • ecommerce
  • Luxury Industry
  • Fine Wine Market
  • Pricing
  • Consumer Psychology
  • Marketplace business models
  • Status motivations
  • Product
  • Digital innovation
  • Digital disruption
  • Q22023
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