Apply Week 2 The Central California Winemaking Industry .docx ECO/535 The Central Califo

Apply Week 2 The Central California Winemaking Industry .docx  ECO/535  The Central California Winemaking Industry  University of Phoenix ECO/535  The California Wine Industry  California is number 4 in the world for leading wine production and makes up 81% of all United States wine. Due to the success of the wine industry in California, it has created 325,000 jobs in California alone and 786,000 nationwide. Each year this draws in 23.6 million tourists to visit this region which spend 7.2 billion in California ("Media & Trade", 2021). I was shocked to see how much wine does for the economy through these facts and statistics. Most people dont specifically look at where the wine came from as long as it is their favorite variety; for example, chardonnay, pinot grigio, or merlot. Now that we have a brief overview of the statistics lets dive into to a deeper analysis of this industry.  Competition and Pricing  California is number one in the United States for wine, but they are rivaled by competing imports from places like Spain, Italy and France. True wine connoisseurs do their homework on the brands which is made much easier with technology resources to learn about where it was made and what factors contribute to their taste and/or overall quality. Just like any other industry your brand can truly drive you forward and lead consumers to buy more of your product Being able to differentiate from your competitor can help justify selling their wine at a higher price. However, the younger generation and millennials are noted as not drinking as