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Pricing Single Malt Whisky: A Regression Analysis
KTH, School of Engineering Sciences (SCI), Mathematics (Dept.), Mathematical Statistics.
KTH, School of Engineering Sciences (SCI), Mathematics (Dept.), Mathematical Statistics.
2016 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Prissättning av single mail whisky : En regressionsanalys (Swedish)
Abstract [en]

This thesis examines the factors that affect the price of whisky. Multiple regression analysis is used to model the relationship between the identified covariates that are believed to impact the price of whisky.

The optimal marketing strategy for whisky producers in the regions Islay and Campbeltown are discussed. This analysis is based on the Marketing Mix. Furthermore, a Porter’s five forces analysis, focusing on the regions Campeltown and Islay, is examined. Finally the findings are summarised in a marketing strategy recommendation for producers in the regions Campbeltown and Islay.

The result from the regression analysis shows that the covariates alcohol content and regions are affecting price the most. The small regions Islay and Campbeltown, with few distilleries, have a strong positive impact on price while whisky from unspecified regions in Scotland have a negative impact on price. The alcohol content has a positive, non-linear, impact on price.

The thesis concludes that the positive relationship between alcohol content and price not is due to the alcohol taxes in Sweden, but that customers are ready to pay more for a whisky with higher alcohol content. In addition, it concludes that small regions with a few distilleries result in a higher price on whisky. The origin and tradition of whisky have a significant impact on price and should thus be emphasised in the marketing strategy for these companies.

Abstract [sv]

Denna kandidatuppsats undersöker de faktorer som påverkar priset på whisky.

Multipel regressionsanalys används för att modellera  förhållandet mellan de identifierade variablerna som tros påverka priset på whisky.

Vidare diskuteras den optimala marknadsföringsstrategi f ̈or whiskyproducenter i regionerna Islay och Campbeltown. Analysen baseras på en Marknadsmix-analys för whisky i Skottland. Detta följs av Porters femkraftsmodell med fokus på regionerna Islay och Campeltown. Slutligen sammanfattas resultaten i en rekommendation av marknadsföringsstrategi för producenter i regionerna Islay och Campbeltown.

Resultatet från regressionsanalysen visar att kovariaterna alkoholhalt och regioner har störst påverkan på priset. De små regionerna Islay och Campbeltown, med få destillerier, har en stark positiv inverkan på priset. Whisky från ospecificerade regioner i Skottland har däremot en negativ inverkan. Alkoholhalten har en positiv, icke-linjär inverkan på priset.

I kandidatuppsatsen dras slutsatsen att det positiva sambandet mellan alkohol och pris ej kan förklaras av Sveriges alkoholskatt, utan att kunder är redo att betala mer för en whisky med högre alkoholhalt. Vidare konstateras att små regioner med få destillerier resulterar i ett högre pris på whisky. Whiskyns ursprung och tradition har en stor inverkan på pris och bör därför betonas i marknadsföringen.

Place, publisher, year, edition, pages
2016.
Series
TRITA-MAT-K, 2016:05
National Category
Mathematics
Identifiers
URN: urn:nbn:se:kth:diva-189001OAI: oai:DiVA.org:kth-189001DiVA: diva2:942654
Subject / course
Applied Mathematical Analysis
Educational program
Master of Science in Engineering - Industrial Engineering and Management
Supervisors
Examiners
Available from: 2016-06-26 Created: 2016-06-26 Last updated: 2016-06-26Bibliographically approved

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