Annotated Literature Review

Example of Annotated Literature Review Introduction

Successful business decisions always consider the tastes and preferences of customers and additional costs they are likely to incur when consuming the product. The worst mistake that many businesses make is the adoption of decisions that are not likely to be appreciated in the market. In this case, Flora Springs is thinking of replacing the traditional cork closures with Vino-Lok glass closures. Barber and Taylor (2009) affirm that this decision would play an instrumental role in solving different sets of questions raised over the traditional cork closures over the years. Some of the key issues that have been raised relate to their unacceptable quality in the wine industry. Many consumers have yearned for the quality of cork closures, and Vino-Lok glass closures would offer this in the best way possible.

 

Costley (2011) asserts that Vino-Lok glass closures offer an airtight seal that is critical in ensuring the maintenance of the standards of safety of the wine. Apart from the high level of protection, it is aesthetically appealing and can be easily opened without using other implements that might affect the safety standards. These characteristics make the decision to adopt it more relevant and viable for Flora Springs Company.

One of the most significant consequences of making this decision would be increased revenues generated by the company. The use of Vino-Lok glass closure would lead to improved quality of the wine produced by the company hence leading to increased revenues and profitability. Barber and Taylor (2009) agree that wine consumers would always like to enjoy quality products, and this will work to the advantage of Flora Springs. Additional production costs might not affect the decision of consumers to purchase the company’s wine at any given time. Their consumption will increase boosting the revenues generated by the company.

Another critical consequence of the process would be the increased competitive advantage of Flora Springs in the wine industry. The company will gain a competitive advantage due to the use of Vino-Lok glass closure hence competing favorably with any other company in the industry. In fact, the best thing is that it will gain a competitive edge over other companies that would still be using traditional glass closures.

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The third consequence of the process is to provide consumers with a new experience. The target of this business decision is to ensure consumers enjoy a new experience related to wine consumption. Consumers love surprises and this will be one of the best ways to surprise them hence attaining their loyalty. Taylor and Barber (2014) indicate that customers believe in innovations, and this is a step toward innovation and ensuring they are comfortable with the quality offered by Flora Springs.

This paper utilizes previous literature to explicate the impact of the decision of Flora Springs to switch from the traditional glass closures to Vino-Lok glass closures considering cost-related barriers that might be created.

Annotated Literature Review Sources

Knotting Corks by Akbulut and Yasui

Akbulut, S., & Yasui, K. (2009). Knotting corks. Journal of Topology, 823-839.

Both authors work in the department of mathematics at different universities. Accordingly, Akbulut works in the department of mathematics at Michigan State University while Yasui works in the department of mathematics at Osaka University. Their main aim was to construct different corks and determine the best model that could be applicable in the industry. In their study, they constructed many knotted embedding of corks into 4-manifolds in such a manner that they created smooth structures. The results of the study indicated that the best corks could be the ones that are easy to open. Many individuals would automatically be attracted to those that form unique structures that are easy to handle.

The Importance of Wine Bottle Closures in Retail Purchase Decisions of Consumers by Barber and Taylor

Barber, N., & Taylor, C. D. (2009). The importance of wine bottle closures in retail purchase decisions of consumers. Journal of Hospitality Marketing & Management, 597-614.

In their study, Barber and Taylor focused on the influence of different wine closures on the consumers` purchasing decisions. They specifically focused on natural corks, synthetic corks, and screw tops and their effect on the purchasing decisions of millennials and baby boomers.

The results of the study indicated that the bottle closures used influence the purchasing decisions of consumers depending on the kind of wine they would like to purchase. Again, it depends on the purpose for which the wine is to be used. For instance, purchasing decisions would vary depending on whether the wine is used for personal use or as a gift. Therefore, market segmentation should be conducted in line with the bottle closures the company uses.

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Glass Closures Provide a High-End Alternative by Costley

Costley, D. (2011). Glass closures provide a high-end alternative. The Australian & New Zealand Grapegrower & Winemaker, 75-77.

Costley conducted case studies on different companies that have successfully adopted Vino-Lok glass closures. The purpose of the study was to highlight the rising levels of Vino-Lok usage as compared to traditional glass closures.

The results of the case study reveal that Whitehall Lane in the US took the first step to use traditional glass closures. However, the trend has significantly changed as different companies across Europe and Australia started to use Vino-Lok glass closures. For example, Henschke is a company, which conducted a study on the usage of Vino-Lok glass closures in 2004. More companies have seen the improvement in quality standards and have continued using Vino-Lok.

In Vino Veritas by Kummer

Kummer, C. (2009). In Vino Veritas. Technology Review, 102-105.

Kummer explored the entire concept of winemaking and the attractiveness of wines in California. The main aim of the research was to determine the significance of effective wine preparation.

The results pointed out that soil plays an important role in determining the quality of the wine produced. Organic farms deliver better wines compared to biodynamic farms. Apart from this, the packaging of the wine determines its acceptability and consumption rates in the markets. The use of Vino-Lok glass closure is an advancement that could add to the quality of the company’s wines hence boosting their marketability.

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Best New Bottle Closure Vino-Lok by Liem

Liem, P. (2006). Best new bottle closure Vino-Lok. Wine & Spirits, 87-87.

Liem works for ALCOA Closure Systems International Inc. This study is focused on Vino-Lok glass closure, as the best bottle closure for wine. The results of the study revealed that the Vino-Lok is outstanding among all glass closures because it is constituted of tempered glass with an acetate ring that makes it fit closely into wine bottles. Moreover, it is preferred because of its capability to eliminate the corky taint and the hidden variation between bottles. Lastly, it only requires using the thumb to open a bottle rather than using other implements. This advances the safety standards of the wine.

An Increasing Number of US Wineries Turn to Multiple Closures by Philips

Philips, C. (2010). An increasing number of US wineries turn to multiple closures. Australian & New Zealand Grapegrower & Winemaker, 87-92.

Philips discussed the highlights of the 2010 Closure Survey of the Wine Business Monthly Magazine. In line with the report, Philip indicates that many U.S. wineries still rely on natural corks, and use technical corks only as alternatives.

However, there has been an increasing number of companies using technical and multiple closures for all their 750-milliliter bottles. The rate of adoption of the technical corks has been high across all wineries in the U.S.

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More Wineries Demand Anything But Cork by Sogg

Sogg, D. (2006). More wineries demand anything but cork. Wine Spectator, 14-14.

Sogg studied the escalating demand for alternatives to natural cork among companies. He specifically points out that some companies such as Domaine des Baumard in France have completely moved away from the reliance on the natural cork. They are looking for other ways that would offer the best closures for their bottles. The Vino-Seal is considered the best alternative by most of these companies hence ensuring effectiveness and improved quality standards relating to the packaging of their wines.

Put a Cork in It: Attitudes Toward Corkage Fees in BYOB Situation Restaurants by Barber and Taylor

Taylor, C. D., & Barber, N. A. (2014). Put a cork in it: Attitudes toward corkage fees in BYOB situation restaurants. Journal of Culinary Science & Technology, 242-257.

Christopher works for the Conrad Hilton College of Hotel and Restaurant Management while Taylor works for Peter T. Paul College of Business and Economics. This shows the authors’ vast knowledge in the world of business and decision-making.

In their study, they affirm that many wine consumers and respective restaurants that serve wines face a complicated situation. The seriousness of the situation has been indicated by the decision of some consumers to carry their own wine to restaurants. Their study was aimed at helping readers to understand the gap that exists between the decisions of consumers and restaurants.

In their research, they established that motivation behind the consumers` behavior to come with their own wine was the corkage fees charged by restaurants. They were not willing to pay the fees, and would rather carry their own wine. Therefore, consumers are highly responsive to any significant change in the corkage fees.

Example of Annotated Literature Review Conclusion

The most significant problem faced by wineries has been to find a solution to the traditional cork closures. The aesthetic nature and the overall quality of Vino-Lok cork closure have been vital in leading to its increased demand. Many wineries around the world are looking for alternatives to natural glass closure. Liem (2006) determined that Vino-Lok cork closures would offer the best alternative to the existing demand for better corks in the wine industry.

The ability of Vino-Lok cork closures to offer consumers an easier opportunity to open the wine serves to the advantage of these companies. In fact, their levels of profitability have moved toward a positive direction because of the faster adoption of the new corks in the market. Additionally, their ability to reduce the difference between bottles makes them more relevant for usage within the wine industry.

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In line with the above information, this study is based on a thesis that consumers` purchasing decisions concerning wine depend on a type of cork closure used. There is a direct relationship between the type of cork closure and wine purchasing patterns around the globe. Barber and Taylor (2009) confirm that most consumers are attracted to Vino-Lok cork closure because of its attractiveness and ease of opening the bottle. With this understanding, Flora Springs has made the right decision to shift from traditional cork closures to Vino-Lok cork closures, as it will help the company attract more consumers and hence increase its level of profitability in the long run. The competitive ability of the company would be stronger because of the strong consumer base.

Despite the profitability and capability to attract many consumers brought about by the use of Vino-Lok cork closures, it is important to progress gradually in the implementation of the change. Some consumers might be hit hard by the additional cost associated with Vino-Lok cork closure hence reducing their purchases of the company`s wines. Sogg (2006) observes that they might be turned away by the rising costs of wine. Therefore, the process of implementing the change should be done in a few stages after a keen analysis of the consumers` tastes and preferences. The failure to adhere to these factors could negatively impact the company`s ability to implement the decision successfully.

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