Ch. 6 - Consumer Decision Making

   
     Many factors can influence a potential buyer when it comes to consumer decision making in regards to fine wines. Dom Perignon has the distinct advantage of being one of the most easily recognizable names in high-end champagne, due in part to the experience and sheer longevity of the company. Even if a potential customer has never tasted Dom Perignon, the chance of them recognizing the name and positive reputation of this particular sparkling wine is very high. While other alcohols can be considered impulse buys, a bottle of Dom Perignon is not something generally purchased on a whim. Marketing researchers focused on the buying and selling of fine wines have discovered that it is highly important to "look at the particular occasion people drink wine as this seems to drive consumer purchase decision more than any other factor". While those who can afford to do so may enjoy a glass of Dom Perignon at home alone, the average consumer is more likely to reserve such a purchase for a notable event or gift. These kind of special occasions create a high-involvement decision making process for the consumer. The same consumer who would normally purchase a twelve dollar bottle of Prosecco for a casual dinner party with friends is now faced with the highly involved decision to purchase a $200 bottle of Dom Perignon to impress the CEO of his/her company at a formal dinner. This particular situation can greatly influence said consumers decision to purchase this notable and expensive champagne.
       Social visibility is another major factor contributing to the decision making process when purchasing fine wines. Dom Perignon is synonymous with prestige, luxury and wealth, thereby making those who purchase and drink it appear socially prestigious as well. While the financial risk of purchasing Dom Perignon can be high, being perceived as someone of high social status can be valuable for many consumers. Because those who purchase luxury champagnes are generally among the capitalist class and the upper middle class, those who drink Dom Perignon become an aspirational reference group. In much the same way that young aspiring hip hop artists coveted Cristal champagne because of their more successful counterparts' endorsements, Dom Perignon has become the unofficial champagne of the "1%". That is to say consumers who aspire to wealth and high social status perceive themselves that way when consuming luxury items like Dom Perignon.