How Do Values Influence the Consumer Utility for Wine and the Other Alcoholic Beverages? A Focus on Generation Y Preferences and Consumption Situations

The purpose of this paper is to understand how values influence the choice behaviour for wine and the other alcoholic beverages in the different consumption situations, by focusing on young consumers. The study applied the Multinomial Logit Model (MNL) to the consumption situation of wine and the other alcoholic beverages and to the socio-psychological values obtained from the Rokeach Value Survey to determine their influence on utility perception. A survey has been conducted by a sample of young Italian consumers of alcoholic beverages. This research proposes an advance in the implementation of the personal identity and the moral concern in the utility function. They play an explicative role in the utility model, especially when sociality is highly involved. The results show that the choice of wine is not only determined by the different product attributes, but also by the context in which it is consumed and the competition with the other alcoholic beverages. The inclusion of subjective and emotional values of young consumers in the analysis could enlarge the managerial perspectives, by improving the approach towards the young generations and by helping to identify the most appropriate communication channels and contents.