A marketing strategy for a new functional fish

ABSTRACT

The successful development and bringing to market of a new fortified sea bream depends not only on the additional nutrients that it may include and the multiple health benefits that it might generate, but also on consumer habits, needs, wants, and their willingness to accept a new functional food product. In order to produce information on supporting entrepreneurs’ investment decisions with respect to a new functional fish, a market research study was performed in order to gather market data. The descriptive study aimed to measure: consumption habits with respect to all types of fish; the market share of aquaculture fish; market size and channels; the factors determining the acceptance of the new product; the consumer probability of buying and recommending the new product; the fair price of the new product; and the consumer profile. The results of this study were used to design a marketing strategy for the new food product to meet the Portuguese market requirements.

KEYWORDS:

• Consumer behavior
• functional fish
• market segment
• marketing research
• marketing strategy

Acknowledgments

We thank the editor and the anonymous reviewers for their constructive comments and suggestions, which have considerably improved an earlier version of the article.