Seafood and Aquaculture Marketing Handbook (2nd Revised edition)

Seafood and Aquaculture Marketing Handbook (2nd Revised edition)

By: Carole R. Engle (author), Kwamena K. Quagrainie (author), Madan M. Dey (author)Hardback

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Aquaculture, the farming of aquatic animals and plants, and other seafood businesses continue to grow rapidly around the world. However, many of these businesses fail due to the lack of sufficient attention to marketing. The Seafood and Aquaculture Marketing Handbook provides the reader with a comprehensive, yet user-friendly presentation of key concepts and tools necessary for aquaculture and seafood businesses to evaluate and adapt to changing market conditions. Markets for aquaculture and seafood products are diverse, dynamic, and complex. The Seafood and Aquaculture Marketing Handbook presents fundamental principles of marketing, specific discussion of aquaculture and seafood market channels and supply chains from around the world, and builds towards a step-by-step approach to strategic market planning for successful aquaculture and seafood businesses. This book is an essential reference for all aquaculture and seafood businesses as well as students of aquaculture. The volume contains a series of synopses of specific markets, an extensive annotated bibliography, and webliography for additional sources of information. Written by authors with vast experience in international marketing of aquaculture and seafood products, this volume is a valuable source of guidance for those seeking to identify profitable markets for their aquaculture and seafood products.

About Author

Carole R. Engle, Engle-Stone Aquatic$ LLC, Strasburg, VA, USA Kwamena Quagrainie, Department of Agricultural Economics, Purdue University, USA Madan M. Dey, Department of Aquaculture and Fisheries, University of Arkansas at Pine Bluff, USA


About the authors xiii 1 Seafood and aquaculture markets 1 Global trends in seafood and aquaculture markets 1 Where are most aquaculture crops produced? 4 What are the major species cultured worldwide? 5 What are the major finfish species caught and supplied to world markets? 7 What countries are the major markets for seafood and aquaculture? 8 Trade in seafood and aquaculture 9 Are aquaculture products different from agriculture products? 9 Characteristics of aquaculture products 9 Market competition between wild caught and farmed finfish 12 Consumption trends in seafood and aquaculture markets, expenditures, effects of income, and at home versus away from home purchases 13 Aquaculture market synopsis: tilapia 14 Summary 18 Study and discussion questions 19 References 19 2 Demand and supply: basic economic premises 22 What is economics? 22 Demand 23 Population 27 Income 27 Consumer tastes and preferences 28 Consumer behavior 28 Supply 29 Costs of production 31 Technology 31 Price determination 32 Elasticity 32 Demand elasticity 34 Cross price elasticity 36 Price elasticity and total revenue 37 Elasticity of supply 38 Market structures and implications for competition and pricing 38 Special demand and supply conditions 39 Aquaculture market synopsis: salmon 40 Summary 44 Study and discussion questions 45 References 45 3 Seafood and aquaculture marketing concepts 47 What is marketing? 47 Marketing plan 48 Market products 48 Supply chain and value chain 48 Processors 49 Market or distribution channels 50 Transportation 52 Wholesaling 53 Brokers 54 Retailing 54 Food grocers 55 Livehaulers 56 Restaurants 56 Direct sales 56 Profit margins 57 Economies of scale in marketing 58 Supply chain management 58 Pricing systems 59 Price determination 59 Marketing margins, marketing bill, and farm retail price spreads 60 Pricing at different market levels 62 Price behavior, trends, and fluctuations 63 Geographic markets 64 Product storage 65 Market power 65 Advertising and promotion 66 Product grades, quality, and marketing implications 67 International trade 69 Aquaculture market synopsis: shrimp and prawns 70 Summary 76 Study and discussion questions 76 References 77 4 Market trends 80 The role of imports in U.S. seafood markets 80 U.S. seafood consumption 82 Food consumption away from home 84 Convenience in food preparation and consumption 85 Demand for healthy and wholesome foods 86 Sustainability and seafood 87 Certification of sustainability 89 The Marine Stewardship Council (MSC) 89 The Global Aquaculture Alliance (GAA) Best Aquaculture Practices (BAP) 90 The Aquaculture Stewardship Council (ASC) 90 GLOBAL Good Agricultural Practice (GLOBALG.A.P.) 91 Traceability and labeling of seafood products 91 Country Of Origin Labeling (COOL) 92 Ecolabeling of seafood products 93 Seafood and the local food movement in the U.S. 95 Organic seafood 96 Wholesale retailer integration in the food system 97 Electronic Data Interchange (EDI) 98 The Efficient Consumer Response (ECR) 98 The Efficient Food Service Response (EFR) 99 E commerce 100 Aquaculture market synopsis: Pangasius spp. (swai, basa, and tra) 102 Summary 104 Study and discussion questions 106 References 106 5 Seafood market channels 109 Market channels for primary seafood products 109 Seafood distribution in developing economies 109 Seafood distribution in developed economies 110 Seafood distribution in the U.S. 112 Price discovery for primary commodities 113 Contracting and vertical integration in U.S. seafood business 113 Other transaction types in U.S. seafood business 115 Participation in food market channels 116 Distributors 116 Wholesalers 116 Channel ownership and control for secondary products 123 Consolidation and channel control 124 Channel coordination and leadership for secondary products 126 Channel agreements 128 Tying agreements 128 Exclusive dealing 128 Value chain analysis 129 Channel conflict 129 Aquaculture market synopsis: trout 130 Summary 132 Study and discussion questions 133 References 134 6 Seafood and aquaculture product processing 136 Processing 136 Structure of the seafood and aquaculture product processing industry 141 Concentration 144 Vertical integration 146 Product characteristics 146 Entry into the industry 148 Plant location 149 Law of market areas 150 Capacity utilization 151 Innovation and branding 151 Challenges in aquaculture product processing 153 Aquaculture market synopsis: U.S. channel catfish 154 Summary 158 Study and discussion questions 159 References 159 7 The international market for seafood and aquaculture products 162 The basis for trade 162 Dimensions of the international market 163 Trade policy tools 167 Trade policy in seafood and aquaculture 169 The General Agreement on Tariffs and Trade (GATT) 169 The World Trade Organization (WTO) 170 U.S. Antidumping 172 Byrd Amendment, Continued Dumping and Subsidy Offset Act of 2000 172 Salmon trade conflicts 173 United States and Norway 173 United States and Chile 173 European Union and Norway 174 Blue crab conflict 174 U.S. crawfish and China 175 U.S. catfish and Vietnamese basa 176 Mussel conflicts 177 Shrimp conflicts 177 The Convention on International Trade in Endangered Species (CITES) 177 Aquaculture market synopsis: ornamental fish 178 Summary 181 Study and discussion questions 181 Appendix 7A: The U.S. Antidumping Law 182 The U.S. Department of Commerce 182 The U.S. International Trade Commission (ITC) 183 References 184 8 Marketing by aquaculture growers 187 Fish species and markets 187 Production systems and intensification 188 Sizes of producers 191 Supply response and biological lags 192 Commodities, markets, and niche markets for differentiated products 193 Farmers marketing alternatives 194 Sales to processors 194 Sales to livehaulers 194 Selling directly to end consumers 195 Marketing by fisher/farmer groups 198 Marketing cooperatives 201 Local cooperatives 201 Centralized cooperatives 201 Federated cooperatives 202 Mixed cooperatives 202 Marketing cooperatives as marketing agents 203 Marketing cooperatives as processing groups 203 Farmers bargaining groups 203 Marketing orders 205 Futures markets for aquaculture products? 206 Generic advertising of seafood and aquaculture products 207 Advertising of seafood the National Fisheries Institute (NFI) 208 Salmon advertising the Salmon Marketing Institute (SMI) 208 Catfish advertising the Catfish Institute (TCI) 209 Tilapia advertising the Tilapia Marketing Institute (TMI) 209 Trout advertising the United States Trout Farmers Association (USTFA) 210 Aquaculture market synopsis: oysters 210 Summary 213 Study and discussion questions 214 APPENDIX 8A: The Capper-Volstead Act 214 References 216 9 Marketing strategies and planning for successful aquaculture businesses 219 Current market situation analysis 219 Market research 219 Competition 222 Consumer attitudes/preferences 223 Analysis of business strengths and weaknesses 224 Developing the marketing strategy 226 Developing a retail outlet 227 Market segmentation 228 Products and product lines 229 Commodity markets 235 Niche markets 235 Value added products 236 Business organization and contracting 237 Sales 238 The marketing plan 238 Aquaculture market synopsis: mussels 243 Summary 247 Study and discussion questions 248 Appendix 9A: A sample market plan (hypothetical) 248 Executive summary 248 Vision 248 Overall market situation analysis 249 References 251 10 Marketing research methodologies 254 Types of research and design 255 Exploratory research 255 Qualitative research 256 Quantitative research 257 Data collection 257 Secondary data 257 Primary data 258 Sampling 263 Questionnaire design 265 Response rate 266 Research on attitudes and preferences 266 Theories of choice behavior 267 Product research 268 Product ideas 268 Product testing 269 Market share research 270 Advertising research 270 Sales control research 272 Value chain research 273 Data analysis 275 Statistical summaries 275 Relationships between variables or responses 278 Discrete choice analysis 280 Conjoint analysis 282 Traditional demand analysis 284 Aquaculture market synopsis: baitfish 285 Summary 288 Study and discussion questions 289 References 291 11 Seafood demand analysis 293 Demand theory 293 Theoretical properties of demand 294 Approaches to modeling fish and seafood demand 295 Commodity grouping and separability 298 Other issues pertaining to estimating demand for seafood 299 Data 301 Scanner data 302 Elasticities and flexibilities of seafood demand 303 Estimates of elasticities and flexibilities of seafood demand 304 Recent estimates of elasticities/flexibilities of seafood demand in developed countries 304 Recent estimates of elasticities/flexibilities of seafood demand in developing countries 312 Aquaculture market synopsis: crawfish 319 Summary 323 Study and discussion questions 324 References 324 12 Policies and regulations governing seafood and aquaculture marketing 330 Regulatory frameworks for seafood and aquaculture 330 Food safety 331 Industry initiated programs 333 Regulation of food safety 335 Organic standards 338 Green labeling and standards 339 Marketing and transportation of live aquatic animals 340 Aquatic animal health and biosecurity 341 Aquaculture market synopsis: mariculture of grouper, snapper, tuna, and cobia 342 Summary 343 Study and discussion questions 344 References 344 Glossary 347 Annotated bibliography of aquaculture marketing information sources 365 Annotated webliography of sources of data and information for aquaculture marketing 373 Index 390

Product Details

  • ISBN13: 9781118845509
  • Format: Hardback
  • Number Of Pages: 416
  • ID: 9781118845509
  • weight: 954
  • ISBN10: 1118845501
  • edition: 2nd Revised edition

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