15 water waste, access to a wide variety

15
MARKET ANALYSIS & MARKETING PLAN

 

15.1 Introduction

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The aquaponics industry in Guyana is now being
developed thus there are not much industry statistics. However the global aquaponics
forecast by 2020 is expected to be $1 billion (US). Table 1 shows the
Total market size for the entire agriculture market in Guyana. (Figures for
2016 could not be found)

Market
Size

2014

2015

Local Production

$304.0

$373.2

Imports

$0

$0

Exports

$212.7

$203.4

Total Market Size

$92

$170

Table 1: $US millions  (total market size = (total local production +
imports) – exports) Web Resources: Ministry of Agriculture; Guyana Marketing
Corporation

When assessing the viability of aquaponics in Guyana,
the question is not simply whether or not it is viable, but to what extent it
is viable, and where and to whom would it be most relevant. This is because the
viability can certainly be achieved, but the extent to which aquaponics can be
maintained as a sustainable practice and how that practice can most efficiently
be implemented is important.

Consumer attitudes and behaviours are conditioned on
a myriad of factors, and they need to sustain a connection to the products in
to provide a stronger willingness to purchase products. With organics, there is
a drive for health promotions, along with quality and environmental value. However,
consumers value price more than anything. Therefore increased production and
local produce is invaluable, although taste and accessibility remain prominent,
along with trust in the producers.

There are many opportunities for sales with species
of tilapia, and series of lesser-explored fish species, such as bass, sea bream
and wolf fish for introduction into the market. The features of aquaponics
allow for consumers to generate a connection to the fish and allow for
increased confidence and knowledge in their purchases.

Many of the consumer demands for organic products
can be satisfied through aquaponics. The produce holds to the local appeal that
is desired, with an environmental focus, mitigated water waste, access to a
wide variety of produces and fish. It permits a more tactile approach,
developing an increased level of trust between consumers and producers and gives
the consumer an outlet for dictating product selection and quality standards.

 

15.2
Market Points of Entry

 

The key consideration to a market strategy is
finding out what points of entry an aquaponics facility could manage in the
Guyana market. This comes under considerations of the proper end users, system
scaling, key demographics, produce and fish selection, market characteristics,
community drivers, and incentives/rewards for promoting sustained purchases.
Aquaponics is still in developmental stages, where scaling is determined on
regional and administrative factors and not fit into a consistent framework, as
the systems still have heavy data gaps.

Although no end user is mutually exclusive to other
groups, the initial setup would ideally focus on an outlet that reaches out to
the highest number of individuals with the widest demographic distribution to
generate the most exposure and awareness of aquaponics principles. As
aquaponics is still relatively unknown in Guyana and consumers have a lower understanding
of the practice, it would be ideal to target a market schema that initially
relies on exposure to aquaponics, showcasing its potential and outputs.

An ideal facility would manage a high number of
touchpoints (opportunities for the consumer to interact with the business) and
an operation that allows for variable product and fish selection as well as
educational benefits in the early stages.

 

15.3 Return on Investment

Aquaponics have been proven to be quite successful
in market ventures, provided they have suitable preliminary research prior to
operations. Returns on aquaponics systems are variable, and once again
contingent on size and the market.

English’s
introductory work on the economic feasibility of aquaponics find the systems to
be most profitable in temperate climates, where hydroponics is a more fitting
alternative.

 

15.4 Regulations

Policy considerations are of great importance,
legislative boundaries can completely unravel a project. This extends not only
to licensing and operational standards, but also to auditing processes, labelling
practices, and certification. Misunderstandings about the potential for
transmission of diseases through the water circulation can impede on
maintaining an optimally working system. Aquaponics suffers significantly from
receiving organic certification, where most famously, European Council
regulation EC 834/2007 bars aquaponics and hydroponics from being considered
organic. Despite offerings to revisit the definition in the future, there has
yet to be any restructuring for the organic qualifications in hydroponics and
aquaponics.

Because aquaponics goes through various iterations
of setups with varying degrees of filtration and can even be achieved through
desalination, appropriating aquaponics models to a blanket category can be less
effective for regulations.

 

15.5 Target market

The
customers will be the farmers, firstly, those who are already planting leafy
produce will be targeted since those produce are well established in the parent
industry. Aquaponics uses 90% less land and water than agriculture so there are
no need for farmers to have large amounts of land. Farmer who are already
practicing hydroponics and aquaculture techniques will be easier to market
since they are accustomed with some of the technologies. Also, anyone
interested in aquaponics techniques will also be targeted. The Ministry of
Agriculture already has good faith with the population thus they will have more
trust in them engaging the population.

Primary and secondary Schools children
will be educated in aquaponics methods are an early stage in their development.
Career days and field trips will be utilised.

Persons at any level of education
will be invited to come in and train in aquaponics techniques.

 

15.6 Advertising
and Promotion

The Ministry of
Agriculture and NAREI will have presence across many of the popular online
channels (website, social media, relevant marketplaces, etc.), this is to
educate the population of training offered.  The marketing plan will utilise a mix of be
inbound focused (SEO, social media, blogging, etc), and traditional focused (direct
mail, brochures, and print advertising)

15.7 Questionnaires and Surveys

A questionnaire or
written survey will be given to farmers, is a simple, productive tool to aid in
obtaining constructive feedback from potential customers. They can be conducted
through direct mail, over the telephone, in person, by email or on the
internet.

15.8
Marketing Objectives & Strategies

Marketing Objective: Engage and educate population on developments
in the Aquaponics industry.

Strategy

Responsible Individual

Status/Due Date

E-Mail Blast

NAREI’s Marketing Manager

15-20-19

Advertising Flyers/ Brochures

Information Technology Specialist

15-12-17

Posts to Facebook/Instagram/twitter

Marketing research Specialist

15-12-17

Newsletters (print/online)

Marketing research Specialist, The
Ministry of Agriculture

15-12-17

Online Ads/Banners

Information Technology Specialist

15-20-19

Newspapers ads

Marketing research Specialist, The
Ministry of Agriculture

15-20-19

Billboards

The Ministry of Agriculture

15-20-19

Trade fairs

Project Manager

When necessary.

Television ads

The Ministry of Agriculture

15-20-19

Public relations/Networking

Project Manager, NAREI Director.

15-20-19

Radio ads

Marketing research Specialist

15-20-19

Postal or mail advertisements

NAREI’s Marketing Manager

05-03-19

 

 

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