DIVERSIFY film 2017
Diversify: Business model development and marketing launch strategy for innovative products in the fish market.
In Europe, 20% of fish production is aquaculture. The European aquaculture sector employs about 65,000 people (EU). However, the European aquaculture sector has remained stable since 2000 whereas the world aquaculture production has grown with some 30%. To reverse the trend and also to contribute to higher consumption of aquaculture fish over wild catch and meat this project aims to boost European aquaculture production by removing production bottlenecks of emerging species, and developing new products and to grow and expand markets.
The project is performed by a large consortium of partners from several EU countries. TU/e has a key role in the social-economic paragraph of the project and will collaborate closely with colleagues from Wageningen University and some SMEs. Specifically, we are responsible for developing viable business models and launch strategies for the different fish species developed/promoted. A business model details how firms create and appropriate (i.e. monetize) value (Morris et al., 2005; Osterwalder and Pigneur, 2009), appropriate business models for sustained profitability are necessary. As such, the business model dictates the market launch strategy.
To create and appropriate value of R&D investments firms need to collaborate with many partners in the supply chain. This implies that the business model should consider supply chain dynamics, and also its consequences on the market launch strategy. Apart from launch plans for the EU market predictions about market development and diffusion around the world should be made.