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Maximising opportunities for Akaroa Salmon and Ōnuku Rūnanga
This document provides an analysis of leveraging indigenous values to maximise opportunities for Ōnuku Rūnanga in the global salmon market.
Introduction
The report evaluates how Ōnuku Rūnanga can maximise value in the salmon industry through their partnership with Akaroa Salmon. It addresses the sustainability and cultural integration of mātauranga Māori, explores international market opportunities, and consumer willingness to pay for premium salmon with distinctive credence attributes. The synthesis outlines existing market concentration risks in the salmon industry and identifies untapped potential in diversifying export markets, notably Korea and Thailand. The emphasis on cultural values provides a basis for product differentiation and aligns with market demands for food sustainability, provenance, and environmental stewardship.
Market analysis and consumer preferences
Consumer research indicates strong preferences for sustainable seafood with country of origin, ecolabels, and animal welfare being significant factors influencing purchasing decisions. International markets show untapped potential for Aotearoa's seafood, with opportunities for diversification to mitigate risks and enhance market reach. Ōnuku's values resonate with these consumer preferences, offering pathways to leverage their cultural authenticity and storytelling to create a unique brand identity and attain premium market positioning.
Strategic recommendations and brand identity
Brand identity and communication are pivotal for Ōnuku to achieve market differentiation and assert the uniqueness of their salmon. Recommendations include strategic focus on untapped international markets, developing assurance mechanisms, and amplifying indigenous provenancing. Establishing brand identity using frameworks like the Identity Matrix can guide strategic articulation of Ōnuku's values and visions, which are inherent to creating an indigenous product. A targeted communication strategy is essential to convey the product's distinctive narrative, rooted in mātauranga Māori, to consumers seeking authenticity and sustainability.
Key insights
Aligning indigenous values with market preferences creates new opportunities
By analysing consumer willingness to pay, Ōnuku Rūnanga can align their indigenous values with market demand for authenticity and sustainability, enhancing their potential to secure premiums for their salmon in the global marketplace. This approach not only offers a competitive edge but also fosters resilience against market concentration risks by targeting diverse consumer segments that value provenance, environmental stewardship, and cultural richness in their seafood choices.
Effective communication and storytelling are essential for a differentiated salmon brand
Ōnuku's success hinges on their ability to effectively communicate the unique story of their salmon, intertwined with Māori cultural values. By doing so, they can create a strong, differentiated brand that resonates with consumers, particularly those who value sustainability and authenticity. The crafting of this narrative, supported by transparent assurance mechanisms, will be crucial in elevating their salmon products to premium status in both local and international markets.
Strategic market diversification reduces risks and increases value creation potential
Diversification of export markets is crucial for mitigating the risks of over-reliance on traditional primary markets. The potential in underrepresented markets such as Korea and Thailand represents a strategic opportunity for Ōnuku Rūnanga to expand their reach and capitalise on growing demand for premium, sustainable seafood products. Exploring these markets could enhance the value of their distinctive salmon products and add resilience to their business model.
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© Copyright 2024 - Tohorā
© Copyright 2024 - Tohorā
Knowledge guiding change.
