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The marketing function in many aquaculture-based companies may often be the weakest point of the business since, by definition, the basis of the activity is production.

The profitable sale of the final product is the key to the success of the business and this requires knowledge about:

The aquaculture sector, whatever the product, is dispersed geographically and made up of farms of widely different size and capacity. This means tha, unlike wild fisheries, few farms have a local, common facility (such as a port-based auction) to assist sales.

Some fish farmers have been inclined to leave the marketing to others thereby losing control and additional margin. However, the market changes seen in the 1990s clearly show the importance that fish farmers must give to their marketing strategy. Increasingly, individual companies are having to make much greater marketing efforts than in the past and also diversify their original sales strategy.

In the absence of any predetermined corporate marketing plan, the company should give consideration to the potential for joint marketing arrangements, the use of co-operative structures or agencies.

The classic consideration for marketing issues concern four concepts.
Product: Your product / brand / packaging
Price: Base price / discounts / cash sales / special promotions
Promotion: Personal selling / advertising and sales promotion
Place :Local/Regional/Export/Distribution / channels of delivery and service

Several aquaculture products, including species such as salmon and trout, are in the situation of market maturation/saturation at present. In these stages, it is not only important to promote and to advertise but also to achieve product differentiation and increased market share.

It is important to be able to recognise when products and markets are mature and if market saturation is affecting your product sales. Actions and reactions based on sound information and knowledge are required.

Furthermore, as new products are developed and sold on the market and as prices/products compete, fish farmers need access to or do their own market research. Competition is increasing all the time both within the sector as well as from other food supply areas.

The questions to be asked are in two areas and are very important in carrying out a review of your present position.

The market size now and its potential in the future?
Who has the market and who is the competition?
What new trends and market segments are emerging?
Do you have market information - quantity, quality and prices?
If you sell through external marketing groups, do you ask for customer feedback?
How do you respond to feedback from customers/external marketing groups?

2) Have you thought about product diversification/adding value ?

This could be as simple as supplying different sized fish to different markets.
Have you considered the steps that would be involved in adding value?
The enhanced presentation of fish can result in price premiums.

If a new product is developed:
Are adequate raw materials available in the company?
Do you need to procure additional raw materials?
Does the manufacturing capacity exist in the company?
Will demand be seasonal?
Will manufacture result in expansion or consolidation?

Will existing customers buy the new product?
Are new clients identifiable?
Will demand be immediate or slow-growing?
Are additional efforts are required to stimulate purchases?
Does the new product support the company's market image?

What are the attributes of the product that are important for the consumer?
Does the product respond to consumer desires?
Have you considered all the purchase decision aspects?
- Packaging
- Product name
- Product image
What is the competition and what is their position relative to the consumer?

Given the fact that competition is becoming fiercer, it is imperative to address the problems of falling prices in oversupplied markets.

Placing fishery products on the market
Introduction to marketing
Undertaking market research
Product promotion
New product development