New Products
This can be considered in two different ways, as branching out and finding a new market niche for your existing product, or farming species relatively new to aquaculture.
New Market Niche
The identification of a potential new market niche for your existing product may entail new manufacturing procedures (e.g. smoking/curing processes) which, inevitably, will pose new and different questions for your business.
New Species
The farming of species that are relatively new to commercial aquaculture can also be a viable option since good alternative options can decrease the companyís vulnerability to market fluctuations and enhance profitability. On the other hand, well researched technical and market information is required before a significant investment in alternative species should be made. Moving into the production of new species is always a calculated risk where the farmer should make sure that he has the maximum information required in order to make it a success.
Questions
New Market Niche
- Are your personnel able and trained for the new production process?
- Can your current installations be used for this process?
- Can you provide training to give new skills to your existing workforce?
New Species
- Do you have access to R & D results on appropriate new species?
- Do you have knowledge about the markets for new species?
- Can you make contact with university, research national and EU co-operative research projects, or avail yourself of technology transfer through personnel mobility grants?
- Can you attract employees with higher skills?
- Can you develop the skills of your current workforce?
Danger point
If you do not appraise all the options available to your company, you are not likely to make a success of your bid to expand or to diversify.
Training Checklist
Training provision relating to new product development.
New Product Development
- Forming an association/partnership with University or other research or development agency
- Fish processing techniques
- Implementation and assessment of pilot project
- Scaling up from pilot project to commercial venture