Authors
Giap V Nguyen, Terrill R Hanson, Curtis M Jolly
Publication date
2013/7/3
Journal
Aquaculture Economics & Management
Volume
17
Issue
3
Pages
212-227
Publisher
Taylor & Francis Group
Description
This study used a LA/AIDS model to estimate demand system for crustacean species, shrimp, crab, crawfish and lobster at the U.S. retail store level. Shrimp demand is price elastic; crab, crawfish and lobster are price inelastic. Shrimp price significantly affects market shares of crustacean products. Shrimp has more substitutes than other crustaceans, and lobster has less substitutes than others. The demand for crab and lobster grow faster than the demand for shrimp and crawfish when expenditure increases. Promotion has positive effects on market shares and sales volume of own products and negative effects on cross-products. Shrimp price-reduction promotion strategies will be effective in term of raising shrimp sales value. Marketing programs that increase consumers’ marginal utility with an additional small increase in the selling price of crab, crawfish and lobster products will be feasible, and bring higher sale …
Total citations
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Scholar articles
GV Nguyen, TR Hanson, CM Jolly - Aquaculture Economics & Management, 2013