Decision Process for Adoption of Innovative Products in the European Seafood Market: The Importance of Supply and Demand Factors |
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Authors: | Muhammad Yusuf Jinghua Xie Torbjørn Trondsen |
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Institution: | 1. University of Troms?, Troms?, Norwayyus_crab@yahoo.com;3. University of Troms?, Troms?, Norway |
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Abstract: | This study proposes a new approach with two-dimensional point of view to test predicting factors that are influencing European trader decisions for the adoption of innovative seafood products in the distributor channels. A combination of two main predicting factors for adoption is investigated in the “supply factors” (4Ps: product, promotion, place, and price) and the “five innovation demand factors” (5IDs: relative advantage, compatibility, complexity, trialability, and observability). The findings indicate that 4Ps and 5IDs have a significant effect as controlling variables in the decision-making process for innovation adoption. This fact shows a strategic function and illustrates that supply–demand factors have a pressure effect on the innovation adoption process in the market. The results are important both for satisfying consumer expectations and for industrial innovation strategies. |
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Keywords: | adoption crab innovation demand factor marketing mix seafood |
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