SWOT Analysis of the Truffles Market in Greece

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British Food JournalSWOT analysis of the truffles market in Greece

Vaia Tsitsipati Christodoulou AthanasiosArticle information:

To cite this document:Vaia Tsitsipati Christodoulou Athanasios , (2014),"SWOT analysis of the truffles market in Greece", BritishFood Journal, Vol. 116 Iss 12 pp. 1976 - 1997Permanent link to this document:http://dx.doi.org/10.1108/BFJ-12-2012-0293

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SWOT analysis of the trufflesmarket in Greece

Vaia Tsitsipati and Christodoulou AthanasiosDepartment of Forest Economics, Faculty of Forestry and Natural Environment,

Aristotle University of Thessaloniki, Thessaloniki, Greece

Abstract

Purpose The purpose of this paper is to investigate the suitability of Greece as a possible market fortruffles. Primary data were collected and analysed in a systematic and detailed way to highlightthe strengths, weaknesses, opportunities and threats of this prospective market development.Design/methodology/approach A multi-stage survey was conducted using qualitative andquantitative research methods. The data obtained were analysed using the SWOT analysis method.Findings The survey highlighted the market characteristics of truffles in Greece. These were sorted

into four categories: strengths, weaknesses, opportunities and risks. Results show that truffles have anattractive mix of qualities; however, issues such as the lack of intermediary and customer knowledgeand the limited communication of their benefits need to be overcome.Research limitations/implications Findings showed that the use of SWOT analysis inspecialized food products provides marketers and professionals insight and guidance into designingtheir marketing activities.Practical implications Truffles production or trading requires strong commitment by professionalswho want to succeed in this market field.Social implications Truffles market growth could contribute to the social welfare through thecreation of supplemental income, the cultivation of arid fields and the conservation of naturalresources due to their environmentally friendly manner of production.Originality/value For the first time, SWOT analysis is used to investigate the factors that shapethe market of specialized products in the food sector.

Keywords Marketing strategy, Specialized products, SWOT analysis, Truffles

Paper type Research paper

IntroductionForests are the source of a variety of commodities. Besides wood, which is the basicforest commodity with commercial value, there are several other non-wood forestproducts. Some of these, such as truffles, have a high economic value; however, formany years they had been ignored (Gold et al., 2004). This happened because theseproducts are usually characterized by unique attributes and, thus, require specialtreatment. However, cultivation of such products creates opportunities for local peopleto earn supplemental income, in many cases greater than the cultivation of conventionalagricultural products. Simultaneously, their cultivation in environmentally friendly wayscontributes to protection and conservation of natural resources.

Truffles are one kind of specialty forest products. They are hypogenous edible fungithat undergo a complex life cycle during which their mycelium establishes a symbioticinteraction with the roots of trees, such as oak, poplar, willow, hazel and some shrubs.They are known worldwide as a commercially valuable delicacy, which are characterizedby their unique taste and their distinctive aroma resulting from a blend of hundreds ofvolatile compounds (Mello et al., 2006). These special traits together with a numberof others such as their scarcity, their limited availability and their delicate nature meanthat truffles are prized as a unique and luxurious delight in international food markets(Cianiet al., 1992). In Greece, truffles are not widely known among consumers; however,

The current issue and full text archive of this journal is available at

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Received 3 December 2012Revised 16 December 2013Accepted 17 December 2013

British Food Journal

Vol. 116 No. 12, 2014

pp. 1976-1997

rEmerald Group Publishing Limited

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DOI 10.1108/BFJ-12-2012-0293

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recently their high profitability has stimulated the interest of businessmen, whorecognize truffles production and trading as an activity with high earnings potential.Nevertheless, truffles have raised controversial opinions among people concerned. Themost optimistic of them regard this business activity as positive for rural economies and

as contributing to the remedy of the economic crisis experienced by the country atpresent. Others forecast that truffles cultivation and trading are high-risk activities,despite their worldwide popularity. The lack of market information and the limitedexperience in methods of production cause additional confusion or concern amonginterested parties.

SWOT analysis is a research methodology that can help in understanding theenvironment of emerging and potential markets (Kotler, 1997). Usually, this methodinvestigates macro and micro environment factors influencing such markets(Beckeman and Skjoldebrand, 2007). In addition, this method is popular amongmarketers who want to analyse the forces influencing markets of specialty products(i.e. niche markets). Unlike traditional markets where marketing practices are used,niche markets are characterized by limited information, confusion over quality standards

and absence of established institutions. Therefore, such markets are difficult to decode.The truffles market presents most of these characteristics; for this reason, SWOTanalysis is suggested to be the most appropriate research method by this study.

The increasing demand for truffles in Greece, together with their importance forthe rural economy, have prompted the present research, which seeks to explore thesuitability of the Greek market for truffles. The SWOT analysis method was appliedto thoroughly investigate the truffles market in Greece, offering valuable informationand strategic guidelines for managers and researchers.

Theoretical frameworkSpecialty products (in general)Consumer products are classified in categories based on some criteria. Copelands

(1923) classification is the most accepted by researchers and managers. He proposed aclassification of goods in three basic categories: convenience, shopping and specialty.The main criteria in which his classification was based were price, quality, image andshopping effort. According to him specialty goods have some particular attraction forthe consumer. Consumers do not compromise with substitutes of specialty products, onthe contrary they insist on buying the original (Nia and Zaichkowsky, 2000). Murphyand Enis (1986) referred to some particular attributes of specialty products, the mostimportant of which are the higher perceived buying risk and the high degree of effortduring the buying process. Examples of specialty goods are expensive cars, clothesby well-known designers, hand-crafted products, foods and wines produced byspecialty manners or originated from specific places. Reaching the specialty productcategory is a major objective of many marketing managers (Murphy and Enis, 1986).

But, enterprises that would like to cope with specialty product category are facedwith uncertainty and market risk associated with the unique and specialized natureof specialty food products. However, the marketing of the specialty productscould provide them with a competitive advantage by being early entrants in a prospectinnovative sector (Zahra and Covin, 1993). According to Murphy and Enis (1986),the identification of the specialty attributes is the most critical stage for asuccessful product strategy. Then, the adoption of practices customized both to theparticularities of products and the special needs of consumer segment, is necessary(Beverland, 2005).

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Specialty food productsSpecialty food products belong to a market sector which attracts increased attentionover the last decades. The demand for them is growing, mainly because of theconsumers exposure to ethnic and gourmet flavours and the changes of food

consumption patterns. As specialty are characterized food products either because oftheir special intrinsic nature (e.g. distinctive features, physical and sensory attributes,raw material) (Kupiec and Revell, 1998), or because they have been submitted totechnological process in order to be differentiated from other products (Niederhauseret al., 2007). A variety of specialty food products exists in the international marketplace,many of which have great economic value. Specialty and artisanal cheeses (Kupiec andRevell, 1998), regional foods including Jersey Royal potatoes and Scotch beef (Kuznesofet al., 1997), luxury wines (Beverland, 2004, 2005), Washington apples (Winfreeand McCluskey, 2005), specialty coffee (Niederhauser et al., 2007), spelt (Stefani et al.,2005), salami Bergamo (Cavanaugh, 2008) and others. The specialty food products arecharacterized by premium quality, uniqueness and scarcity. They are produced by smallscale producers or by individual farmers in limited volumes, because they are not designated

for mass consumption but for special occasion use (Murphy and Enis, 1986). In most casesconsumers have to pay premium prices to acquire those products (Stefani et al., 2005).

Management/marketing strategiesA comprehensive and consistent marketing strategy should be based upon productcharacteristics. Specialty food products need specific strategies in accordance to theirparticular nature. They are associated with consumers with a more cosmopolitanprofile, which are motivated in their consumption by their unique attributes.According to Kuznesof et al. (1997) a number of personal, product-related andsituational factors are interacted with during the buying decision process. Personalfactors, such as existent knowledge and past experience, influence the perceptionabout food. Consumers choice behaviour and decision-making process depend on

quality expectation, created by the consumers previous satisfaction or disappointmentwhen consuming the product (taste, smell, texture or other sensory characteristics)(Kupiec and Revell, 1998). Product-related factors such as pricing, quality, quantityand packaging could affect perception of quality. For that reason, product design, ingeneral, needs special care in order to reflect the special needs and expectations of theconsumers (Beverland, 2005). Pricing for specialty food products is particularlyimportant because buyers link the price with the expected value or performance of theproduct (Stefaniet al., 2005). Presentation and packaging have to be very sophisticated,made from particular materials, which highlight the distinctive character of specialtyfoods and give important information, such as place of origin and ingredients (Kupiecand Revell, 1998). Situational factors, like the place or the occasion, where the specialfood products are consumed, play an important role. That happens, because the image

reflecting by these products is enhanced when they are consumed on special events oranniversaries and when they are served in gourmet restaurants cooked by professionalchefs (Surlemont et al., 2005).

Murphy and Enis (1986) suggested a framework that can help managers by givingthem general instructions on their decision making. According to their plan, managersneed to focus on buyers perceptions, marketers objectives and specific strategiesfor marketing mix. From consumers aspect, specialty foods are goods of high effortand risk, and so the buying process is for them complicated. Marketers main objectiveis to identify the appropriate consumers segment or market niche, where specialty

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food products could be successfully addressed. Then the basic task of managers is todevelop the loyalty of that niche. The key concept in designing specialty foodproducts marketing mix is the adjudgement of products to consumer expectations andneeds. Price plays an important role. Since buyers pay premium prices for specialty

products, they expect high quality level of them. Distribution and promotion policyneed special attention. For specialty food products it is proposed a selective distributiononly in specialty outlets and in some exceptional cases it is required an exclusivedistribution by the producer (Stahle and Ward, 1996). Because of the unique nature andthe range of particularities of specialty foods, consumers have to be approached eitherthrough individual advices offered by experienced personnel in speciality shopsor through personal selling product display in the customer place (Kupiec and Revell,1998). By these methods the products uniqueness and its exclusive image are intensifiedand the aim of fulfilling the particular needs of individuals is succeeded.

Materials and methodsIn order to achieve a comprehensive study of the truffles market in Greece,

a combination of qualitative and quantitative methods was employed. This approachallowed triangulation of the collect data, ensured the validity and reliability of theresults, and provided the opportunity to explore various aspects of the subject studied(Tamagnini and Tregear, 1998; Scott, 2006).

Triangulation is a very popular technique of research in the social sciences.According to Cohen et al. (2005), this method was used first by navigators andexplorers in their attempt to locate geographical spots. It refers to the use of multiplemeasures to capture a construct (Campbell and Fiske, 1959). It offers a more detaileddescription or explanation of complex subjects by studying them from more than onestandpoint (Cohenet al., 2005) and it achieves to bring into clearer focus the constructof interest (Crano, 1981). Methodological triangulation helps avoid the danger ofgenerating biased data by using one single method (Denzin, 1989). In contrast to one

single method, the multiple methodological approach provides researchers with manyaspects of the subject under consideration ( Jacoby, 1978).

The difficulty in achieving a good measurement reveals the importance oftriangulation. Researchers choice, which method to use, effects on the validity of thestudys results. Advances in research force researchers to triangulate across manyfactors (data, investigators, theories, methodologies) in the research setting (Cook, 1985).They need to apply multiple methods to reach clarity about the concept underconsideration. Pure measures and simple analysis strategies belong to the past (Iosifidis,2003). Current trends in science suggest indicating the multiple causation and interactivepatterns of studied phenomena ( Joreskog and Sorbom, 1984; Rosenthal, 1991).

Qualitative researchQualitative research methods are commonly used when the subject in question is beingexplored for the first time and, thus, new insights and awareness are being sought(Krueger and Casey, 2000). The issues, not being defined in advance, can emergeduring the course of the research. The main objective of qualitative research is todevelop new knowledge rather than to collect fact and numbers (Cohen et al., 2005).Such methods may be used in combination with quantitative research methods in anattempt to capture the full complexity of a research subject. In addition, in this study,the qualitative research was used to identify issues for consideration in drafting thequestionnaire of the quantitative research that followed.

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The scope of qualitative research was investigated through two surveys, one of allparticipants at professional level in truffle market such as producers, chefs,restaurateurs, distributors, retailers and the other of specialty food consumers.Several qualitative methods are referred in literature. In this study, in depth interviews

were applied to investigate professionals and as well as focus groups to investigateconsumers.

In-depth interviewsIn-depth interviews are personal interviews conducting with people who are consideredexperts on a specified subject in order for new ideas to be expressed (Iosifidis, 2003). Thismethod provides the opportunity for investigating and evaluating participants beliefs,preferences and attitudes. In addition, participants were enabled to define a phenomenonin a particular way and to state their opinion clearly. In this study, interviews were notfocused on a specific theme; rather, topics and issues were discussed in a relativelyunstructured sequence during the conversation. The interviews were held withindividuals involved with truffles at a professional level. The sampling frame was drawn

from lists obtained from the Commerce, Industry and Professional Chamber ofThessaloniki. Having identified the first participants, the snowball sampling was used inan attempt to broaden the relevant sample (Stathakopoulos, 2001). In depth interviewswere conducted over four months (from 20.05.2009 to 15.09.2009). A total of 14 interviewswere conducted. Each interview followed a semi-structured questionnaire making itpossible to explore new and complex ideas, whilst facilitating the comparability of someresponses between participants (Tull and Hawkins, 1993). All interviews were recorded,and the responses were sorted into thematic categories through the use of contentanalysis (Dimitropoulos, 1994).

The semi-structured guide-questionnaire was divided into five thematic parts.The first part attempted to identify the level of awareness of truffles by professionals.They were asked how long they knew truffles, when and where they first tasted them

and how they felt about their taste and smell. In the second part, type of productspurchased (fresh or processed, different species) and seasonal fluctuations onpurchases were discussed. The interviews allowed identifying the most popular typesand species of truffles in Greece. In the third part, the determinants of consumerpurchasing behaviour were investigated. Professionals were asked to point out themost important factors, which influenced purchase decision process and the mostimportant reasons by which consumers were motivated to consume specialty foodproducts in general and especially truffles. In the fourth part, professionals stated theiropinions about customers attitudes towards specialty products in general and trufflesparticularly; food preferences, shopping habits, frequency of purchases, type of outlets.Moreover, they were asked to propose ways to highlight truffles specialty and uniquenature and to intensify consumers awareness of truffles in order to increase the

frequency of their consumption. Lastly, professionals stated their opinion aboutthe truffles future in Greece. They referred to the further development of this sectorand to the prospect profits from dealing with truffles production and commerce.Findings, of in depth interviews were compared and related with findings of focusgroups interviews.

Focus groupsIn focus groups, a number of people discuss a theme, interacting each other and underthe guidance of an interviewer (Stathakopoulos, 2001). This research method is chosen

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when there is an attempt to go deeper into the motivations of participants and to revealunexpressed sentiments and latent incentives about a phenomenon. Usually, it isused in educational research as an explanatory device to help identify variables andrelationships (Cohenet al., 2005). This methods main advantage is the production of a

great number of different statements about the same topic through the interpersonalinteraction.

There was a loosely structured schedule by which issues were addressed duringthe conversation; this approach was used to organize the data and to increase thecomparability of responses (Folch-Lyon and Tros, 1981). Five focus groups werewith a combined total of 25 participants. Participants were people who had recentlyhad a truffles experience (i.e. they had either tasted truffles in a restaurant or hadpurchased a truffle product from a specialty shop). At the end of each focus group,participants were asked to complete a short questionnaire containing demographicand psychographic data, as suggested by Folch-Lyon and Tros (1981) and Petrakis(1999). All conversations from focus groups were digitally recorded (as were in depthinterviews), and they were analysed through the method of content analysis

(Dimitropoulos, 1994). Focus groups were conducted over the same period with indepth interviews.

The main issues discussed during focus groups were classified into three thematiccategories: equity product, marketing mix, attitude and consumers behaviour.First, truffles perceived equity by consumers was investigated. Consumers preferencesabout taste, smell and other sensory characteristics, and their aspects about trufflesrole in Greek cuisine were discussed. The second thematic part referred mainly toextrinsic characteristics of truffles and to information giving the general instructionsin the marketing mix design. Thus, subjects were asked to pose their opinionsabout price, packaging, different types of products, different ways of use and cookingcombinations. Also, they were asked how frequently they buy special products ingeneral and from where (e.g. supermarkets, specialty outlets), and if they are willing to

pay premium prices for high quality food products. Finally, they were asked to mentionhow they were informed about the new food trends (e.g. TV shows, magazines, byword of mouth). Last section was dedicated to description of consumers attitude andbuying behaviour, towards specialty food category. Respondents stated their aspectsabout gourmet products, mushrooms, French and Italian cuisine. The reasons behindthe emerging trend were defined in tasting new food and the factors changing theconsumers food patterns were determined.

Quantitative researchQuantitative methods are particularly appropriate in social research wheninvestigators attempt to identify typical patterns of human behaviour and to revealfactors influencing them (Charisis and Kiochos, 1997). Usually, methods involve large-

scale surveys of representative samples of population (Matis, 1994). They allow theaccumulation of a much larger volume of data and number variables, extending over amuch wider area of knowledge than would be possible with other methods (Cohenet al., 2005). The quantitative method selected for the purposes of this study was theconsumer survey, which was operationalized through a questionnaire. The questionnaireis a widely used and useful instrument for collecting data in a systematic way, providingstructured and numerical results. In comparison with qualitative methods, the greatadvantage of a questionnaire survey is that it provides comparability of the data andfacilitates their organization and analysis.

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Consumer surveyThe consumer survey was conducted in the city of Thessaloniki on a sample of 303consumers (men and women aged 18 to 75 years). Thessaloniki was chosen, as theconcentration of specialty food retailers and distributors indicated it as a proper

potential market for new food products (Tamagnini and Tregear, 1998). The samplecollection method was the mall interception technique, which is one of the mostpopular methods among market researchers (Bush and Hair, 1985). Usually, thismethod is recommended in early stages of product entrance in a market, to helpdevelop new concepts for additional testing or to screen out obvious product failures(Kuznesof et al., 1997). Its advantage is mainly the convenience of using a centrallocation, visited by large amounts of customers of the target population (Nowell andStanley, 1991). In this study, the sample collection locations were specialty shops,restaurants and the National Institute of Agricultural Research (NAGREF), wheretraining seminars were organized for professionals who want to cultivate or tradetruffles products. Additionally, other reasons, which force many researchers to preferthis method, are low costs in gathering data in comparison with other methods

(e.g. door-to-door interviewing) (Bush and Hair, 1985), the absence of a sampling frameand the provision of several representative samples of the population underconsideration (Tull and Hawkins, 1993; Churchill, 1995). Dupont (1987) had provedthrough a study that the use of mall interception technique as a method of datacollection in commercial marketing and advertising research, does not affect eitherthe demographic profile of the resulting sample or the substantive results of the survey.For unbiased estimates, in this study, shopping centres have been selected bymultistage area probability sampling method (Sudman, 1986) and interception forinterviewing took place in entrance of shopping malls or restaurants (Nowell andStanley, 1991). The research was undertaken throughout the year 2010.

Questionnaire

The data were collected via an interviewer-administered questionnaire of five thematicsections, through which it was aimed to examine the factors influencing the trufflesmarket in Greece. These sections were: truffles equity, consumer involvement profile,attitude and consumer behaviour, marketing mix and demographic data. Thequestionnaire consisted of 111 questions coded in two ways: first, a five-point Likert-type scale ( Jamieson, 2004) (1-5 signifying strongly disagree, disagree, neither agreenor disagree, agree, and strongly agree, respectively) and second, a five-point Likert-type scale (1-5 signifying not important, somewhat Important, important, veryimportant and most important, respectively) (Siardos, 1999).

Each section consisted of subsections, where the dimensions of concepts underconsideration were investigated. The conceptualization of the first section, where trufflesequity was examined, was based on the theoretical model of brand equity. According

to Aaker (1996), the most important dimensions in measuring the brand equity of aproduct were brand awareness (or knowledge), brand associations (or connections), brandperceived quality and brand loyalty (or commitment). Additionally, through the study ofprevious research on specialty products, three more dimensions were recognized andincluded in the questionnaire: social acceptance (or conspicuous consumption) (OCassand Frost, 2002), the environmental value (or benefit) (Orth et al., 2005) and the social(or human) value (or benefit) (Tsai, 2005; Anselmsson et al., 2007). A number of itemsderived from the studies of Lau and Lee (1999) and Yoo and Donthu (2001) along with thefindings from the qualitative research were used.

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The second section, which was dedicated to consumers involvement profiledefinition, was constituted of six dimensions. Consumers involvement profile providesstakeholders with valuable information about their buying intentions and givesnotions about weaknesses in a strategy which needs to be improved (Mittal and Lee,

1989; McWilliam, 1997). Consumers involvement in a product could affect considerablytheir reactions in marketing and advertising activities. According to Kapferer andLaurent (1985), consumers involvement profile was determined by five criteria:personal interest, hedonic value, symbolic value, risk importance and risk probability.Drichoutis et al. (2007) found that in the case of food products more factors need tobe assessed, in order to estimate consumers profile involvement, such as country oforigin, nutrition value, price, taste and ways of cooking. So, one more dimension,named product characteristics, included in the questionnaire.

Consumers attitude and behaviour were examined in the third section ofquestionnaire. Past experience had proved that the study of consumers lifestyle couldshed more light on latent stimulus and motivations of an expressed behaviour (Miller andGinter, 1979). Probably, it could also explain the causal associations which result in

particular attitudes and the most important could forecast consumers buying intentions(Padberg and Westgren, 1979). Given the lack of existent, research about buyingbehaviour and attitudes towards truffles, in configuration of this section dimensions,findings of other studies on consumer behaviour and attitudes towards luxury, gourmetand specialty products were applied. So, this section separated in six parts, examiningthe basic dimensions of attitude and behaviour, which were self-directed pleasure(Sweeney and Soutar, 2001), self-gift giving (Tsai, 2005), quality assurance (Tsai, 2005),spontaneity (Baueret al., 2006), variety seeking behaviour and innovative behaviour inthe food purchase and preparation (McCarthy et al.,1999; Broderick, 2007).

In the fourth section, four elements of marketing mix in the case of truffles wereinvestigated. According to Kotler (2000) managers need to plan a set of actions in orderto succeed in a market sector. In particular, they need to design a marketing mix plan,

where these actions are determined. The aim of a marketing mix plan is first to findand then apply the best practices for succeeding in four strategic axes: product design,price definition, promotion and place policy (McDaniel and Gates, 1995). A number ofitems, originated from previous studies (Dodds et al., 1991; Mitchell, 1998; Larocheet al., 2001; Moon et al., 2008), included in the questionnaire in order to reveal theparticularities of truffles, which managers need to take into account for designing amarketing mix plan.

In the last section, questions about consumers demographical characteristics werecomprised, which, on previous studies, have been found to influence consumers ofspecialty food in general (Ling et al., 2004). In many surveys, demographic characteristicswere used as a basic segmentation criterion of markets (Montgomery, 1971; Lockshinet al., 1997). These characteristics are considered to be helpful in the definitionof the typical consumer of a product category (McDonald, 1993). Additionally, somedemographical variables have been found to correlate with behavioural and socialvariables in causal models intending to explain purchasing decision process (OCass andLim, 2001; Verhoefet al., 2002). The variables included in this section were age, gender,marital status, educational level and family annual income.

Data analysisQuestionnaire items were subjected to a Principal Component Analysis in order toevaluate the validity of the scale measurement (Kim and Mueller, 1978; Johnson and

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Wichern, 1992; Norusis, 1992). Ratings of items were factor analysed using themethod of maximum likelihood with varimax rotation (Siardos, 1999). The criterion ofeigenvalue was used in order to determine significant factors (Hair et al., 1995; Sharma,1996). To check internal consistency the correspondent discrimination indexes were

calculated, which were the corrected linear correlations (Pearson) of items with ratingsof the consumers answers (Siomkos and Vasilikopoulou, 2005).

The internal reliability of the whole scale was tested by Cronbachs a (Kim andMueller, 1978; Spector, 1992; Norusis, 1992; Hair et al., 1998) and each factor was testedby the reliability coefficient CCR (composite construct reliability reliability advancedconceptual structure) (Bagozzi, 1980). Statistical indexes were estimated via statisticalpackage SPSS v. 15.0 with the installed subsystem exact tests (Bryman and Cramer,1997). Results were considered significant at po0.05.

SWOT analysisSWOT analysis is one of the most commonly used theoretical tools in the science ofmarketing (Kotler, 1997). By this method, a systematic analysis of strengths,

weaknesses, opportunities and threats in the environment of a new or prospectiveproduct is conducted (Reynolds-Zayak, 2004), highlighting the main factors influencingemerging and potential markets and indicating a viable framework for marketingactivities. According to Kotler (2000), when this method is applied for a firm, thestrengths and weaknesses, which usually characterize its internal environment, areexamined in regard with issues like: resources, production methods, marketingdecisions, skills and management. The opportunities and risks describe the externalenvironment, which is distinguished in terms of macro- and micro-environment(Beverland, 2005). Kotler (2000) reports that the macro-environment of a firm formedby demographic, economic, political, legal, technological, social and cultural factorsand the micro-environment consists of customers, competitors and distributors. In thepresent study, this categorization was not followed strictly; the method was adapted to

the specific case of the truffles market in Greece. In this case, the strengths andthe weaknesses are issues determined by people involved with the business activity ofproducing and selling truffles. In contrast, the opportunities and the risks are issuesdetermined by institutional forces; thus, marketing strategies should adapt to them.The continuously changing attitudes and social patterns stress the importance ofmanagers identifying and taking advantage of the strengths and opportunities, whilesimultaneously avoiding risks and improving weaknesses.

ResultsQualitative researchStakeholders-state of the truffle sector in Greece. Producers have reported that trufflesin Greece are collected mainly in natural forests and less in plantations, because the

majority of the last are newly established. Organized truffle associations do not exist,and for that reason truffle collectors usually operate alone. There are no official recordsabout the real amount of truffles being collected or produced in Greece each year fortwo main reasons: first because of the small amount of the collected truffles andsecond because of the unofficially way of trading. Additionally, the lack of a nationalframe law, which would allow the control of the collection, the cultivation and thecommercialization of truffles, has as a result to allow collectors to operate in publicand private areas too, without having a license and without respecting the privateproperties.

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Truffle collectors carry on this activity for reasons of pleasure, interest of theenvironment, new gastronomy experimentations and earning additional income.They use trained dogs for the detection of the spot where truffles are laid, and theyhave special instruments for taking them out from the soil carefully, without injuring

the vulnerable routing system of the hosting trees.Professionals interviewed have reported that there has been a demonstrated interest

in trading and consuming special food products in general. This trend would beperceived to be highly attractive under the light of economical crisis, which severalindustrial sectors experience in many countries, because it offers opportunities forpromising business activities. However, consumers and professionals level ofknowledge and experience in truffles is low. Many of them have just learned aboutthem and some of them have not even tasted them. Therefore promotional strategiesneed to be designed in order to increase products awareness and to stimulate trufflespurchases.

The price of truffles is increasing every year. The prices also vary between thespecies, the season, the year of production and the place of origin. Very high quality

white truffles could be sold forh3.000/kg. Consumers, who had not tasted truffles noteven once, hesitate to buy them because of their high price. Therefore, first it is neededfor consumers to learn about truffles, and if they feel satisfied from their taste, thenthey are willing to pay their premium price. Also, retailers consider as very importantto inform consumers about the possible ways of cooking truffles, in order to buy andprepare them home alone.

All participants interviewed in the course of this study such as stakeholders(producers, retailers, distributors, chefs, restaurateurs) and consumers have indicatedthat truffles is a promising business activity, as the expressed interest by all potentialindustry and commercial consumers is continually growing. Discussions withprofessionals indicated that there would be no problems in selling any amountproduced, as long as, the truffles are in good quality. If that is achieved, then it is

needed to target specific consumers groups, where truffles are promoted and to use aminimum of advertising in order to increase the level of awareness. The adoption of alimited distribution policy will also contribute intensifying uniqueness to the product.

Consumers. The changes in food consumption patterns are mentioned as the mainreason of rapid growth of specialty food sector in Greece. Professionals describedtruffles consumers as people who express an interest in tasting specialty food ingeneral. They show a preference on gourmet foods and mushrooms in general and theyare keen on French and Italian cuisine. An endless request for new experiencesand adventures is a basic characteristic of modern consumer attitude. It seems thatthe contemporary consumer has developed sensory skills and for that reason he canappreciate the individual and unique characteristics of specialty products in comparisonwith industrial manufactured products resulted in creating of new marketing

opportunities. They are usually informed about new trends in food from magazines.Also, some of them travel a lot abroad and for that reason they are influenced from ethniccuisines. They are motivated in purchasing and consuming truffles by their specificsensory characteristics (taste, smell, texture) and they can perceive slight differencesamong various truffles species. They focus on their unique characteristics and distinctivecharacter and therefore factors, such as price, packaging or nutritional value are of lessimportance, for them who are characterized by a variety seeking behaviour.

Products. Stakeholders survey has provided information about the trufflescharacteristics mostly preferred by customers. The most purchased products were

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Tuber aestivumand Tuber magnatumin processed form. Fresh truffles were scarcelypurchased, because of their limited availability and their high price. Among processedproducts truffle oils were most popular and presented a strength growth in sales.They are primarily used in salads and cooking at home, and they are also used by the

catering, restaurants and food industry. Creams, butters and honey flavoured withtruffles were reported to be very popular both for domestic and commercial use.

Greek truffles have to compete with species originating from countries with a longtradition of truffle culture. Italy and France are the major producers of truffles, whosupply the international market with large amounts of truffles every year. Moreover insome areas of these countries, precious species are growing, which can not befound anywhere else (e.g. white truffles from Alba in Piedmont). In addition to that,competition is arriving from the neighboring countries like Serbia and Albania where alot of species are found (mainlyTuber aestivum). China truffles appeared in the marketin the last years, too. They have lower prices and they are preferred by customers, a lot.

Quantitative research

Truffles equity. Results showed that the consumers perception about truffles qualitywas positive. Although, their product awareness was low, they considered truffles as ahigh quality food with a high economic value. The most referred associations oftruffles by them were their particular way of gathering from nature, haute cuisine,gourmet meals, luxurious restaurants and the celebration of special occasions. Also,some of them were aware of the mysterious way in which truffles grow in forests.Although, the frequency of truffles purchases was occasional, consumers expressed ahigh level of loyalty to truffles as a gourmet product, without being always theirfirst choice. They were not motivated in their purchases by truffles luxurious image, inorder to impress their social environment, but they were interested in merits derivedfrom their cultivation and commerce for society and environment. The opportunitiesfor new business activities and source of income for local people through

environmental friendly cultivation methods exerted great influence on their buyingdecision.

Consumers involvement profile. Consumers attach a high symbolic value ontruffles. They are renowned as a symbol of luxury and conspicuous consumption.These associations can be used by marketers to evoke consumers interest towardstruffles. Most buyers expressed a median level of personal interest in truffles, probablybecause truffles are a new ingredient in Greek cuisine and they are not familiar withthem. A lot of them have not tasted them. A significant proportion of buyers feltdisappointment from truffles taste and aroma, resulting in a median level of hedonicvalue. This may have happened because chefs or housewives are not familiar withthe cooking methods which better reveal the taste and aroma of truffles. Truffles arerelated with a high perceived purchase risk importance. This probably happens

because of their premium prices and their high value of money ratio. Thereforeconsumers expectations about quality standards are high. It is therefore inferred that alower quality product than expected, could cause a great disappointment. Some oftruffles characteristics seem to exert a great effect on consumers choice, such asthe country of origin, the price, the taste and the cooking methods. Countries of originexert a great influence, as buyers prefer truffles originated from countries with a longtradition on truffles sector. Price operates positively as a link with high quality andstimulates consumers curiosity. Good taste drives consumers choices. They preferproducts with good taste from past experience. The easy ways of cooking in both

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domestic and commercial occasions encourage consumers to buy them. Least of all,nutrition value is important to consumers decision.

Attitude and consumer behaviour. The investigation of consumers attitude andbehaviour showed that customers buy truffles mainly for reasons of personal self-gift

giving and pleasure and not for fulfilling needs about social acceptance and conspicuousconsumption. Luxurious character of truffles does not exert great influence on theirbuying behaviour. Consumers buying intention is motivated from truffles specialty andunique nature. They express a variety of seeking and innovative behaviour in the foodpurchase and preparation. However, they mention that they need guidance on how tocook them, because the majority of consumers in Greece have neither tasted them norcooked them home alone. They like to experience new tastes especially when theyoriginate from international cuisines. They avoid buying truffles for personal usebecause they do not know how to handle them. On the contrary they prefer to taste themin a restaurant, where truffles will be personally prepared by an experienced chef.They seek quality in their nutrition and they need to feel sure about their choices.Therefore they avoid spontaneous purchases.

Marketing mix. In abroad, and mainly in countries with large amounts of truffleproduction, open-air markets and fairs, where truffles are sold, take place every year.At these markets farmers personally sell their products directly to the customer. Thereboth retailers and consumers could see truffles and judge their quality and then decideif they will buy them. In Greece the small amounts of truffles are sold directly to localmushrooms traders. Consumers can obtain truffles from specialty outlets and specialtyfood departments of supermarkets. This exclusive distribution reinforces theirauthenticity and uniqueness.

Because of the limited shelf life of truffles, a great proportion of the production isprocessed to preserved products. Fresh truffles prices vary a lot and are influenced byseveral factors: species, flavour, lack of damage, season, availability and country oforigin. Prices of preserved truffles are relatively lower than of those of fresh truffles,

and therefore they are accessible to larger group of consumers. Retailers have reportedthat despite their high prices, if Greek truffles achieve a high standard quality, then anyprice should seem reasonable.

Conventional methods are not recommended for truffles promotion strategy.Because of the great range of their particularities, personal sales and event marketingthere are more appropriate methods. Activities, such as conferences, trade displays,cooking truffles nights in luxury restaurants offer a great chance for advertisingtruffles to large crowds of targeted consumers gathered in the same place, sharing acommon interest, e.g. specialty food.

Demographic characteristics. Socioeconomic and demographic characteristicsof truffles customers derived from the quantitative survey were in accordancewith that reported by professionals in their attempt to describe their clientele.

A typical truffles consumers age average is 38 years old, had a household withchildren, was the main shopper of the family, and its annual income was higher thanthat of the middle class and was rather well educated. There was no genderstereotype.

SWOT analysisThe results obtained from the qualitative and quantitative research were analysedusing SWOT analysis and are presented in order of the four thematic categories:strengths, weaknesses, opportunities and risks.

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Strengths. The main finding of the research was that the special attributes oftruffles resulted in the creation of their unique and authentic nature. Thus, theseattributes operate as the strength points guiding marketing managers attempt topromote truffles in the Greek market. Many products succeed in the marketplace

primarily because of their specific attributes. The special flavour and the strong aromaare truffles most renowned attributes, associated with a high quality, whichdifferentiate them from other edible mushrooms. These characteristics help them standout in the category of gourmet products, emphasizing their high-end social image. As aresult, peoples interest is stimulated, resulting in premium prices of the product beingconsidered fair. Premium pricing is the key concept for the endorsement of truffles byconsumers as specialized and luxurious food products. Additionally, their luxuriousnature is reinforced by the fact that truffles are mainly consumed in luxuriousrestaurants or at special events, enhancing perceptions of their authenticity.

Moreover, the results showed that Greek consumers express a strong preference forindigenous raw materials for their nutrition. They believe that products farmed andproduced in their region are of superior quality for two reasons. First, they are preferred

because of the unique climatic and geomorphologic environmental conditions, whichresulted in the flourishing of agricultural commodities with a local flavour. Second, theyare preferred because local natural resources such as water, soil and indigenous crops arenot polluted due to the limited industrialization of the country. These beliefs are of greatimportance for the growth of the truffles market in Greece, where indigenously producedtruffles are in competition with imported truffles. The importance of the concept aboutfoods produced in domestic areas is crucial in overcoming the international competition,offering a unique strength be used in the marketing strategy.

Weaknesses. In contrast to conventional agricultural products, specialty productslike truffles often need a particular treatment. Results of the present study showed thattruffles production and marketing in Greece present a unique set of challengesfor new producers. First, truffles require specialized methods of production because of

their distinct features. Farmers who choose to cultivate truffles have to deal withmore complex production systems than those required for traditional agriculturalcommodities in order to grow, harvest and profitably market those goods withouthaving previous experience. Additionally, the high installation cost presents a significantentry barrier. Moreover, with products in this category, there is inconsistency in thequality and volume of production due to the dependence of the cultivation on climaticvariables.

Second, there is a lack of detailed market information for issues of intermediary andcustomer knowledge. Producers and retailers already active in this market sector arereluctant to share their sources of information and knowledge for these issues, becausethese are so valuable. Instead, their attitude reinforces the fears and uncertainty,making it more difficult for newcomers to enter this new product enterprise.

Third, the truffles market, like other markets for specialty products, has a relativelysmall amount of customers. Specialty product markets differ from others in thatthey require a personalized approach to customers and not mass sales techniques.Managers have to carefully explore and target this small-scale market in order to gainacceptance and to choose the appropriate communication methods for stimulatingcustomer interest. Further, customers purchasing truffles are mainly attracted bytheir quality. For that reason, success in this market relies upon the concept of thevalue-added chain, where producers seek to increase benefits of the product tothe customers and to build a strong reputation for their business.

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Finally, the high price of truffles and their processed products is a basic weaknessthat prevents truffles widespread adoption by consumers. High quality is the mainfeature of truffles, as reflected in their premium price. However, consumers do notalways want to pay a premium price for attributes or benefits that are not considered

necessary. Thus, they do not consider it necessary to buy innovative and different food,especially when it is prohibitively expensive. However, this is strength of Greek-produced truffles. Due to their lower price than imported truffles, more consumerswill have the opportunity to try them, increasing their awareness. Simultaneously,promotion programs need to be applied in order their specific attributes be recognizedand valued by consumers.

Opportunities. The analysis of the truffles market environment showed theexistence of a small segment of potential consumers, who would be interest in them.However, this feature is not necessarily a disadvantage, as one would think at first.In contrast, their unique and specialized nature presents a competitive advantage forhigh profits compared to mass markets products. Truffles, like all specialized andluxury food products, fulfill a specific need for authentic taste, and for that reason are

not suitable for mass consumption. Thus, a small market segment could be provenadequately profitable. Moreover, the limited consumption and distribution of truffles isrequired for protecting their specialized character.

Based on the statements of professionals, the demand for specialized and continentalfood is growing. This is happening due to the changes in lifestyle and eating habitsamong Greeks. The amelioration of living, economic and educational standards has had amajor impact on demand for more sophisticated tastes, while the rise of holidays andtravelling abroad by younger people have led to the growth in demand for ethnic foods.Thus, these current trends combined with social and cultural changes encourage therapid promotion of truffles in the Greek market.

The various processing possibilities of truffles constitute another great opportunityof this market. Truffles, like most agricultural commodities, because of their delicate

nature, have to be consumed within a few days; otherwise, they will be unsuitable forconsumption. The possibility of truffles to be processed enables the better utilization ofexcess production and production of lower quality. Processed truffles products areof high quality and have lower prices than the fresh product, making them affordableto more consumers.

Risks. Substitute products could be a serious risk for new markets. As in all casesof unique, rare and luxury products, there are close substitutes, which can have aneffect on market prices by providing another option to consumers. In the case oftruffles, there are some species of similar features and very close in general appearance;however, they do not have the same marketable properties as the original. Thishappens because truffles species are very difficult to be identified by sight (onlymicroscopic examination can provide reliable results); thus, consumers could be misled

into buying substandard substitute products. Most recorded cases of misleading salespractices have been made with the north African origin specie terfezie, which is oftensold as the original valuable white truffle (T. magnatum) and with Asian black tr uffles,which are mixed with authentic melanospori truffles (T. melanosporum). In order toavoid the potential threat of loss in market profits by substitutes, informationregarding these substitutes is required; this will help develop the proper strategies.

The strong competition from imported products could be another obstacle for thewidespread marketing of Greek-produced products. This implies that local producershave to apply the production practices based on experience knowledge and technical

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know-how previously gained in cultivation of truffles to ensure that domesticcommodities will be of high quality in terms of flavour, aroma and other organolepticcharacteristics. If the eating experience does not meet with expectations, consumerswill likely not buy this product again. Consistency in quality is of great importance

for consumers who want to have the same eating experience each time. Otherwise, itwould be very difficult for local producers to compete with the high quality importedtruffles with established reputations.

As stated before, like many specialty forest products, truffles lack establishedmarketing institutions and legislative frameworks to regulate the activities of cultivation,harvesting, protecting and marketing. This causes even more confusion among youngprofessionals and increases the level of risk involved in this marketplace. Moreover,the absence of official rules in Greece has resulted in the widespread phenomenon ofcollecting truffles to sell from foreign property without the landowners permission, oftencausing damage. Only if a legislative framework is established will truffles cultivationand marketing became a profitable opportunity and more attractive to newcomers.

The above results of the SWOT analysis are summarized in Figure 1.

Conclusions implicationsVarious products with highly economic value are produced inside forests and aboutthem little is widely known. Markets of these products provide an option for successfor small producers and are proved to be highly profitable. However, many of themneed special treatment; thus, they are characterized by high levels of risk. Often,a wrong management decision could lead to serious economic consequences. Thisimplies a strongly required commitment by new professionals who want to deal witheither the production or trading of truffles.

Strengths Weaknesses

Opportunities Risks

Special attributes

Unique and authentic natureHigh qualityHigh-end social imageLocally produced from unpollutedsoils

Truffles market environment

High economic valueGreat international demandPossibility of being processedBetter utilization of excessproductionProduction of lower quality product

Substitute productsInternational competitionLack of established marketinginstitutions

Particular cultural treatmentLack of consistency in the qualityand volume of productionLack of market informationSmall in sizeHigh priceNeed for a value-added strategy

Figure 1.SWOT analysis: thefactors that shapetruffles market in Greece

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This study has attempted to investigate the suitability of truffles for theGreek market and to highlight the areas of interest on which managers should focusfor a successful business process. The specific goal was to identify critical marketcharacteristics influencing the possible development of this sector in Greece and to

give through SWOT analysis notions about strategic guidelines which should befollowed by major stakeholders. Strengths and opportunities were highlighted, fromwhich farmers, managers and other stakeholders could benefit. Also, weaknesses andrisks were identified, which should be overcome. As such, the study is intended to be acontribution to strategic management and marketing of specialty foods. Results showthat there is an emerging market, which is small in size, with special characteristics;this promises high profits, given the latent consumer demand. Due to the specificfeatures of truffles, particular treatment is needed not only in the stages of productionand cultivation handling, but also in all stages of the distribution chain, like marketing,promotion and sales. The main aim of a market plan should be to convert theseparticularities into a competitive advantage against other special foods for consumers.

The results suggest that farmers should try to produce products of high quality in

order to successfully compete with the imported products of established reputation.This result is consistent with findings of Stahle and Ward (1996) study, about trufflesindustry installation in New Zealand. But, in the case of Greek market, the lack ofknowledge about methods of production and the limited information about the truffleschain complicates this. The same constraint was mentioned by Goldet al. (2004), whoreferred to the black box on which all valuable information were hidden. This fact, incombination with high cost of cultivation installation, presents considerable entrybarriers to would be truffles farmers (Vollmers and Vollmers, 1999). However, successin this market segment is heavily dependent upon the ability of entrepreneursidentify the forces, tools and methods which influence this market and to integrate thescientific expertise and market knowledge linked with this new business activity intheir practices.

The success of truffles product in the marketplace is primarily based on theirunique attributes. Consumers who are not aware of the specific attributes of truffleswould not appreciate them. The role of communication is essential for increasing levelsof recognition and appreciation of the product among consumers. Therefore, acommunication program is essential in promoting truffles. Traditional methodsof promotion are not suitable for specialty food products (Beverland, 2004). Eventmarketing is proposed by Nicholls et al. (1999) as an effective way of promotionthrough which is succeed the exposure of a product to the desired target groupgathered at the same place for the same reason. Trade displays, special occasions,cooking evenings are some activities during of which truffles could be effectivelypromoted. However, others suggest (Murphy and Enis, 1986) that specialty productscategory could rely only on their reputation to be promoted to consumers. Publicity

gained by other consumers in combination with advertising could on one handreinforce the image of specialty foods and on the other hand help reduce the high levelsof buying risk strongly associated to specialty products (Winfree and McCluskey,2005). Additionally, truffles specialty imagery could be intensified through theirexclusive distribution on specialty food outlets and luxuries restaurants (Kuznesofet al., 1997).

In an attempt of profiling possible truffles consumers, it was found that consumersexpressing innovative food behaviour are the most likely to be consumers of truffles.Specialty food customers would be more innovative and involved within the food

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domain (McCarthy et al., 2001). They often seek after refined culinary experiences; theyare more interested in the good taste and the authenticity of the product, than theprice (Catry, 2003; Reynolds-Zayak, 2004). Managers should stress their promotionactivities on that segment of consumers, which seems to be the most profitable.

Truffles face constraints to growth in the current domestic market. The Greekmarket is not yet ready to absorb large volumes of product because of its lack ofrecognition by consumers. However, the international demand is great and it isexpected to continue increasing (Mello et al., 2006). Thus, farmers should look toforeign markets to ensure sale of their products. If Greek truffles are of high qualitystandards, then they will compete successfully with products originated from countrieswith long tradition in truffles industry. Anything less than a high quality product couldlead truffles economy to disaster.

The high price of truffles is the basic constraint in their widespread developmentin marketplace. However, Bettman (1973) found that product quality seemed to beassociated with increased price paid. Therefore, premium pricing is the key conceptconcerning the perception of truffles by consumers as specialized food products. Greek-

produced truffles are expected to have lower prices than imported truffles, becausethey are cultivated locally. This fact, in combination with the preference expressed bylocal people for indigenous products (Lampert and Jaffe, 1998), will result in increasedpreference of Greek produced truffles by consumers. Moreover, the various possibilitiesfor processing truffles provide another option for better utilization of excess productionand production of lower quality. Also, this option offers producers the advantage ofproviding truffles in a relatively lower price, in a stable standard quality andwith continuous availability. Thus, the disadvantage of premium priced is moderatedand the potential risk involved in this business activity is reduced (Kupiec andRevell, 1998).

Lastly, a legislative framework, which would regulate certain issues such asseason and places of cultivation, methods of harvesting, rules of conserving and

protecting of the natural resources and rules of marketing is required. The existenceof institutions will encourage new producers to enter into this profitable businessactivity, reducing the level of risk involved in this relatively unknown market(Petennellaet al., 2004). Additionally, a legislative framework could help to diminishthe potential threat of lower-quality substitutes entering the market.

Social implicationsTruffles are commercially valuable products, which gives rise to a specialised market,characterized by high marginal profits and international demand. None can doubt thattheir cultivation and trading offer an option for supplement income production;furthermore, this is possible without harming the natural environment or diminishingnatural resources. As others suggest (Vermeir and Verbeke, 2006), business activities

with positive effects on society attract peoples attention, who are sensitive on ethicaland social issues, influencing their buying decisions. Additionally, some people rightlyregard this business activity as contributing to a way out of the economic crisisexperienced by the country at present. This is because of the suitability of the Greekterritories to this type of production and because of the long agricultural tradition ofthe country, which indicate truffles business promising. Due to consumers increasinginterest in specialty food truffles in general, the development of the truffle sector inGreece seems to be profitable in terms both of production and processing, giving riseto a new industry.

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Further researchResults indicate a lot opportunities for future research. The database derived from themultimethodological survey is long enough for extended analyses. First of all, moreanalysis is needed to identify and assess the marketing opportunities for truffles in

Greece. Although the findings of this study highlight the areas on which managersand professionals should concentrate, extended primary research must investigatepotential consumer segments, with greater consumer samples from more places ofcountry. Second, consumer attitudes and behaviour have to be determined, becausethey are of essential importance for specialty products to achieve significant marketgrowth. Research must be also undertaken in forecasting consumer purchase intention,determining the variables influencing it. This would make it easier for managersto promote truffles and to increase their demand. It is also needed to identify ways ofmaking consumers more involved within this product category. If people are morefamiliar with (and, thus, appreciative of) the product and its attributes, they are morelikely to become consumers.

Finally, this research showed that specialty markets, like that of truffles, can be

effectively investigated by the use of SWOT analysis. However, empirical analysis ofthis method needs to be extended in the field of specialized food management strategy.This method allows a systematic analysis of internal and external environmentalfactors, which interact each other. It is hoped that this study will encourage otherinvestigators to conduct more intensive use of SWOT analysis in their own attemptsto study systematically the strategic relationships within forestry, agricultural andfood industries.

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