Organic Soybeans: An International Comparison of Product Marketing Strategies
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Series/Report no.:Department of Agricultural, Environmental and Development Economics. Graduate student poster competition, 2006
Within the food industry, a commonly perception is that the soy food consumer has a higher propensity to be an organic food consumer and vise-versa, but there is no academic study to date to support this professed positive correlation. Emerging marketing trends in soy food label messages is investigated in order to look for possible joint product attribute and promotional strategies between different firm brand/products, across and within the relevant market regions and between different food categories/industries in the top 3 soy consuming economic regions; North America, Asia and Latin America. Information from Mintel/GNPD (www.gnpd.com), a privately owned food label database will be used to create output describing these market trends. Preliminary results has revealed that since 2000, 4% of all new soybean-containing finished products marketed within the relevant markets and food categories this study was marketed as organic. Relatively strong positive correlations, mostly influenced by the dairy and cereal industries, has been found to exist between a firm’s use of nutrition-oriented product claims and organic claims; <.14 correlation with added calcium, >.14 correlation with low/no cholesterol claim and nearly .10 correlation with low/no sodium. By investigating the possible joint marketing strategies of soy products and organic products by individual firms around the world, an enhanced understanding of the major markets for soybeans, organic products and organic soybeans will facilitate the realization of market trend opportunities for, and to minimize much of the uncertainty tied to, organic soybean production.