Stingless honey market potential: Riobamba case study

Abstract

This research seeks to know the market opportunities that bee honey will have in the city of Riobamba. The work begins with market segmentation that defines the profile of potential customers, then 63 points of distribution and sale were selected, where structured participant observation techniques were used to establish the effectiveness of the merchandising work of the products in the market; the variables analyzed establish the brand, the presentation of the product on the hanger, the ABC of customers, the packaging and type of honey with the highest sales. Using Likert scales, 630 potential customers were surveyed to determine their perceptions regarding consumption preferences, analyzing the variables of brand, characteristics, product uses and benefits sought; finally, the study presents the sales estimate and the amount of product required by the potential market. It is concluded that the purchasing behavior and consumption habits of bee honey in Riobamba are directly related to the marketing efforts made by the companies. While it is true that the number of distributors and sellers of bee honey with unbranded, unlabeled products in plastic containers is around 40% of the market, 80% of total sales are attributed to brands that take care of the value of the product's attributes. The presentation, packaging and everything that represents hygiene and health are highly valued by honey consumers.