The role of conjoint analysis in the evaluation of fish product markets

Conjoint Analysis is one of the analytical techniques traditionally used in the field of marketing research to evaluate consumer behaviour in respect of product purchasing decisions. This paper explores the conceptual and practical challenges that have faced the application of conjoint analysis to the assessment of consumers' response to developments in labelling underway in the supply and marketing of fish products in the UK and Denmark. Are consumers willing to pay a premium for or buy larger quantities of fish products differentiated (by labelling) on the grounds that the fish comes from a sustainably managed fishery? This is the central economic question that this application of conjoint analysis aims to answer. While the first fish products covered by the Marine Stewardship Council are coming on to the market, the question of the consumers' response to these products remains unanswered and the market for differentiated fish products remains essentially hypothetical. This makes the application of expressed preference analytical techniques, such as conjoint analysis, particularly timely. This paper brings together the findings of the literature, international experience and recent developmental work on conjoint analysis. Notably, the paper (a) places what has traditionally been a tool of marketing research firmly within economic theory of consumer behaviour and (b) explores the relative benefits of the technique against alternative economic valuation techniques (e.g. contingent valuation methods) and the particular nuances of survey delivery and analysis.