Study on Development of Saffron Industry in Taiwan
Date Issued
2015
Date
2015
Author(s)
Lin, Keng-Hung
Abstract
Saffron Crocus has a history of 3000 years of use. Iran, or ancient Persia, has weather conditions suitable for saffron growth as well as cheap labor, and therefore provides a steady supply for saffron with consistency in quality at reasonable prices, which makes up 96% of the world saffron supplies. Saffron is the Queen of Spices; in the world of gourmet foods, it stands alongside black truffles, foie gras, and caviar, which are called the “3 Kings and 1 Queen.” If measured by weight, saffron would be the most expensive spice in the world. Saffron has a variety of uses in Chinese medicine, selling at high prices. Our domestic research has limited data on it, such as primary purpose and marketing channels, as well as a lack of consumer awareness. On the standpoint of stimulating the development of our domestic herbal industry, saffron is a subject worthy of research. This study collects the data and opinions from industry experts via in depth interviews to explore the possibility of developing a saffron business in Taiwan, including the aspects of production conditions and market potentials. Afterwards, SWOT is utilized to analyze the competitive edge and possible business strategies for saffron in Taiwan. As for the Internet survey, cross-analysis and χ2-test showed that there is no relationship between consumer background and buying interest. Therefore, marketing strategies that promote the use of saffron should be emphasized, reinforced by cultural and creative trends, and infused with fashion elements to create brand recognition and loyalty. According to Miles and Snow (1987), corresponding to Taiwan’s current economic situation, the ratio of defensive strategies to prospective strategies should be 8:2. There is spare capacity in seizing the opportunity of developing new functions and markets for saffron, pursuing innovation and growth; conducting cross-industry collaboration to create new value in the saffron business; implementing long-term strategies, which focus on cross-industry collaboration to enhance brand marketing, popularity, and effective exposure; rooting the impression of saffron in the public to strength the familiarity of saffron and to increase its frequency of use; building a saffron brand in 3 to 5 years’ time; developing more uses for food ingredients to reduce the incentives of using saffron substitutes, and then engaging in integrated marketing with other merchandise to create an exclusive channel and brand; and using maximized consumer satisfaction to elevate the added value of products, enabling a thriving saffron business in Taiwan.
Subjects
Saffron
in-depth interviews
business strategies
brand marketing
Type
thesis
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ntu-104-P02627007-1.pdf
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