Marketing and Economics
10.2 Marketing
The most difficult aspect of any aquaponics operation is developing a realistic and practical marketing scheme (Engle 2015). Location is key for marketing because location determines what is in demand and the size of the market. Having close access to multiple cities significantly increases the market size as well as market demographics and in turn increases demand for product. If the location is within a remote area such as an island, then the market price for the product will be much higher compared to a location in an easily accessible area (Engle 2015).
· Kentucky State University10.1 Economic
There is relatively little information available on the economics of aquaponics, likely due to a lack of successful commercial production before 2014. Based on information summarized in Engle (2015) and Heidemann and Woods (2015), aquaponics profitability is achievable depending on geographic location, climate, initial investment, production cost, market demand, and consumer preference for goods. Production in USDA Zones 7-13 are typically most profitable in the U.S. due to reduced risk of losses associated with cold weather, power outages, and utility costs (Love et al.
· Kentucky State University