SWOT Analysis of The Truffles Market in Greece PDF

British Food Journal
SWOT analysis of the truffles market in Greece

Vaia Tsitsipati Christodoulou Athanasios
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BFJ
116,12
SWOT analysis of the truffles
market in Greece
Vaia Tsitsipati and Christodoulou Athanasios
Department of Forest Economics, Faculty of Forestry and Natural Environment,
1976 Aristotle University of Thessaloniki, Thessaloniki, Greece
Received 3 December 2012
Revised 16 December 2013 Abstract
Accepted 17 December 2013
Purpose – The purpose of this paper is to investigate the suitability of Greece as a possible market for
truffles. Primary data were collected and analysed in a systematic and detailed way to highlight
the strengths, weaknesses, opportunities and threats of this prospective market development.
Design/methodology/approach – A multi-stage survey was conducted using qualitative and

quantitative research methods. The data obtained were analysed using the SWOT analysis method.
Findings – The survey highlighted the market characteristics of truffles in Greece. These were sorted
into four categories: strengths, weaknesses, opportunities and risks. Results show that truffles have an
attractive mix of qualities; however, issues such as the lack of intermediary and customer knowledge
and the limited communication of their benefits need to be overcome.
Research limitations/implications – Findings showed that the use of SWOT analysis in
specialized food products provides marketers and professionals’ insight and guidance into designing
their marketing activities.
Practical implications – Truffles production or trading requires strong commitment by professionals
who want to succeed in this market field.
Social implications – Truffles market growth could contribute to the social welfare through the
creation of supplemental income, the cultivation of arid fields and the conservation of natural
resources due to their environmentally friendly manner of production.
Originality/value – For the first time, SWOT analysis is used to investigate the factors that shape
the market of specialized products in the food sector.
Keywords Marketing strategy, Specialized products, SWOT analysis, Truffles
Paper type Research paper
Introduction
Forests are the source of a variety of commodities. Besides wood, which is the basic
forest commodity with commercial value, there are several other non-wood forest
products. Some of these, such as truffles, have a high economic value; however, for
many years they had been ignored (Gold et al., 2004). This happened because these
products are usually characterized by unique attributes and, thus, require special
treatment. However, cultivation of such products creates opportunities for local people
to earn supplemental income, in many cases greater than the cultivation of conventional
agricultural products. Simultaneously, their cultivation in environmentally friendly ways
contributes to protection and conservation of natural resources.
Truffles are one kind of specialty forest products. They are hypogenous edible fungi
that undergo a complex life cycle during which their mycelium establishes a symbiotic
interaction with the roots of trees, such as oak, poplar, willow, hazel and some shrubs.
They are known worldwide as a commercially valuable delicacy, which are characterized
by their unique taste and their distinctive aroma resulting from a blend of hundreds of
British Food Journal
Vol. 116 No. 12, 2014
volatile compounds (Mello et al., 2006). These special traits – together with a number
pp. 1976-1997 of others such as their scarcity, their limited availability and their delicate nature – mean
r Emerald Group Publishing Limited
0007-070X
that truffles are prized as a unique and luxurious delight in international food markets
DOI 10.1108/BFJ-12-2012-0293 (Ciani et al., 1992). In Greece, truffles are not widely known among consumers; however,
recently their high profitability has stimulated the interest of businessmen, who SWOT analysis
recognize truffles production and trading as an activity with high earnings potential. of the truffles
Nevertheless, truffles have raised controversial opinions among people concerned. The
most optimistic of them regard this business activity as positive for rural economies and market in Greece
as contributing to the remedy of the economic crisis experienced by the country at
present. Others forecast that truffles cultivation and trading are high-risk activities,
despite their worldwide popularity. The lack of market information and the limited 1977
experience in methods of production cause additional confusion or concern among
interested parties.
SWOT analysis is a research methodology that can help in understanding the
environment of emerging and potential markets (Kotler, 1997). Usually, this method
investigates macro – and micro – environment factors influencing such markets
(Beckeman and Skjöldebrand, 2007). In addition, this method is popular among
marketers who want to analyse the forces influencing markets of specialty products
(i.e. niche markets). Unlike traditional markets where marketing practices are used,
niche markets are characterized by limited information, confusion over quality standards
and absence of established institutions. Therefore, such markets are difficult to decode.
The truffles market presents most of these characteristics; for this reason, SWOT
analysis is suggested to be the most appropriate research method by this study.
The increasing demand for truffles in Greece, together with their importance for
the rural economy, have prompted the present research, which seeks to explore the
suitability of the Greek market for truffles. The SWOT analysis method was applied
to thoroughly investigate the truffles market in Greece, offering valuable information
and strategic guidelines for managers and researchers.
Theoretical framework
Specialty products (in general)
Consumer products are classified in categories based on some criteria. Copeland’s
(1923) classification is the most accepted by researchers and managers. He proposed a
classification of goods in three basic categories: convenience, shopping and specialty.
The main criteria in which his classification was based were price, quality, image and
shopping effort. According to him specialty goods have some particular attraction for
the consumer. Consumers do not compromise with substitutes of specialty products, on
the contrary they insist on buying the original (Nia and Zaichkowsky, 2000). Murphy
and Enis (1986) referred to some particular attributes of specialty products, the most
important of which are the higher perceived buying risk and the high degree of effort
during the buying process. Examples of specialty goods are expensive cars, clothes
by well-known designers, hand-crafted products, foods and wines produced by
specialty manners or originated from specific places. Reaching the specialty product
category is a major objective of many marketing managers (Murphy and Enis, 1986).
But, enterprises that would like to cope with specialty product category are faced
with uncertainty and market risk associated with the unique and specialized nature
of specialty food products. However, the marketing of the specialty products
could provide them with a competitive advantage by being early entrants in a prospect
innovative sector (Zahra and Covin, 1993). According to Murphy and Enis (1986),
the identification of the specialty attributes is the most critical stage for a
successful product strategy. Then, the adoption of practices customized both to the
particularities of products and the special needs of consumer segment, is necessary
(Beverland, 2005).
BFJ Specialty food products
116,12 Specialty food products belong to a market sector which attracts increased attention
over the last decades. The demand for them is growing, mainly because of the
consumer’s exposure to ethnic and gourmet flavours and the changes of food
consumption patterns. As specialty are characterized food products either because of
their special intrinsic nature (e.g. distinctive features, physical and sensory attributes,
1978 raw material) (Kupiec and Revell, 1998), or because they have been submitted to
technological process in order to be differentiated from other products (Niederhauser
et al., 2007). A variety of specialty food products exists in the international marketplace,
many of which have great economic value. Specialty and artisanal cheeses (Kupiec and
Revell, 1998), regional foods including Jersey Royal potatoes and Scotch beef (Kuznesof
et al., 1997), luxury wines (Beverland, 2004, 2005), Washington apples (Winfree
and McCluskey, 2005), specialty coffee (Niederhauser et al., 2007), spelt (Stefani et al.,
2005), salami Bergamo (Cavanaugh, 2008) and others. The specialty food products are
characterized by premium quality, uniqueness and scarcity. They are produced by small
scale producers or by individual farmers in limited volumes, because they are not designated
for mass consumption but for special occasion use (Murphy and Enis, 1986). In most cases
consumers have to pay premium prices to acquire those products (Stefani et al., 2005).
Management/marketing strategies
A comprehensive and consistent marketing strategy should be based upon product
characteristics. Specialty food products need specific strategies in accordance to their
particular nature. They are associated with consumers with a more cosmopolitan
profile, which are motivated in their consumption by their unique attributes.
According to Kuznesof et al. (1997) a number of personal, product-related and
situational factors are interacted with during the buying decision process. Personal
factors, such as existent knowledge and past experience, influence the perception
about food. Consumer’s choice behaviour and decision-making process depend on
quality expectation, created by the consumer’s previous satisfaction or disappointment
when consuming the product (taste, smell, texture or other sensory characteristics)
(Kupiec and Revell, 1998). Product-related factors such as pricing, quality, quantity
and packaging could affect perception of quality. For that reason, product design, in
general, needs special care in order to reflect the special needs and expectations of the
consumers (Beverland, 2005). Pricing for specialty food products is particularly
important because buyers link the price with the expected value or performance of the
product (Stefani et al., 2005). Presentation and packaging have to be very sophisticated,
made from particular materials, which highlight the distinctive character of specialty
foods and give important information, such as place of origin and ingredients (Kupiec
and Revell, 1998). Situational factors, like the place or the occasion, where the special
food products are consumed, play an important role. That happens, because the image
reflecting by these products is enhanced when they are consumed on special events or
anniversaries and when they are served in gourmet restaurants cooked by professional
chefs (Surlemont et al., 2005).
Murphy and Enis (1986) suggested a framework that can help managers by giving
them general instructions on their decision making. According to their plan, managers
need to focus on buyers’ perceptions, marketers’ objectives and specific strategies
for marketing mix. From consumer’s aspect, specialty foods are goods of high effort
and risk, and so the buying process is for them complicated. Marketer’s main objective
is to identify the appropriate consumer’s segment or market “niche”, where specialty
food products could be successfully addressed. Then the basic task of managers is to SWOT analysis
develop the loyalty of that “niche”. The key concept in designing specialty food of the truffles
products marketing mix is the adjudgement of products to consumer expectations and
needs. Price plays an important role. Since buyers pay premium prices for specialty market in Greece
products, they expect high quality level of them. Distribution and promotion policy
need special attention. For specialty food products it is proposed a selective distribution
only in specialty outlets and in some exceptional cases it is required an exclusive 1979
distribution by the producer (Stahle and Ward, 1996). Because of the unique nature and
the range of particularities of specialty foods, consumers have to be approached either
through individual advices offered by experienced personnel in speciality shops
or through personal selling product display in the customer place (Kupiec and Revell,
1998). By these methods the product’s uniqueness and its exclusive image are intensified
and the aim of fulfilling the particular needs of individuals is succeeded.
Materials and methods

In order to achieve a comprehensive study of the truffles market in Greece,
a combination of qualitative and quantitative methods was employed. This approach
allowed triangulation of the collect data, ensured the validity and reliability of the
results, and provided the opportunity to explore various aspects of the subject studied
(Tamagnini and Tregear, 1998; Scott, 2006).
Triangulation is a very popular technique of research in the social sciences.
According to Cohen et al. (2005), this method was used first by navigators and
explorers in their attempt to locate geographical spots. It refers to the use of multiple
measures to capture a construct (Campbell and Fiske, 1959). It offers a more detailed
description or explanation of complex subjects by studying them from more than one
standpoint (Cohen et al., 2005) and it achieves to bring into clearer focus the construct
of interest (Crano, 1981). Methodological triangulation helps avoid the danger of
generating biased data by using one single method (Denzin, 1989). In contrast to one
single method, the multiple methodological approach provides researchers with many
aspects of the subject under consideration ( Jacoby, 1978).
The difficulty in achieving a good measurement reveals the importance of
triangulation. Researcher’s choice, which method to use, effects on the validity of the
study’s results. Advances in research force researchers to triangulate across many
factors (data, investigators, theories, methodologies) in the research setting (Cook, 1985).
They need to apply multiple methods to reach clarity about the concept under
consideration. Pure measures and simple analysis strategies belong to the past (Iosifidis,
2003). Current trends in science suggest indicating the multiple causation and interactive
patterns of studied phenomena ( Joreskog and Sorbom, 1984; Rosenthal, 1991).
Qualitative research
Qualitative research methods are commonly used when the subject in question is being
explored for the first time and, thus, new insights and awareness are being sought
(Krueger and Casey, 2000). The issues, not being defined in advance, can emerge
during the course of the research. The main objective of qualitative research is to
develop new knowledge rather than to collect fact and numbers (Cohen et al., 2005).
Such methods may be used in combination with quantitative research methods in an
attempt to capture the full complexity of a research subject. In addition, in this study,
the qualitative research was used to identify issues for consideration in drafting the
questionnaire of the quantitative research that followed.
BFJ The scope of qualitative research was investigated through two surveys, one of all
116,12 participants at professional level in truffle market such as producers, chefs,
restaurateurs, distributors, retailers and the other of specialty food consumers.
Several qualitative methods are referred in literature. In this study, in depth interviews
were applied to investigate professionals and as well as focus groups to investigate
consumers.
1980
In-depth interviews
In-depth interviews are personal interviews conducting with people who are considered
experts on a specified subject in order for new ideas to be expressed (Iosifidis, 2003). This
method provides the opportunity for investigating and evaluating participants’ beliefs,
preferences and attitudes. In addition, participants were enabled to define a phenomenon
in a particular way and to state their opinion clearly. In this study, interviews were not
focused on a specific theme; rather, topics and issues were discussed in a relatively
unstructured sequence during the conversation. The interviews were held with
individuals involved with truffles at a professional level. The sampling frame was drawn
from lists obtained from the Commerce, Industry and Professional Chamber of
Thessaloniki. Having identified the first participants, the snowball sampling was used in
an attempt to broaden the relevant sample (Stathakopoulos, 2001). In depth interviews
were conducted over four months (from 20.05.2009 to 15.09.2009). A total of 14 interviews
were conducted. Each interview followed a semi-structured questionnaire making it
possible to explore new and complex ideas, whilst facilitating the comparability of some
responses between participants (Tull and Hawkins, 1993). All interviews were recorded,
and the responses were sorted into thematic categories through the use of content
analysis (Dimitropoulos, 1994).
The semi-structured guide-questionnaire was divided into five thematic parts.
The first part attempted to identify the level of awareness of truffles by professionals.
They were asked how long they knew truffles, when and where they first tasted them
and how they felt about their taste and smell. In the second part, type of products
purchased (fresh or processed, different species) and seasonal fluctuations on
purchases were discussed. The interviews allowed identifying the most popular types
and species of truffles in Greece. In the third part, the determinants of consumer
purchasing behaviour were investigated. Professionals were asked to point out the
most important factors, which influenced purchase decision process and the most
important reasons by which consumers were motivated to consume specialty food
products in general and especially truffles. In the fourth part, professionals stated their
opinions about customers’ attitudes towards specialty products in general and truffles
particularly; food preferences, shopping habits, frequency of purchases, type of outlets.
Moreover, they were asked to propose ways to highlight truffles specialty and unique
nature and to intensify consumer’s awareness of truffles in order to increase the
frequency of their consumption. Lastly, professionals stated their opinion about
the truffles’ future in Greece. They referred to the further development of this sector
and to the prospect profits from dealing with truffles production and commerce.
Findings, of in depth interviews were compared and related with findings of focus
groups interviews.
Focus groups
In focus groups, a number of people discuss a theme, interacting each other and under
the guidance of an interviewer (Stathakopoulos, 2001). This research method is chosen
when there is an attempt to go deeper into the motivations of participants and to reveal SWOT analysis
unexpressed sentiments and latent incentives about a phenomenon. Usually, it is of the truffles
used in educational research as an explanatory device to help identify variables and
relationships (Cohen et al., 2005). This method’s main advantage is the production of a market in Greece
great number of different statements about the same topic through the interpersonal
interaction.
There was a loosely structured schedule by which issues were addressed during 1981
the conversation; this approach was used to organize the data and to increase the
comparability of responses (Folch-Lyon and Tros, 1981). Five focus groups were
with a combined total of 25 participants. Participants were people who had recently
had a truffles experience (i.e. they had either tasted truffles in a restaurant or had
purchased a truffle product from a specialty shop). At the end of each focus group,
participants were asked to complete a short questionnaire containing demographic
and psychographic data, as suggested by Folch-Lyon and Tros (1981) and Petrakis
(1999). All conversations from focus groups were digitally recorded (as were in depth
interviews), and they were analysed through the method of content analysis
(Dimitropoulos, 1994). Focus groups were conducted over the same period with in
depth interviews.
The main issues discussed during focus groups were classified into three thematic
categories: equity product, marketing mix, attitude and consumer’s behaviour.
First, truffles perceived equity by consumers was investigated. Consumers’ preferences
about taste, smell and other sensory characteristics, and their aspects about truffles
role in Greek cuisine were discussed. The second thematic part referred mainly to
extrinsic characteristics of truffles and to information giving the general instructions
in the marketing mix design. Thus, subjects were asked to pose their opinions
about price, packaging, different types of products, different ways of use and cooking
combinations. Also, they were asked how frequently they buy special products in
general and from where (e.g. supermarkets, specialty outlets), and if they are willing to
pay premium prices for high quality food products. Finally, they were asked to mention
how they were informed about the new food trends (e.g. TV shows, magazines, by
word of mouth). Last section was dedicated to description of consumers’ attitude and
buying behaviour, towards specialty food category. Respondents stated their aspects
about gourmet products, mushrooms, French and Italian cuisine. The reasons behind
the emerging trend were defined in tasting new food and the factors changing the
consumer’s food patterns were determined.
Quantitative research
Quantitative methods are particularly appropriate in social research when
investigators attempt to identify typical patterns of human behaviour and to reveal
factors influencing them (Charisis and Kiochos, 1997). Usually, methods involve large-
scale surveys of representative samples of population (Matis, 1994). They allow the
accumulation of a much larger volume of data and number variables, extending over a
much wider area of knowledge than would be possible with other methods (Cohen
et al., 2005). The quantitative method selected for the purposes of this study was the
consumer survey, which was operationalized through a questionnaire. The questionnaire
is a widely used and useful instrument for collecting data in a systematic way, providing
structured and numerical results. In comparison with qualitative methods, the great
advantage of a questionnaire survey is that it provides comparability of the data and
facilitates their organization and analysis.
BFJ Consumer survey
116,12 The consumer survey was conducted in the city of Thessaloniki on a sample of 303
consumers (men and women aged 18 to 75 years). Thessaloniki was chosen, as the
concentration of specialty food retailers and distributors indicated it as a proper
potential market for new food products (Tamagnini and Tregear, 1998). The sample
collection method was the mall interception technique, which is one of the most
1982 popular methods among market researchers (Bush and Hair, 1985). Usually, this
method is recommended in early stages of product entrance in a market, to help
develop new concepts for additional testing or to screen out obvious product failures
(Kuznesof et al., 1997). Its advantage is mainly the convenience of using a central
location, visited by large amounts of customers of the target population (Nowell and
Stanley, 1991). In this study, the sample collection locations were specialty shops,
restaurants and the National Institute of Agricultural Research (NAGREF), where
training seminars were organized for professionals who want to cultivate or trade
truffles products. Additionally, other reasons, which force many researchers to prefer
this method, are low costs in gathering data in comparison with other methods
(e.g. door-to-door interviewing) (Bush and Hair, 1985), the absence of a sampling frame
and the provision of several representative samples of the population under
consideration (Tull and Hawkins, 1993; Churchill, 1995). Dupont (1987) had proved
through a study that the use of mall interception technique as a method of data
collection in commercial marketing and advertising research, does not affect either
the demographic profile of the resulting sample or the substantive results of the survey.
For unbiased estimates, in this study, shopping centres have been selected by
multistage area probability sampling method (Sudman, 1986) and interception for
interviewing took place in entrance of shopping malls or restaurants (Nowell and
Stanley, 1991). The research was undertaken throughout the year 2010.
Questionnaire
The data were collected via an interviewer-administered questionnaire of five thematic
sections, through which it was aimed to examine the factors influencing the truffles
market in Greece. These sections were: truffles equity, consumer involvement profile,
attitude and consumer behaviour, marketing mix and demographic data. The
questionnaire consisted of 111 questions coded in two ways: first, a five-point Likert-
type scale ( Jamieson, 2004) (1-5 signifying strongly disagree, disagree, neither agree
nor disagree, agree, and strongly agree, respectively) and second, a five-point Likert-
type scale (1-5 signifying not important, somewhat Important, important, very
important and most important, respectively) (Siardos, 1999).
Each section consisted of subsections, where the dimensions of concepts under
consideration were investigated. The conceptualization of the first section, where truffles
equity was examined, was based on the theoretical model of brand equity. According
to Aaker (1996), the most important dimensions in measuring the brand equity of a
product were brand awareness (or knowledge), brand associations (or connections), brand
perceived quality and brand loyalty (or commitment). Additionally, through the study of
previous research on specialty products, three more dimensions were recognized and
included in the questionnaire: social acceptance (or conspicuous consumption) (O’Cass
and Frost, 2002), the environmental value (or benefit) (Orth et al., 2005) and the social
(or human) value (or benefit) (Tsai, 2005; Anselmsson et al., 2007). A number of items
derived from the studies of Lau and Lee (1999) and Yoo and Donthu (2001) along with the
findings from the qualitative research were used.
The second section, which was dedicated to consumers’ involvement profile SWOT analysis
definition, was constituted of six dimensions. Consumer’s involvement profile provides of the truffles
stakeholders with valuable information about their buying intentions and gives
notions about weaknesses in a strategy which needs to be improved (Mittal and Lee, market in Greece
1989; McWilliam, 1997). Consumer’s involvement in a product could affect considerably
their reactions in marketing and advertising activities. According to Kapferer and
Laurent (1985), consumer’s involvement profile was determined by five criteria: 1983
personal interest, hedonic value, symbolic value, risk importance and risk probability.
Drichoutis et al. (2007) found that in the case of food products more factors need to
be assessed, in order to estimate consumer’s profile involvement, such as country of
origin, nutrition value, price, taste and ways of cooking. So, one more dimension,
named product characteristics, included in the questionnaire.
Consumers’ attitude and behaviour were examined in the third section of
questionnaire. Past experience had proved that the study of consumers’ lifestyle could
shed more light on latent stimulus and motivations of an expressed behaviour (Miller and
Ginter, 1979). Probably, it could also explain the causal associations which result in
particular attitudes and the most important could forecast consumers buying intentions
(Padberg and Westgren, 1979). Given the lack of existent, research about buying
behaviour and attitudes towards truffles, in configuration of this section dimensions,
findings of other studies on consumer behaviour and attitudes towards luxury, gourmet
and specialty products were applied. So, this section separated in six parts, examining
the basic dimensions of attitude and behaviour, which were self-directed pleasure
(Sweeney and Soutar, 2001), self-gift giving (Tsai, 2005), quality assurance (Tsai, 2005),
spontaneity (Bauer et al., 2006), variety seeking behaviour and innovative behaviour in
the food purchase and preparation (McCarthy et al., 1999; Broderick, 2007).
In the fourth section, four elements of marketing mix in the case of truffles were
investigated. According to Kotler (2000) managers need to plan a set of actions in order
to succeed in a market sector. In particular, they need to design a marketing mix plan,
where these actions are determined. The aim of a marketing mix plan is first to find
and then apply the best practices for succeeding in four strategic axes: product design,
price definition, promotion and place policy (McDaniel and Gates, 1995). A number of
items, originated from previous studies (Dodds et al., 1991; Mitchell, 1998; Laroche
et al., 2001; Moon et al., 2008), included in the questionnaire in order to reveal the
particularities of truffles, which managers need to take into account for designing a
marketing mix plan.
In the last section, questions about consumers’ demographical characteristics were
comprised, which, on previous studies, have been found to influence consumers of
specialty food in general (Ling et al., 2004). In many surveys, demographic characteristics
were used as a basic segmentation criterion of markets (Montgomery, 1971; Lockshin
et al., 1997). These characteristics are considered to be helpful in the definition
of the typical consumer of a product category (McDonald, 1993). Additionally, some
demographical variables have been found to correlate with behavioural and social
variables in causal models intending to explain purchasing decision process (O’Cass and
Lim, 2001; Verhoef et al., 2002). The variables included in this section were age, gender,
marital status, educational level and family annual income.
Data analysis
Questionnaire items were subjected to a Principal Component Analysis in order to
evaluate the validity of the scale measurement (Kim and Mueller, 1978; Johnson and
BFJ Wichern, 1992; Norusis, 1992). Ratings of items were factor analysed using the
116,12 method of maximum likelihood with varimax rotation (Siardos, 1999). The criterion of
eigenvalue was used in order to determine significant factors (Hair et al., 1995; Sharma,
1996). To check internal consistency the correspondent discrimination indexes were
calculated, which were the corrected linear correlations (Pearson) of items with ratings
of the consumers’ answers (Siomkos and Vasilikopoulou, 2005).
1984 The internal reliability of the whole scale was tested by Cronbach’s a (Kim and
Mueller, 1978; Spector, 1992; Norusis, 1992; Hair et al., 1998) and each factor was tested
by the reliability coefficient CCR (composite construct reliability – reliability advanced
conceptual structure) (Bagozzi, 1980). Statistical indexes were estimated via statistical
package SPSS v. 15.0 with the installed subsystem exact tests (Bryman and Cramer,
1997). Results were considered significant at po0.05.
SWOT analysis
SWOT analysis is one of the most commonly used theoretical tools in the science of
marketing (Kotler, 1997). By this method, a systematic analysis of strengths,
weaknesses, opportunities and threats in the environment of a new or prospective
product is conducted (Reynolds-Zayak, 2004), highlighting the main factors influencing
emerging and potential markets and indicating a viable framework for marketing
activities. According to Kotler (2000), when this method is applied for a firm, the
strengths and weaknesses, which usually characterize its “internal” environment, are
examined in regard with issues like: resources, production methods, marketing
decisions, skills and management. The opportunities and risks describe the “external”
environment, which is distinguished in terms of macro- and micro-environment
(Beverland, 2005). Kotler (2000) reports that the macro-environment of a firm formed
by demographic, economic, political, legal, technological, social and cultural factors
and the micro-environment consists of customers, competitors and distributors. In the
present study, this categorization was not followed strictly; the method was adapted to
the specific case of the truffles market in Greece. In this case, the strengths and
the weaknesses are issues determined by people involved with the business activity of
producing and selling truffles. In contrast, the opportunities and the risks are issues
determined by institutional forces; thus, marketing strategies should adapt to them.
The continuously changing attitudes and social patterns stress the importance of
managers identifying and taking advantage of the strengths and opportunities, while
simultaneously avoiding risks and improving weaknesses.
Results
Qualitative research
Stakeholders-state of the truffle sector in Greece. Producers have reported that truffles
in Greece are collected mainly in natural forests and less in plantations, because the
majority of the last are newly established. Organized truffle associations do not exist,
and for that reason truffle collectors usually operate alone. There are no official records
about the real amount of truffles being collected or produced in Greece each year for
two main reasons: first because of the small amount of the collected truffles and
second because of the unofficially way of trading. Additionally, the lack of a national
frame law, which would allow the control of the collection, the cultivation and the
commercialization of truffles, has as a result to allow collectors to operate in public
and private areas too, without having a license and without respecting the private
properties.
Truffle collectors carry on this activity for reasons of pleasure, interest of the SWOT analysis
environment, new gastronomy experimentations and earning additional income. of the truffles
They use trained dogs for the detection of the spot where truffles are laid, and they
have special instruments for taking them out from the soil carefully, without injuring market in Greece
the vulnerable routing system of the hosting trees.
Professionals interviewed have reported that there has been a demonstrated interest
in trading and consuming special food products in general. This trend would be 1985
perceived to be highly attractive under the light of economical crisis, which several
industrial sectors experience in many countries, because it offers opportunities for
promising business activities. However, consumers’ and professionals’ level of
knowledge and experience in truffles is low. Many of them have just learned about
them and some of them have not even tasted them. Therefore promotional strategies
need to be designed in order to increase products awareness and to stimulate truffles
purchases.
The price of truffles is increasing every year. The prices also vary between the
species, the season, the year of production and the place of origin. Very high quality
white truffles could be sold for h3.000/kg. Consumers, who had not tasted truffles not
even once, hesitate to buy them because of their high price. Therefore, first it is needed
for consumers to learn about truffles, and if they feel satisfied from their taste, then
they are willing to pay their premium price. Also, retailers consider as very important
to inform consumers about the possible ways of cooking truffles, in order to buy and
prepare them home alone.
All participants interviewed in the course of this study such as stakeholders
(producers, retailers, distributors, chefs, restaurateurs) and consumers have indicated
that truffles is a promising business activity, as the expressed interest by all potential
industry and commercial consumers is continually growing. Discussions with
professionals indicated that there would be no problems in selling any amount
produced, as long as, the truffles are in good quality. If that is achieved, then it is
needed to target specific consumers’ groups, where truffles are promoted and to use a
minimum of advertising in order to increase the level of awareness. The adoption of a
limited distribution policy will also contribute intensifying uniqueness to the product.
Consumers. The changes in food consumption patterns are mentioned as the main
reason of rapid growth of specialty food sector in Greece. Professionals described
truffles consumers as people who express an interest in tasting specialty food in
general. They show a preference on gourmet foods and mushrooms in general and they
are keen on French and Italian cuisine. An endless request for new experiences
and adventures is a basic characteristic of modern consumer attitude. It seems that
the contemporary consumer has developed sensory skills and for that reason he can
appreciate the individual and unique characteristics of specialty products in comparison
with industrial manufactured products resulted in creating of new marketing
opportunities. They are usually informed about new trends in food from magazines.
Also, some of them travel a lot abroad and for that reason they are influenced from ethnic
cuisines. They are motivated in purchasing and consuming truffles by their specific
sensory characteristics (taste, smell, texture) and they can perceive slight differences
among various truffles species. They focus on their unique characteristics and distinctive
character and therefore factors, such as price, packaging or nutritional value are of less
importance, for them who are characterized by a variety seeking behaviour.
Products. Stakeholders’ survey has provided information about the truffles
characteristics mostly preferred by customers. The most purchased products were
BFJ Tuber aestivum and Tuber magnatum in processed form. Fresh truffles were scarcely
116,12 purchased, because of their limited availability and their high price. Among processed
products truffle oils were most popular and presented a strength growth in sales.
They are primarily used in salads and cooking at home, and they are also used by the
catering, restaurants and food industry. Creams, butters and honey flavoured with
truffles were reported to be very popular both for domestic and commercial use.
1986 Greek truffles have to compete with species originating from countries with a long
tradition of truffle culture. Italy and France are the major producers of truffles, who
supply the international market with large amounts of truffles every year. Moreover in
some areas of these countries, precious species are growing, which can not be
found anywhere else (e.g. white truffles from Alba in Piedmont). In addition to that,
competition is arriving from the neighboring countries like Serbia and Albania where a
lot of species are found (mainly Tuber aestivum). China truffles appeared in the market
in the last years, too. They have lower prices and they are preferred by customers, a lot.
Quantitative research
Truffles equity. Results showed that the consumers’ perception about truffles quality
was positive. Although, their product awareness was low, they considered truffles as a
high quality food with a high economic value. The most referred associations of
truffles by them were their particular way of gathering from nature, haute cuisine,
gourmet meals, luxurious restaurants and the celebration of special occasions. Also,
some of them were aware of the mysterious way in which truffles grow in forests.
Although, the frequency of truffles purchases was occasional, consumers expressed a
high level of loyalty to truffles as a gourmet product, without being always their
first choice. They were not motivated in their purchases by truffles luxurious image, in
order to impress their social environment, but they were interested in merits derived
from their cultivation and commerce for society and environment. The opportunities
for new business activities and source of income for local people through
environmental friendly cultivation methods exerted great influence on their buying
decision.
Consumers’ involvement profile. Consumers attach a high symbolic value on
truffles. They are renowned as a symbol of luxury and conspicuous consumption.
These associations can be used by marketers to evoke consumers’ interest towards
truffles. Most buyers expressed a median level of personal interest in truffles, probably
because truffles are a new ingredient in Greek cuisine and they are not familiar with
them. A lot of them have not tasted them. A significant proportion of buyers felt
disappointment from truffles’ taste and aroma, resulting in a median level of hedonic
value. This may have happened because chefs or housewives are not familiar with
the cooking methods which better reveal the taste and aroma of truffles. Truffles are
related with a high perceived purchase risk importance. This probably happens
because of their premium prices and their high value of money ratio. Therefore
consumers’ expectations about quality standards are high. It is therefore inferred that a
lower quality product than expected, could cause a great disappointment. Some of
truffles’ characteristics seem to exert a great effect on consumers’ choice, such as
the country of origin, the price, the taste and the cooking methods. Countries of origin
exert a great influence, as buyers prefer truffles originated from countries with a long
tradition on truffles sector. Price operates positively as a link with high quality and
stimulates consumers’ curiosity. Good taste drives consumers’ choices. They prefer
products with good taste from past experience. The easy ways of cooking in both
domestic and commercial occasions encourage consumers to buy them. Least of all, SWOT analysis
nutrition value is important to consumer’s decision. of the truffles
Attitude and consumer behaviour. The investigation of consumer’s attitude and
behaviour showed that customers buy truffles mainly for reasons of personal self-gift market in Greece
giving and pleasure and not for fulfilling needs about social acceptance and conspicuous
consumption. Luxurious character of truffles does not exert great influence on their
buying behaviour. Consumers’ buying intention is motivated from truffles specialty and 1987
unique nature. They express a variety of seeking and innovative behaviour in the food
purchase and preparation. However, they mention that they need guidance on how to
cook them, because the majority of consumers in Greece have neither tasted them nor
cooked them home alone. They like to experience new tastes especially when they
originate from international cuisines. They avoid buying truffles for personal use
because they do not know how to handle them. On the contrary they prefer to taste them
in a restaurant, where truffles will be personally prepared by an experienced chef.

They seek quality in their nutrition and they need to feel sure about their choices.
Therefore they avoid spontaneous purchases.
Marketing mix. In abroad, and mainly in countries with large amounts of truffle
production, open-air markets and fairs, where truffles are sold, take place every year.
At these markets farmers personally sell their products directly to the customer. There
both retailers and consumers could see truffles and judge their quality and then decide
if they will buy them. In Greece the small amounts of truffles are sold directly to local
mushrooms traders. Consumers can obtain truffles from specialty outlets and specialty
food departments of supermarkets. This exclusive distribution reinforces their
authenticity and uniqueness.
Because of the limited shelf life of truffles, a great proportion of the production is
processed to preserved products. Fresh truffles’ prices vary a lot and are influenced by
several factors: species, flavour, lack of damage, season, availability and country of
origin. Prices of preserved truffles are relatively lower than of those of fresh truffles,
and therefore they are accessible to larger group of consumers. Retailers have reported
that despite their high prices, if Greek truffles achieve a high standard quality, then any
price should seem reasonable.
Conventional methods are not recommended for truffles’ promotion strategy.
Because of the great range of their particularities, personal sales and event marketing
there are more appropriate methods. Activities, such as conferences, trade displays,
cooking truffles nights in luxury restaurants offer a great chance for advertising
truffles to large crowds of targeted consumers gathered in the same place, sharing a
common interest, e.g. specialty food.
Demographic characteristics. Socioeconomic and demographic characteristics
of truffles customers derived from the quantitative survey were in accordance
with that reported by professionals in their attempt to describe their clientele.
A typical truffles consumer’s age average is 38 years old, had a household with
children, was the main shopper of the family, and its annual income was higher than
that of the middle class and was rather well educated. There was no gender
stereotype.
SWOT analysis
The results obtained from the qualitative and quantitative research were analysed
using SWOT analysis and are presented in order of the four thematic categories:
strengths, weaknesses, opportunities and risks.
BFJ Strengths. The main finding of the research was that the special attributes of
116,12 truffles resulted in the creation of their unique and authentic nature. Thus, these
attributes operate as the strength points guiding marketing managers’ attempt to
promote truffles in the Greek market. Many products succeed in the marketplace
primarily because of their specific attributes. The special flavour and the strong aroma
are truffles’ most renowned attributes, associated with a high quality, which
1988 differentiate them from other edible mushrooms. These characteristics help them stand
out in the category of gourmet products, emphasizing their high-end social image. As a
result, people’s interest is stimulated, resulting in premium prices of the product being
considered fair. Premium pricing is the key concept for the endorsement of truffles by
consumers as specialized and luxurious food products. Additionally, their luxurious
nature is reinforced by the fact that truffles are mainly consumed in luxurious
restaurants or at special events, enhancing perceptions of their authenticity.
Moreover, the results showed that Greek consumers express a strong preference for
indigenous raw materials for their nutrition. They believe that products farmed and
produced in their region are of superior quality for two reasons. First, they are preferred
because of the unique climatic and geomorphologic environmental conditions, which
resulted in the flourishing of agricultural commodities with a local flavour. Second, they
are preferred because local natural resources such as water, soil and indigenous crops are
not polluted due to the limited industrialization of the country. These beliefs are of great
importance for the growth of the truffles market in Greece, where indigenously produced
truffles are in competition with imported truffles. The importance of the concept about
foods produced in domestic areas is crucial in overcoming the international competition,
offering a unique strength be used in the marketing strategy.
Weaknesses. In contrast to conventional agricultural products, specialty products
like truffles often need a particular treatment. Results of the present study showed that
truffles production and marketing in Greece present a unique set of challenges
for new producers. First, truffles require specialized methods of production because of
their distinct features. Farmers who choose to cultivate truffles have to deal with
more complex production systems than those required for traditional agricultural
commodities in order to grow, harvest and profitably market those goods without
having previous experience. Additionally, the high installation cost presents a significant
entry barrier. Moreover, with products in this category, there is inconsistency in the
quality and volume of production due to the dependence of the cultivation on climatic
variables.
Second, there is a lack of detailed market information for issues of intermediary and
customer knowledge. Producers and retailers already active in this market sector are
reluctant to share their sources of information and knowledge for these issues, because
these are so valuable. Instead, their attitude reinforces the fears and uncertainty,
making it more difficult for newcomers to enter this new product enterprise.
Third, the truffles market, like other markets for specialty products, has a relatively
small amount of customers. Specialty product markets differ from others in that
they require a personalized approach to customers and not mass sales techniques.
Managers have to carefully explore and target this small-scale market in order to gain
acceptance and to choose the appropriate communication methods for stimulating
customer interest. Further, customers purchasing truffles are mainly attracted by
their quality. For that reason, success in this market relies upon the concept of the
“value-added” chain, where producers seek to increase benefits of the product to
the customers and to build a strong reputation for their business.
Finally, the high price of truffles and their processed products is a basic weakness SWOT analysis
that prevents truffles’ widespread adoption by consumers. High quality is the main of the truffles
feature of truffles, as reflected in their premium price. However, consumers do not
always want to pay a premium price for attributes or benefits that are not considered market in Greece
necessary. Thus, they do not consider it necessary to buy innovative and different food,
especially when it is prohibitively expensive. However, this is strength of Greek-
produced truffles. Due to their lower price than imported truffles, more consumers 1989
will have the opportunity to try them, increasing their awareness. Simultaneously,
promotion programs need to be applied in order their specific attributes be recognized
and valued by consumers.
Opportunities. The analysis of the truffles market environment showed the
existence of a small segment of potential consumers, who would be interest in them.
However, this feature is not necessarily a disadvantage, as one would think at first.
In contrast, their unique and specialized nature presents a competitive advantage for
high profits compared to mass markets products. Truffles, like all specialized and
luxury food products, fulfill a specific need for authentic taste, and for that reason are
not suitable for mass consumption. Thus, a small market segment could be proven
adequately profitable. Moreover, the limited consumption and distribution of truffles is
required for protecting their specialized character.
Based on the statements of professionals, the demand for specialized and continental
food is growing. This is happening due to the changes in lifestyle and eating habits
among Greeks. The amelioration of living, economic and educational standards has had a
major impact on demand for more sophisticated tastes, while the rise of holidays and
travelling abroad by younger people have led to the growth in demand for ethnic foods.
Thus, these current trends combined with social and cultural changes encourage the
rapid promotion of truffles in the Greek market.
The various processing possibilities of truffles constitute another great opportunity
of this market. Truffles, like most agricultural commodities, because of their delicate
nature, have to be consumed within a few days; otherwise, they will be unsuitable for
consumption. The possibility of truffles to be processed enables the better utilization of
excess production and production of lower quality. Processed truffles products are
of high quality and have lower prices than the fresh product, making them affordable
to more consumers.
Risks. Substitute products could be a serious risk for new markets. As in all cases
of unique, rare and luxury products, there are close substitutes, which can have an
effect on market prices by providing another option to consumers. In the case of
truffles, there are some species of similar features and very close in general appearance;
however, they do not have the same marketable properties as the original. This
happens because truffles species are very difficult to be identified by sight (only
microscopic examination can provide reliable results); thus, consumers could be misled
into buying substandard substitute products. Most recorded cases of misleading sales
practices have been made with the north African origin specie “terfezie”, which is often
sold as the original valuable white truffle (T. magnatum) and with Asian black truffles,
which are mixed with authentic melanospori truffles (T. melanosporum). In order to
avoid the potential threat of loss in market profits by substitutes, information
regarding these substitutes is required; this will help develop the proper strategies.
The strong competition from imported products could be another obstacle for the
widespread marketing of Greek-produced products. This implies that local producers
have to apply the production practices based on experience knowledge and technical
BFJ know-how previously gained in cultivation of truffles to ensure that domestic
116,12 commodities will be of high quality in terms of flavour, aroma and other organoleptic
characteristics. If the eating experience does not meet with expectations, consumers
will likely not buy this product again. Consistency in quality is of great importance
for consumers who want to have the same eating experience each time. Otherwise, it
would be very difficult for local producers to compete with the high quality imported
1990 truffles with established reputations.
As stated before, like many specialty forest products, truffles lack established
marketing institutions and legislative frameworks to regulate the activities of cultivation,
harvesting, protecting and marketing. This causes even more confusion among young
professionals and increases the level of risk involved in this marketplace. Moreover,
the absence of official rules in Greece has resulted in the widespread phenomenon of
collecting truffles to sell from foreign property without the landowner’s permission, often
causing damage. Only if a legislative framework is established will truffles cultivation

and marketing became a profitable opportunity and more attractive to newcomers.
The above results of the SWOT analysis are summarized in Figure 1.
Conclusions – implications
Various products with highly economic value are produced inside forests and about
them little is widely known. Markets of these products provide an option for success
for small producers and are proved to be highly profitable. However, many of them
need special treatment; thus, they are characterized by high levels of risk. Often,
a wrong management decision could lead to serious economic consequences. This
implies a strongly required commitment by new professionals who want to deal with
either the production or trading of truffles.
Special attributes Particular cultural treatment

Unique and authentic nature Lack of consistency in the quality
High quality and volume of production
High-end social image Lack of market information
Locally produced from unpolluted Small in size
High price
soils Need for a “value-added” strategy
Truffles market environment
Strengths Weaknesses
Opportunities Risks
High economic value Substitute products

Great international demand International competition
Figure 1. Possibility of being processed Lack of established marketing
SWOT analysis: the Better utilization of excess institutions
production
factors that shape Production of lower quality product
truffles market in Greece
This study has attempted to investigate the suitability of truffles for the SWOT analysis
Greek market and to highlight the areas of interest on which managers should focus of the truffles
for a successful business process. The specific goal was to identify critical market
characteristics influencing the possible development of this sector in Greece and to market in Greece
give through SWOT analysis notions about strategic guidelines which should be
followed by major stakeholders. Strengths and opportunities were highlighted, from
which farmers, managers and other stakeholders could benefit. Also, weaknesses and 1991
risks were identified, which should be overcome. As such, the study is intended to be a
contribution to strategic management and marketing of specialty foods. Results show
that there is an emerging market, which is small in size, with special characteristics;
this promises high profits, given the latent consumer demand. Due to the specific
features of truffles, particular treatment is needed not only in the stages of production
and cultivation handling, but also in all stages of the distribution chain, like marketing,
promotion and sales. The main aim of a market plan should be to convert these
particularities into a competitive advantage against other special foods for consumers.
The results suggest that farmers should try to produce products of high quality in
order to successfully compete with the imported products of established reputation.
This result is consistent with findings of Stahle and Ward (1996) study, about truffles
industry installation in New Zealand. But, in the case of Greek market, the lack of
knowledge about methods of production and the limited information about the truffles
chain complicates this. The same constraint was mentioned by Gold et al. (2004), who
referred to the “black box” on which all valuable information were hidden. This fact, in
combination with high cost of cultivation installation, presents considerable entry
barriers to would be truffles farmers (Vollmers and Vollmers, 1999). However, success
in this market segment is heavily dependent upon the ability of entrepreneurs
identify the forces, tools and methods which influence this market and to integrate the
scientific expertise and market knowledge linked with this new business activity in
their practices.
The success of truffles product in the marketplace is primarily based on their
unique attributes. Consumers who are not aware of the specific attributes of truffles
would not appreciate them. The role of communication is essential for increasing levels
of recognition and appreciation of the product among consumers. Therefore, a
communication program is essential in promoting truffles. Traditional methods
of promotion are not suitable for specialty food products (Beverland, 2004). Event
marketing is proposed by Nicholls et al. (1999) as an effective way of promotion
through which is succeed the exposure of a product to the desired target group
gathered at the same place for the same reason. Trade displays, special occasions,
cooking evenings are some activities during of which truffles could be effectively
promoted. However, others suggest (Murphy and Enis, 1986) that specialty products
category could rely only on their reputation to be promoted to consumers. Publicity
gained by other consumers in combination with advertising could on one hand
reinforce the image of specialty foods and on the other hand help reduce the high levels
of buying risk strongly associated to specialty products (Winfree and McCluskey,
2005). Additionally, truffles specialty imagery could be intensified through their
exclusive distribution on specialty food outlets and luxuries restaurants (Kuznesof
et al., 1997).
In an attempt of profiling possible truffles consumers, it was found that consumers
expressing innovative food behaviour are the most likely to be consumers of truffles.
Specialty food customers would be more innovative and involved within the food
BFJ domain (McCarthy et al., 2001). They often seek after refined culinary experiences; they
116,12 are more interested in the good taste and the authenticity of the product, than the
price (Catry, 2003; Reynolds-Zayak, 2004). Managers should stress their promotion
activities on that segment of consumers, which seems to be the most profitable.
Truffles face constraints to growth in the current domestic market. The Greek
market is not yet ready to absorb large volumes of product because of its lack of
1992 recognition by consumers. However, the international demand is great and it is
expected to continue increasing (Mello et al., 2006). Thus, farmers should look to
foreign markets to ensure sale of their products. If Greek truffles are of high quality
standards, then they will compete successfully with products originated from countries
with long tradition in truffles industry. Anything less than a high quality product could
lead truffles’ economy to disaster.
The high price of truffles is the basic constraint in their widespread development
in marketplace. However, Bettman (1973) found that product quality seemed to be

associated with increased price paid. Therefore, premium pricing is the key concept
concerning the perception of truffles by consumers as specialized food products. Greek-
produced truffles are expected to have lower prices than imported truffles, because
they are cultivated locally. This fact, in combination with the preference expressed by
local people for indigenous products (Lampert and Jaffe, 1998), will result in increased
preference of Greek produced truffles by consumers. Moreover, the various possibilities
for processing truffles provide another option for better utilization of excess production
and production of lower quality. Also, this option offers producers the advantage of
providing truffles in a relatively lower price, in a stable standard quality and
with continuous availability. Thus, the disadvantage of premium priced is moderated
and the potential risk involved in this business activity is reduced (Kupiec and
Revell, 1998).
Lastly, a legislative framework, which would regulate certain issues – such as
season and places of cultivation, methods of harvesting, rules of conserving and
protecting of the natural resources and rules of marketing – is required. The existence
of institutions will encourage new producers to enter into this profitable business
activity, reducing the level of risk involved in this relatively unknown market
(Petennella et al., 2004). Additionally, a legislative framework could help to diminish
the potential threat of lower-quality substitutes entering the market.
Social implications
Truffles are commercially valuable products, which gives rise to a specialised market,
characterized by high marginal profits and international demand. None can doubt that
their cultivation and trading offer an option for supplement income production;
furthermore, this is possible without harming the natural environment or diminishing
natural resources. As others suggest (Vermeir and Verbeke, 2006), business activities
with positive effects on society attract peoples attention, who are sensitive on ethical
and social issues, influencing their buying decisions. Additionally, some people rightly
regard this business activity as contributing to a way out of the economic crisis
experienced by the country at present. This is because of the suitability of the Greek
territories to this type of production and because of the long agricultural tradition of
the country, which indicate truffles business promising. Due to consumers increasing
interest in specialty food truffles in general, the development of the truffle sector in
Greece seems to be profitable in terms both of production and processing, giving rise
to a new industry.
Further research SWOT analysis
Results indicate a lot opportunities for future research. The database derived from the of the truffles
multimethodological survey is long enough for extended analyses. First of all, more
analysis is needed to identify and assess the marketing opportunities for truffles in market in Greece
Greece. Although the findings of this study highlight the areas on which managers
and professionals should concentrate, extended primary research must investigate
potential consumer segments, with greater consumer samples from more places of 1993
country. Second, consumer attitudes and behaviour have to be determined, because
they are of essential importance for specialty products to achieve significant market
growth. Research must be also undertaken in forecasting consumer purchase intention,
determining the variables influencing it. This would make it easier for managers
to promote truffles and to increase their demand. It is also needed to identify ways of
making consumers more involved within this product category. If people are more
familiar with (and, thus, appreciative of) the product and its attributes, they are more
likely to become consumers.
Finally, this research showed that specialty markets, like that of truffles, can be
effectively investigated by the use of SWOT analysis. However, empirical analysis of
this method needs to be extended in the field of specialized food management strategy.
This method allows a systematic analysis of internal and external environmental
factors, which interact each other. It is hoped that this study will encourage other
investigators to conduct more intensive use of SWOT analysis in their own attempts
to study systematically the strategic relationships within forestry, agricultural and
food industries.
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Corresponding author
Dr Vaia Tsitsipati can be contacted at: vtsitsipati@hotmail.gr
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