A Business Model for Inclusive Marketing to improve the profitability of the Fishing Industry in the villages of coastal Mumbai

Abstract

The purpose of this research is to study and exploit the opportunities in the fishing industry in the villages of coastal Mumbai. We have identified the major problems affecting the fishermen who fish for a livelihood and have proposed a viable business model that addresses the existing gaps. The business model that we propose here takes care of four important things. First, it aims at improving and maintaining the supply of fish through innovative techniques. Second, it aims at creating a steady and profitable source of employment for the fishermen. Third, it improves profitability through a logistics management and elimination of middlemen. Last, it aims at being all inclusive by managing the waste that is a part of fish processing. This research paper is based on an extensive secondary research of the current conditions of the fishing industry in India and the latest trends in fishing that can be exploited to improve fish production and supply. It also includes a primary research done with 20 fishermen families in Manori and 15 fishermen families in Gorai. The primary research was conducted to identify the major issues that affect the fishermen families, their technological expertise in fishing and their acceptance of our business idea. We have done a fish-bone analysis to understand the problems that is affecting these two villages. We have also developed a two-by-two model to explain the business approach that should be used for a fishing location based on its production capacity and distance from the nearest targeted market. We have proposed the use of Deep Sea fishing and Mariculture to improve the supply of fish. Mariculture would help our business to produce export quality fish and also for supply to the premium segment in top-tier cities. We propose to employ the fishermen rather than buying the fish from them. Our business model has a Milk Run Cross Docking transport system which not only eliminates all middlemen but also uses it for the transport of waste, equipment, chemicals etc. The produce from our fishing activities will be supplied to the Mumbai market or exported based on real time information of the demand and prices. We have inculcated practices in our model that ensures sustainability.

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