Marketing of Local and Traditional Products for Cyprus Examined
A seminar on “Marketing of Local and Traditional Products: The Role of Geographical Indications”. was organized by the Department of Business Administration of the Faculty of Economics and Administrative Sciences of Cyprus International University.
Leyla Mahrum, the General Deputy Secretary of the Cyprus Turkish Chamber of Industry, spoke at the event, giving information on the geographical signs of traditional products of Cyprus and their contributions to the national economy.
Mahrum, who gave explanations about attempts to register the traditional products of Cyprus, hellim, zivaniya, molasses and pastes, gave examples from different parts of the world by introducing geographical signs to the participating students. Mahrum pointed out Hellim as a marketing tool through geographical signs and she drew attention to the economic value that this product can provide to Cyprus.
Mahrum pointed out that the niche market was born on demand that cannot be met in a generally available market and is more expensive than generic products and she explained that the market is focused on a particular issue in terms of locality, history, and quality. She said niche products with a higher profit margin contribute to the development of small-scale private firms, and she added that it contributes to the development of the country's economy.
Assist. Prof. Dr. Zanete Garanti, faculty member of the Department of Business Administration, stated that they organized this study in order to prepare students for end-of-term projects and she announced that the students were informed about local and traditional products through the activity.