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Recently Prelude has sought ways to negate the bargaining power of buyers by making some vertical acquisitions that allows them to move their lobsters from the ocean directly to the consumers.
Threat of substitute products – Low to moderate. Given lobster’s standing as a delicacy other sea fares like shrimp, mahi mahi, etc hardly pose any threat of being treated as substitutes among people who want lobster. While there is no substitute for a lobster tail, there are some imitation lobster products available to consumers. Minced fish flavored with lobster is sold in the grocer’s freezer aisle as bite-sized lobster pieces, and langostino, a 10 centimeter crustacean from Chile, is often served under the moniker lobster in dips and appetizers in restaurants...
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