Marketing Report Of Tassel Tasmania Salmon

The report should contain the following elements (please see marking rubrics for more details):

1. Describe the marketing background of the company that includes key information about the industry indicating where the company fits and/or positions itself paying special attention to sustainable practices- environment, society, resources use, etc

2. Describe and analyse the following marketing strategies used by the company

a) Analyse the main Products, services, suppliers and customers of the company
Pricing
Promotion
Place (distribution)
(Note: for each of these Ps, please reflect on relevant theory(ies), discuss the strategies applied, and sustainability practices implemented by the company)

3.  Compare the marketing mix (4Ps) to its closest competitors

4. Make recommendations for improvement of marketing mix for product(s) to become more competitive- Include relevant sustainability aspects 

Background of the Organization

Tassel Tasmania Salmon is identified as one of the most recommended and renowned names in the world of food industry as well as fish production. The company inaugurated its first marine site in the year 1986. In 25 years of success, the organization offered the most suitable sea food specially Salmon to the people. Though the organization strive operational excellence, but never compromises with the core values and sustainable practices. The success of organization totally depends upon the strength of the workers who are working in the organization. Currently, the organization is operating with nearly 800 workers. The headquarters of the organization is located in Hobart Tasmania (Tassal Team, 2017).

The vision of the organization is to create a better tomorrow or future, and the mission of the company is to manage proper health care, development of suitable environment and community development. Some achievements of the organization  are defined below: -

• In the year 2010, the organization launched Australia’s only canned Atlantic Salmon and Pure Beauty products.
• In 2011, Tassal supported for the breast cancer funds to improve the community services
• In the year 2012, it is also benchmarked as the Fish Farming Company.

 Apart from this, the other achievements are also been identified.

The organization holds a very strong position in all the possible aspects. It is Australia’s one of the top most Salmon producing organization, which is also looking forward to the opportunities. Since making its position strong in the market, continuous efforts have been pursues from the organizational end. For making these efforts successful, it is essential to make sustainable practices more live and rapid. The organization mainly focuses on 5 P’s for the existence. These 5p’s are named as the People, products, planet, profit and process (World Ocean Review, 2017). This approach is quite small, but the overall developmental aspects depend upon this process only. These P’s also helps in making sustainability more wide and successful. Apart from this, the core focus of the organization is also mainly dependent upon the major values which are identified as the suitable aspects for the development (Government, 2016). These values are identified as the passionate process, management of the aspects, processing of an operating task in a safe manner and achievement in together form. These principles and specific approaches towards working aspects make the quality of production more approachable and recognized. Apart from this, the marketing image of the organization also stabilizes which will simultaneously increase the circulation of the product in a positive manner.

The sustainable practices of the organization are remarkable. While pursuing the objectives related to the sustainable practices, it is essential to cover major aspects which are named as the environment, society, uses of resources.

Position of the Organization

For protecting the environment, the organization always adapts only those techniques which are environmentally friendly and have specific approach for better production. The continuous intimation with respect to the products and their ingredients also intimate customers about the environmental aspects. Various contributions and campaigns are also operated for the improvement of the environment on an initial level (Commonwealth of Australia , 2015). For managing these practices related to the aquaculture, the marine industry is looking forward for the various development authorities.

These authorities are government regulatory bodies which helps in providing specific assistance in the correct direction. The environmental impact statement is also identified as one of the solution by which the marine production and specific products related to the marine processing can be managed easily. So, in short, it can be identified that for managing the environmental process, the company is giving high efforts and regularly trying to maintain the sustainability (FRDC, 2014).

According to Aqualculture Stewardship Council Salmon Standards, the assessment report is being prepared. This assessment report is successful in delivering the basic ideas related to the resources used in processing. The audits and specific reports related to the processing will be helpful in defining the suitable resource used. Economically, the plans prepared for the processing are nominal and can able to provide assistance to the society and other aspect on the organization level (Ryan, 2016). The products are also prepared in such a manner so that the maximum economic aspects can be generated. For managing suitable balance for the processing, suitable steps are also being planned in a definite way so that maximum revenue can be generated in an organized way.

For making the sustainable aspects favorable of the social benefits, the various steps are planned in a  specific way. For handling the social benefits, various types of CSR practices and management through the organizational level are identified. The organization contributes with the WWF and another foundation to provide its suitable contribution for the growth and development. Apart from this, the organization also coordinates with the community to represent suitable images associated with the organization. The coordination with the stakeholders and suitable management aids in providing proper assistance for the growth and development. 

The analysis section of the marketing report is successful in delivering basic approaches connected to the organization analyses and marketing strategy. The analyses will assist in providing specific assistance for the product and customers targeted for the suitable processing.

Sustainable Practices

The organizational analyses mainly helps in defining the suitable customers and target based audience for the suitable development and assistance. The sales of the salmon may get improved with the strategic balancing in specific aspects associated to the trades in the proper manner. The organization also believes in providing the products according to the sales mix. By the help of this, the operational and financial aspects will be stabilized and balanced.

The customers or targeted group can be selected by identifying the demographic and psychographic aspects of the nearby areas. The organizations have to plan specific approaches to promote the products in the correct direction and in an organized way. For targeting the lifestyle and the living behavior, the analyses should be done on a proper level.

To focus on the organizational objectives in the precise manner, the marketing strategy should also be correct and accurate. The marketing strategy will be helpful in providing suitable guidance or making the promotion in the correct mode. Apart from this, the marketing strategy may also help in increasing the sale of the products effectively.

The definite marketing strategy and a stable plan for the market development is identified as the key source for the development and growth.  The marketing strategy of the organization totally depends upon the 4p’s defined by the Kotler. The value of satisfaction and the management of the transaction & transformation rates are essential to be managed wisely. For targeting the age group, the size of the family is also considered. Though, the organization is recognized with the branded product and services, but still organization needs specific business approach which will help in improving the major aspects in respect to the business.

The products provided by Tassal have its specification in the purity and best quality. The specialty of the organization is to provide best quality products for the usage of people. The organization specialize in selling the best products which are identified as the canned and packed products of salmon. The most widely sold products are Tassal, superior gold, Tasmanian Smokehouse and many other. The quality of product is best and customers are easily getting attracted towards product at an initial level only (Fitzgerald, 2013). The products are available in all ranges which can be afforded to all the families and people. The packaging and labeling of the product are easy and properly understood. For managing these perspectives, the supply chain management process may also be defined in a proper manner. The organization owned various plants at different location. From these plants, the supply chain management system is managed and maintained in a proper way. The SCM is also very precise and peculiar (Singh, 2012).

Analyses

To maintain sustainability while producing is not identified as an easy task. By managing the sustainability, the cash flow of the organization can also be increased. The import and export may also get supported with the help of suitable processing. The Salmon industry is the champion of the Salmon industry as well. To manage the sustainable plan, it is essential to look forward for the specific plan for the production systems.

The concept of greening for the marketing is flourishing with a higher speed. To manage green aspects and to manage pricing of the products, the strategy is defined. This will also be helpful in managing sustainability. The pricing policy of the organization is generally value based, because it can able to provide the best value products. The new products which are established are highly recognized and managed too. Due to the introduction of De Costi,  the market value of the product increases by about $4.3 billion to $700 million. There is a sudden increment in the shares of products, which will aid in providing suitable assistance in the correct manner (Dundas-Smith & Huggan, 2006).

It is essential to manage sustainability during climatic changes too. The climatic changes will affect the production aspects related to the organization. There are different type of climate changes which are named as the heavy rainfall, high tides, incremental changes, Bushfire and storms. All these aspects affect the production and pricing aspects too. For managing the sustainability, various plans and strategy are prepared on a wide level (Pilgrim, 2015).

The promotional aspects are identified as one of the process by which the maximum profit can be generated by the products. As the product is specified with renowned identity so there is no need of promotion, but the promotional aspects like advertisements and online marketing can be used. The company possesses special products according to the season. So, the varieties can be improved accordingly. The promotion can able to provide better opportunities on the wide level (Papageorgiou, 2012).

To manage the sustainability, organization plans the annual meets and follow up procedures. By this, information for the upcoming ventures can be identified and new strategies related to the business can also be managed. The core product for the company is Salmon. The seasonal varieties are also gets identified for the production. By this, the environmental aspects can be managed and promotional perspectives may also be generated (Clare, 2017). The customers and stakeholders may also be addressed by the annual reports and 360 feedback system can also be identified for an improvement.

Organization Analyses

Finally the sales and success of the product is totally focused on the place from where the products circulation can be done widely. The products can circulate through the retailers, distributors, direct sales and through wholesalers. The production channel for the distribution mainly depends upon the retailers and wholesalers. The product is being sold out in retail shops and malls. The wholesalers also purchase the products from various sources by which the bulk products may also get circulated (Horvat, 2014). As the organization believes on the green pricing, so the mode of circulation can be done by establishing the sustainable pricing policies and the structure. The  intermediaries of the organization can be managed by matching, contact and promotion. It will be helpful in identifying the sustainability and management too. 

The comparative study for the report will be helpful in defining the major differences between marketing strategy of the competitors. The two major competitors of Tassal are identified. These competitors are named as the Huon Aquaculture and Petuna Seafoods. Both these organizations build their specific identify world wide (Team, 2015). The comparative study among all these are defined in the table structured below: -

Recommendations and Conclusion

The definite set of recommendations and conclusion is also drawn on the basis of the information provided above. The organizational strategy and promotional aspects related to the market are vibrant and recognized. It is essential to promote the marketing strategy at an initial level. Apart from this, the organization have to plan various new resources for the growth and development. It is also essential that the competitors should be identified. By this, the specification of the products and management of suitable resources can also be identified properly. It is also recommended that the pricing and promotional policies should also be manageable, so that the general aspects connected to the promotion of business can easily be increased (Araya & Krishnan, 2014). The Tassal is considered as one of the famous organization for sustainable development, so it is also essential to promote sustainability in a proper manner. Other than this, there are various opportunities which are considered for the suitable and considerable actions. 

The positioning chart will help in providing the best possible ways to find out the actual position of the organization in the market.

Araya, T. & Krishnan, M., 2014. SWOT analysis and recommended policies and strategies of Eritrean fisheries, Available at: https://www.researchgate.net/publication/274717323_SWOT_ANALYSIS_AND_RECOMMENDED_POLICIES_AND_STRATEGIES_OF_ERITREAN_FISHERIES

Clare, 2017. Global Aquaculture - Communications Technology. American City Business Journals, Available at: https://www.bizjournals.com/prnewswire/press_releases/2017/03/23/BR44584

Commonwealth of Australia , 2015. Australia’s seafood trade, Available at: https://www.agriculture.gov.au/SiteCollectionDocuments/fisheries/aus-seafood-trade.pdf

Dundas-Smith, P. & Huggan, C., 2006. An overview of the Australian seafood industry, Available at: https://aaa.ccpit.org/Category7/mAttachment/2006/Dec/13/asset000070002007202file1.pdf

Fitzgerald, M., 2013. Successful strategies for sustainable salmon, Available at: https://www.foodanddrinkbusiness.com.au/news/successful-strategies-for-sustainable-salmon

FRDC, 2014. How does the size of the Australian seafood industry compare to others around the world?, Available at: https://www.frdc.com.au/knowledge/q_and_as/Pages/size-of-Australian-seafood-industry-compare.aspx

Government, A., 2016. Aquaculture industry in Australia, Available at: https://www.agriculture.gov.au/fisheries/aquaculture/aquaculture-industry-in-australia

Horvat, P., 2014. Building a seafood marketing plan, Available at: https://www.frdc.com.au/stories/Pages/16-Building-a-seafood.aspx

McArthur, T., 2015. Tassal Group Limited vs. Huon Aquaculture Group Ltd: Buy, hold or sell, Available at: https://www.fool.com.au/2015/10/30/tassal-group-limited-vs-huon-aquaculture-group-ltd-buy-hold-or-sell/

Nic, A., 2012. SWOT Analysis: Fisherie, Available at: https://andssw1.and.nic.in/rti/Fisheries/17%20_b_%20SWOT%20Analysis.pdf

Papageorgiou, P., 2012. Seafood marketing research design, Available at: https://www.slideshare.net/philippospapageorgiou/seafood-marketing-research-design-15682284

Pilgrim, I., 2015. Tassal Group Ltd. – Sustainable Salmon Farming, Available at: https://investmentpilgrim.wordpress.com/2015/02/23/tassal-sustainable-salmon-farming/

Ryan, M., 2016. Tassal MD & CEO on FY2016 results and growth outlook, Available at: https://www.tassal.com.au/wp-content/uploads/2016/08/Market-Briefing-Tassal-MD-on-FY16-and-outlook.pdf

Singh, M., 2012. Marketing Mix of 4P’S for Competitive Advantage. IOSR Journal of Business and Management (IOSRJBM), Sep,-Oct., 3(6), pp. 40-45

Tassal Team, 2017. Tassal official website. [Online]
Available at: https://www.tassal.com.au/about-us/

Team, U., 2015. Market Analysis For Seafood Restaurant, Available at: https://www.ukessays.com/essays/marketing/market-analysis-for-seafood-restaurant-marketing-essay.php

World Ocean Review, 2017. Toward more sustainable fisheries. [Online]
Available at: https://worldoceanreview.com/en/wor-1/fisheries/sustainable-fishing-industry/