Tassal: A Pioneer in Salmon Farming Industry
Analysis of the Marketing Approach and Strategy for the Selected Product of an Australian Based Company.
The report is regarding marketing and management of a famous Australian brand Tassal. It states the importance of effective marketing strategies in today’s scenario. to create a diversified position in the market it is advised that the brand needs to adhere to a systematic branding approach to create a valuable brand position in the market. Tassal is a pioneer of Salmon farming in Australia. In a competitive atmosphere, it is recommended that the business organizations need to develop effective brand strategies so that they can sustain competition. The report provides information related to the marketing strategies that required to be adopted. Marketing mix analysis and SWOT Analysis in the report helps in making an inference about the brand position (Tassal named top salmon company.2016).
Tassal is a famous salmon farming brand since 1986. It is the largest producer of Salmon in Tasmania. They are currently known as one of the largest employer in Tasmania. The company grew from a privately owned operation to a major public company. It is listed on Australian Stock Exchange. The company is known for producing traditional fresh, frozen, smoked and canned salmon. They are selling value added salmon product in different retail stores and has recently earned place in the export market. The head office of Tassal is in Hobart and sales and marketing office lie in Melbourne. They have two retail stores located in Salamanca, Tasmania and Kew Victoria. The two major competitors are: Huon Aquaculture and Petuna Seafood’s. In a short tenure the company has attained the desirable market in Australia. There is a necessity to develop concrete marketing strategies to attain advantageous market position. In a competitive world it is important for a brand to develop itself as an successful brand (Products.2017).
to attain a desirable position in the market it is essential for a brand to develop successful business strategies. In a competitive atmosphere the marketer need to develop policies to strengthen efficacy in the market. Tassal has to focus on the current market comprehensive business strategies and expansion strategies to attain desirable results. The marketing and business strategies will help the brand in developing cohesive brand strategies to attain business goals (Solomon, 2014).
Firstly to reach a noteworthy position in the market it is advisable to develop efficient business strategies that will help the brand in attaining objectives. Firstly it needs to develop policies and procedures to achieve place against the competitors. The marketer needs to develop policies and procedures in a manner that it helps the brand in gaining sustainable position. Secondly the whole focus of the brand should be regarding development of market strength. There is lot of competition from the other local business organizations. In such a situation it is advisable to develop concrete marketing strength that will help the brand in attaining objectives (Hollensen, 2015). In a restricted atmosphere the main focus of the brand should be regarding improvisation of strengths. The market capacity can be attained by developing futuristic growth strategies. The brand needs to struggle hard against the global competitors as well. All the opportunities and threats need to be assessed well before implementation of the marketing strategies. SWOT analysis is a helpful tool in understanding the brand’s strength and weakness (Burgess, 2017).
Marketing Strategies for Tassal's Sustainable Positioning
The primary purpose is to implement a marketing strategy is for achieving direct result in long term sustainable growth. There are various components that are necessary for an individual to develop to attain marketing objectives. The overall purpose of the marketing plan is to develop an effective understanding in planning the business in an efficient manner. The business can only develop if the purpose is achieved through implementation of marketing objectives. The primary objective of Tassal is to become a well-known brand across globe (Baker, 2014). They have currently restricted their operations to Australia. In the coming years the company is planning to expand their operations across the globe. This requires a concrete marketing strategy in terms of future perspective. This is however important for a brand to expand itself to attain global efficacy (Hansen, 2017). The Tasmanian Salmon is famous around the world for its exquisite taste. It is suggested that Tassal need to develop effective partnership deal with global fishing companies. This way they can plan to expand business in other countries as well. The SWOT Analysis helps in analyzing their status in the current market and assure the process though which they can expand their function in the domestic and international market (Turnbull and Valla, 2013).
The Tasmanian Salmon producer has set a benchmark in the international market by selling the world’s top salmon and trout. The company is setting a high benchmark by following sustainable dedication towards economic as well as environmental development. This has helped them in attaining efficient market position (Strauss, 2016). Tassal is driven by sustainability business and committed to work with the stakeholders, staff and partners in order to implement improvement. The partnership with WWF Australia is one of the important benchmark in attaining growth and recognition in the local and the international market. They are consistently working for attaining sustainability. Tassal have been certified by the Aquaculture Stewardship Council (ASC) by WWF. They have most efficiently set the policies in order to attain highest global standards. They are a proactive advocate environment safety and ecological balance. This has voluntarily helped in transparency and effective communication. In a restricted atmosphere the main focus of the brand should be regarding improvisation of strengths and to work on their weakness (Tassal.2017; TASMANIAN SEAFOOD INDUSTRY COUNCIL.2017).
The marketing plan helps in achieving the business targets. It is evident that the business around the world needs to develop marketing plan. Large sized business organization like Tassal need to develop itself as a proficient market leader by actively leading an example in the industry. Fishery is one of the primary occupations of people in Tasmania. Looking onto the current market situation and the demand of Tasmanian fish in the world it is suggested to develop marketing plan (De Mooij, 2013). The company is facing threats from the other local and international brands. There is a necessity to develop effective marketing strategies considering the 4 P’s of marketing. This will help the business in attaining market objectives.
Expansion Strategies for Tassal's Global Market Penetration
Firstly it is important for Tassal to give importance for developing their primary product. This will evidently help the organization in attain desired goals. Tassal has to develop product with high quality against its competitors. The products need to be at par with the international quality standards. This will ensure effective survival of the brand while looking onto the current market situation. Currently the brand is providing fresh, frozen, canned fishes in the local stores in Australia. It needs to improve their reach by focusing upon the business strategies. The brand needs to show a huge market presence in the local and the multi-brand store. It is evident that the brand should focus on reaching every individual place so that the customers don’t switch on to the other brand. Tassal needs to develop the product in local and international market. It needs to improve product life cycle. It should focus on developing the product by focusing on different phases. This is evident for a business to develop concrete strategies to develop International Product life cycle. They need to specifically strive for local and oversea innovation. Implying all these strategies will help the brand in competing against the other brands. After attaining maturity in the international market the brand needs to create worldwide imitation. Last stage is related to reversal and the whole process related to the product life cycle keeps going. Tassal need to come up in the market with a concrete planning structure and it is evident for a brand like Tassal to develop effective product strategy to attain desired results (Czinkota and Ronkainen, 2013).
In a competitive atmosphere it is evident that the brand should sell product at a competitive price. At present the brand like Huon Aquaculture and Petuna Seafood’s are major competitor. Tassal need to sell their product at a price that seem affordable from the point of view of customers. The market is highly competitive with few recognized competitors. In such a condition it is recommended to keep competitive price to reduce the brand switch over price. It is highly recommended that the brand need to utilize Contribution-margin based strategy in maximize overall profit. The product contribution to the company can maximize the total amount of profit. In this manner the company can achieve the desired results by effectively contribution on to the margin based pricing. On the long run the company can generate maximum capacity by removing the extra cost applicable in between the whole process (Armstrong, Adam, Denize and Kotler, 2014).
The product promotion is considered to be one of the most effective activities to increase the product visibility in the market. It is important for the brand to gain positive recognition among the customers (Fawcett, Ellram and Ogden, 2014). It needs to carry out marketing and planning strategies like advertising and promotional scheme that will help the brand in attaining recognition in the local as well as International market. It is necessary that the brand should fully utilize the marketing strategies to attain desired results. A separate budget needs to be allocated for the purpose of promotion. This will for sure help Tassal in attaining market recognition (Baker, 2014; Moriarty et al 2014.).
Sustainability and Environmental Commitment of Tassal
The place of business is effective for the band in order to achieve sufficient recognition in the market. However the brand is available in the entire local and multi-brand store in Australia. It is highly necessary for a brand to be present at every place. This will help the brand in attaining considerable market share. In case of the international market, Tassal needs to form effective relationship with the exporters in order to attain successful result. In the recent time period there is an increase in overall demand of Salmon and Trout. The easy availability of product at an every store will help the brand in attaining desired objective (Kotler, Keller, Manceau and Hémonnet-Goujot, 2015).
The products need to be placed in a manner it help the brand in attaining visibility. It is necessary that the brand need to develop concrete marketing strategies by focusing upon distinguished market capacity. In this manner the brand will be able to strengthen brand visibility.
Tassal Huon Aquaculture Petuna Seafood’s
They are providing fresh, frozen and canned salmon and Trout
Tasmanian fishery company providing fresh, frozen and canned fish
Fishery producing quality fish of fresh frozen and canned fish.
The product is available at their own retail outlet and at Woolworths and Coles.
Products are only available at their own retail store
Restricted outreach to customers.
Using more interactive mode of promotion to attract customers.
Promotion techniques are invisible. The brand is more involved in traditional technique.
No effective promotional technique
The products have a better outreach than the other two companies. The products have an international outreach
Products available at restricted store
Restricted availability in few Australian stores owned by Petuna.
It is recommended that The Company need to focus on expanding business across globe. It is evident for Tassal to develop quality to develop effective market strategies. The purpose of Tassal is to provide high quality fish. The brand is already a pioneer in Australia but it is suggested that the brand need to create appropriate brand strategies to expand overseas. The brand requires appropriate market visibility. This can only be attained if a brand creates effective strategies in order to attain appropriate market (Armstrong and Taylor, 2014). The promotion strategies need to be adopted so that thereby can attain visibility in the international market. It is thereby necessary for the brand to attain efficiency by developing effective promotional strategies not only in the local as well as International market. The brand is thereby needed to focus on making changes according to the developing market. This provides them with a tool to attain concrete results on a long run. The purpose of attaining efficiency is through appropriate market strategies. On long run Tassal has to attain sustainable results by working on their core competencies (Hill, Jones and Schilling, 2014).
To conclude it is evident from the report that Tassal has been working efficiently in the market and have attained sustainability through their aggressive market strategies. In such a competitive atmosphere it is necessary that the brand thereby develop market competency by accomplishing desired goals. It is necessary that the brand need to adhere to the sustainability results in order to provide quality results to the customers. The report incorporates all the necessary marketing strategies necessary looking onto the Tasmanian fish industry. In a competitive atmosphere it is recommended that the business organizations need to develop effective brand strategies so that they can sustain competition. In a short tenure the brand has attained capacity. It is the high time for the brand to develop itself in the international market. It is only possible if the brand develop competencies through enabling high market standard. Recommendations are given at the end of the report which will provide readers with a quick insight into the fishery industry and its development. Looking onto the current market it is visible that the market has lot of opportunity to develop itself. It is recommended that Tassal need to adopt successful business strategies like a comprehensive business atmosphere that will help the business in expanding function in Australia and all over the world.
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