BUS5SMM Guidelines for Marketing assignment
The aim of this assignment is to conduct a marketing analysis - that is a study of the marketing environment and strategy - of Tassal
The report should contain the following elements:
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
- Analyse the main Products, services, suppliers and customers of the company
- Place (distribution)
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
5. Appendix: Include a SWOT analysis and a Positioning chart.
GUIDELINES FOR MARKETING ASSIGNMENT
Marketing strategy can be referred to as the planning and plotting of the best marketing practices for both short-term, and long-term activities in accordance to the annual productivity and analyze the existing and evolving marketing that deal with the examination of the marketing structure and situation for the company and contribute to the attainment of goals of the company and its marketing objectives. The marketing environment is the main aspect of the Tassal. Tassal has been functioning over twenty-five years that manufactures delicious, fresh and healthy Tasmanian Atlantic salmon that are fished from the pristine waters. In the contemporary time Tassal have been producing Atlantic salmon in Australia (Tassal Tasmanian Salmon, 2017). The company has appointed and recruited over eight hundred people in different sections who collaborate and cooperate in producing delicious Superfood. The paper focuses on discussing the marketing strategy, its importance and the marketing aspect the company. In addition, the company will take up the sustainability plan in consideration of the future aspect and the marketing strategies that will help the company to strategize for better things and analyze the competencies in the market. The study will evolve out in accordance to find the retail supermarket company, Tassal based in Australia process the marketing criteria that will indicate the growth and future possibility in the global market scenario.
Tassal is one of the supermarkets producing delicious food keeping in with the customer’s demands and interests. The company has been improving its communication with the stakeholders, marketers and customers. Tassal have been trying to achieve operational excellence and along way protect its core and performance values in relation to the quality, quantity, community and work environment. it looks forward in growing premium healthy and tasty salmon, in appealing an d attracting more number of global consumer priorities. The company in relation to its marketing structure has been assessing regular information and assurance that their food is grown, produced and developed within an environmentally and socially responsible way that do not harm the natural environment (Rust, Lemon and Zeithaml, 2014). The company focuses on strategizing the marketing plan under the decision of the leaders, professionals, human resource managers and employees in sharing the company’s passion and innovation while providing best salmon in different season and occasion.
The grocery market is planning for new things in the market area and they are into constant improvement so that they can serve the best value to the customers. The company has been applying several strategies that will be able to sustain the market demands and supply and to implement the best practices of marketing in meeting the challenges and changes posed by the competition to the other companies. The constant improvement of the company will provide itself a big opportunity for the competencies in the marketplace and the sustainability practices of the organization in accordance to society, environment and economy will help it to create a perfect market base. The company has been improvising several methods in preserving the environmental background while safeguarding its productivity. Along with that, the company has considered the value of commitment to the customers for serving the exact need of the customers in the retail market and has been successful in expanding its traditional marketing and E-retailing for betterment in the customer’s service. Tassal needs to maintain its essential rights of all healthy, clean and safe environments, equal opportunity, fair remuneration, ethical procurement and the adherence of rule of law which will help the company for efficient and effective production and distribution of salmon and other products (Shih, Chen and Chen, 2013). The decision-making process of the company need to go parallel with the ethics, vision, mission, in respect towards the universal principles by the procedure of identification, assessment and prevention of adverse impacts and influence on the environment and especially the existing market.
The economic upliftment will establish the fiscal ideas and effect strategies in relation to the objectives, and targets that will balance the need of stakeholders incorporating immediate needs of the consumers. The company has been undergoing business design and notion of popular and formulated and transparent marketing process that tends to integrate independence, social and economic development, social integrity and enhancing the work structure and operations. The principles and policies of the company is value based that will be able to preserve, conserve and strategize the productivity, quality and availability of resource for the improvement of marketing efficiency, structure, distribution and supply in relation to the availability of resources and technologies. In addition, Tassal has also considered the social and ecological equity in assessing customer needs and interests through demographic dynamics.
Marketing strategies of Tassal:
Marketing strategy refers to the plan of necessary and efficient action that is designed by a company for the promotion and selling of a product or service. The marketing strategy considers a lot of elements in fulfilling the actual marketing process of Tassal that include understanding the customer, the customer interest, revenue, sales, distribution and supply (Shih, Chen and Chen, 2013). In addition, the marketing strategy needs to determine the customer orientation and production policy that will help in fulfilling the needs of the customers. The company needs to prepare its own SWOT analysis through which the organization will be able to examine its existing strength, weakness, opportunity, and threat. The preparation of adapting to the global marketing competition enables organization's service and products in meeting with the changes as the rival companies affect the operational activity. The most important of Tassal is its marketing network that is one of the necessary elements of the company in enlarging a wider base of customer and attempt to serve with best and authentic products in terms of salmon and other purchased products. The strategizing of marketing mix will emphasize in preparing better plans in regards to eth targeted demands of eth customer and the organization.
Besides, examination of the marketing mix and adoption of new strategies will help the organization to gain profit in long run and create a reputed and favorable image to the customer’s mind. The four-Ps of marketing that is referred to as theproduct, price, place, and promotion help to gain a considerable amount of growth and success in the marketplace. It is important for Tassal to promote effective marketing partnerships that will provide a number of benefits to push a marketing campaign and awareness (Kumar et al. 2013). In addition, marketing partnerships can create more new plans and expose the brand to a new audience and the global customers. Another strategy is to implement effective problem solving method by creating customer sales service and customer query team that will offer exclusives that make their lives easier while providing them with immediate resolutions and solutions fostering healthy relationship through effective communicative tools. Therefore, in strengthening the marketing plan, the company will be able to understand customer needs and implement powerful marketing methods and policies.
Marketing mix in reference to Tassal:
The marketing mix is referred to as the fundamental marketing operation that originated within the concept of marketing. In literal term, it is defined as set of marketing tools that is used by the company, Tassal to persuade the workers in fulfilling the regulated objectives in the relation to the attainment of company's target and consumer demand and interests. There are four important components of marketing mix that is referred to as the 4Ps (Koo, Kim and Kim, 2016). The components of marketing mix have become the dominant and essential framework in relation to the marketing management decisions. In the recent times three more important Ps have been added to the seven elements of the marketing mix. The 7 Ps besides the 4ps are also important in determining the marketing strategy within Tassal are price, product, place, promotion, people, process and physical evidence. In the business term, marketing mix is considered as the mixing of factors that is identified, examined by Tassal with the help of professionals in motivating and encouraging the targeted consumers that will boost overall performance and purchase of products (Mintz and Currim, 2013).
Among all the components of the marketing mix, the product determine as to what the company offers for sale and what would be the quality in appealing the customers. The quality of the product examines and evaluates the success of the company as every company’s brand name depends upon the packaging, quality and quantity of the specified product. Tassal focuses on the product quality and its unique characteristics, branding, services, profits, funds in relation to the product supply and accordingly have a team who assesses the product benefits and profit, design and product packaging that stands as important element towards marketing strategy and fosters business communication (Cavusgil and Zou, 2013). While another important component is the price that focuses on the pricing and discounts and sales. This help in examining the form of payment structure for both online and retail stores that involve credit payment or credit terms and masks way to the customers in the decision-making process while determining the price that is referred to as bargaining. Bargaining is the process that allows the customer in negotiating in regards to a specific product such as salmon under the consideration of the product quality and quantity.
Figure 1: Marketing mix
(Source- Möller and Parvinen, 2015)
The place is an important factor in accordance to Tassal that prepares a structure and assesses the locale or the environment around which the organization can operate and perform its functions. The place factor tends to analyze as to how the place affects the work environment while examining the direct and indirect channels into market within the given locale that will foster geographical channel, retail outlet and market location and channeling product distribution and supply. The place also checks and arranges effective transport facility that will provide multiple channels in processing the work structure and does not affect the environment and the sections of people living in and around the workplace. Therefore, place becomes an important factor in facilitating the transport, environmental balance, supply and distribution channel (Leonidou et al. 2013).
The third important element is promotion that refers to the ways through which Tassal tends to advertise and promote its existing product while re-launching more products and types of salmon production in meeting the demands of the global customers. In planning, promotional strategies utilizing the digital and print media as well as technological advancement the company can reach out to the targeted consumers (Rundh, 2013). Tassal production is incomplete without its people. It could not have been successful without the efficiency and hard work of its members including employees. People are therefore, significant in the marketing of the manufacture of salmon and other domestic and delicious products and services. The significant people are the key personnel such as the individual, human resource manager, leader, team and employees along with the staff members who together collaborate and cooperate toward attaining the targets of the company. The people will help in planning the marketing strategy and enhance quality performance and production. The most important of all the people are the employees who are appointed in different segments like packaging, fishing, assessing, production etc for whom the company is set and established in fulfilling every demand and interest.Physical evidence deals with the materialistic and non living objects in relation to Tassal’s production that are required for the production process such as equipment, furniture and infrastructural the service encounter, distributor channel, transport system, interior design, color schemes, catalogs, brochures, transport, artifacts and invoices. Without all these elements, it is impossible to maintain and channelize the company towards success and fulfillment of services and distribution (Huang and Sarigöllü, 2014).
Therefore, the company needs to meet the regular challenges and changes in order to sustain its productivity and performance of salmon and food and flavor. Process refers to the set of activities those results in delivery of the product benefits, production, distribution, demand and supply. As analyzed, Tassal have been operating within a workforce of more than five thousand employees operating in Australia and is attempting to expand the whole sale market regionally and internationally. Tassal need to have trust and belief in producing good quality, fresh, smoked, flavored and frozen Tasmanian grown salmon and foster maximum distribution in both the retail and wholesale supply into eth market distribution chain throughout Australia and increase the export markets that will in turn expand its existing business (Hanssens et al. 2014).
Tassal is popular for its excellent sales assistants who together works in gaining success to a great extent with the main aim of customer satisfaction under the three ways of successful process of production such as identification, evaluation and implementation of the production panel and structure. There are several departments within the Tassal company that include customer and staff service, occupational safety and health management, packaging and product quality, record and report, distribution and supply, human resource department and product management. Therefore, in meeting the marketing structure and demand the company needs to formulate its own policies and procedures towards the required process through which the company can attain their goals and fulfill targeted objectives and enhancing global production.
Recommendations for improvement of the marketing mix:
Tassal that is growing manufacturing market need to improve the marketing mix so that the company can make better business within the competitive market. The company needs to improvise and modify its existing marketing plan and design essential alternatives and scopes fostering the growth of the business. There are various recommendation for the improvements within the market mix that includes utilization of the print media and digital media within the market for effective promotion and publishing of the product (Helm and Gritsch, 2014). The company needs to strategically advertise so that the customers are able to get the adequate information of the relevant products that exist and those that need to be re launched or promote new flavors and products (Mintz and Currim, 2013).
The details of advertisement need to include price and specification, quality and usage. There need to be proper brochure and catalogues of the items that will give the retail customers in seeing and accordingly choose their own products. Besides, the utilization of the print media, the company can deliver, convey and update its information through online media. With the rapid globalization and technological advancement, the company can able to keep constant connection not only with the regional but internal customers through creating pages in different social networks. In creating its own website Tasasal will be able to expand its brand name and the product can be distinguishably promoted to the target customers (Fan, Lau and Zhao, 2015). Another major recommendation will be the organization of certain effective events where the customers can be directly attracted and encouraged towards the new products and existing products resulting in expanding brand name and also utilizing the press release.
From the above study, it is understood that the marketing strategy is the fundamental process of increasing sales and productivity and help in achieving Tassal’s competitive advantage. Through the effective implementation of marketing strategies that is essential in meeting the company standard and the attainment of the set of goals. Tassal has to constantly meet the competitive environment, therefore, the company needs to constantly evaluate and plan its work structure and production. Such productive planning will be able to meet the challenges posed due to global competition external and internal threats and risks. The company needs to assess, examine every day outcome that will improvise and modify the existing strategies. It is important to improvise the guidelines, policies, marketing strategy in accordance to the company’s aim and vision while allowing every personnel in participating in the decision-making and operational activities that include the supervisor, human resource manager, stakeholders, investors as well as the employees within the company. With the constant changes, the company need not divert from its existing and formulated focus on effective customer service and strengthening of employee relations. The management team of the Tassal needs to examine the planned marketing activities against the original vision and objectives in fostering communication, productivity, management, work structure and performance. Tassal needs to strengthen its planned and well-designed business strategy that will overcome the recognized gap between productivity and that affects constantly changing business atmosphere. With the developed marketing strategy that has been implemented and documented by Tassal need to evolve with time and train its employees and members in effective ways who will be able to adapt to the changing market conditions and meet the customer’s growing demands. Tassal needs to modify its existing marketing plan to re-launch, and enhance promotional activity besides provide significant data in creating a new marketing strategy that will help in increasing the brand name and spread its business chain across the globe.
Purchase report of Tassal
Tassal per capita income
Proposed SWOT analysis for Tassal :
Positioning chart of Tassal: