Marketing Strategy of Tassal
The information collected in the following assignment deals with the in depth analysis of Tassal in terms of their marketing strategies. In addition to above, the background of the concerned hatchery has been analyzed in terms of the applied 4Ps by the organization, in order to stand stable on the market world. However, the analysis has been further done in order to get the accurate effectiveness of the 4Ps in terms of the Huon Aquaculture, the competitor of Tassal. The information further collected explores the recommendations that are done in order to make the gaps faced in terms of Hygiene to reduce as per the application of the suggested requirements for the enhanced quality of Salmons to their target audiences.
In this individual assignment, it is focused on the different marketing strategy of the company Tassal. This company has the biggest producer and marketing of salmon in Australia. Tassal makes involvement in sales, processing, marketing etc in Salmon. Company cash flow is increasing rapidly, about 22% per annum and making a high value in finance. The main aim of study includes the Tassal company influence in the market by providing the seafood especially salmon fish worldwide. It is also expanding the retail market of Australia by an adequate supply of salmon. Company is supplying with proper amount of fish to the local countries. In order of increasing hotness of water in Tasmania, salmon fish takes much long time to grow up, suffering an extra cost to the organization.
Marketing background of Tassal
Tassal company also known as Tassal Tasmania Salmon was formed in 1986 in the Australia. It is a new entry towards the market of supplying the salmon in local as well in abroad having a brand of Salamancia Seafood Company. It is targeted in the whole market sector of Australia providing with a good quality of fish. The companies main strategy to make many options for the brand and product of fish among consumers (Tassal.com.au, 2017). In Tassal, it is committed to increasing capital income by getting the fish salmon by supplying proper market strategy in future (Brooks, 2013). The company main intention to get the fish solman and supply them to the wholesale, retail markets of Australia. Fish solman is a perfect food for the consumers, as they can consume them for lunch, breakfast and dinner. Therefore, company Tassal already makes an adequate supply of fish. In having, proper innovative strategies for marketing and development in the product have already secured the future market of Australian salmon industry. Tassal head office is located at Salamancia and the base is located in Tasmania. A proper growth plan is required for the main objective of Tassal for the welfare of the community and the salmon industry of Tasmanian.
Tassal has a policy of Zero Harm for everybody. It also makes an honor of badge for employee safety precautions. Zero Harm is applicable for all the business point of view, for achieving a huge growth in business to the shareholders, employees and the customers (Lisson, 2014). Tassal has many partners such as WWF to bits of help for the operations of business in the salmon. It also makes to reach a bigger platform area globally. Tasmanian is highly rich with heritage and culture having rich in the brands. The main intention of Salamanca Seafood is to get the future market with the seafood and other products having local fish salmon in Tasmanian.
Analyzing of market strategies
Tassal company has been the leading supplier of the seafood salmon has an innovative market strategy for grabbing the consumer properly.
Product vs Sustainability:
Tassal has a huge product range, especially for the seafood and salmon fish. The company produces a high-quality product by giving a fresh supply a salmon to the customers. In order to the high packaging of the product, a company makes a proper labeling of the brands and packaging of the quality product by making the item healthy and delicious to customers (Hill et al. 2014). In designs and materials, company Tassal makes a Papillion ribbon for the proper custom designing. Tassal makes a huge production making a benchmark of the fish farming of salmon. It is the world top’s company for the seafood making its impact in environmental and social in the year of 2015. Tassal receives seafoods known as De Costi. Organization also focuses on the environmental impact. It is also improved and maintain regarding the environmental problem making it high sustainable strategy. The company also aims to conserve, protect the environment for future and current generations (Katsikeas et al. 2016). The disposal of the waste products of the company is disposed of in safe position not giving any harm to the environment. Supply chain management must be focused on the global company to avoid the risk factor and to get the opportunity for the future life sustaining. These factors will ultimately help the company Tassal to sustain for a long period among the customers. In order of not causing any harm to the environment and the society.
Price vs Sustainability:
In order to a proper supply of products, the company kept the price of fish at a reasonable rate to the customers. An organizations main key point is to supply fresh product at a lower price to the customers. In order to keep this point in mind, a proper health and hygiene of the fish are required.While keeping the affordable price of the product, it will be easily consumed by the customers. As the customers need the salmon fish on a daily basis such as in breakfast, lunch, and dinner. Tassal Tasmanian Salmon can able to supply their fish products at a very reasonable cost. This is the reason by which the company makes a competition in the market. While launching of their new fish product in the market, the organizations make proper planning strategy in the market. For a long period, the company holds a good position in the competitive market in pricing as well as in different approach towards the strategy. Tassal company holds the proper price and values of the sea product (Smith et al. 2017). The entire new product launch can make a good quality based on the reasonable price. The organizations spend a lot of price in transportation while in export and import. By keeping aside of the extra price, the company stills holds a proper cost planning for the welfare of the customers and keeping the best quality of the product. While the company is making a high cost in the packaging of the product, so while giving that product to local customers, the packaging will be less costly as compared to an export of the product (White, 2013). The product prices are normally adjusted depending on the transportation cost and the packaging with their brand names. These factors will lead for the proper sustainable of the product keeping the price in mind for the welfare of the customers.
Promotion vs Sustainability:
The organizations make a huge promotional activity in Australia. Tassal Sustainable Seafood Day makes the promotions on the day of Australian Ethical Investments. A proper promotion activity will only help the customers to know the company fish product. Meanwhile, two company of Tasmania joined the promotional activity for getting a wider range of salmon product. The promotion will be based on the different strategy plans keeping in mind with the safety of the aquatic animals. The company had used a different promoting mix that is online marketing, PR, sales promotion and proper advertisement. In order to connect with the customers, a proper promotional activity will help the company’s growth. This promotional strategy will only help the company for the proper successive growth rate. By getting, the proper media for the advertisement will only reach to the customers (Reganold, 2014). Meanwhile, the organizations use certain online planning for the promotion of the sea products. Firms attempted different communications for proper designing to inform the stakeholders about the efforts and the achievement towards social, economic and environmental benefits. Banjo is having a brand of the company Tassal works with the promotional activity with the Tasmanian salmon. The company having minmal staffs of about 700, having the biggest company of aquaculture at Australia having listed in the public sector. Tasmania helps to promote the products in the localities. In order to a launching of new competition, Banjo creates an opportunity with the customers for getting the proper quality product (Badu-Apraku et al. 2014). The manager of Banjo will make the promotional activity for Tassal for the proper sea fish experience of salmon. The promotional activity will help the company for proper sustaining in the present and future market to the customers.
Distribution vs Sustainability:
The organization Tassal Tasmanian Salmon, also known as Tassal, has their branches in Hobart. Tassal company have proper channeling of the products among their processing plants Tassal is having three processing plant, located in Tasmania. The three plants are Dover, Huonville, and Margate giving a flexible timing among rural or semi-rural society. It plays a good quality of a product for the company of Tassal. Dover is having the Tassal basic plant, getting the aquatic fish from the vessel. It receives aquatic fish from Southeast area. It receives nearly of 6,000 aquatic fish depending on the daily orders from the customers (Lima et al. 2015) . Dover factory has a minimal employee of about 70 people of the semi-rural community. Tassal has already spent an amount of $3.5 for the proper up gradation of the plant tank for the proper treatment of the aquatic fish.Huonville of Tassal has been processing for over 14 years and having the staff members of around 190 people. It gets aquatic fish by the HOG salmon from the processing plant of Dover. Aquatic fish is kept in the chiller for around 3 days and then prepared for cold smoke. Cold smoking is the type of process in which flesh of the fish is flavored with aroma with a high smoking process. Huonville produces a little quantity of brand product for retailers consumers. Margate processing plant has been located for about 24 years. It has three factories for producing the innovation in the aquatic fish. The aquatic fishes are transported from the Dover to Margate and then kept immediately in a chilled condition. The company has been managing its market intermediaries with the three processing plant in Tasmania (Lisson, 2014). By having a proper position of the skilled labor in the three plant has made for the proper market execution. The firm has managed for achieving the proper sustainable distribution in the market. By having a proper location of the processing plant, will help for the proper distribution of the sea product to the consumers at an adequate amount at a reasonable price.
Comparison of Rivalry
As indicated by Hisrich and Ramadani (2017), an organization always works as per the competitive attitude that is practiced by both the concerned company and their competitors. Therefore, in case of Tassal, the concerned aquaculture industry considers ‘Huon Aquaculture Group Limited’ as their strong competitor. In addition to above, ‘both Huon and Tassal operates in Tasmania and are further integrated in marine farming, marketing and others related seas cultures. It has been further analyzed that both Tassel and Huan focused in their domestic market for their expert services.’ However, in case of Huon, majority of its revenue is collected from the wholesale channels, as they also sell fresh fish to the fishmongers and restaurants there wholesale channels is more stable than the retail one (Digital, 2017). As indicated by Datta et al. (2016), both the competitor organizations are strong enough to give each other a strong competition. Moreover, the Tassel focused on the brand strengthening and the enhanced per capita consumption of Salmon, whereas, in case of Huon, three year of Controlled Growth Investment program is maintained for efficient production. The evaluation of the 4Ps in terms of Price, Place, and Promotion along with Public Relation in case of Tassal is further performed in order to generate more revenue as compared to their rival industry the Huon (Digital, 2017). The practice of 4Ps are further the element that further enhance the selling and retailing values of the Salmons being hatched and stored in their hatcheries (Tassal.com.au, 2017).
However, the concerned organization further effort to push their white label products with the help of the margins and pricing set as per the overall expenditure. ‘Moreover, the strict quarantine needs, faced by Huon, there prevails a limited competition from the internal competitors as their benefits.’ ‘In addition to above, the growth strategy that is applied by the Tassal is mainly done through their promotional activities that are by marking replace and price of the products sold to their target audiences (Tassal.com.au, 2017).’ These strategies further comprised of the pricing, promotion and place of the company. In addition to above, the comparisons among the marketing mix of Tassal along with its competitor are further evaluated and recommendations that are suggested for improving marketing mix of Tassal. In addition to the above discussion, the cooperation that is gaining velocity with passage of time and adaptation of modern technologies, both Tassal and Huon further judge the two competitors in terms of the share prices that are further earned. Therefore, Tassal accounts for 1505% of share price gained in blast 12 months, whereas, Huon has been further accounted for the reduction of their share price at the rate of 17.5% (Digital, 2017). In case of Tassal, the 4Ps are practiced in order to generate more revenues from the retailing and selling values that are further added to the products in both smaller and supermarket stores. However, the concerned organisation further effort to push their white label products with the help of the margins and pricing set as per the overall expenditure. Therefore, by linking the above discussion with the case of Tassal, the CEO Mark Ryan, further made efforts for analysing the overall expenditures that is further spend for the promotional activities that is performed by the concerned firm (Tassal.com.au, 2017). The concerned company further makes their websites and further provides the variation of their products that is available for the customers. Therefore, through meetings and conferences held by the concerned organisation, the communication is held among different stakeholders of the company.
As indicated by Christenson et al. (2017), the services and products delivered from an organization deals with the level of quality that is delivered with the concerned service or product. As linked with the case study of Tassal, ‘there is certain recommendation that is required to be made for improving the overall result of the marketing mix. The business cards and brochures must be made presentable as per the illustrations that are required to be mentioned for the promotion of the concerned product. As their may rise technological failure, and it will be then the print medium is utilized for the promotional activities made by Tassal’ (Tassal.com.au, 2017). However, there are certain recommendations that must be made to the fishery of Tassal known for the Salmon fish as their prior product. These recommendations further are identified as to manage the natural environment of the Salmon, the concerned organization is further recommended to take proper precaution in terms of antibiotics on the water bodies where the fishes are harvested. The business cards and brochures must be made presentable as per the illustrations that are required to be mentioned for the promotion of the concerned product. Another recommendation that can be further made to Tassal are social approach made for the easy availability of the required inform feedback action to the target customers. Another recommendation made is ‘the active responses to the customers about the services of the Tassal through websites and blogs.
However, the above made recommendations are structured as per the discussed marketing mix and their adaptation by Tassal’(Tassal.com.au, 2017). Moreover, a proper set of department is structured in order to process the product in a hygienic manner along with the well presentation. In order to manage the natural environment of the Salmon, the concerned organization is further recommended to take proper precaution in terms of antibiotics on the water bodies where the fishes are harvested. Therefore, from the above made discussion, it can be further said that the industry of Tassal really requires maintaining their hygiene element to the moist prior factors among the rest. In addition to the above discussion, it can be d\further concluded that employees are further trained in such manner that the hygiene of the Salmons is maintained for every year during their harvesting season. Therefore, by doing the above the concerned organization takes the health issues of both the Salmons and the customers stay reduced and high in terms of health.
Market positioning chart