Executive Summary
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
Strategic Planning is looking at where you are now, knowing where you want to be in the future and planning the steps to get you there.
The Stingrae Caribbean a limited liability company. The Stingrae brand currently distributes seafood products through out Trinidad and Tobago and the Caribbean.
Products in the Stingrae line includes:- squid, crab backs, crab meat, shrimps, prawns, lobster (live and frozen), flying fish, white salmon, pink salmon, counter caviar, fillets of white fish, mussels, octopus and a variety of other seafood products.
Stingrae is a distributor and wholesaler in seafood products, is about to launch one of its new its products crab cakes into the market, using Market Development.
Crab Cakes has been one of the products on the Stingrae brand exclusively available to hotels and restaurants. The marketing plan seeks to launch the product to everyday consumers and caterers while still supplying to its existing market the hotel and restaurant chains.
Environmental Analysis
Demographic Cultural and Social Analysis
After looking at trends in the market and seeing that consumers are becoming more health conscious and the need for food that is easy to prepare it was decide that this product would do well in a consumer market made up of mid and upper mid income families and individuals.
The product will reach out to the working class and the decision maker of the household the company looked at the following
• Lifestyles
• Social class
• Income and financial status
• Use
• Religious background
• Change in work patterns more mothers are part of the working force making households where both parents are working
• Single parent households
• Environmental concerns and laws looked at environment groups and what impact they have on the buying market
Economic Analysis
One must look at the economic environment and how it will affect the launch of the product. One must look at:
• Saleability of the product - will consumers be able to afford the product
• The cost of Government taxes, if any involved in making the product available to consumers
• Exchange rate (since the product is purchased in US$ )
• Fuel cost (for transporting the product to consumer)
Technological Analysis
The nature of the product is such that it must be handled under strict conditions. The core product which is crab meat must be stored and processed under sanitary conditions and strict HACCP standards must be adhered to.
My SNHU Pet Store is growing because of its success in providing quality products to their pet-owning customers. The company would like to introduce a new line of pet foods with no artificial ingredients or additives. It will be a high quality pet food that would mirror the company’s dedication to providing quality pet products and will be named “My Healthy Best Friend.” This paper will show you how we will be doing this with this new product.
Blue crabs have the highest value of any Chesapeake Bay commercial fishery; in 2000, the blue crab harvest was valued at a staggering $55 million (Blue Crabs – Chesapeake Bay Program). For Maryland locals, the importance of crabs during the summer months is bigger than any other issues; summer days are spent at picnic tables picking away at the hard shells of the steamed morsels. During these months, commercial fisherman are up before the sun rises, riding along checking their lines and baskets in the bay in hopes of a good yield of the crustaceans to bring back to sell later that day. In fact, an estimated one third of the nation’s catch of blue crabs come directly from Maryland’s own Chesapeake Bay (Blue Crabs – Chesapeake Bay Program).Therefore, sustaining the population of crabs is essential in the success of the businesses that rely on the income from selling them, and also to the people who consume the crabs frequently. At the same time, the constant pressure on harvesting the crabs for income has created an issue. Since the early 90’s, yield of crabs has decreased, resulting in an increase of efforts to meet the demands of the business of co...
Marketing creates a healthy competition with other competitors which enables the company to remain in good relationship with the customers.
researchers are suggesting a more “judicious” approach in utilizing “limited biological raw materials” such as fish products (De Silva & Turchini, 2008). The challenges unique to the pet food industry is that, “pet food professionals need not only consider the total amount of protein to target, but also the quality, bioavailability, and ingredient source as well” when designing their formulas (Swanson, Carter, Yount, Aretz, & Buff, 2013). Research also indicates a need to further study the impact of the pet food industry on the fish market so that any prevalent issues are brought to the light, discussed and resolved instead of ignored (De Silva & Turchini,
For instance, crawfish and shrimp are two of the most used, well-known, and mass produced seafoods in Louisiana. Starting with the crawfish, it’s described as a “lobster like creature.” Commonly called mudbugs, crawfish are used in anything, from etouffee, to sandwiches, or even in crawfish pies. Since crawfish are so well-loved, crawfish boils are held in honor of the little crustacean, a classic Cajun tradition. Due to Louisiana’s bayous and swamps, the crawfish are able to flourish and can be cultivated, (KNOE, 2009). Besides the crawfish, shrimp is another cornerstone of Cajun cuisine. Louisiana’s position to the Gulf of Mexico allows Louisiana to be the “primary producer,” of the Gulf white shrimp, also known as “the best-tasting shrimp.” In fact, Morgan City was Louisiana’s “fishing boom town,” in the 1930’s and 1940’s. This was partly due to the shrimp stocks that were offshore from Morgan City’s port. Up to 95 percent of the shrimp are caught from the Gulf of Mexico, with Louisiana contributing around two-thirds of shrimp. Likewise, Louisiana manufactures dried shrimp which is considered a delicacy in some places. Dried Shrimp first appeared in Louisiana around 1885. At its height, around seventy-five drying factories existed in Louisiana, but now only 6 and 10 processors still make dried shrimp ( J.Horst, G.Horst, 2009). In summary, because Louisiana has access to many different waterways, seafood is often used in Cajun
The ‘Purple Shore Crab’ (Hemigrapsus nudus) is a tiny crustacean that inhabits the mid to low zone of the Rocky shore. This location is an intertidal zone, meaning that the organism lives in a very harsh environment. These crabs, as the name suggests, are purple in colour, with reddish-purple spots on their claws. They are known as decapods, because they have 10 legs (the first pair is modified into claws), and unlike many other crab species they do not have hairs on these legs. Crabs are invertebrates meaning that they have a hard exoskeleton (shell), they are also cold blooded meaning that they take on the temperature from their surroundings, as opposed to trying to maintain a general temperature (warm blooded). Purple Shore Crabs are omnivores, they scavenge for dead organic matter, plants
to the lobster and crab. Their closest living relative today is the horseshoe crab.The name
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
However, P. pelagicus cultured are important from the beginning of the last decade because of high demand for live crabs and crabs products in the export market. Due to their fast growth rates to market size (Josileen and Menon, 2005) and relative ease of hatchery production (Walker, 2006), the aquaculture interest of this species is growing. Blue swimming crabs are of high value and quality, a profitable export markets in Singapore, Kuala Lumpur, Hong Kong, South Korea, Taiwan and Japan by Australian producers (Stevens, 1997) Now day, P. pelagicus are cultured for the production of the lucrative soft-shell crab market on recirculation and lined pond systems in Australia (O'Neill, 2003 and Walker, 2006).
Strategic planning is the continuous and systematic process of guiding members of an organization to make decisions about its future, develop the necessary procedures and operations to achieve that future, and determine how success will be achieved.
Nestle and other breakfasts Cereal Company’s all too often sacrifice potential segments of the market to target one specific group, in many cases; small families and children. The front page of the Nestle website features a banner stating “Click to learn more about the new recipes of your kids favorite breakfast cereals” (Nestle). It is understandable therefore why as the RIAS Presentation suggests over 50’s feel “patronized” (RIAS) a view supported by the Millennium slides, which comment; “55% [of over 50’s] believe marketers treat them in a patronizing way.” (Millennium) An alteration of Nestlé’s advertising, packaging and consumer perception is essential, if they are to target the over 50’s. As the RIAS presentation suggests “Provide choice” (RIAS) perhaps in a variance of products, and show that Nestle “listen to customers” (RIAS) will see successful penetration of the over 50 market segment.
Strategic planning is an organizational process in which it looks towards developing and sustaining success or balance in its ever changing environment.
It involves the vital process of researching, promoting and offering products or services to a company’s target market. Marketing is an important business process where the company can inform, attract and convince people that its products or services are of value to them. Without Marketing, many businesses would be unable to exist or operate well in the market. They could offer the most amazing product or service in the market, but if nobody knows about its existence or understands its value, these companies are unable to make a single sale thus they may have to be out of
Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.
... the Bahrain food control authorities must be in a position to address and counter all the threats to the system identified. For example, the threat faced from the inability to critically analyze the food regulatory agencies could expose the population to unsafe foods. In other words, there are high chances of cross-contamination of food during inspections due to weak inspection services and procedures. Worse still, the government may lack the capacity to bring food-borne diseases under control should they break out. Overreliance on imported food however remains the biggest threat to Bahrain food control system as it implies that the food problems in the countries of origin would be imported into Bahrain. One of the proposed or recommended strategies for Bahrain regarding its food control system is the adoption of an integrated approach to food control activities.