Marketing Strategies Are One of the Most Important Components

Question: Discuss About Marketing Strategies Are One of the Most Important Components? Answer: Introduction Marketing strategies are one of the most important components that help in gaining market efficiency. In a diversified economy it has become evident that the brands need to accept an effective market strategy in order to gain efficiency. A company can only grow if it adopts market strategy in accordance with the growing needs. It is important that the organization need to adopt the market capacity by developing effective strategies in relation with the price, product, promotion and place. The purpose of the report is to derive an effective market strategy for the Australian brand Tassal. It is one of the renowned Salmon and trout Tasmanian brands famous in all over Australia. The purpose of the report is to suggest effective marketing strategies in order to promote an effective growth in terms of capturing local and international market. The main purpose of the report is to evaluate an effective market strategy for the brand (Jobber and Ellis-Chadwick, 2012). Companys Description Tassal is a famous Tasmanian brand know for its quality Salmon and Trout. The brand is current providing employment opportunities to the local fisheries. The company is even Tassal started its operation in the year 1986 in Tasmania. Tassal is also listed on the Australia Stock Exchange. The purpose of the brand is to provide quality Salmon to everyone in Australia through sustainable fishery farming (What we do and dont do about Tassal. 2015). Within a short period the brand has attained recognition in all over Australia. They are selling fresh, frozen, smoked and canned Salmon. In the recent time they have also started selling export quality salmon to the other countries. They are selling their products through the small and big retail stores located in Australia (Tassal. 2017.). the purpose of the brand is to reach each and every customer in Australia and to provide quality Salmon. It is one of the most favored brands in Australia. It is due to the fact that people are more incline d towards the quality as provided by the brand. On the long run Tassal has efficiently managed to keep efficient quality. This has helped the brand in attaining systematic growth within a short period of time. Tassal is available in all the local and multi-retailer stores like Woolworths and Coles. This has helped the brand in attaining effective market strength over the other competitors. The two leading competitors are Huon and Petuna. Tassal is selling throw their retail store (Salamanca, Tasmania and Kew Victoria) (Tassal Operations. 2017). Marketing strategies The marketing strategies are important for an organization to attain efficacy by developing market strategies. It is thereby necessary to develop effective market strategy so that the brand can compete against others. It is evident that Globalization has led to excess competition in the market and it has become necessary to figure out an effective brand strategy that will help in facing the competition. Market strategies are developed as per the local market condition. Seafood is one of the important cuisines in Australia. Salmon is considered to be one of the staple foods in most of the local families living in Australia. In Tasmania fishery is considered to be one of the primary occupation. The demand for Tasmanian fish is increasing in the international market. Under such a demanding atmosphere it is important that brands develop effective and progressive marketing strategies in order to grow fiercely (Malhotra, 2008). Market expansion is important for Tassal after seeing a huge d emand from the International market. It is evident from the research that the brand will develop only if it tries to expand itself in an effective manner by following progressive technology. It is important for a brand to highly look after all the aspects in order to become one of the most recognized brands. In the current atmosphere it is important that the brand has effectively attaining the local and international needs by looking onto the individual market needs. The two of the competitors are supplying products to the wholesalers whereas Tassal is tapping the customers. It understands that it is one of the effective manner through which the brand can attain desired results. A concrete market plan is required for Tassal to grow in the international market (Belz and Peattie, 2009). It is seen that the brand is a well-known pioneer of sustainability. They understand the importance of sustainable development of environment. In the recent time there are reports regarding the exploitation of environment and resources. It is important for the brand to utilize effective procedures to develop market competitiveness. This will help the brand in attaining significant growth in a limited time period. It is necessary that the brand should attain high level of market capacity by developing effective procedures to raise fisheries. The aim of the brand is to provide high quality products to the people. It is evident that this will help the brands in attaining desired results. The brand has developed relationship with WWF Australia in order to develop sustainability. In such a competitive environment it is necessary that the brand should develop effective relationship with the other organizations. Environment protection is one of the projects undertaken by Tassal in order to develop sustainability. The brand has adopted effective branding and promotional strategies. It is due to the excess market presence that the brand has attained high degree of market strength. It is necessary to notice that the brand has to develop effective market strength in order to attain efficacy. It is the necessity in the current market that the brand should develop effective market strategies that will allow a brand to grow in a diversified manner. It is necessary that the brand need to develop effective market strategies that are necessary to grow in a productive manner. The marketing strategies need to be developed in accordance with the market requirements. It is the necessity that the products should be developed in accordance with the market standards. This will help the brand in attaining desired market strength. All the brands are competing against each other in a diversified market conditions. It has become important for the entire brand to develop market strength by designing effective market strategies. These strategies will help the brand in attaining a sustainable market position. In excess competition it has become an important aspect for a brand to develop effective growth strategies. These growth strategies will help the brand in attaining a sustainable market place (Hanson and Kalyanam, 2007; Czinkota and Ronkainen, 2013). 4 Ps of Marketing The marketing strategies are important for a brand to grow under the diversified market situation. It has become evident for a brand to adapt effective market strategy in order to grow effectively. The brands need to develop proper strategies so that they can compete in the international market. It is important for a brand to develop proper strategies in order to attain high level of efficacy. The marketing strategies and planning is one of the effective tools necessary for Tassal for its overall development. The brand can only grow effectively in the market if it develops efficient market strategies. It is necessary for every brand to develop proper planning and strategies in order to grow. The marketing strategies play an important role in establishing effective policies and procedures (Aaker, Kumar and Day, 2008). It is necessary for the brands to develop an effective planning mechanism in order to develop products with high quality. It is important for a brand to understand the g rowing needs and to achieve the target by developing plans in a proper manner. The product, price, place and promotion strategies are important for Tassal in order to attain current market. The overall market is developing at a fast pace. Under such a competitive market condition it has become important for a brand to develop effective market strategies. The growth of a product is only possible if the strategies are developed in an effective manner (Cateora, 2008). The growth can only be attained if the products are designed in a manner they are capable to fetch customer attention. In a diversified market condition it has become important for the brand to develop cohesive market strategies by analyzing the role of each marketing mix. These marketing mixes are one of the efficient tools used by the market to analyze the systematic growth. There growth is only possible if the brand is able to frame effective marketing strategies. It is important for a brand to develop a proper structu re in order to attain market requirements (Kotler, 2012). It is the necessity as per the current market situation the brand should be able to frame effective policies in order to attain effective growth. It is important for a brand to develop proper planning structure in advance in order to attain the overall market (Parasuraman and Colby, 2007). Product In the diversified market situation, there are many brands who are selling the same product. In such a competitive atmosphere it has become important for the brand to adopt effective brand strategy in order to compete against other. Each and every brand can only attain efficacy. Within a short period the brand has attained recognition in all over Australia. They are selling fresh, frozen, smoked and canned Salmon. In the recent time they have also started selling export quality salmon to the other countries. There are other competitors in the market selling the same quality product (Terpstra Foley and Sarathy, 2012). Under such a competition it has become evident for the brand is to develop an effective product related strategy. In this way Tassal can attain a competitive advantage over the other brands. It is important for a brand to develop effective market strategies that will help in gaining effective position in the market (Armstrong, Kotler, Harker and Brennan, 2012). Price In the current market all other brands are selling the similar products in the market. It is important for the brand to effective implement the policies and procedure in order to grow in an effective manner. It is necessary for a brand to keep competitive price against the competitors. It is necessary that the brand need to develop an effective price strategy by analyzing the profit margin. Tassal has created an effective market position in a short time-period. It is important for the brand to develop effective procedures so that the growth can be attained in a limited time period. The aim of the brand is to provide high quality products to the people. It is evident that this will help the brands in attaining desired results. The brand has developed relationship with WWF Australia in order to develop sustainability (Pride, 2008). Place It is necessary for a brand to be made available in an easy manner. The growth is only possible in the case if the products are easily available at the place. It is evident that the product needs to be made available at all the desired locations. This will help in attaining desired growth. At present the product are available at the entire local and the multi chain stores (Boone and Kurtz, 2013). With an increase in the competition it has become evident for the brand to be available to all the local and international customers (Gummesson, 2011). The products need to be placed in an effective manner that helps in gaining huge attention. The switching rate of customers is very high in such products. Hence it is important for the brand to develop an effective place related strategy. This will allow the brand to earn recognition. It is necessary that the brand need to develop effective market strategies that are necessary to grow in a productive manner. The marketing strategies need to b e developed in accordance with the market requirements (Jain and Haley, 2009). Promotion It is evident in the current scenario that brand should develop an effective promotional strategy. These strategies will allow the brand to grow in an effective manner. Promotion is one of the important components of marketing mix. It is evident that the brand needs to develop effective promotional strategies in order to grow. The productivity can only be attained if the brand has created effective market strategies. Branding promotional strategies are two of the most important strategies necessary in the current scenario. These strategies help in seeking customers attention. It is evident that the brand needs to develop effective promotional strategies that will allow the brands to grow in an effective manner (Hollensen, 2015). Comparison with the competitors It is however necessary for a brand to compare oneself with the other in order to analyze the effective market results. The below mentioned is an effective examination of the market mix between Petuna and Huon. This comparison will help in creating effective results in order to analyze difference between the approaches as utilized by various brands in the current market scenario (De Mooij, 2013). Tassal Huon Petuna Product Tassal is selling fresh, frozen, smoked and canned Salmon. In the recent time they have also started selling export quality salmon to the other countries. Huon is selling fresh salmon to the wholesale market. They charge wholesale price for their products in a huge sized market. They are also selling the similar product. Petuna is producing fresh Salmon and Trout. Price Competitive market price. They are generally sold at a retail price to the customers. Scolds at a wholesale price. Generally being sold in bulk quantity. Sold in bulk through their outlet. The hotel, restaurants are the buyers. Place The products are available at the entire leading retail outlet. The products are available at the wholesale stores located in Australia. Products are available in their store located in Australia promotion Using effective promotional techniques in order to attract more customers Using restricted promotional technique Promotional schemes are not given much importance in the current scenario. Recommendations and Conclusion It is important for a brand to develop effective marketing strategies that will help them to grow in an effective manner. It is important for a brand to adopt effective promotional strategies in order to grow. The promotional mechanism plays an important role for the company to grow in an effective manner. The brand needs to give importance to international expansion strategies; in this manner the brand can attain desired results. It is important for a brand to highly look after all the aspects in order to become one of the most recognized brands. In the current atmosphere it is important that the brand has effectively attaining the local and international needs by looking onto the individual market needs. To conclude it is evident that the brand need to develop an effective marketing strategies that will help the brand in attain desired market result. It is necessary that the brand should develop effective growth strategies so that it can develop in an effective way. The report inco rporate she all the effective marketing and planning strategies necessary to grow I an effect6ive manner. Reference Aaker, D.A., Kumar, V. and Day, G.S., 2008.Marketing research. John Wiley Sons. Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2012.Marketing: an introduction. Pearson Prentice-Hall, London. Belz, F.M. and Peattie, K., 2009.Sustainability marketing: A global perspective. Chichester: Wiley. Boone, L.E. and Kurtz, D.L., 2013.Contemporary marketing. Cengage learning. Cateora, P.R., 2008.International Marketing 13E (Sie). 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