The Neptune Gourmet Seafood Marketing Essay

The Neptune Gourmet Seafood Marketing Essay Neptune Gourmet Seafood is the third largest company in North America, it has been initiated 40 years ago. And it is growing rapidly. However, this growth in market demand is still insufficient as compared to the amount of catch the company are able to haul and process daily. As such, excess inventories have been piling up in the warehouses, and turnovers are slower than they ever were. To try to combat this issue, some strategies regarding the pricing of their premium products have been introduced for discussion. Talking about the growth possibilities and the problems that these strategies might encapsulate. Also offering a fresh perspective on the issue of launching a mass-market brand amongst existing premium brands. And give some alternative recommendations to solve the problem of oversupply. COMPANY BACKGROUND Neptune Gourmet Seafood is a $820 million company with its core business lying in providing high quality seafood and seafood-based products to its customers. Neptune is using a freezer trawler with new technologies that allow the vessel to catch and freeze fish in an environmentally sustainable way as these technologies super freeze fish to -70F while the usual is between -10F and -23F, and that retains the original flavor, texture and color of the fish, Neptune also generated approximately 30% of its revenues by selling frozen and processed fish products to United States grocery chains. Neptune had got a premium image among its customers, it had earned a reputation for producing the best seafood with high quality for the past forty years. In the $20 billion fishing industry, Neptune has managed to position itself as one of the top provider of premium seafood products. The company has been one of the best innovators in the art of fishing, with high investments made on developing tech nologies and technical know-how on maintaining the quality of its catches. Neptune also is gaining attention in its focus on environmentally sustainable fishing, in line with its tagline The Best Seafood on the Water Planet. However, the company have been facing some inventory problems due to oversupply, and have been seeking ways to remedy it without jeopardising the companys premium image. BUSINESS COMPETITIVE ENVIRONMENT Analyzing the business competition environment that Neptune operates in, through the porters five forces model Porters Five Forces Model of Competition COMPANYS MARKKETING MIX To identify Neptune target market, the market mix should be analyzed using four Ps model. PROBLEM ANALYSES While Neptune is one of the biggest companies in the market, it faces several challenges and problems in retain its position in the market due to the new technologies that Neptune adopted and ships that have been added to the fleet, Neptune became able to produce a large number of products comparing with the other companies where as the goods inventory shows that the supply of sixty days is twice the normal level and three times what it had been a year ago, and these products more than the targeted segments of Neptune which causing the excess inventory.Some parties believed that this inventory problem would only be temporary, as they relate this sudden influx in supply to the increase in the number of ships that would allow for a more efficient catching and processing of seafood. However, some parties have identified that the problem are not just the highly efficient fishing vessels, but truly lies on the newest amendment to the fishing law, which reduces commercial fishing near the coastal areas. As Neptune now have limited access to the waterways near the coasts, they are reduced to fish further out at sea. And due to the sheer abundance of fishes in this area, it ultimately leads to bigger catches that has ultimately put a strain on their inventory capacity. However, Neptune would have to push to sell off these excess inventories before they turn bad, and not being able to do this could lead to big losses. There are suggestions to reduce supply by stopping the usage of a few of Neptunes fishing vessels. However, having idle profit-making assets is not a very good business idea as the vessels are already sunk costs anyways. Neptune could probably sell off some of these assets but to do that would mean having to get losses from the sale of those vessels. Therefore, there is another suggestion to try to combat this problem of oversupply. Neptune suggests cutting prices of end products drastically to try to entice more buyers. However, there are several concerns surrounding the viability of this price cut. PRICE ANALYSES There are several suggested options by the team of Neptune to solve the excees of the inventory that the company facing, cutting prices is suggested by some but cutting the prices may solve problems in short term, while the overcapacity may stay long with Neptune. There also an issue highlighted in the case which is cutting price may effect negatively to the consumers image that Neptune achieved 40 years ago. After cutting the price consumers would conceive that these Neptune products sold at a lower price could be rotten and it could destroy their brand equity. Another effects of cutting price which may affects the future sales because restaurants and household consumers may buy and stock Neptune products in the period of cutting the prices, so the company will get lower sales in the future and it will consider it as an expense. As well as cutting the prices may lead competitors to reduce their prices too trying to compete with Neptune and after while the price would reach the equilibrium point. So many problems may occur due to cutting the prices the Neptune team has another suggestion which is introducing a new low-price seafood brand to the existing upmarket brand. Introducing this new roduct may lead to the cannibalization of the old premium products. Neptune has successfully positioned its Neptune Gold brand on the high end of the seafood market. Neptune are therefore scared that selling off the same seafood for a lower price under another brand would backfire as consumers could discover that both these offerings quality are at par with each other. Hence, consumers would naturally move towards purchasing the new brand instead of the premium one. Neptune also should consider the reaction of the United States Association of Seafood Processors and Distributors. This new brand by Neptune could be risky and possible to negatively affect their ASPD Gold Seal of approval that have strengthened their reputation for quality all these years retracted. This could further endanger the sales of their existing brands.. SUGGESTIONS TO IMPROVE MASS-MARKET Due to the problems and situation discussed above the idea of improving mass-market is suggested to distribute the excees inventory. It is an excellent idea to give opportunities of growth to Neptune. This strategy to expand their market as opposed to only threatening their currunt offerings, it is also good for the company to come up with something different to this new low-price brand to minimize the negative impact . producing low-price brand to add value to the current market segmentation by supporting the the premium one offered before. It is very important for Neptune to figure out what the consumer really wants from their seafood purchases other than price. Neptune could definitely create an edge over other competitors who are competing in the same price range by promoting the product with a focus on its quality. As a major supplier for seafood products, Neptune has definitely built a name for itself for its quality catches, and they should make sure that this message extends to the new brand as well. Therefore, Neptune could catch the attention of consumers looking for the best quality produce at a much more affordable price range. However, opening a new segment in the market by offering low-priced products will target the consumers who want products at a cheap price and differentiate them with consumers that on the normal market of Neptune. They achieve a competitive advantage over other competitors. In fact, Neptune would probably attract a lot of sales with this new mass-market brand, even with the stiff compe tition with other low-priced suppliers, as customers would assume that they could get the same value proposition delivered by Neptune with their Gold line, but at a cheaper price. This suggestion will reduce cannibalization by differentiate targeted segments, Neptune should retain its revenue from the premium offerings to restaurants and eatiers. CONCLUSION While Neptunes customers are loyal to the company to go back and repurchase its products and their demands are still continuously climbing, Neptune is still using its expertise and technologies to satisfy its customers and keep competitive in the premium seafood market.However, because of its new investment in new shipping vessels, top-quality supplies have also been climbing. However, this increase is not matched by a proportional increase in demand. As such, inventories turnovers have become slower and Neptune runs the risk of having these inventories turning bad in storage. Neptune team has come up with the strategy of slashing their offerings by half, and that is followed by the strategy to open a new mass-market brand. However, both suggestions have certain underlying problems connected to its implementation. But going through a new market segment is highly viewd as an opportunity instead of a threat for long run. As a conclusion, Neptune needs to lunch mass-market brand to solve the excees of the inventory as well as being the best in growth prospect to revive its position in the seafood market. RECOMMENDATIONS Some recommendations to Neptune to sustain its position as market leader and increase its market share through introducing a mass-market brand and implementing some strategies. To expand its offering giographically and open new market outside United States and importing seafood products. This strategy will lead the demand to rise up quickly to follow the rising of supply, so Neptune will solve the oversupply once the margin of demand increases. Neptune sould introduce promotions of its products to definite increases in environmental awareness, to encourage its customers to repurchase and then will get more profit As of currently, about two-thirds of Neptunes total revenue comes from sales made to restaurants, cruise ships and eateries. growing its consumer franchise is recommended as well. Neptune thus should try to collaborate with local supermarkets and grocers nationwide in order to let customers have access to these premium products easier. These recommendations to solve the problem of the excees of the inventory, also to help Neptune to be the leader of the market internationally and the biggest supplier of seafood products. Hisham Turban Marketing Management

My Most Embarrassing Moment

My Most Embarrassing Moment Some things are easier to remember, than to forget. I can remember my most embarrassing moment as if it happened yesterday. I’ve tried to forget about this moment all my life, but it just never goes away. I can think back to that day and just laugh. I was nine years old, and I was attending elementary school. I was starting my fourth grade year with no friends. I was a quiet and shy person, so I never hung out with the other kids. After a few months I manage to make friends and wasn’t so shy anymore, until one day. It was Monday December 10, 1999. Like any other day I got up and ready for school.I notice that it was very cold outside, so I asked my mom to drop me off at school. On my arrival, I immediately entered the school and went downstairs to the cafeteria, where I met with some of my classmates. Time passed by and the first bell ran and everyone including myself started heading upstairs to homeroom. My homeroom was on the 4th floor. I u sed to hate this because by the time I would get to the 4th floor, I would be tired and running out of breath. While trying to my catch breath, I had to walk all the way down this long hallway, just to get to my classroom, which was room 313.I finally got there, and immediately went inside the classroom, and said â€Å"hi† to my teacher Miss. Fitzgerald. I sat down in my assign seat, which was the first seat on the second row. As we were waiting for the rest of the class to come in, my friend Raul, who was sitting behind me said â€Å"hi. † He usually didn’t talk to me, because I was too shy. And I didn’t talk to him, because he was consider the cutes boy in my class, who every girl used to like. But to me he was just like any other boy who pretended to be a young Justin Timberlake, but with no fame. We exchanged a few words and then the teacher begun to lecture.Hours when by and it was finally time for lunch. After forming a line, we started to go downst airs to the cafeteria. As we went down, I started to smell the food, which that day we were having pizza. It smelled like juicy cheese melting down in warm tomato sauce! I couldn’t wait to sit and eat. Shortly after that, it was time to return to class. Once again, we made a line and headed upstairs. As we got to the fourth floor, I felt someone touch my butt. I turn around quickly to figure out who had touched me inappropriately and the only person I saw behind me was my friend Raul.I didn’t know what to do, my heart was pumping like if I had just gotten chase by zombies. I was so scared that I started to cry. Everyone gazed at me, wondering what was wrong. In the meantime, my teacher Miss. Fitzgerald kept asking me in a loud tone of voice, â€Å"What is the problem Coyna? † I didn’t want to answer her in front of the whole class. She then kept asking me the same question in louder tone of voice. I had no choice, but to tell her out loud, â€Å"Raul tou ched my butt! † At the moment, my body went numb. My face turned red as a strawberry.I was so embarrass because no one has ever touched me like that before. Everyone kept looking at me with eagle eyes, as if I was their prey hunt. In my mind I just keep saying â€Å"oh my god why did this happened to me and why are all eyes on me†. I felt so uncomfortable that I wanted to hide under a rock and not come out in years. We finally got to the classroom where Miss. Fitzgerald ordered the rest of the class to go inside. She then asked Raul if what I was saying was true, and Raul denied everything making me look like a liar. Consequently, the teacher didn’t do anything but give Raul a warning.Afterward, I felt very embarrass and didn’t talk to anybody for a whole week, including the teacher. Finally, every time I think about this experience in Elementary School I can’t help myself but to laugh. I was only nine years old in the fourth grade, who would had th ought that something like this could had happen to me. It was not a pleasant situation; I just wish I was matured enough to handle it differently. However, I was fortunate enough to learn from such experience, even though I am still embarrassed about that day. Just remember that what happens unexpectedly stays forever as a memory.

Online Learning: The APUS Way

Today’s generation is one where competition in the workforce is stiff and where academic degrees oftentimes put an individual a cut above the rest. The constantly changing employment opportunities and work requirements push people to use whatever available resources they have just to gain the upper hand from a flock of aspiring applicants for several job positions.Experience and education can come in handy during rare occasions when good employment opportunities come knocking at one’s door. That is especially true in today’s time where America is facing one of the most troubling economic crises in history, a crisis which is spreading in the different parts of the world and, thus, causing job losses on a massive scale (Landler, 2008).I am attending college so that I can be able to harvest the rewards of having an academic degree aside from experience that I already have. While APUS is something entirely new on my part, I think of my situation as a chance to broade n my horizons. I think of my future experiences in APUS as events in my life that can help enlighten my understanding of the world and the ways to handle ordinary to complex situations in this modern time.I think of myself as a child eager to learn and comprehend the things that are yet to be known. What greater source of delight, satisfaction and wonder can there be than a learning institution willing to teach individuals the things that matter to them in this highly competitive world?In the coming months, I hope to gain new insights with regard to my chosen field. This is a point in my life where I am more than willing and more open than ever before to new knowledge. Part of my hopes also include my desire to communicate with other people more effectively because I view human interaction through whatever means necessary as an indispensable tool in shaping the course of our lives.The person living in deep isolation and allergic towards new information can only go as far as the limi ts of his shallow understanding of the world. Like the prisoners in Plato’s cave allegory, people should step out of their comfort zones and explore the world filled with new knowledge that need to be learned (Kanazawa, 2003). Through APUS, I am anticipating personal discoveries that I never knew are parcels of who I am.Of course, the answer to the question of who I am roughly depends in context. Nevertheless, I know myself as a person who is computer literate and who is able to easily grasp the many different sides to modern technology.Studying in a technological age will require some of the interests which I hold—my interests in the usefulness of the internet, in the advantages made possible by online learning and in the benefits of acquiring a degree that other people can hardly attain. Gone are the days of typewriters and snail mail; this is the age of information technology, and what better thing to do than to seek the best information through the modern learning tools provided by APUS.In order to be successful in my academic endeavor in APUS, I have to maintain my high level of interest apart from the fact that I need to keep-up with the pace of online learning. Since distance is no longer a critical issue in online learning, all I need to do to further attain my personal success with my academic pursuit is to allocate time and resources to my new experiences in APUS.Like any other task, my studies in APUS will certainly involve several challenges along the way. One challenge is the idea that I may face certain learning modules that I barely know which I am prompted to familiarize myself with. Despite such challenge, I know that I can overcome that ordeal because I will not let my drive to learn to reach a low point. Unfamiliar lessons and modules may come in my way, but these things are just forks in the road which I need to accept as parts of the learning process.ReferencesKanazawa, S. (2003). Reading Shadows in Plato's Cave Wall. America n Sociological Review, 68(1), 160.Landler, M. (2008). The U.S. Financial Crisis Is Spreading to Europe.  Ã‚   Retrieved February 2, 2009, from http://www.nytimes.com/2008/10/01/business/worldbusiness/01global.html?_r=1&scp=8&sq=financial%20crisis&st=cse

Using material from Item C and elsewhere, assess the view...

Using material from Item C and elsewhere, assess the view that the mass media represent young people as a problem group (18 marks) Different age groups tend to be represented in different ways in the mass media. Children (up to the age of about 14) are often presented as consumers of toys and games, are generally presented in a positive light. However, the youth (from around the age of 15 to the early 20’s) are often portrayed as a ‘problem group’ in society, and as a major source of anti-social behaviour, particularly youth working-class, and especially African Caribbean, males. This is highlighted in Item C as it is encouraging the idea that the youth are being portrayed as a source of a lot of problems and crime in today’s society.†¦show more content†¦There are generally two very broad ways in which young people have been targeted and portrayed by the media in Britain. There is a whole media industry aimed at socially constructed youth in terms of lifestyle and identity. Magazines are produced specifically for young people. Record companies, Internet music download sites, mobile telephone companies and radio stations all specifically target and attempt to shape musical tastes of young people. Networking sites on the internet, such as Facebook, Bebo and MySpace, allow youth to project their identities around the world. Youth are often portrayed by news media as a social problem, as immoral or anti-authority and consequently as folk devils as part of a moral panic. The majority of moral panics since the 1950’s have been manufactured around concerns about young people’s behaviour, such as their membership of specific ‘deviant’ subcultures (e.g. teddy boys, hoodies) or because their behaviour (e.g. drug taking or binge drinking) has attracted the disapproval of those in authority. Wayne et al. (2008) conducted a content analysis of 2130 news items across all the main television channels during May 2006. 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