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    Marketing Plan for Product in Australia

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    For this project, choose a product that is currently available in the country you live in and you want to market in another country. Using the cybrary, the Internet and your text you will need to develop a portion of the strategic marketing plan that includes the following:

    Briefly explain the country in which you have chosen to market the product and why you selected that country. I chose Australia.

    The product I selected is fish and seafood. The types of fish and seafood that I will sell to Austrian markets are more expensive types of fish and seafood such as shrimp, lobster, yellow fin tuna, scallops and swordfish. My research indicated that fish and seafood are growing in demand in Austria for the following reasons: 1) consumers are more health conscience and fish is considered a healthier meat alternative, 2) consumers in Australia have increasingly more money to spend and 3) Austrian restaurants have been offering more seafood on their menus resulting in Austrians wanting to cook fish/seafood at home. Australia is landlocked country that doesn't have its own fish and seafood. The consumption of fish and seafood is growing.

    A marketing mix and a competitive advantage for the product.

    A pricing strategy, a price, and a rationale explaining the price of each of your products. Remember to consider turnover, competition, and elasticity of demand in your strategy.

    A media strategy for marketing the product including an image and position to be developed, types of promotion to be used, and media to be used. Remember to specify the advantages of the chosen media, frequency, and continuity to be used.

    For questions 2,3 and 4, explain how these will be similar or different from the current strategies that are being used in your home country and why there are similarities or differences.

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    Solution Preview

    Please see response attached (also presented below), as well as one supporting document. I hope this helps and take care.

    RESPONSE:

    Hi,

    Interesting choice. I wrote a lot so keep what fits for you. This is not exhaustive, but provides enough information to tweak to your own ideas and research.

    Let's take a closer look.

    1. Case Scenario:

    I chose Australia. The product I selected is fish and seafood. The types of fish and seafood that I will sell to Austrian markets are more expensive types of fish and seafood such as shrimp, lobster, yellow fin tuna, scallops and swordfish. My research indicated that fish and seafood are growing in demand in Austria for the following reasons: 1) consumers are more health conscience and fish is considered a healthier meat alternative, 2) consumers in Austria have increasingly more money to spend and 3) Austrian restaurants have been offering more seafood on their menus resulting in Austrians wanting to cook fish/seafood at home. Australia is landlocked country that doesn?t have its own fish and seafood. The consumption of fish and seafood is growing.

    Excellent starting point! Good for you!

    2: A marketing mix and a competitive advantage for the product.

    The Competition

    There are other companies in the Australia that sell seafood at similar prices. Although this presents an obvious challenge in terms of market share, it also indicates the presence of a large, strong potential. The newest competitors have made their successful entry based on an innovative concept or novelty. YourCompany will offer an innovative product in at a competitive price; however, your product will have quality advantage - more expensive types of fish and seafood such as shrimp, lobster, yellow fin tuna, scallops and swordfish. Our aggressive plans of offering more expensive types of fish also give us an advantage to create a good market share before the competition can adjust or similar concepts appear.
    As mentioned above, as fish and seafood remains fish and seafood are growing in demand as Australia?s most popular healthier protein alternative to meat, it?s not surprising that competition in the fish and seafood product segment of the market sector is ripe. YourCompany would stay ahead of the competition through regular surveys to determine exactly what the customers want.

    Competitive Strategy

    There are three major ways in which we will create an advantage over the competitors:
    ? Product identity, quality, and novelty
    ? Innovative and aggressive product options.

    Once the customers have tried the menu of fish and seafood at restaurants and other distributors, their experience will be reinforced by the quality of the product. Return and repeat business will be facilitated by accessible take-out and delivery options from various locations. Some of the competitor?s offer the same; however, few offer the more expensive types of fish and seafood such as shrimp, lobster, yellow fin tuna, scallops and swordfish. This gives the company differential competitive advantage.

    Growing health awareness is on the rise in Australia. In fact, in many countries, the figures show that people are becoming increasingly aware of their diet, and that attitudes are changing. In Canada, a third of people (34%) say that they 'feel guilty when [they] eat junk food', and two thirds (66%) agree with the statement 'I really should try to eat foods that are better for me'. In Britain, the percentage of people who say that they 'always think of the calories' in what they eat has increased by 23% over the past five years and those who agree that 'fast food is all junk' has increased by 18% over the same time period. Choosing global markets where the popularity of fish and seafood is on the rise, as well as in a country that is landlocked country that doesn?t have its own fish and seafood and where the consumption of fish and seafood is growing, gives YourCompany leverage and possibly competitor advantage over the next five years in Australia.

    3: A pricing strategy, a price, and a rationale explaining the price of ...

    Solution Summary

    Based on selling fish and seafood products in Australia, this solution explains a marketing mix and a competitive advantage for the product through an illustrative example. As well, it explains a pricing strategy, a price, and a rationale explaining the price of each of your products. It then explains a media strategy for marketing the product including an image and position to be developed and the types of promotion and media to be used. Supplemented with a highly relevant article on the image and value of seafood as a product.

    $2.19