Strategic Marketing Plan for Cosmeceutical Brand

This assignment requires students to develop a strategic marketing plan for a fictional cosmeceutical brand. The plan should include a thorough analysis of the cosmeceuticals market, identifying trends, opportunities, and challenges. Students must conduct a SWOT analysis, analyze competitors, and propose a comprehensive marketing mix strategy encompassing product, price, promotion, and distribution. The assignment emphasizes the application of strategic marketing principles to a specific industry context.

Running Head: Food marketing
Global seafood distributors Australia pty. ltd.
Food Marketing

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Executive Summary
Under this report, marketing strategy of the Joto Fresh Fish will be discussed, this is a seafood
product and from recent years, its demand in the Australian and in the international markets has
been decreasing continuously. Global Seafood Distributors Australia Pty Ltd. is the largest
exporter of seafood products in the Australia as well as in the international markets. They deal in
varieties of seafood products such as Australian prawns, Australian Sardine Fish, etc. The
elements of the marketing strategies will be covered under this report in order to cover the
marketing strategies in relevance with the Joto fresh fish. Marketing mix technique, target
market segmentation, and other elements of the marketing analysis will be covered in order to
analyse the situation of the market share of the Joto fresh fish in the target market. As this
product is quite underperforming in the Australian as well as in the international markets too, to
enhance the market share of this particular product in the domestic as well as in international
market, Global Seafood distributors have planned to adopt some effective strategies in order to
boost up the market presence of the Joto Fresh Fish.

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Table of Contents
Executive Summary.........................................................................................................................1
Background of industry and product...............................................................................................3
Customer Behaviour and Market Segmentation..............................................................................4
Selection of the Target Market.....................................................................................................4
Consumer Decision making process............................................................................................5
Marketing Mix.................................................................................................................................6
Integrated marketing mix.............................................................................................................6
Branding Strategy............................................................................................................................7
Marketing Activities........................................................................................................................8
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

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Background of industry and product
Seafood industry is being an important element from the perceptive of the GDP for Australia as
contribution from this industry towards the GDP is quite equivalent to the contribution made by
the agricultural sector. The contribution of the seafood industry could be determined by
comparing the contribution of the agricultural sector and the seafood industry. Seafood industry
had contributed $24 million which is quite near to the contribution made by the agricultural
sector in 2008. In relevance with the management of the seafood industry, Australian
government has developed certain authorities to regulate this industry. For managing the
activities in the national water, Australian Fisheries Management Authority is responsible
whereas to control the activities in the local and domestic waters, state level agencies are held
responsible. While evaluating the background of the Joto Fresh Fish and its market share in the
target market, it was evaluated that it was the favourite breakfast item for the Australian people
as it has potential minerals and vitamins which are quite effective in order to start the day with its
consumption. Global Seafood Distributors Australia Pty. Ltd. has also offered home delivery
option in order to provide fresh Joto Fresh Fish at their doorstep. But after introduction of Joto
Fresh Fish’s alternatives in the target market, market share of this product is being decreasing at
rapid rate. Under this report, various marketing strategies and the techniques will be discussed
which will help the organization to enhance its market share in the domestic as well as in the
international market.

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Customer Behaviour and Market Segmentation
Geographic: Under this type of segmentation procedure, Global Seafood Distributors needs to
select their preferred market as per the area, locality, etc. That market will be targeted in which
consumption of seafood industry is quite high relevant to the other areas of the particular place.
This will help the organization to enhance the demand of the Joto Fresh Fish as per the
expectations set by the management of the organization (Mohammed, Rashid & Tahir, 2014).
Demographic: This type of segmentation will help the organization to promote Joto Fresh Fish
in the audience as per their income, age, etc. As this product is not much expensive, hence;
normal income group people could also afford this.
Psychographic: Audience is being targeted on their values, lifestyles as well as on the basis of
personalities of the people. Non-vegetarian group of people and the people who like seafood will
be targeted in this type of segmentation process. This will help the organization to generate the
demand of the Joto Fresh Fish which will ultimately affect the revenues of the organization
(Klein, 2016).
Behavioural: As per the behaviour of the audience, organization needs to adopt this type of
strategy for the purpose of targeting and the segmentation. This will help the consumers to
enhance the demand of the products as well as the lost position in the seafood industry;
organization will be able to regain that.

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Selection of the Target Market
Target market should be selected on certain basis such as with the help of market research
activities, outcomes generated from the market segmentation procedures, etc. Apart from this,
organization could also use following criteria in order to justify the market selection procedure:
Identifiable: The target market selection could be justified using this technique as under this
technique, organization needs to evaluate the selected market which should be relevant in some
manner. The audience which is more curious about the Joto Fresh Fish and the non-vegetarian
group of audience could be targeted for the purpose of promoting the product in the target
market.
Measurable: These criteria could be used in order to compare the last year’s figures in terms of
consumption of the Joto Fresh Fish in the target market. This can provide an overview to the
organization in terms of enhancing the market share of the product (Kim & Hyun, 2011).
Sustainable: This process defines that the product should only be promoted when chances of
enhancement in the demand and market share could be determined. If organization is not able to
generate the demand of the Joto fresh fish in the target audience, promotional strategies will be
useless and it will not result in enhancing the demand of the product.
Reachable: The selected target market should be accessible so that the audience of the particular
market could be reachable through the mediums of distribution and the communication. Global
Seafood Distributors needs to determine this strategy and the market will only be selected if the
audience of the particular market would be easily reachable (Johnston & Bate, 2013).

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Actionable: Using this criteria for the purpose of the selecting the appropriate market for the
motive of enhancing the demand of the product. Under this process, target market’s segments
must be capable enough so that marketing mix technique could be implemented easily.
From the perspective of the Global Seafood Distributors and the decreasing demand of the Joto
Fresh Fish in the target market, organization can consider the actionable as well as the
identifiable approach for selecting the adequate target market.
Consumer Decision making process
Consumer decision making process includes various crucial steps such as information search,
need recognition, evaluations of alternatives, purchase as well as post-purchase behaviours.
Organization could the sequence of these steps as per the requirement of the situation and these
are quite effective as well. In order to influence the targeted audience towards the particular
product, organization needs to develop effective as well as adequate communication strategies
through which appropriate information in relevance with the product and the organization could
be provided. With the help of these strategies, organization could also spread awareness in
relevance with the seafood products amongst the public (Helms & Nixon, 2010).

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Marketing Mix
It is a marketing technique which is used to promote the particular product, business, etc. in the
target market. Under this technique, specialities of the products are described in order to
influence the targeted public towards the public. Following are some of the elements of the
marketing mix technique:
Product: This process includes the promotion of the attractive and specialised features of the
product. As Joto Fresh Fish has adequate amount of vitamins and protein which could enhance
the efficiency and the immunity system of the people which will help them to deal with various
diseases (Gregor & Hevner, 2013).
Price: Price of Joto Fresh Fish is cheap enough which could be afforded by any class of people.
As this product’s demand has been declining since a long period of time, hence; adaptation of
certain effective pricing strategies will also help the organization to enhance the demand of the
product as well as to enhance the market share of the organization in the target market (Greer &
Ferguson, 2011).
Place: This factor has the potential which could enhance the demand of the particular product.
Global Seafood Distributors needs to concentrate on this factor and the availability of the Joto
Fresh Fish should be made available to all the nearest stores. This will help the people to get the
product from their nearby stores as well as restaurants should also be targeted. Large number of
audience used to visit restaurants and availability of Joto Fresh Fish at these places will lead to
enhancement in the demand of the product (Fischer, et. al., 2011).

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Promotion: Promotion of Joto Fresh Fish could be done with the help of print medium and with
the help of digital medium platforms. As it is a consumable product, hence; for promotion of the
Joto Fresh Fish, organization could use the combination of the most effective strategies in order
to enhance the demand as well as to enhance the market share in the target market (Czepiel &
Kerin, 2012).
Integrated marketing mix
Integrated marketing mix is the technique which includes integrated marketing and
communication channels. With the help of this medium, organization can reach to its targeted
audience in an effective manner. Mediums such as digital platforms, social media, sales
promotional techniques, etc. are some of the elements of integrated marketing mix technique.
Product’s features and the other information in relevance with the product could be provided to
the consumers with the help of these mediums in an appropriate manner (Cornelissen &
Cornelissen, 2017).

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Branding Strategy
At certain point of time, Joto Fresh Fish was the favourite option for Australian and for other
countries in breakfast meal. It has adequate quantity of minerals and the proteins which could
help the people to start their day and it also provides adequate level of strength to the public to
deal with various diseases. But with the introduction of varieties of breakfast meals, demand of
the Joto Fresh Fish gets declined. In order to gain the lost market share, Global Seafood
Distributors have decided to implement branding strategy for the purpose of enhancing the
demand of the Joto Fresh Fish in the target market (Brandt, Cazzaniga & Hann, 2011).
In terms of brand development, organization needs to develop certain goals, strategies, etc. This
is the procedure which takes an adequate amount of time and short-cuts, etc. should be avoided
as these strategies could decrease the value of the product. Strategies such as taking feedbacks
from the customers, applying them in the workplace, providing adequate qualitative products to
the consumers, etc. should be used for the purpose of development of brand in the target market
(Armstrong, et. al., 2015).

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Marketing Activities
With the help of marketing activities, organization could break the consumer’s daily routine and
they can also influence them towards the other products. Product placement, pricing strategies,
labelling and the packaging are some of the common strategies which could be used for breaking
the consumer’s daily routine of consumption of same type of product. Australian seafood
industry’s market is decreasing rapidly and Joto Fresh Fish is the product which is quite
underperforming in relevance with the other items of the seafood industry (Angeloska-
Dichovska & Mirchevska, 2017). Development of attractive packaging, pasting attractive labels,
decreasing price etc. are certain strategies which could be used for the purpose of enhancing the
demand of the product in the target market. Following are certain components of marketing
strategies:
Packaging and Labelling: This is a crucial step of the marketing activities which is also used to
promote the existing product in the target market for the purpose of enhancing the demand.
Organization could make the packaging of the product attractive in order to enhance the demand
of the product in the target market (Ang, Benischke & Doh, 2015).
Merchandising: This is the strategy which used to promote the product through displaying the
product using visual displays, packaging, pricing, product designing, etc. Apart from this,
organization could also use discounts and offers for influencing the people towards the product
(Akaka, Vargo & Lusch, 2013).
Marketing Collateral: For enhancing the demand of the product, organization could also use
media strategies in terms of promoting the sales. Tag lines, special quotes are certain mediums

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through which organization could boost up their sales and these strategies are capable enough to
develop balance between the information and the promotional content for extracting adequate
outcomes (Aaker , 2010).

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Conclusion
It can be concluded that Joto Fresh Fish is an impressive item in the seafood industry but due to
continues decrement in the demand of this product; organization has used marketing strategies
for promoting the product and to regain the market share of the seafood industry. In this manner,
various strategies such as consumer behaviour, selection of the target market, marketing mix
technique and the branding strategies were used for enhancing the demand of the product in the
target market.

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Cornelissen, J., & Cornelissen, J. P. 2017, Corporate Communication: A Guide To Theory
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