FISH FARMING MARKETING PLAN SAMPLE
Fish farming which has become a very lucrative venture due to the dwindling fish reserve in their natural habitat is big business.
Knowing all the techniques of fish production is not enough in itself, as a fish farming marketing plan has to be drafted in order to strategize for effective distribution of products.
Without effective distribution mechanisms put in place, business is not complete, as business is only concluded only when the products reach their final destination (reaching the consumer).
EFFECTIVE FISH MARKETING STRATEGIES
This article will focus on the fish farming marketing plan, exposing the procedures for developing a sound and effective marketing plan that has the capacity of impacting sales considerably. There are basic components every fish farming marketing plan should contain. Without these, the marketing plan is not complete and will not make the desired impact on sales. We begin with the following;
Value addition in any business is very important. By the creation of value, it means the products offered are unique and offer better incentive to the consumer. Branding is an important component here. The target market is informed about the uniqueness of the fish product, and an important health benefit or otherwise of the fish products highlighted. This is where the edge of the business venture is projected, making it attractive to consumers.
Every fish marketing plan should contain/project the edge the fish products have over other available fish products. Under this component of fish farming marketing, perception is everything. Being perceived favourably by the target market can impact sales positively.
Careful Study of Competitors
There are a lot of competing fish farming businesses offering similar services. Therefore, to stay afloat, a good knowledge of your competition is necessary. Having an in-depth understanding of the dynamics of their operations, in addition to who their products are targeted at can be used as an important factor for putting in place an effective fish farming marketing plan.
The weaknesses, as well as the strengths of your competition are an important starting point for a marketing plan. Improving on the weaknesses of your competition can be an effective strategy for driving sales.
The implementation of a fish farming marketing plan requires capital. However, the commitment of capital into the marketing process requires a budget that covers the average expenditures to be incurred. All the marketing activities should be contained within this budget, and only when two things happen; first, when there are visible results (positive outcome) or in other words, an impressive Return on Investments (ROI). The other is when there are no visible results which require re-strategising.
The Target Market
For every fish farming marketing plan, the target market largely impacts sales in a profound way. Having a clear knowledge of the target market can make the difference between a thriving fish farming business and a fish farming business experiencing low sales. Also, the spread of your target market is an important consideration to make. For fish product consumers who are quite far from the farm, refrigerated delivery trucks are required to aid the product reach its destination when still fresh.
The more understanding gotten about the target market, the better the potential for increased sales. Customer behaviour can form an important basis for strengthening the capacity of the business to offer better services. All this is subsumed under the fish farming marketing plan.
For every fish farming marketing plan, product pricing is an important component. Developing a product pricing strategy which allows a healthy margin for profits is very important. However, still providing the customer with these products at affordable rates is the key to successfully marketing the products. The adoption of the right pricing significantly impacts the fish farming marketing plan, resulting in an effective plan.
Without a good market research, a fish farming marketing plan would at best be ineffective and poor with the ability to make little to no impact on sales. Therefore conducting an extensive marketing research in the field of marketing is absolutely necessary is the business is to make any real impact. Although consumption of fish products is widespread, a marketing research is still important as it helps to understand basic components of the business that guides the business to achieving increased sales.
A good fish farming marketing plan contains a marketing strategy which guides the business into profitability.
Already, there are other providers of similar services that range from the large scale fish farmers to the small scale farmers. To gain a fairs share of the market size, it is necessary that the right marketing strategies be adopted to penetrate the market. Without a marketing strategy, a fish farming marketing plan will be incomplete, thereby, making little to no impact on the business.
Any good fish farming marketing plan requires the presence of all of the above components if it must make real impact on the business. As the name suggests, planning is an important component of any worthwhile venture, and without this, there is no meaningful progress, as the business will be run in a haphazard manner without a clear vision of where it is headed.
Implementing the above steps in writing a fish farming marketing plan can significantly impact the fortunes of a business, setting it on the path of real growth.