International Marketing Plan of Tuna Boat Owners Association.

Project Description

 

International Marketing Plan

 

of

 

Tuna Boat Owners Association

 

 

 

 

 

 

BY

 

 

Name

 

code

 

TBS 982 Marketing in a Global Economy

 

 

Master of International Business

 

 

Date

 

Executive Summary

Tuna Boat Owners Association which is now called as Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA) through thorough research have developed a successful Tuna fish export and canning industry. Australia produces lots of Tuna fish through huge fish farms. Production is enough for home use and for exports. Australia exports a huge amount of Tuna fish to Thailand where it is canned and exported to other countries. Business ventures are better managed and developed in Australia while labor force is cheaper in Thailand. Getting the canning done in Thailand by exporting Tuna to Thailand from Australia is financially viable thus.

 

The research has highlighted that Tuna fish export to Thailand is common from all surrounding countries. There are many reasons for this import by Thailand but the most important factor as discussed in the report is flourishing canning industry in Thailand which is in turn dependent on the cheap labor force availability in Thailand. Australian continent’s neighboring seas are rich in Tuna. All Far East and South East Asian countries have high consumption of sea and it is only logical that one of those countries has emerged as the canning centre of such fish. Also, the research paper discusses that Australia has huge exports of Tuna fish, which the association under study also takes part in. With huge production of Tuna in Australia and cheap labor force in Thailand resulting in an efficient and cheap canning industry, this association has a great chance of success in future as well.

 

This research paper will discuss in detail the strengths, weaknesses, opportunities and threats for Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA). Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA) has a huge target market as Fish is the favorite food in most of South East Asia. Fish is eaten in all parts of the world and Tuna fish is world’s favorite. This paper will put some light of the segment Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA) has targeted and the marketing opportunity this association has.

 

There is no denying this fact that there is a huge potential of future business success for this association. The list of strengths and opportunities discussed are a clear proof of it. With the ever increasing demand of Bluefin Tuna and uninterrupted supply of the same by this association, a long term profitable and reliable business venture remains highly probable.

 

A critical analysis of the existing situation which Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA) is facing, study of recommended strategies and solutions and a sales forecast is also presented with conclusive remarks. Looking at the future of business world, it is very important that right kind of business strategies are opted by the companies that have an interest in long term business. Same is the case with Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA). The recommendations can be useful in achieving future success. This research paper will provide all this discussion in a nutshell in the conclusion section.

 

 

Table of Contents

Executive Summary………………………………………………………………………………………………………………….2

1. Introduction………………………………………………………………………………………………………………………….6

2. Background Information………………………….………………………………………………………………………….6

2.1 Tuna industry in Australia…………………………………….……………………………………………………….6

2.2 Country Description of Thailand……………………………………………….…………………………………..7

3. Situation Analysis…………………………………………………………………………………………………………………7

3.1 PEST Analysis (Macro-Environmental Information)……….……….……………………………………7

3.1.1 Political and legal system……………………………………………………….………………………………8

3.1.2 Economic situation and trends…………………………….………………….……………………………10

3.1.3 Social/Cultural factors…………………………………………………………………………………………11

3.1.4 Technological Factors…………………………….………………………………………………….…………12

3.2 Porter’s Five Forces Analysis (Industry Shaping Forces)……….……….……………………………12

3.2.1 Power of buyers……………………………………………………….…………………………………….….…12

3.2.2 Threat of new entrants…………………………….………………….…………………………..……………13

3.2.3 Threat of substitute products…………………………………………………………………………………13

3.2.4 Level of industry rivalry…………………………………………………………………………….…………13

3.3 SWOT Analysis (Firm compared to competitors)…………………………………….………..…………14

3.3.1 Strengths……………………………………………………………………………………..………….……………15

3.3.2 Weakness……………………………………………………………………………………………………15

3.3.3 Opportunities………………………………………………………………………………………………16

3.3.4 Threats……………………………………………………………………………………………………….16

3.3.5 SWOT Summary Table…………………………………………………………………………………17

4. Marketing Opportunity Analysis……………………………………………………………………………….18

5. Target Market Segment…………………………………………………………………………………………….19

6. Critical Analysis………………………………………………………………………………………………………..20

7. Recommended Strategies…………………………………………………………………………………………..22

7.1 Mode of Market Entry and Justification…………………………………………….22

7.2 Positioning Strategy and Marketing Objectives……………………………………..22

7.3 Porter’s competitive forces and Marketing Mix…………………………………….22

8. Sales Forecast……………………………………………………………………………………………………………23

9. Conclusion………………………………………………………………………………………………………………..24

References……………………………………………………………………………………………………………………25

Bibliography………………………………………………………………………………………………………………..27

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Introduction

The Tuna Boat Owners Association of Australia was changed into Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA). This association has developed a collaborative research and development system with the help of South Australian Government and the Japanese Overseas Fishery Cooperation Foundation. The success of these and other ventures led to the development of 12 private aquaculture companies in this industry. Almost 2000 or more people are employed in these companies generating $300 million or more exports. The growth increased by 2010 and touched a milestone of $600 million. The funding by the Fisheries Research and Development Corporation has helped the funding process for the research and development program of the association thus helping in the sustainability and growth of the association in terms of exports and local market share as well (Allan, et. al. 2010).

 

2. Background Information

2.1 Tuna industry in Australia

The farming of tuna in Australia has become one of the most lucrative and valuable sector of aquaculture industry. This industry is open to only those who hold the expertise to catch tuna along with equipment and necessary farm lease sites. The companies that wish to become part of this industry must have the part of Australian quota as well. To ensure the successful tuna aquaculture, such conditions have been launched as it would allow only such people as tuna fishers. Long term license security and access lease of the aquaculture sites is the precondition for successful tuna business. The production of tuna has increased in Australian industry significantly which has increased the chances of increased growth in the future and sustainability. From economic point of view, tuna farming industry is providing indirect and direct benefits to Australian economy through its turnover along with providing employment opportunities as well (Allan, et. al. 2010). Australian tuna is exclusively exported to Japanese sashimi markets but Australia is looking forward to other markets as well like United States. The real time response has been great in the tuna fish export which has encouraged the product development and diversification in the future (Baye, 2005).

 

2.2 Country Description of Thailand

Thailand is located at the center of Southeast Asia and Indochina peninsula. The maritime boundaries of this country include Indonesia and India in the AndamanSea and Vietnam in the Gulf of Thailand. The constitutional monarchy includes king as the official Head of States, armed forces, defender of all faiths and upholder of Buddhism. Thailand is considered as the emerging economy and a newly industrialized country with ample opportunities of investment and stable business as well. The exports of Thailand add valuable amount in the overall economy. The major exports of Thailand are Thai rice, footwear, textiles, rubber, fishery products, cars, jewelry, electrical appliances, computer and well developed tuna fish canning industry. Thailand exports major portion of tuna by canning it as the local people are not so fond of eating tuna. Thailand is the major supplier of canned tuna fish approximating 750,000 tones of tuna export every year (Allan, et. al. 2010).

 

3. Situation Analysis

3.1 PEST Analysis (Macro-Environmental Information)

For an economically sustainable tuna industry, it has to manage the demand and supply of tuna fish. The demand and supply factors should match to signify the effective and efficient business along with providing competitive returns and competitive incomes to people earning livings from this industry. In addition, market leadership and good management is also required for a successful tuna business. Success also depends on how effectively and diligently the companies take into consideration aspects like political and legal, economic situation and trends, social and cultural aspects and technological factors. The history of tuna market shows how drastically and dramatically the tuna stocks and tuna fisheries changed in the last 30 years. PEST analysis is the tool that can help in evaluation of different aspect mentioned above. This tool will help scan the environmental factors that are required in strategic management (Allan, et. al. 2010). The Tuna Boat Owners’ Association in South Australia is targeting Thailand for Skipjack’s export for canning. How the local political and environmental factors along with factors residing in target market are going to affect the business, here is PEST analysis to help understand.

 

3.1.1 Political and legal factors

Political system in Australia is dependent on the parliamentary democracy framework. The electoral process is appropriate for two-party system. Freedom of speech, tolerance for religious values and association is the binding force of Australian successful democratic system. Julia Eileen Gillard is the present Prime Minister of Australia in office since June 2010. There are no signs of any political change in the coming years. As compared to Australia, Thailand is ruled by the king who is the head of state. As of now, the ninth king is ruling Thailand since 1946 making him the longest reigning monarch in Thai history. Due to political unrest in countries where the rules have been in power for long time are revolutionizing which raises some uncertainty in the political situation of Thailand for now (Allan, et. al. 2010).

 

In Australia, the Skipjack tuna fish or any tuna fish availability depends on the access to license security and lease of the aquaculture sites. The access is given as per the Australian quota along with the presence of necessary expertise and equipment to catch tuna. Most of the product is sold in the frozen form under the contract arrangement at lower prices than the fresh fish. As for Thailand, the tuna industry is oligopolistic where the price leaders are the dominant firms while the smaller companies are the price takers. The supporting industries like cold storage, ports, shipping, logistic and packaging etc are the strengths of Thailand’s tuna market competitiveness (Allan, et. al. 2010).

 

Other legal aspects for Australia and Thailand:

1)    Consumer protection is the most important consideration for both Australian and Thailand tuna fish industry. The importers in Thailand require Codex Codes of Practice and standards for tuna canning such as Critical Control Points, Hazard Analysis and Good Manufacturing Practice.

2)    The canned tuna’s production, distribution and processing takes place in controlled environmental conditions. The tuna fisheries are the first to take the certificate for eco labeling which ensures that the product has lower negative impacts on environment.

3)    The price of tuna changes with fuel prices, raw tuna prices and exchange rate. Raw tuna in a can of 1 kg accounts for about 60% of total cost. With the rise in raw tuna price, the price of the canned tuna will also increase. Similarly, the oil prices will have a direct impact on the canned tuna prices (Allan, et. al. 2010).

 

3.1.2 Economic situation and trends

Although the industry of tuna fish is increasing in Australia and they are focused upon catching the most popular tuna fish Skipjack to meet the demands of the market however the global market share of Australia still lags behind. As compared to 750,000 tons of tuna fish processing in Thailand, Australia processes only 31,000 tons of tuna fish every year. The tuna fish market in Thailand has seen a major expansion and is now one of the leading markets on the tuna fish platform but their rapid expansion has been halting over the years due to non tariff barriers and intense tariff barriers by the EU. The fluctuation has been persistent both in Australia and Thailand over the years (Allan, et. al. 2010).

 

3.1.3 Social cultural factors

Thailand is an emerging economy and to enhance the business, English is used as a second common language. Economic and political environments are also highly compatible with western interests. In addition to this, Thailand is located on an ideal geographic location between the Western pacific and Indian Oceans that are two important fishing grounds. Its location is also ideal for connecting the major markets with marine transport. As far as the tuna processing is concerned, it is a labor intensive process which requires reliable work force. Around 40,000 people work in tuna fish processing sector with an income around 2090 million baht. Little formal education is required for workforce and an average employee can work efficiently from 7am-5pm. To everyone’s surprise, people in Thailand are not so fond of tuna fish and most of the fish captured is exported to other countries in cans. The increased demand for tuna has been the population growth in the importing countries (Allan, et. al. 2010).

 

3.1.4 Technological factors

Thailand has highly developed canning system in the world which has increased its exports of canned fish around the world. Along with production and processing strategies, the supporting industries like cold storage, ports, shipping, logistics etc are all involved in the canning industry. On the other hand, Australia lacks the skills that are required to run the canning industry.

Summarized PEST Analysis

Political and legal factors Economic situation and trends
  • Stable democracy in Australia but unstable monarchy in Thailand
  • Australian license and quota system for tuna hunt. In Thailand, major firms make the price.
  • Consumer protection through Codex Codes of Practice and standards for tuna canning such as Critical Control Points, Hazard Analysis and Good Manufacturing Practice.

 

  • Overall stable economy in Australia but lower market share of tuna industry in global competition
  • Emerging economy of Thailand but a greater market share of tuna industry in global competition
Social cultural factors Technological factors

 

  • Ideal location of Thailand
  • Feasible business environment for global markets
  • English as the second and most commonly spoken language
  • One of the best canning system in Thailand

 

 

3.2 Porter’s Five Forces Analysis (Industry Shaping Forces)

Porter (1998) has designed this five forces analysis which at a glance tells the strength of an association.

 

3.2.1 Power of buyers

Low risk as Australian economy is stable and has sustained through the recession as well. As the buyers are health conscious, they are going to prefer Skipjack tuna fish. As for Thailand industry, the trade barriers have affected their performance and they are looking out for other opportunities. Australian Skipjack will be good news for buyers in Thailand which shows that the risk is low (Werbach, 2009).

 

3.2.2 Threat of new entrants

In Thailand industry, there are low entry barriers which lead to competitiveness. As for Australia, private companies are coming into business which might affect the business of this particular association (Werbach, 2009).

 

3.2.3 Threat of substitute products

In Thailand, the risk related to tuna is very low in terms of product substitution as tuna has lesser demand here. This risk could be higher for Australian company.

 

3.2.4 Level of industry rivalry

There is low risk for Thailand industry but high risk for Australian.

Summarized Porter’s 5 force analysis

Power of buyers

 

Threat of new entrants
The risk is low for both Australia and Thailand. Low entry barriers for Thailand but threat for Australia
Threat of substitute products

 

Level of industry rivalry

 

Threat for Australian tuna market but low risk for Thailand market Lower risk for Thailand but higher risk for Australia.

 

 

3.3 SWOT Analysis (Firm compared to competitors)

Aquaculture in Australia is a fast growing industry contributing a major share in the economy of Australia. The South Australia’s tuna fishing industry is expanding with time however the entry to this industry is not very easy and requires the actual expertise to take over the business. The tuna are caught in the Southern Ocean. This takes place under the strict quota system designed by the Australian fisheries authority. After the tunas are caught, they care cages for around 3-5 months. The time period depends on the market requirements in terms of demand from the customers. Most of the tuna is sold frozen to the markets. As per the contract arrangements, lower prices are usually paid for tuna as compared to fresh fish. The government is allocating all the resources to ensure the authentic environmental monitoring and assessment (Kourdi, 2009).

 

Tuna Boat Owners Association of Australia (now ASBITA) is playing a major role in developing the tuna industry in the Southern Australia. The association wants to export the tuna fish to Thailand for canning as the Thailand specializes and has established a very high and efficient tuna canning industry with a very easy access to global markets. Before the Tuna Boat Owners actually export the tuna fish to Thailand, the company will require a SWOT analysis of its standing in the tuna industry. Without considering the strengths, weaknesses, opportunities and threats factors of the industry, no company and not even the association will be able to evaluate the success or failure of their business (Hrebiniak, 2005).

 

3.3.1 Strengths

1)    The association is located in the region which is full of tuna species and especially Skipjack. Skipjack is the most commonly canned tuna fish all over the work and especially in Australia. The association not only has the access to domestic tuna market but also global due to the wide demand of Skipjack.

2)    The water and land resources are ample in the association to catch Skipjack and store it for unlimited time period. These resources allow the association to store this tuna fish for period of 3-5 months and continue the supply as per the demand of the market.

3)    The technological base of this company is very strong which is highly engineered to retain the health and nutrition of the Skipjack tuna fish. By following the science and technology and reengineering processes, the association makes sure that the tuna fish would be safe for the consumers (Kourdi, 2009).

 

3.3.2 Weaknesses

1)    Although the tuna fish industry is flourishing in Australia but the lack of industry skills relating to fish disease and health is a problem for this association. The association needs to access the knowledge and skills pertaining to deal with fish diseases and train the employees accordingly to ensure safe and healthy tuna fish supply.

2)    The amount of investment in the association is still low. Although the research and development is providing funding but the association is still lacking the right amount of investment that would help in further diversification and expansion of the product.

3)    The association has lower market share in Thailand market as the overall Australian share globally is lower as compared to many other countries that are dealing in this product export (Kourdi, 2009).

 

3.3.3 Opportunities

1)    One of the greatest opportunities for this association is the higher demand of seafood in Australia due to health conscious people. The lifestyle of Australian people is busy which prefers eating canned food. This is why the canned Skipjack tuna fish is very popular among people.

2)    Australian fisheries association has developed strategic research and development department which is enhancing the market opportunities and helping the tuna fish industry to set the direction and priorities.

3)    The planning of tuna fish industry is being done on the national level which is a great opportunity for this association to expand the business not only in the local market but globally as well (Cateora, et. al., 2009).

 

3.3.4 Threats

1)    The major threat for this association is the possible shortfall of supply in the market along with feed costs.

2)    Environmental and pollution backlash could hinder the function of this association.

3)    The private companies are entering the tuna industry which is threatening the business of this association as the private companies are investing rigorously in innovation and research (Cateora, et. al., 2009).

 

3.3.5 SWOT Summary Table

Strength Opportunity
  • Access to Skipjack market domestically and internationally
  • Ample water and land resources
  • Science and technology
  • Higher demand of tuna fish in Australia
  • Research and development
  • Planning at national level
Weakness

  • lack of industry skills relating to fish disease and health
  • lacking the right amount of investment.
  • lower market share in Thailand

Threat

  • possible shortfall of supply in the market along with feed costs
  • Environmental and pollution backlash
  • private companies

 

4. Marketing Opportunity Analysis

The product we are taking for consumer market is Skipjack tuna fish and the reasons for selecting this particular product is that it is among those tuna species that are not considered endangered like Blue Fin tuna. The product has a key benefit of bringing to the customers specie of tuna that is sustainable and is not currently under the overfished category. It has been noticed that consumers are well supporting the saving of endangered species of tuna fish in the market by preferring other species. However, the fish that is considered among overfished category include Blue Fin, Yellow Fin, Albacore and Bigeye tuna fish. Sadly, these fish are being caught up and exported to be canned and sold to consumer market. The unfortunate fact is the use of inhumane fishing methods that are the ultimate cause of endangering species as most of the fish species are wastes after catching as some are not up to the fishing standard prescribed by Australian board (Allan, et. al. 2010).

 

The product that is Skipjack tuna fish in canned form is unique in the sense that previously most of the companies have been selling Blue Fin and other fish species that was largely in demand. However, due to the inappropriate fishing methods it is in danger and our product would act as unique with highly sustainable food product; Skipjack tuna fish. It is important that the benefits of our product be communicated to the consumers appropriately in the market to enable our sales to increase. The key benefits would be to participate in a moral and social cause of saving the rare species of tuna fish by switching to other sustainable species like Skipjack. Also, it would be helpful to tell the consumers that the other species would vanish from the market soon due to their overfished nature. Therefore, it is better to develop one’s taste with Skipjack and adopt its use to help the environment by stopping an endangered species from vanishing completely from this earth. The key benefits of the product can be communicated to consumers by using media and other marketing strategic means. It is important to locate the targeted population by carrying out market research through cost-effective means such as social media networking that is the most popular way to marketing these days (Scholes, et. al., 2008).

 

5. Target Market Segment

The product is targeted toward health-conscious people all over the world as the product will be exported to major parts of the world and will not be restricted to domestic market only. The segmentation is therefore done on the basis of demographics, psychological features and other characteristics. The target people are mostly Thai population which has many reasons for targeting them. Firstly, they like innovative products plus prefer products having high nutritional value. They also like such products that have a novel appeal and are easy to cook. It is also important to mention that they like to experiment with and try seafood of all kind ranging from existing market brands to new ones. As our product is introducing canned fishery in Skipjack tuna fish and not using the popular Blue Fin, the rare specie of tuna, it is probable that it would be widely accepted by population that is health-conscious. The population in Thailand is homogenous with the average rate of round 85% people speaking common language and sharing same culture. There are three market segments in Thailand which consists of people with ages below fourteen, the second group with age of 14-65 years and finally the age group of over 65. The product we are launching is going to target the middle age group with 14 to 65 ages (Morgan, et. al., 2008).

 

Taking a look at the average income and spending and other economic factors in Thailand, it is important that people spend most of their earnings on products related to food. Therefore, there is a great market potential in this area.  Moreover, the average targeted customer is educated and is aware of the health benefits of tuna fish. The lifestyles of people in are also not usually of price-sensitive nature and are used to lavish spending. It is worth mentioning that the economic level of people living in this region is generally prosperous one and they are usually not concerned with low cost and can be hugely attracted through market differentiation strategy. It hints toward the huge market potential for tuna fish industry to prosper in Thailand. However, the important point regarding the consumer behavior in Thailand is that the local people generally do not eat tuna fish rather export it to others after canning it. There is a huge market for purchasing the product to the tuna fish businesses established in Thailand as there is a great market share taken by them (Werbach, 2009).

 

6. Critical Analysis

The launching of tuna fish product in U.S. market segment brings several challenges and problems associated with it. Also it has several opportunities for the market share due to some factors. One of such factors that affected tuna fish industry badly is times of global recession. It is particularly important as it did get affected by the economic recession that hints toward the challenges of this product. It had been witnessed in terms of decline in number of canning exports to U.S.  Due to the decreasingly demand among consumer market in States. However, the demand did rise considerably in the year 2009 and it had been depicted through the increase in imports and exports of tuna fish in Thailand and U.S. markets. These two industries are closely related which acts as an opportunity for U.S. fish industry to collaborate with Thailand. Another challenge surrounding the global tuna fish market is the rising prices that are expected soon as the supply would be reduced keeping in view most of the fish being overfished and coming in endangered species. It is important to mention the impact of the regulations implemented by the endangered species associations that have highlighted the need to avoid using inhuman and inappropriate catching methods that previously caused huge catches of tuna fish. There has been a great trend found in industry toward practicing appropriate fishing methods that would allow less fish to catch and become endangered (Werbach, 2009).

 

The problems that are highly associated with tuna fish industry are the longlines, bycatch and other cruel catching methods. The major drawback for using these methods is that they not only capture the targets fish, but it also causes other sea animals such as turtles and sharks to come in the trap and hence die. Therefore, it is contributing toward deliberately killing of sea animals that is inhumane. Even if a sea animal manages to escape from the trap, it somehow gets injured and become close to death. Other associated problems are the lack of information given to consumers about the product inside can in terms of the type of fish by most companies. It is sad that most of the cans do not have required nutritional information on the pack and also do not specify the mode of catching used for catching this particular type of fish. Despite the challenges described above, the tuna fish market has the huge potential for making great revenues and to earn huge profits. The product with using differentiation strategy is expected to succeed among consumers (Ghemawat, 2007).

 

7. Recommended Strategies

7.1 Mode of Market Entry and Justification

There are numerous strategies that a company has to undertake in order to introduce a new product to the market. For the launching of our new canned Skipjack tuna fish product, the innovative and market differentiation strategy would be used. To help get guidance, a five strategy model by Cunningham has been referred here. According to the model the technical innovation is used to gain market share and help one’s product surpass others in the market. The other strategies used are low cost, product adaptation, security and total adaptation strategy. Out of these strategies our product will focus on the innovative strategy to introduce differentiated product in the market to get increased revenues and profits. It is important to mention that one cannot use the strategy that involves adapting to the culture and infrastructure and technology level of the targeted consumer market as it would result in high costs and would take lot of time as well. Therefore, the market differentiation strategy is best to be used here.

 

7.2 Positioning Strategy and Marketing Objectives

The market positioning strategy would be to change the image of product in the eyes of consumers by targeting on the identity of existing products in the market. It would include telling the consumers about the bad marketing strategies and inappropriate strategies that other companies had been adopting to increase their sales. It involves highlighting the illegal and inhumane practices that consist of catching tuna fish of endangered and rare category as well as using cruel techniques of long lines and few others. Furthermore, the marketing objectives have been made keeping in view the smart objectives. It implies that the product is specific, is measurable and achievable and does not consist of out of reach targets. Also it involves using realistic resources for making the product work in a real world and not in imagination! Lastly, it is important to state the time limit or constraints as when the company plans to launch the product in the market.

 

7.3 Porter’s competitive forces and Marketing Mix

Porter’s competitive forces model also create important insights about the product as we have already discussed the differentiation strategy would be used. According to the product life cycle our product would be at the growth phase as there are increasing opportunities of Skipjack to gain market share. The marketing mix strategies are the differentiation in terms of product and the marketing strategies used would be using cost-effective media networking. Other effective strategies are the use of low cost, place or appropriate marketing strategic means of communicating the effectiveness of the product.

 

8. Sales Forecast

According to the data provided by the growth level and numerous opportunities in Thailand, it is expected that the sales are predicted to be high for our product. However, it is worth mentioning that prediction is not cent percent accurate and there is a lot of chance of getting false data about the sales. The sales forecast can be done on the basis of three methods among which include assessing the market potential in a location by looking at the estimates of the similar products in that vicinity. Although it is difficult to measure the future sales if a company does not have a past record for it. Thailand is among the major exporters of fish because of the huge market potential and resources available here. It earns $1.27 billion from the sales of fish it exports to major countries of the world. Thus it is predicted that the canned food industry would flourish here and the sales forecast for three years is seen as positive and highly rewarding (Dranove and Marciano, 2005).

 

9. Conclusion

Tuna Boat Owners Association, now Australian Southern Bluefin Tuna Aquaculture Industry Association (ASBTIA), is an effective association. Tuna export from Australia to Thailand has a huge market and this segment is really rich for tuna export. SWOT, PEST and Five Forces Analysis of ASBTIA gives a clear idea that there are more opportunities than problems and threats for this association. ASBTIA has a clear target market and the segment this association is targeting is stable, and sizeable. The sales forecast shows that in next few years it is expected that this industry will grow and this target segment will be even more profitable.

 

 

References

Allen, R, Joseph, J & Squires, D 2010, Conservation and Management of Transnational Tuna Fisheries, Wiley-Blackwell, New Jersey.

 

Baye, MR 2005, Managerial Economics and Business Strategy, McGraw Hill Higher Education, Columbus, OH.

 

Cateora PR, Mort, GS, D’Souza, C, Taghian, M, Weerawardena, J & Graham, JL 2009, International Marketing, McGraw-Hill, North Ryde, NSW.

 

Dranove, D & Marciano, S 2005, Kellogg on Strategy: Concepts, Tools and Frameworks for Practitioners, John Wiley & Sons, New Jersey.

 

Ghemawat, P 2007, Redefining Global Strategy: Crossing Borders in a World Where Differences Still Matter, 1st edn, Harvard Business School Press, Boston, MA.

 

Hrebiniak, LG 2005, Making Strategy Work: Leading Effective Execution and Change, Wharton School Publishing, Old Tappan, New Jersey.

 

Kourdi, J 2003, Business Strategy: A Guide to Effective Decision Making, Bloomberg Press, London.

 

Kourdi, J 2009, Business Strategy: A Guide to Taking Your Business Forward, Bloomberg Press, London.

 

Morgan, M, Levitt, RE & Malek, WA 2008, Executing your Strategy: How to Break It Down and Get It Done, Harvard Business School Press, Boston, MA.

 

Porter, ME 1998, Competitive Strategy: Techniques for Analyzing Industries and Competitors, Free Press, New York.

 

Scholes, MS, Wolfson, MA, Erickson, MM, Maydew, EL & Shevlin, TJ 2008, Taxes and Business Strategy, 4th edn, Prentice Hall, New Jersey.

 

Werbach, A 2009, Strategy for Sustainability: A Business Manifesto, Harvard Business Press, Boston, MA.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bibliography

Connell, J 1995, Control of Fish Quality, Wiley-Blackwell, New Jersey.

 

Day, G. S. and Reibestein, D. J 2004, Wharton on Dynamic Competitive Strategy,  John Wiley & Sons, New Jersey. Pp. 211-214

 

Dixit, A. K. and Nalebuff B. J 2010, The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life, W. W. Norton & Company, New York. Pp. 300-302

 

Evans, D. and Bratton, S 2008, Social Media Marketing: An Hour a Day. Sybex. Hoboken, NJ , USA. Pp. 339-344

 

Fotedar, R & Phillips, B 2011, Recent Advances and New Species in Aquaculture, Wiley-Blackwell, New Jersey.

 

Gilbreath, B 2007, The Next Evolution of Marketing: Connect with Your Customers by Marketing with Meaning. McGraw-Hill. Chicago IL USA. Pp. 112-113

 

Ireland, R.D. and Hoskisson, R.E 2008, Understanding Business Strategy: Concepts and Cases. South-Western College Publishers. Pp. 265-268

 

Keichel, W 2010, The Lords of Strategy: The Secret Intellectual History of the New Corporate World. Harvard Business School Press. Pp. 115-118

 

Kim, W. C. and Mauborgne, R 2005, Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant. Harvard Business Press. Pp. 137-138

 

Kotler, P. and Keller, K. 2008, Marketing Management (13th Edition). Prentice Hall. Upper Saddle River, NJ, USA. Pp.701-706

 

Levinson, J.C 2007, Guerrilla Marketing, 4th edition: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business. Mariner Books. New York, NY, USA. Pp. 332-327

 

Litman, J. and Frigo L. M 2008, Driven: Business Strategy, Human Actions And The Creation of Wealth Strategy & Execution, LLC. Pp. 112-115

 

Morgan, M., Levitt, R. E. and Malek, W.A 2008, Executing your Strategy: How to Break it Down and Get it Done. Harvard Business School Press. 132-135

 

Ries, A. and Trout, J 1994, The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk!. HarperBusiness, New York, NY, USA. Pp. 76-78

 

Singh, S 2009, Social Media Marketing For Dummies. For Dummies. Hoboken, NJ , USA. Pp. 203-211

 

Schultz, M., and Doerr, J 2009, Professional Services Marketing: How the Best Firms Build Premier Brands, Thriving Lead Generation Engines, and Cultures of Business Development Success. Wiley. Hoboken, NJ , USA. Pp. 55-59

 

Scott, D.M 2007, The New Rules of Marketing and PR: How to Use Social Media, Blogs, News Releases, Online Video, and Viral Marketing to Reach Buyers Directly, 2nd Edition.  Wiley. Hoboken, NJ , USA. Pp. 154-158

 

Stern, C.W. and Deimler, M.S 2006, The Boston Consulting Group on Strategy: Classic Concepts and New Perspectives. Wiley. New Jersey. Pp. 113-114

 

Treadway, C. and Smith, M 2010, Facebook Marketing: An Hour a Day.  . Hoboken, NJ , USA. Pp.223-228

 

Yarnell, M. and Yarnell, R.R 1998, Your First Year in Network Marketing: Overcome Your Fears, Experience Success, and Achieve Your Dreams!. Prima Publishing. New York, NY, USA. Pp. 102-106

Project Details

  • Date April 2, 2015
  • Tags Academic Report Writing

Leave a reply

Your email address will not be published. Required fields are marked *

Back to Top