Business Planning for the Alaska Seafood Industry

Part 6: Marketing Plan

Anchorage AlaskaNovember 2007

Alaska Sea Grant Marine Advisory Program

Marketing PlanMarketing Strategy

Market Research

Marketing Mix and the Four P’s:

Product differentiation

Marketing PlanMarketing Strategy

Define how you identified your market segmentWhich determined your target marketAnd designed your marketing mix to differentiate your product from others

Marketing PlanMarket Segmentation

Breaking customers into similar categories will allow you to target your marketing effort more efficiently.

For instance: A perfume company may select a market segment of -

WomenBetween the ages of 25 – 40Who are in households with incomes of $70K or higher

Marketing PlanMarket Research

Critical to determining your marketing strategy.Types

Data gathering SurveysInterviews

Marketing PlanMarketing Mix and the Four P’s

“Product Differentiation”

With their classic hit …

Ms Mix.

Promotion

ProductPrice

Placement

Marketing PlanMarketing Mix

Simply a blend of price, product, promotion and placement that coordinates to market your product/other to your target.

Marketing PlanPromotion

Includes:Sales promotionAdvertisingSales forcePublic relations

Marketing PlanProduct

Consumer v. IndustrialIncludes:

Quality - WarrantyDesign/labelPackagingPhysical characteristics

Branding

BrandingMore than creating a name

Identify what’s most important to the market/barriers to sales

Differentiate where there is the most value to the buyer or consumer

Move purchasing decisions beyond price

Marketing PlanPrice

Includes:List PriceDiscountsAllowancesPayment PeriodCredit Terms

Marketing PlanPlacement

Includes:ChannelsCoverageAssortmentsLocationsInventoryTransport

Marketing Plan

GrowerAnd/or

Harvester

GrowerAnd/or

Harvester

PrimaryProcessorPrimary

Processor

Further ProcessorAnd

Manufacturer

Further ProcessorAnd

Manufacturer

WholesalerWholesaler ConsumerConsumer

FoodServiceFood

Service

RetailerRetailerBrokersBrokers

The Seafood Marketing Chain

Placement

Alaska Sea Grant Marine Advisory Program (MAP)

Main Office / AnchorageMain Office / Anchorage1007 West 3rd Ave, Suite 1001007 West 3rd Ave, Suite 100Anchorage, AK 99501Anchorage, AK 99501Phone: (907) 274Phone: (907) 274--96919691Fax: (907) 277Fax: (907) 277--52425242EE--mail: mail: map@sfos.uaf.edumap@sfos.uaf.edu

Juneau MAP OfficeGlenn HaightFisheries Business Specialist104 Vintage Blvd, Suite 104Juneau, Alaska 99801Phone: (907) 465-8746E-mail: glenn.haight@uaf.edu