MARKETING PLAN

HORIZON FISHERIES PVT LTD

MKT101
Horizon Fisheries Marketing Plan

Contents
Introduction ............................................................................................................................................ 4
Mission and Vision ............................................................................................................................. 4
Product in focus .................................................................................................................................. 4
Micro environment analysis ................................................................................................................... 5
Macro environment analysis .................................................................................................................. 6
Political and legal:............................................................................................................................... 6
Economical: ........................................................................................................................................ 6
Social: ................................................................................................................................................. 6
Technological:..................................................................................................................................... 6
Market research ...................................................................................................................................... 7
Questionnaire design ........................................................................................................................... 7
Data analysis ..................................................................................................................................... 10
Consumer behavior / business buyer behavior .................................................................................... 12
Buying process for consumer ................................................................................................................ 12
Step 1: need recognition ............................................................................................................... 12
Step 2: information search............................................................................................................ 12
Step 3: evaluation of alternatives ................................................................................................. 12
Step 4: purchase decision ............................................................................................................. 12
Step 5: post purchase behavior .................................................................................................... 13
The business buying process................................................................................................................. 14
Step 1: problem recognition ......................................................................................................... 14
Step 2: general need description .................................................................................................. 14
Step 3: product specification ........................................................................................................ 14
Step 4: supplier search .................................................................................................................. 14
Step 5: proposal solicitation.......................................................................................................... 14
Step 6: supplier selection .............................................................................................................. 14
Step 7: order-routine specification ............................................................................................... 14
Step 8: performance review ......................................................................................................... 15
SWOT Analysis....................................................................................................................................... 16
Strength: ............................................................................................................................................ 16
Weaknesses: ...................................................................................................................................... 16
Opportunities: ................................................................................................................................... 16
Threat: ............................................................................................................................................... 16
Types of segmentation used ................................................................................................................. 17

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Horizon Fisheries Marketing Plan

4P’s ....................................................................................................................................................... 18
Product .............................................................................................................................................. 18
Price .................................................................................................................................................. 18
Promotion.......................................................................................................................................... 18
Place .................................................................................................................................................. 19
Recommendations ................................................................................................................................ 20
Product .............................................................................................................................................. 20
Price .................................................................................................................................................. 20
Promotion ......................................................................................................................................... 20
Place/distribution.............................................................................................................................. 20
References ............................................................................................................................................ 21

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Horizon Fisheries Marketing Plan

BY:

Saila Ibrahim (580940)

Eenath Abdulla Moosa (
Aishath Dheena Zaeem (60107)
Aminath Nafa Gadheer (59034)

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Horizon Fisheries Marketing Plan

Introduction

HORIZON FISHERIES PVT LTD is a Maldivian company which was found on 30th April
2003. With the point of directing fisheries related organizations, the organization began its
operation on the 16th of September 2003 in the wake of assuming control over the Maandhoo
Fisheries Complex (MFC) from the Maldivian government through the aggressive open
offering process. The company operations and manufacturing factory is located in Laamu
atoll. The main activities of Horizon Fisheries is collection, Storage, processing and
marketing of tuna and tuna related products. The company focuses on diversifying their
business to meet the needs of Maldivian fishing industry and their international customers.
Horizon fisheries has a range of tuna related productions.

Mission and Vision

Horizon Fisheries Mission statement as quoted by them is “Our vision is very
simple, yet we are very dedicated to it. It is to be the leader in the Fisheries trade in
the Maldives.”

And their mission statement as quoted by them is “We always serve with total commitment,
foster continual improvement, and we aim to harness the creativity and aspirations of our
employees to keep our promise to our customers, shareholders and to the society.”

Horizon fisheries is one of the leading fisheries complex in Maldives with 20% market share
in tuna related packed products.

Horizon fisheries has a market oriented strategy. They want to deliver what the customers
want and keep them satisfied. And their products are very diverse in order to cater to likes of
different customers.

Product in focus
The product that will be focused in this assignment is Horizon Fisheries Tuna Pouch: Bigger
pack, Better value. This product was first introduced to Maldives by Horizon Fisheries. Their
key target customers for this product are caterers, restaurants, hotels and resorts. Compared to
cans, pouches are easier to store as they take up less space and are easier to open . Pouch tuna
is also cheaper than cans when considering the cost of production and packaging material.

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Horizon Fisheries Marketing Plan

Tuna pouch comes in four sizes that is 450g, 1kg, 3kg and 7kg, and in brine, spring water or
in any preferred oil.

Micro environment analysis

HF is a privately owned fish processor with the vision to become the leader of the industry in
the Maldives. Their business and marketing is majorly focused on export of its various tuna
products which ranges from canned tuna, tuna in pouched, fresh fish, frozen fish and other
by-products such as fishmeal, tuna paste etc.

The best customers of HF are their international customers.. HF targets their products to these
countries and specifically the food brands with common interest in selling sustainable food
products. HF exports 80% of its products to UK, Ireland, Germany, Switzerland and many
more. Moreover, HF sales and marketing team have been putting an effort to improve their
presence in the local market with the launch of their local brand of products “rahameeru” 2
years ago. The target market for the cans are local supermarkets and suppliers to the atolls.
Whereas, tuna in pouch is a product specifically designed for caterers.

As Maldives is well known for its tuna products, HF is has many competitors. Their
competitor for Tuna can includes MIFCO, Felivaru Fisheries Maldives, Ensis Fisheries, and
Enzi Maldives.

HF owns and manage a fleet of vessels which assist in the collection of fish from different
zones of Maldives. HF’s products are processed in their own world class canned tuna
processing factory. Moreover they have their own cold storages as well so that they can keep
up with their processing capabilities. Any materials needed for packaging and processing
food are mostly imported.

HF’s products are sold in whole sale and retail from their shop HF superfoods which is
located in Male’ city. Other than this, their products are also retailed by supermarkets and
local markets. HF is determined to keep a good customer relation as well as public relations.

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Horizon Fisheries Marketing Plan

Macro environment analysis

Political and legal:
HF will be directly impacted by any amendments of laws and regulations by government. As
majority of the employees working in the HF factory are foreigners any political changes,
employment regulations and policies will impact their business. While HF is determined in
international extension, the trade laws that occur with political instabilities also cause barriers
to enter new markets successfully, impacting their progress and revenues.

Economical:
As any other industry, fisheries industry will also be impacted by recessions. Foreign
exchange rates, inflations, and GDP growth. HF has its majority of revenues in foreign
currencies and as a consequence the economical fluctuations do cause a negative effect on
their strategies through payment credits and lending’s resulting in financial constraints with
payment delay and foreign exchange loss by international transactions.

Social:
Conventionally consumer’s preference for products such as canned tuna was basic. However
with growing consumer awareness of health and changes in lifestyle, has resulted in changes
in consumer’s demands and wants. For instance, health conscious consumers demand the
canned fish to be processed in healthier oils such as sunflower oil or olive oil whereas
traditional tuna cans were packed in vegetable oil. And environment conscious consumers
want the products they purchase to be produced in a way which does not affect the
environment and does not contribute the damaging of the environment. As a result of this
producers have to be more cautious. Consumer’s choice in purchasing is very much
influenced by social media. Hence HF is compelled to reach out to their consumers through
social media such as Facebook.

Technological:
Developments in technology also plays an important role in development of the fisheries
industry. For efficient production HF makes sure to invest in modern technologies and
machineries. Other technological advancements such as use of online sales, online tracking
systems for shipping also helps to lower the cost and efficiency in communication with
international customers as well as exposure to potential customers. These advances have
helped HF to reduce the shipments dispatch time, to keep track of stock and management of
manufactured goods delivery to the suppliers, supermarkets as well as consumers.

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Horizon Fisheries Marketing Plan

Market research
Questionnaire design
This is the design of the questionnaire which was passed on to a sample of 25 individuals to
understand consumer buying behavior an factors which influence their buying decision. .

https://goo.gl/forms/mDk3EQFJAlqSuB5u2 - URL for google doc form.

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Horizon Fisheries Marketing Plan

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Horizon Fisheries Marketing Plan

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Data analysis
Here are the response in the form of charts and graphs.

Sum of 2. My social role (rights, obligations, beliefs, and norms )

influence my purchase decision of tuna product brand by
Occupation
35

30

25

20

15

10

0
Employed Entrepreneur Housewife Senior citizen Student

Sum of 6. I decide on a tuna product brand depending on my

knowledge about the brand by Number of people in your household
70

62
60

50

40

Total
30

20 17

10
6 5

0
1 2 3 More than 3

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Horizon Fisheries Marketing Plan

Sum of 3. My family size affects my purchase decision of

tuna product brand by Education

Secondary 32

Masters 4

Total
Higher secondary 31

Bachelors 17

0 5 10 15 20 25 30 35

Out of the 25 people who took the questionnaire 56% people were of age 18 to 25 and 52%
of these 25 were employed. 36% of people disagree that their social status and social role
influence their purchase decision of tuna product brand. 10 out of the 25 people strongly
agree that the size of their family affect the decision of purchasing tuna products. More than
50% of people who participated in the questionnaire say that Products nutrition and taste is a
major factor when it comes to purchasing tuna products. 40% of the sample believe that sales
and promotional activities contribute to their decision to buy tuna related products. And when
it comes to advertising 36% of the sample don’t seem to agree that television advertisements
influence their buying decision. And 44% of the sample say that they are willing to
recommend the brand to others if they are very well satisfied with the product.

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Horizon Fisheries Marketing Plan

Consumer behavior / business buyer behavior

The buyer decision process consists of 5 stages representing what the consumer will go
through before making the purchase decision.

For a tuna product, the buyer decision process is simpler compared expensive or luxury
items. Moreover, the buyer decision process is not followed by most of the consumers in the
purchase of day to day items.

Buying process for consumer

Step 1: need recognition
A need is recognized when there is a difference between the actual and the desired state. This
is the beginning of the buyer decision process.

In the case of HF tuna products, when the consumer wants to make a food item which
requires tuna, the need is recognized as he has none at home.

Step 2: information search

Stage two is where the consumer begins to search for information about the product to fulfill
the need. This information can be collected from different sources such as personal,
commercial and other sources as well.

The consumer might ask for recommendations from his co-worker or his family about the
tuna products available and their brands, he may also opt for the advertisements on TV as his
source of information.

Step 3: evaluation of alternatives

The consumer evaluates different product information collected at this stage to identify which
has the ability to deliver the benefits the customer is seeking.

In the case of HF Tuna, evaluation of the alternatives can be done through comparing
between competing brands such as Fasmeeru, Enzi.

Step 4: purchase decision

This is the second last stage where the purchase of the product takes place. However, the final
purchase decision may be interrupted by two factors:

 Attitudes of significant others

 Unexpected situational factors

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Horizon Fisheries Marketing Plan

For instance, the consumer might have decided to purchase Fasmeeru on this way to the shop,
however if his wife likes HF products better due to their nutrients, he may decide to buy the
HF product instead of Fasmeeru. Or if the Fasmeeru products were out of stock, his purchase
decision will be disrupted.

Step 5: post purchase behavior

At this stage, the consumers compare their experience in using the product to that of their
expectation. Satisfied customers often engage in positive word of mouth and unsatisfied
customers are likely to share their dissatisfaction with approximately 11 people.

If the consumer who purchased the HF Tuna pack is unsatisfied with his experience, he
would be experiencing cognitive dissonance.

Factors such as the following can affect the consumer buying process:

· Income

The results of our survey shows that the product is demanded irrespective of the income of
the consumers. Therefore, we can conclude that a consumer might not follow the buyer
decision process step by step, eliminating stages such as evaluating of different brand prices.

· Nature of the product

The buying decision process is precisely followed by consumers when purchasing luxury
goods unlike products such as tuna which can be regarded as a necessity.

For instance, a consumer is not likely to follow the step 2 (information search) when making
the purchase intention to buy the Tuna product and opt for the available brand instead.

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The business buying process

In addition to consumer market, HF also operates in the business marketing being associated
with companies such as Villa Resorts, Fantasy Bakers, Bandos and Silver sands.

A business market is defined as all the organizations that buy goods and services as their
inputs in producing their products or for the purpose renting or reselling.

Step 1: problem recognition

This process begins when a problem is recognized that can be taken care of acquiring a
specific good.

For example: HF needing to improve the quality of their cans.

Step 2: general need description

This step clarifies the overall characteristics of the requirement.

The material of the can, quantity required fall in this step.

Step 3: product specification

The general needs are translated into product specification by the developmental team of the
company in this step.

The quality of the can, the weight, the durability, ability to contain the product safely without
perishing can be some specifications.

Step 4: supplier search

The company then conducts a search for the most suitable vendors to cater for the product
specifications.

Step 5: proposal solicitation

After step 4, the qualified suppliers are invited to submit their proposals accordingly to the
specifications and the supply and support terms.

Step 6: supplier selection

After the evaluation of supplier proposals, a supplier is selected based on a combination of
factors such as technical competence, reputation and service record.

Step 7: order-routine specification

This step clarifies the details of the supplier’s contract. Details such as delivery terms, return
policies and warranties.

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Horizon Fisheries Marketing Plan

Step 8: performance review

The performance of the supplier is reviewed in this step and decision to remain with the
existing supplier or to drop them is taken by the company doing business with the supplier.

In the case of HF, is the can packaging provided by the supplier is not up to the standards
identified in the product specification stage, they may drop the supplier.

Factors such as the following can affect the business buying process:

· Recommendations of suppliers

A company may not follow the 8 steps of the business buying process if it has a
recommended supplier. This means that HF might not go through step 4 (supplier search) if a
trusted party recommends a particular supplier.

· Organizational factors

Factors such as purchasing policies, resource availability, size and compositing of the
organization can affect the business buying process.

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SWOT Analysis

Strength:
 Only company in Maldives as well as internationally with both Fair Trade USA
and MSC- Marine Stewardship Council certification.
 Their uniqueness is all their products are tuna caught by pole and line and is
processed in Maldives which adds value to their products.
 Their products are up to export quality and is halal certified
 All their tuna products are caught by Maldivian and processed in Maldives..
 No one export company in Maldives

Weaknesses:
 HORIZON Fisheries is not locally well known as it was introduced to locals very
recently.
 As they buy fish from local fishermen, their supply of raw materials will be directly
affected by change in season and environment which cannot be controlled.

Opportunities:
 As people are getting more aware about the products and how they are
manufactured, as HF uses tuna caught in a sustainable method, it has a great future.
 Only fisheries company to sell tuna in pouches

Threat:
 Local competitors such as Mifco, Ensis and Enzi.
 Customers who are loyal to traditional tuna in cans.
 Source of raw materials unpredictable and uncontrollable.

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Types of segmentation used

The type of market segmentation used by HF is the segment marketing.

Segment Marketing is defined as the act of separating a market for a product into subgroups
based on the existing relationships with them. Different marketing strategy is used for each of
the segments accordingly.

HF has two main segments:

Business market Consumer market

Market size 30% 20%
Consumption of the product Preparation of food items
Pricing Discounted prices Retail price
Price sensitivity Low High
Product demanded HF tuna pouch HF canned tuna
Distribution Bulk shipments Part shipments
(singular)
Reachability Hotel Asia exhibition TV advertisements
Demand  Low cost  Low cost
 Less wastage  Taste
 Easy packaging
 Taste

As illustrated in the table above, HF has two segments demanding on low cost and good taste.
Therefore, their positioning strategy has been designed in a way that communicates the
quality of the product in terms of its taste and also the competitive price HF offers to its
customers, both in consumer and business market.
Read more: http://www.businessdictionary.com/definition/segment-marketing.html

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Horizon Fisheries Marketing Plan

4P’s
Product
The product focused in this report is Tuna in pouch. Which is tuna packed in sealed
vacuumed pouched instead on traditional tuna in cans. It can be stated that HF’s tuna in
pouch is still in its growth stage. As it was introduced to the local market very recently, and is
still in the phase of gaining recognition. Tuna is pouch is very well known and praised
amongst restaurants and resorts. As the pouch is easier to open and saves more time
compared to opening a can of tuna. And produces less waste compared to traditional tuna in
cans. The tuna in pouch is an example of an actual product. As it has a brand name, features,
quality and is packages and sold to consumers. Tuna in pouch has a shelf life of three years if
in oil and for tuna in brine two years shelf life. Tuna in pouch comes in three sizes 500g, 1kg
and 3kg. 500g to 3kg pouches are sold in cases with 10 pieces. And tuna pouch of 3kg is sold
in cases of 4 pieces.

Price
Prices of the Tuna Pouch varies according to the weightage of the purchase. The following
table illustrates the prices of HF Tuna Pouch

POUCH Wholesale 150-259 250 + Retail 1-9 Retail 1

10-149 cases cases cases piece
cases
Product Pack type Price - Mrf
500/350g Chunk in oil 10 pouches / case 380.00 370.00 360.00 397.00 40.00
500/350g Chunk in brine 10 pouches / case 370.00 360.00 350.00 380.00 38.50
1/0.9kg Chunk in oil 10 pouches / case 880.00 875.00 870.00 884.00 88.50
1/0.9kg Chunk in brine 10 pouches / case 840.00 835.00 830.00 845.00 85.50
3/2.75kg Chunk in oil 4 pouches / case 1000.00 990.00 980.00 1012.00 253.50
3/2.75kg Chunk in brine 4 pouches / case 969.00 959.00 949.00 979.00 245.00

Promotion
Promotions are mostly done through social media via Facebook page Horizon Fisheries
Maldives. Promotions are mostly done through social media via Facebook. Special
promotions are held for Ramadan season as the consumption of food increases during this
time period. They have special promotions for Ramadan season, for 2017 Ramadan the HF
sales and marketing team is currently visiting to many atolls in Maldives selling their canned
tuna and tuna in pouch as special discounted prices. And HF also participates in local fairs

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Horizon Fisheries Marketing Plan

such as Hotel Asia, EXPO Maldives, Maldives consumer fair etc. And For business markets,
discounted prices are given to depending on the quantity of the order. Delivery services are
offered as an after sale service to premium customers of HF

Place
HF’s products are sold for consumers from their shop HF superfoods, which is located in G.
Kalhuhuraa Magu, Male, Maldives. For business customers goods are directly delivered from
the factory. Most of their distribution is direct. And there are some retail shops which sell HF
Tuna in pouch.

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Horizon Fisheries Marketing Plan

Recommendations
The marketing mix used now by HF and the 4Ps mentioned earlier is the basic and most
commonly used marketing mix.

Product
The product tuna in pouch is a new, innovative product to the Maldivian market. A pouch is
easier to open compared to a traditional canned tuna which is a very desirable feature for
caterers. And HF sells the idea that pouches provide less waste and is more environment
friendly and waste management is more efficient. It would be great if HF could upgrade their
tuna in pouches to be re-sealable. It would be a very useful feature. And the main focus point
is bigger pack, better value. And compared to can is cheaper. As the tuna in pouch was very
recently introduced it is not that known amongst consumers, but is much praised amongst
restaurants and resorts. HF expects to be the number one supplier for resorts and to replace
canned tuna altogether.

Price
Tuna in pouch is well-known for its low price and high quality. Which is a desirable feature
for both consumer market and business market. And customers perceive it as a lower priced
product. The price of the product is enough to cover the cost of production as packaging of
pouches will be cheaper compared to cans. And the price of the product is enough to keep up
with the price of competitors. For example a 500g chunks in oil is sold at retail price MVR
40.00. A fasmeeru chunks in oil can which has 60g is sold at a retail price ranging from MVR
20.00 – MVR 17.00. In this case the pouch has 5 times more than the can, and is much
cheaper compared to the competitors.

Promotion
Most of HF’s promotional activities are on Facebook and or fairs and exhibition. HF can try
to use billboards and Television advertisements to promote their product.

Place/distribution
HF can try to get large resellers such as Agora or Red wave to sell their products and to get
good shelf space. This would be more profiting in the long run.

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References
(n.d.). Retrieved from
https://docs.google.com/forms/d/e/1FAIpQLSdRcQAIz8ZqqHm_rsDWA0t5Y_VbP4nftwCQFp
YP3OsTs6344A/formResponse

Dheena Zaeem, N. G. (2017, April 25). Marketing plan for Horizon Fisheries. (A. Zaeema, Interviewer)

HF. (n.d.). Products. Retrieved from http://www.horizonfisheries.com/

Johnston, E. (2016, May 18). Customer insight - Telemarketing . Retrieved from B2B Marketing :
https://www.b2bmarketing.net/en-gb/resources/blog/5-steps-understanding-your-
customers-buying-process

unknown. (n.d.). Buyer decision process. Retrieved from Marketing Teacher:

http://www.marketingteacher.com/buyer-decision-process-2/

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