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Neptune

In: Business and Management

Submitted By amalben
Words 3450
Pages 14
Abstract

Neptune Gourmet Seafood is facing a problem with oversupply for existing demand. It can either decrease supply to match demand or increase demand to match supply. I recommend the latter. I further recommend the way to increase demand is for Neptune to increase its marketing efforts in its existing markets and to penetrate other markets it currently is not in.

The Competitive Environment

Neptune is a 40-year-old, $820,000,000 company, specializing in quality shell and non-shell seafood in a $20 million industry. It is North America¡¦s third-largest seafood producer, but that designation is misleading, because its revenues account for only 4.1% of the total market. As such it is but one of many firms operating in the seafood processing industry, one whose market structure could be termed monopolistic competition. The industry is not limited to North American firms such as Neptune, but also includes companies from China, Peru, Chile, and Japan, competition from which has pushed Neptune to upgrade its fishing fleet and which also has helped shrink the company¡¦s margins by 10%.. Neptune markets to the high end of the market, differentiating itself from the competition by its quality, selling its high-end brand at 25-30% above the rest of the market. Their years of ex perience coupled with the company¡¦s value development pose a threat to any new firm trying to enter the market. It is the only member company of the U.S. Association of Seafood Processors and Distributors (ASPD) to receive the association¡¦s Gold Seal of Approval on all its products (Kesner and Walters, 2005). Neptune currently markets its seafood to individual consumers, restaurants, wholesalers, grocers and grocery chains, and transportation and leisure cruise operators. The top restaurants within 250 miles of the company¡¦s headquarters in Fort Lauderdale, Florida and the biggest cruise lines account for 33% of the company¡¦s sales. The 33% goes to wholesalers who distribute to...

A business audit for Neptune Gourmet Seafood
Neptune Gourmet Seafood has had good business in the past 40 years but currently competition is building up. Neptune has been greatly boosted by the sophisticated plants which were built near Florida, Virginia, Cedar Key and Norfolk. These plants produce quality products thus luring customers. Furthermore, Neptune has a wide range of whole sellers who help in the distribution of it products, which makes it very famous among customers. Neptune is considering the slashing of prices in order to do away with excess stock which is a valid idea (Laermer & Simmons, 2007).
Role of business audit in strategy
Business audit is very vital in strategy since it helps the organization to predict and plan for the future. Moreover business audits help in assessing the viability of the business I terms of it profitability and market share (Zaltman, 2003). Business audits help businesses to set objectives and goals and how to achieve these objectives (Hamel & Prahalad, 1990). Auditing techniques are used to unearth deviations that may arise from the business audits. These techniques are used in order to ensure that there are ethical practices in business (Rydholm, 2000).
Strategies used by Neptune Gourmet Seafood
In order to their current status Neptune has used a variety of strategies. For instance, Neptune has established a market by selling frozen fish where by restaurants prefer frozen fish rather than freezing it themselves. Neptune has invested over $9 million in freezer trawlers thus managing to stay ahead of their rivals (Moncrieff, 2000). In addition they have whole sellers who distribute their products all over United States. Neptune also uses advanced technology in fishing which ensures that nets are not overloaded hence leading to damage.
Role of Strategic Planning
The importance of strategic planning is to assist the organization in creating priorities which are supposed to serve the customers better and members of the organization (Kono, 1994). A good strategic plan should be flexible and effective in order to guide the implementing programs (Evens and Wurster, 1997). A strategic plan should reflect the ideas and needs of the organization and its purpose (Miles, 2003).
Short-term and Long-term strategic options
For the long-term strategies Neptune should consider capitalizing its base in order to be the leading company in sea food products (Burnett et al, 2004). The organization should also have a vision on how it would like the world to as part of it long-term strategies (Burkhart and Reuss, 1993). For short-term strategies Neptune should consider lowering its prices in order to offset the overflow in stock.

Week 3 Questions from “Class or Mass”
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A. Some of the cost and supply side factors were things like fuel costs for the vessels, market rate for the seafood, supply levels in allowed fishing area, logistics costs associated with moving/selling the fish. Cost forecasts were easier to predict in terms of fixed costs. However, when looking at the variable costs or the “possible” cost associated with a new brand it is not as black and white. The supply drivers are the technology of these new vessels and the innovation of new ways to make the same supply better, like building tuna ranches. The supply elasticity was very inelastic. I say that because they can raise prices without really having to sell more. That is part of their identity as the high-end seafood company. Technology has really done a number on this industry and that is why the increased supply is permanent (somewhat). This is going to drive prices down because I am sure they are not the only ones with this problem. Some of the possible solutions will need to address the short term costs such as this excess inventory, as well as, the long term costs like how they plan make sure this doesn’t continue to happen.

B. There were several influences to demand, value and price. The biggest was the excess inventory its self. They really didn’t mention if this was industry wide but I’m guessing it is. The company that challenges it’s self to be proactive and innovative with their resources is going to be the profit king. I like how they are forecasting demand by looking for innovative ways to capture more business and not stealing market share. This is smart business on their end. The demand elasticity was elastic because price will affect demand. The problem is how much the industry can take and there is not magic number here so no exploring that route would be ideal. If they lower prices, it will affect their brand loyalty. Seafood faces some challenges because there are multiple...

Research Study Analysis

Risk Management in the Health Care Sector Introduction There are a number of risks being faced by doctors and patients alike in the health care sector . In a sense , risks are an inherent part of providing health care services . For one , the treatment of diseases always includes a certain level of risks . Doctors may not be able to do the procedure correctly . On the other hand , the patients may not have disclosed every pertinent information affecting their illness to the doctor they consulted Given the prevalence of risks in the healthcare
International Strategic Management In The Service Sector( Hospitality Industry)
Things to consider in the assessment are general information on the changing in UK food safety legislation , current situation in UK airlines industry , major players in UK catering market , and supporting suppliers for catering services . We will employ Porter 's Five Forces analysis in determining factors the Cathay Pacific Catering Services (CPCS ) should consider when entering UK in-flight catering industry . The five components in the analysis are threat of new entrants , power of buyers , power of suppliers , rivalry among existing... words: 4643 pages: 17

Employee Relations
Mix of Gate Gourmet as a service enterprise (Payne , 2002 . All the stake holders have erred and made serious professional and vocational mistakes in the handling of this incident . It is not as though the implications are sealed , and there are negative connotations in the long term for all the parties . Trade Union Role The actions of the Union after the conflagration are better than its preventive steps . The Union has done well to allow the compromise which saw the... words: 2447 pages: 9

Q . What is the nature of the product and its characteristics
Ans . The product is unique and is a combination of two services meal planning and grocery shopping . It is aimed at people who are too busy to spend time on planning and shopping for a healthy meal at the end of their day . Therefore the services offered by Gourmet to Go are centered around not just planning a nutritious meal for customers but also providing shopping services and delivery of the necessary ingredients at the clients doorstep . Customers have a choice of five dinner packages which are planned with the help of a nutritionist and do not take more than twenty minutes to prepare . The ingredients provided are high quality , fresh , and ready to cook or store in refrigerators for later use . Nutritional information along with the best method to prepare the meal will also be included with each product . The essence of the product lies in the fact that it isn 't your common fast food which is considered unhealthy by many . Secondly , it isn 't just another restaurant meal either . It is in reality a home meal without the hassle of planning buying and arranging of ingredients and then cooking the meal . Only the cooking part will be done by the customer with all else including delivery of ingredients to the door step being done by Gourmet to Go Furthermore , the meal will be nutritious and fresh unlike other restaurant meals , and not take more than twenty minutes to prepare . This gives Gourmet to Go a unique product and allows it to enjoy a niche in the market which is new and yet untapped by anyone else . The ingredients will be prepared prior to delivery for direct usage , packed in appropriate packages for cooking or storage etc . This would include cleaning and wrapping of meats in quantities required for the meal and also packaging of other ingredients in a similar way such as vegetables and spices .Q2 . What is the nature of the competitive environment Ans . Gourmet to Go is a unique idea and so far does not have any direct competitors . Of the meals to the customer 's doorstep . There are various pizza delivery and fast food chains however that do deliver prepared food at the customers doorstep . of these however are direct competitors of Gourmet to Go as these meals are prepared before hand and Gourmet to Go meals are prepared at home . Of all the grocery stores in the area , only two upscale stores offer delivery services and charge a fixed amount regardless of the size of grocery . They don 't however provide preparation instructions or pre-packed ingredients for direct use Another firm offers delivery services in terms of picking up s from restaurants and delivering them at the customers doorstep As it can be seen , of these are in direct competition with Gourmet to Go . Gourmet to Go is a combination of all these services . The services are delivery of...

Marketing and the Virtual Marketplace #3

Impressive is Desiree 's departure in white clothes symbolizing innocence with sunlight forming a kind of a golden aureole around her head . She goes into the deserted field (that probably denotes her future loneliness and abandonment , with sharp stubble wounding her feet and causing physical pain that signifies her mental suffering
Armand 's decision might seem quite predictable in the traditional white patriarchal society . But Chopin presents it against a different background . The childless Valmondes adopt a girl with unclear origins and then accept her back with a quadroon child Armand 's father leaves to France and marries a mulatto woman who bears him a son (perhaps that 's why they don 't return to the prejudiced Louisiana and stay in the liberal Paris , until she dies . However , Armand fails to accept a quadroon son , which makes him destroy his family life This story emphasizes the value of tolerance and the injustice of racial discrimination , which was not an abstract notion in the 19th century . We live in the multicultural society that learned the lesson of racial equality , however , stories like Chopin 's Desiree 's Baby ' remind us about tolerance is not an abstract phenomenon , but a matter of personal choice and constant awareness of the equality of all people , despite their differences Works Cited

mkt ph3 db

Running Head : GOURMET COFFEE RESEARCH Gourmet Coffee Research indicate your name here indicate the name of your professor here indicate the academic institution here Using the books and internet , a research regarding buying behavior for gourmet coffee is conducted for the country of France . Certain keywords are used in to limit the search for the internet . The keywords used include gourmet coffee , France , brewing equipment , buying behavior and consumption . Using a search engine , there are results that came back and the relevance of each are taken into account . This is

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because , while there may be several results found , the credibility and relevance are to be inspected when using the internet for research (Levitt Rosch 2006 . There are also books consulted but relatively few information from both means resulted to an exact data needed to determine the buying behavior in the said country . A summary of the results are shown below Coffee is , interestingly , served together with breakfast in bowls and is mixed with an aroma of chicory (Eccellente Gourmet Coffee , 2005 Likewise , the quantity consumed for coffee is associated with certain factors , which are identified by Debry (1994 ) as need for a stimulant preference for strong coffee , coffee connoisseurship , and choice of coffee-roasting shop (p . 65 . In terms of world consumption , France has shown a trend of decline from the years 2000 to 2004 with the only exception for the year 2001 to 2002 (International Coffee Organization 2005 . Relative to the numbers of other European countries...

SWOT

Threats The presence of previous employee to a rival gourmet food producer would pose the greatest threat to IPT . Having been previously part of IPT , the two employees can put their previous knowledge to the advantage of the competitors . Another threat is the Amish businesses who are planning to venture into the gourmet food market place which might increase competition and lower profits SWOT Matrix Strength Weaknesses Opportunities Having the patent of the popcorn coating process , IPT could expand and grab the market demand of the gourmet food market place before a similar business could compete . Finally IPT could take advantage of its strong brand name to make a presence through the web IPT should also look at distribution channels to create a wider market output . Through good relationship with a distribution channel , IPT could lift up its already tainted reputation indicated by the resignation of two its salesperson Threats IPT must enforce its patent over the popcorn coating process so that other businesses will not simply copy . IPT must also continue to maintain its quality and further strengthen its brand name . IPT must continue to build up its reputation through good business practices such as proper ethics . IPT must also improve its employee retention policy to prevent other employees from going to rival gourmet food producers . Then it must widen its distribution channel to prevent incoming businesses such as the Amish community from taking shares in the gourmet food market Management must decide if the priority should be on the team 's strengths to capitalize on opportunities or to minimize weaknesses and avoid threats (Dindar , 2007 . So for IPT , it would either prioritize grabbing the market demand by expanding and using its strong brand name or strengthen its employee retention policy and widen its distribution channels to prevent rivals.

communication

p Small Business Opportunities Potential business owners should understand that franchises are expensive to buy , they carry no more guarantee of success than an independent small business and they require just as much work to make them succeed . One of the major considerations in choosing a business is the amount of money that the potential buyer has to invest . Internet businesses , contrary to popular belief , are not significantly cheaper to set up , however there is often substantial savings to be realized due to lack of need for large inventories
Information technology now presents opportunities to capitalize on the fact that many small businesses outsource their information needs and larger companies are beginning to outsource much of their Information Technology needs as well (Campbell 2005 On the other side of the coin are food and beverage niche industries . An online gourmet cheese shop can give the owner an opportunity to take advantage of America 's more sophisticated palette in the 21st century (2005 . Businesses such as this can be operated as online enterprises just as well as can an information technology company Information Technology will require more computer power , more bandwidth and more personnel trained in the necessary software . It is a service business and will require more sophisticated sales techniques in face-to-face meetings than will a gourmet cheese shop . The IT business will have virtually unlimited potential as more companies outsource their information requirements , while the gourmet cheese company will be limited by its customer demographics and will have to grow its customer base largely by online advertising The conclusion is that the IT business operation , though outlay of capital will be greater initially , has more potential , and ultimately will be more profitable

Marketing Plan

PROPOSAL FOR NEW RESTAURANT CONCEPT Grande Haute Cuisine : French Cuisine Submitted to Haywood Jabuzoff , Executive Director , The Creative Concept Consortium Number One Gourmet Drive , Adelphi , Maryland 20783 , U .S .A Page 2
At present , the competition for innovation plays a key role in the success of any establishment especially on services that will meet human necessities such as the food and beverage industry . There counts several challenges to face . There are slim margins , there is an unpredictable demand for the product and there is a large significance based on the br consumer demand of the service . Once merged with a rapid turnaround time , those challenges eventually contribute to the life-or-death opportunity of the establishment itself Purpose The purpose of this proposal is to create and develop a new breed of specialty restaurant that would eventually turn into a transnational business Objectives The objective of this proposal is particularly geared towards the establishment of a French specialty restaurant . The focus is directed towards only one cuisine (i .e . French ) such that its elaborate concepts are minimal yet well implemented . Moreover , it aims to adapt or even set its own line of innovation upon obtaining progress and success . It likewise intends to touch a million patrons , as first being a small business enterprise and then being among the world 's finest and renowned food ventures Marketing Strategy Having to focus on a single specialty makes an enterprise more susceptible to progress , just as Starbucks had attained its current post as the world 's leading coffee supplier . Starbucks , in this light had its focus primarily set upon the production as well as the service of high-quality coffee beans . And French cuisine is the best target to stimulate public support French dining cuisine ranges from a variety of olives and seafood , of butters and toasts , of bistro confections to the most fanciful ones of the Tour d 'agent . It is considered one of the most elegant Page 3 style of cooking . A wide array of cooking stratagems are involved and applied , some virtually complicated , that serves as the basic . Just as the way Japanese cuisine is expected highly of the most simple preparation under the pressure of time , French cuisine similarly disregards much utilization of time for preparation yet still brings to its service the satisfaction they deserve . In addition , the timeless recipes done in the most careful manner and its constant stirring of the broad advocates never seem to fade out the aesthetics of French food Over 5 ,000 restaurants in Paris alone , patrons have been rushing in and out to discover the uniqueness of each chain . There are Bistros a smaller type of restaurant , Bouchon which produces traditional Lyonnaise cuisine such as sausages or roast pork . There are around twenty officially recognized traditional bouchons in France . There is also a place for coffee-lovers the Cafy which tables and chairs are usually on the outside and limited foods such as croque-monsieur and salads . There is also the advocated Bars which serves cocktails whiskey , pastis...
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...On 1 July 2007, Neptune Ltd acquired all the shares of Venus Ltd on an ex-div basis. Acquisition related expenses were $5 000. On this date, the equity and liabilities of Venus Ltd included the following balances: Share Capital $200 000 General Reserve 25 000 Retained Earnings 45 000 Dividend payable 10 000 Provisions 204 400 At acquisition date, all the identifiable assets and liabilities of Venus Ltd were recorded at amounts equal to fair value except for: Carrying Fair Amount Value Equipment (cost $80 000) $50 000 $53 000 Inventory $70 000 $80 000 Plant (cost $300 000) 186 000 190 000 Machinery (cost $18 000) 15 000 16 000 Trademark 100 000 110 000 Land 50 000 70 000 Fittings (cost $15 000) 10 000 10 000 Goodwill 25 000 52 000 Goodwill was written down by $5 000 in the 2008 year by Neptune Ltd as a result of an annual impairment test. The plant had a further five year life at acquisition date and was expected to be used on a straight line basis over that time. The trademark was considered to have an indefinite life. The machinery, which was estimated to have a further four year life at acquisition date, was sold on 1 January 2009. At 1 July 2007, Venus Ltd had not recorded a liability relating to a guarantee that was considered to have a fair value of $10 000. An amount of $6 000 was paid by Venus Ltd in June 2009 in part payment of this liability. The balance of this liability was still considered to be $4 000 at 30 June......

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Premium Essay

Consolidation

...On 1 July 2007, Neptune Ltd acquired all the shares of Venus Ltd on an ex-div basis. Acquisition related expenses were $5 000. On this date, the equity and liabilities of Venus Ltd included the following balances: Share Capital $200 000 General Reserve 25 000 Retained Earnings 45 000 Dividend payable 10 000 Provisions 204 400 At acquisition date, all the identifiable assets and liabilities of Venus Ltd were recorded at amounts equal to fair value except for: Carrying Fair Amount Value Equipment (cost $80 000) $50 000 $53 000 Inventory $70 000 $80 000 Plant (cost $300 000) 186 000 190 000 Machinery (cost $18 000) 15 000 16 000 Trademark 100 000 110 000 Land 50 000 70 000 Fittings (cost $15 000) 10 000 10 000 Goodwill 25 000 52 000 Goodwill was written down by $5 000 in the 2008 year by Neptune Ltd as a result of an annual impairment test. The plant had a further five year life at acquisition date and was expected to be used on a straight line basis over that time. The trademark was considered to have an indefinite life. The machinery, which was estimated to have a further four year life at acquisition date, was sold on 1 January 2009. At 1 July 2007, Venus Ltd had not recorded a liability relating to a guarantee that was considered to have a fair value of $10 000. An amount of $6 000 was paid by Venus Ltd in June 2009 in part payment of this liability. The balance of this liability was still considered to be $4 000 at 30 June 2009. ...

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