Marketing Plan For Ensis Fisheries: SWOT, PESTLE, And International Strategy

Business tools and frameworks

Make an effective marketing plan for Ensis Fisheries.

The primary objective of this task is to discuss about the marketing plan and its significance. Ensis fisheries company and tuna can chunks in oil product have been taken in the task and along with this, the selected hosting country company is cargills India. The SWOT analysis, pestle analysis, porter five forces analysis, international strategy and HR strategy also have been explained in the task. Furthermore, Hofstede cross cultural dimension model also has been discussed in the task briefly. Here is the discussion about the suitable entry mode and cultural issues that could affect the business of the organization. More detail of the task has been disused below.

Ensis fisheries is a primary and biggest tuna processing Corporation in the Maldives and incorporated in 1996. The organization manages and handles its business activities and operations in the international market. The organization is also recognized the social contribution of one by one fisheries to the local Maldivian communities (Corporatemaldives, 2018). To enhance and promote these social advantages the company works closely with the communities to bring ample of changes for the better by sponsoring community organizations as well as local schools. The firm entails of various business division such as Ensis fisheries, Thanbruma resorts, Ensis realty and Enzi Bakery. Ensis fisheries is known among its cutomers in Europe for its eco-friendly Tuna. The Tuna Can – Chunks In Oil is crammed in soyabean oil for a mild flavor for those who choose tuna packed in oil instead of water. United states sells such types of products effectively. This product is easy to store and it is available on suitable prices. The company is also worked across science, seafood sector and policy using evidence based solutions and framework in the marketplace (Ipnlf, 2018).

The business tools and frameworks play a significant role to analyze and identify the challenges and risks of the host country. It has been found that Ensis Fisheries Pvt. Ltd. can use pestle analysis to evaluate and determine the market conditions and risk of the Indian market. The pestle analysis for Ensis Fisheries has been stated below.

Political factor: It is noted that India is biggest self-governing countries across the world and it follows parliamentarian political system that is affected by the largely officers interest, and approaches of political parties. These factors can affect the business operations and activities of Ensis Fisheries in Indian market. India has developed and well built taxation system that encourage business activities and operations by different schemes tax rebate schemes. The political environment is suitable for the company to expand its business in India. On the other hand, corruption can affect the profitability and outcomes of the firm while producing the Tuna Can chunks in oil product India. It badly affects the production of Tuna Can chunks in oil product in the country (Bayley, 2015).

Pestle analysis

Socio-cultural factor: The social factors include custom, values, attitudes and rituals of the people. The country approx 1.2 billion population in which around 70% population is the age group of between 15 to 65. Due to this, Ensis Fisheries has an excellent option to cover the entire market of India with existing and new customers. The country follows a strong and unique caste system and due to that they are able to restrict on the free mobility with people who follow other religion. Along with this, people have very strong traditional family values thus they do not prefer fish products. It can affect the success and growth of the firm adversely. Before initiating and producing the Tuna Can – Chunks In Oil product India the company needs to analyze and evaluate the needs, preferences and demands of the customers (Sridhar et al, 2016).

Economic factor: Sine the introduction of the industrial development policies in 1991, the wealth of the country has been effectively steady. As per the policy liberalization of foreign capital, decline in industrial licensing and formation of FIBP have constantly improved the economic environment of the country. The current GDP of the country is 2.26 lakh crores USD and GDP growth rate is 7.36% which is higher than 2017 (6.74%). All these factors could affect the sustainability and production of Ensis Fisheries in Indian market. The firm needs to focus on these factors to stand out against the competitors in the Indian market.

Technological factor: It is one of the significant factors that can affect the targets of Ensis Fisheries Pvt.Ltd in Indian market. The technology significantly affects product development and also the country also introduces fresh and innovative cost cutting processes. India is serving with both 4G and 3G technology that has provided ample of their technological projects. Along with this, the country maintains one of the significant and strong IT sectors in the marketplace to promote and encourage the IT development and other technological advancements. The company needs to focus on the technological advancements and innovation like use of online tracking system and online sales to reduce the cost and efficiency in communication with global and potential customers as well.

Legal factor: Currently, legal factors also affect the growth and success of the firm adversely. It is noted that wage rate is increasing in the country. In addition, discrimination regarding disability also affects the business activities and functions of Ensis Fisheries in Indian market. Due to these specific changes in the legal element the company is secured and quality of fish product is lightened (Shukla, Shankar and Singh, 2014).

SWOT analysis

Environmental factor: It has been found that quality of air in India has been influenced by urbanization and industrialization. This will also affect the health of people in the global market. Various environmental challenges such as water pollution, air pollution, resource depletion and resource issues are faced by the country in today’s competitive world. The company needs to determine and analyze all these issues to flourish the business operations in Indian market (McAlpin, 2014).

SWOT analysis is other tool to analyze and determine the opportunities and threats of the marketplace. It will also help to know and measure the external threats and opportunities of the market. The SWOT analysis for Ensis Fisheries has been discussed below.

Strengths	Weaknesses
· Only the firm in Maldives and internationally as well with both the fair trade USA and MSC. · The company’s products are unique and effective sell in the Indian market. · There is no export company in Maldives. · There fish products are up to market in the quality (Rimmer, 2013).	· The company buys the fish from local fishermen and their supply of raw material would be influenced by the change in environment and season that cannot be managed and controlled. · Lack of technologies and trained personnel in the Maldives. · Inadequate marketing infrastructure and processing.
Opportunities	Threats
· The people are becoming more aware about the fish products and services and how they are produced. · Ensis only company to sell Tuna in pouches. · To render employment opportunities in the fisheries sectors. · Due to availability of choice sport fishing and seafood, the scope for tourism is increasing.	· The pouching by foreign fishing vessel. · There is high and immense competition in local market. · The sources of raw materials uncontrollable and unpredictable (Al-Busaidi, Jukes and Bose, 2016).

It is one of the effective and attractive frameworks to examine and measure the plans, policies and plans of the rivalries in the global market. The porter diamond model for host country has been detailed below.

Factor condition: It is the situation of the nation which is direct related with the production elements such as fish products therefore these elements associated with competitiveness in the particular business. It is noted that India is tormenting a huge setback of its poor and ineffective infrastructure that needs an ample of attention going forward to attract and retain investments. It is one country only who can decline the production cost effectively because of the availability of cheap and effective labor for producing fish products. Technology advancement and development could also render ample of advantages for Ensis fisheries in the Indian market.

Demand condition: The demands of the customers are demanding and sophisticated in India. The customers need the product to be strongly and highly standardized and need to be full of quality. The market size of the country is much wider and effective to sell the Tuna Can Chunks In Oil products. The country always exist an interaction between transportation costs, size of home market and economies of scale (E. Dobbs, 2014).

Related and supporting industries: The success and progress of the firm depend on the presence of suppliers and related to the fish companies in India. The current competitors in India in Siam Canadian Limited, Aqua Sea food pvt Ltd, Cargill, Reefberry foodex pvt Ltd and Angelplus foods who are producing same products as well Ensis Fisheries. Cargill India is one of the significant threats if Ensis fisheries expand its business in Indian market. The company needs to focus on the competitors products to maximize the outcomes and profitability.

Strategy, structure and rivalry: It is the factor related to the manner in which the company is formulated and handled its objectives and analyze the competitors within its own organizational culture. Ensis fisheries focuses on the circumstances in India that evaluates the progress and growth. The cultural attributes play an empirical role in this. It is noted that India has shifted from socialist country to capitalist economy. There is an open and unique market economics for the fish products produced here. Thus, there is high and intense competition in the Indian market in fish industry (Yáñez et al, 2017).

Government: The governments play a significant role in promoting the growth and expansion of the industries and organizations both at abroad and home country as well. The Indian government has made various policies to better its competitive benefits. Right to education, and employment guarantee act have served to the advantage of the masses. On the other hand, competition will affect the operations of Ensis Fisheries adversely (Rothaermel, 2015).

Chances: With effective democracy, self efficiency and demographic dividend in ample of resources and ambition to become a great and strong power, thus the company can take ample of opportunities in the Indian market.

(Source: https://www.12manage.com/methods_porter_diamond_model.html)

It has been found that porter diamond model provides ample of benefits to the company. It helps in attaining rivalries market in the international market. No organization can attain competitive benefits without using porter diamond model.

There are ample of risks faced by the company while expanding and exploring the business in the Indian market. Some of the potential risks are discussed below.

Higher transaction costs: One of the biggest risks that beard by the company while entering in the Indian market is transaction cost. The transaction cost is depending on the foreign market. It is noted that brokerage commission is higher in India rather than Maldives. Along with this, the firm has to pay stamp duties, clearing fees, exchange fees and levies taxes. In addition, the company will have to hire analysts and researchers who are familiar with the market and data collection in India. All these fees need to pay while entering in the Indian market.

Currency volatility risk: It is another concern for the company that will have to be faced by the firm. If Ensis fisheries invests money in the Indian market then it will have to exchange their domestic currency into the foreign currency in order to buy the foreign stock. It also may influence the outcomes and outputs of the organization in the foreign market (Czinkota and Ronkainen, 2013).

Liquidity risks: Another risk in the foreign market is liquidity risk. Due to liquidity risk, the company is unable to sell the products in the Indian market.

Political risk: The political risk is interconnected with government of the foreign market. It includes government regulations, norms, rules and investment restrictions.

Economic risk: The economic risk is specifically important in regard to economic volatility, exchange rate, international competitiveness and economic volatility. All these types of risks are encountered by the company while functioning in the Indian market (Henisz and Zelner, 2015).

An Ensis Fisheries is an organization based in Maldives, in response to which the company required to expand their activities in the market in which there is strong demand of the Tuna Can and the product looks appealing to the prospective customers as well. So, the company selected the country India to expand their activities, the market of India has low competitive pressure but high prospective buyers that can help Ensis Fisheries to revenue. Further, the company selected the mode of ‘joint venture’ to enter in the market of India. Joint venture is an expansion strategy under which an organization pool its interest with another organization settled in another part of the world and accomplish specific tasks accordingly (Lasserre2017). Under this process, the expanding organization gets to the share the goodwill, resource and the people of the company that helps them to initiate their services easily in new target market. Cargill India is an organization present in India that is involved in providing meat, poultry, animal nutrition, food products etc. to the customers in the target market. Sustainable activities of Cargill India will successfully help the company Ensis Fisheries in succeeding in their objective of expansion (Johanson, and Mattsson 2015).

The joint venture strategy will help the company to easily identify the risks present in the food and beverages market of India and will protect the company from taking wrong actions as well. Cargill India will help the company to enter in the target market with a brand name and easily attain resources and optimum customers as well (Musso and Francioni, 2014). Resulting to which, the company will not face difficulty in organizing their activities from the scratch in new market. Subsequently, this will help the company to gain rivalries benefits as well. The company Ensis Fisheries will share the resources of Cargill India along with its brand name with the help of which they will successfully initiate their activities in India. As Cargill India has already gained the trust of customers in India through their products so the same customers will insist themselves to buy the products of Ensis Fisheries as well (Mata and Portugal 2015).

(Source: https://www.researchgate.net/figure/Entry-modes-characteristics_fig1_242344782)

To overcome the potential risks in the Indian market, the company needs to use secure and safe payment methods to earn maximum outputs and returns. Along with this, the firm should maintain a meaningful and trusting relationship that facilitates commercial exchange is priceless. Along with this, Ensis Fisheries should also maintain good and strong relationship with partners and competitors to cope up with rivalries. In addition, risk management is used by the company to manage and handle the potential risk in the foreign market.

Internationalization Strategy

Internationalization strategy refers to the strategy under which the business process implements activities that helps them to initiate their activities for expanding the scope of the business. Further, there are four different types of internationalization strategy that are global strategy, transnational strategy, international strategy and multidomestic strategy. Further, the company Ensis Fisheries should make use of the multidomestic strategy to promote the activities of business in the country India. Multidomestic strategy refers to the strategy under which the business molds its activities in such a way that so as to meet the domestic requirements of the customers present the different market (Rothaermel2015). As the people living in different parts of the world do not have similar taste buds due to which the companies fails to meet the expectations of the customers present in different market. So, the people living in India might not like the taste of Tuna Can- Chunks in Oil in the similar taste as people present in Maldives prefer it; resulting to which the company should adopt the multidomestic strategy that will help them to succeed in the Indian market as well (Brouthers, Nakos, and Dimitratos2015). With the help of this strategy the company will analyse the local market and features present in the market that can help the organization to fail or succeed. According to which the company should alter the products and services provided by them in such a way so that the customers like the products and services offered by them. This type of international strategy gives preference to different dimensions present in the present worldwide and helps the company to form strategies in such a way that people do not distinguish the company as foreigner organization (Gillespie, and Riddle 2015). Thus, this strategy will help the company to easily settle in diverse market and gain efficiencies as well (Gillespie and Riddle, 2015).

HR Strategy

The company Ensis Fisheries should make use of the geocentric HR strategies in order to attain success in the target market. Geocentric approach refers to the approach under which the HR manager of the company recruits people on the basis of their talent. Under this strategy the human resource management of the company does not focus on the nationality, religion or region in which the person lives but their talent. Irrespective of the geography, the company aims to hire the best people for their organization. If the Ensis organization would go for finding the talent based on the nature of people present in Maldives, then the company will face difficulty in managing the activities in India (Wach2014). Thus, the company should focus on adopting the geocentric human resource recruitment strategies to recruit people in the market of India. Thus, this strategy will help the company hire people in India that can tell them the market feature present in India and they can also help the company to gain competitive advantage in the target market.

Marketing Strategy

The firm should make use of the one level marketing channel to promote the activities of the business in new established market. This channel of marketing will help the company to eliminate high degree of intermediaries in the activities of organization and balancing all the work accordingly. Under this channel the company will initially sell the manufactured goods to the retailer and then the retailer will sell the goods of the customers. The company should make use of similar packaging, color, graphics and labeling so as to relate the products and services offered by them with that in Maldives. The label should include both the languages English as well as Hindi according to the culture present in the country (Armstrong,Kotler,Harker, and Brennan 2015). Lastly, the organization should promote the activities of the business on different channels of media. The company should take care of the different norms and regulations set by the government on media use. The advertisements and promotions should not hamper the interest of the customers in any way.

Cross cultural dimension model

The Hofstede cultural dimension model helps Ensis fisheries company to know and analyze the culture differences in home country as well as host country. The Hofstede dimension model for India and Maldives has been detailed below.

Cultural element	Home country condition(Maldives)	Host country condition (India)
Power index	It is noted that Maldives is currently shifting from a high power index to a low power index culture. A more fundamentalist approach is used by the country (Wintle, 2014).	India has scored around 77 in the power index that is higher than the world average 56.5. India is a culture with high power distance where the employee depends on the people with high status with unique and effective power (India.2018).
Individualism vs. collectivism	It is believed that Maldives also is fairly and effectively a collective culture with heavy and strong pressures upon individuals to follow what is collective rules and norms of the community.	The country follows collectivism society where the business relationship is viewed as sustainable as well as long term. In collectivism, the country has scored 48 in the world. In the workplace, promotional and hiring decisions are generally based on the relationship. The relationships are the key success factor to the collectivist society.
Masculinity versus Femininity	It has been found that Maldives follows a masculine culture which values material growth and progress over quality of life (Wintle, 2014).	It is noted that India is a masculine country who has scored 56 in this dimension. The country is masculine in terms of visual displays of power and growth. The country focuses on the achievements and success.
Uncertainty avoidance	The uncertainty avoidance is strong in Maldives country. The desires and feelings are uncertain and ambiguous in the country.	The country has scored 40 in this dimension. India is a patient country where the tolerance power in the people is high.
Long term orientation versus short term orientation	The country follows short term orientation culture. Ample of values and norms are interconnected with short term oriented cultures that can be seen in Maldives culture (Wintle, 2014).	India has scored 61 in long term orientation dimension. The country follows the concept of Karma. The country has a great tolerance for religious view from all over the world (India.2018).

If the company is unable to reduce the cultural differences then ample of issues could be faced by the company. Cultural differences also affect the communication, organizational goals, and leadership styles. Along this side, the firm will have to bear ample of loss in the foreign market. Language issues could also be faced by Ensis Fisheries while functioning in Indian market (Verbeke, 2013).

Various factors affect the culture of company such as market supporting institutions, political risk, host market size and cultural distance. All these factors may influence the returns and outputs of the firm adversely (Borzykowsi, 2014).

Some recommendations have been given to gain competitive advantages in the foreign market that have been detailed below.

It has been found that Ensis fisheries should focus on the product strategy to develop Tuna Can chunks in oil products in the Indian market. It will help the firm to meet the long term necessities and desires of the customers in the marketplace.
In addition, the firm must also focus on the pricing strategy to beat the rivalries in the international market. The organization should differentiate its products from the competitors to make a dynamic image in the minds of the customers in Indian market.
Along with this, Ensis Fisheries needs to focus on the promotional and advertisement strategies to promote and improve the quality of the products.
Effective place strategy should also be used by the firm to increase the sale and revenue in the global market. It has been found from the various analysis that diversification strategy can also provide a good option to the customers for enhancing the Tuna Can chunks in oil products in the Indian market. Thus, the organization should uses diversification strategy to diversify its products from the competitors.

Conclusion

It is evaluated from the above mentioned study that effective marketing strategies are used by Ensis fisheries Pvt.Ltd while expanding and exploring the business activities in Indian market. The report shows that various frameworks and tools such as SWOT analysis, pestle analysis and porter five force analysis are used by the company to analyze and determine the risks and obstacles of foreign market. Ensis fisheries is preparing to produce and sell Tuna Can Chunks products in the Indian market. The organization also uses effective entry mode to run the business operations successfully. Along with this, the firm uses unique and dynamic international strategy, HR strategy and Hofstede cross cultural dimension model to reduce the challenges and hurdles of foreign market. All these strategies will help the firm to stand out against the rivalries in the global market. At the end, some suggestions have been given to gain long term rivalries benefits in the international market.

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