The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits Strategic Planning is looking at where you are now, knowing where you want to be in the future and planning the steps to get you there.
The Stingrae Caribbean a limited liability company. The Stingrae brand currently distributes seafood products through out Trinidad and Tobago and the Caribbean. Products in the Stingrae line includes:- squid, crab backs, crab meat, shrimps, prawns, lobster (live and frozen), flying fish, white salmon, pink salmon, counter caviar, fillets of white fish, mussels, octopus and a variety of other seafood products.
Stingrae is a distributor and wholesaler in seafood products, is about to launch one of its new its products crab cakes into the market, using Market Development.
Crab Cakes has been one of the products on the Stingrae brand exclusively available to hotels and restaurants. The marketing plan seeks to launch the product to everyday consumers and caterers while still supplying to its existing market the hotel and restaurant chains.
Demographic Cultural and Social Analysis
After looking at trends in the market and seeing that consumers are becoming more health conscious and the need for food that is easy to prepare it was decide that this product would do well in a consumer market made up of mid and upper mid income families and individuals. The product will reach out to the working class and the decision maker of the household the company looked at the following •Lifestyles
•Income and financial status
•Change in work patterns more mothers are part of the working force making households where both parents are working •Single parent households