Measuring Corporate Sustainability Performance †MyAssignmenthelp

Question: Discuss about the Measuring Corporate Sustainability Performance. Answer: Introduction Tassal is an Australian company that is headquartered in Tasmania. . Tassal deals in fresh agricultural vegetables that are healthy and of high quality. Tassal specializes in supplying the Tasmanian Atlantic salmon which is mostly produced in pristine waters which belongs to the company. The company is listed in the Australian Stock, ASX (Wallis, 2011). It was listed in the year 2003.The company aims at achieving excellence in its operations while at the same time protecting the core values of the company. The core values of Tassal include optimizing quality, community concern as well as environmental care and conservation. The company seeks to position itself as the premium supplier of healthy and tasty salmon. The company is very sensitive to the needs of consumer and this principle guides the company in making decisions on improvements of products and services(Bergmann, 2016). The vision of Tassal is to create a better tomorrow. the mission of the organization is to bring sustaina bility health and human well being to the environment and communities in which the company operates , as well as the customers of the company(Keillor, 2007.) The company recognizes the need for collaborations between all stakeholders of the company including suppliers, customers, and employees as well as shareholders. Marketing background of Tassal and industry analysis The company has different methods that it uses to market itself and its products. A combination of these marketing techniques and strategies helps the organization to achieve desired results in terms of profit levels as well as attaining their sustainability goals. Tassal believes in producing fresh and premium quality salmons which have no match in the market. Some of the products that the company produces include smoked, frozen and canned Tasmanian Atlantic salmons. The company therefore has over the last 25 years positioned itself as the market leader in growing and supplying of premium salmons. The marketing of the products of the company is therefore meant to reach customers who are very health sensitive since the products of the company are produced in a very hygienic environment and are organic. This minimizes the risk of toxins being accumulated in the food products hence reducing the negative effects on consumers. Tassal is operates in the agricultural and retail industry. O ne of the core values of the company is providing safe and healthy salmons to customers. In its marketing activities, the company is always committed to fulfilling this core value by offering very healthy products to customers. This is achieved through the sustainability efforts undertaken by the company. This includes environmental sustainability, social-cultural as well as economic sustainability. On the environmental sustainability, the company has educated professionals who ensure that all the production activities of the company are environmentally friendly. Tassal also has professionals to cater for the welfare of all the salmons that the company produces. Among these staff are fish veterinarians who ensure fish produced in the firms is healthy. The company has a selective breeding program that is very unique. It helps in breeding of salmon for conditions of Tasmania(Hermesch Dominik, 2014).The breeding program of Tassal is based on the traditional breeding practices that do n ot involve use of chemicals. Furthermore, Tassal does not farm GMO salmons which mean that the product is completely natural and unmodified. Environmental sustainability is achieved in Tassal through various programs and activities that encourage conservation of the natural environment in which salmons breed. Since the salmon spends the hatching and breeding stage in fresh water, it therefore means that the company has put in place various measures to ensure the water is not polluted and is suitable for breeding of salmons. Tassal also achieves sustainability in the environment by avoiding the use of drugs on salmons,. However when they are sick, antibiotics are admitted to the sick salmon after which it is put into isolation for a given period of time. The company has sophisticated monitoring and programs that help in conserving the ecology (Tybout Calder, 2010). Tassal also engages in various research activities to help in solving issues arising in the environment. Social cultural sustainability is also a top priority for Tassal. The company supports local community activities through sports clubs, schools and nonprofit making organizations. The company supports these activities by providing financial support as well as technical support where possible. Tassal has also reached an agreement with the members of the community to share the marine resources and conserve nature. Tassal shares a goal of ensuring a healthy ecosystem and balancing between business interests and community interests. Tassal supports various groups through donating and sponsoring. Some examples of groups supported using this program include, Working on water, Channel football and cricket club as well as Huon Business Awards(Ottman, 2011). Economic sustainability is also very crucial objective of the organization. The company aims at making a difference economically both locally and nationally by using production procedures that are efficient and sustainable. Tassal has greatly boasted the economy of areas in which it operates. This has happened through creation of employment in the marketing, finance and the sales departments of the company. Tassal has also helped in expanding of local economies by creating attracting investors into the area in which the company operates. Marketing strategies and marketing mix The company deals with many brands of products which are basically under frozen category, canned, fresh or smoked products. The product portfolio of the company include Fresh Atlantic salmon which are supplied to all shops, including supermarkets, seafood tuck shops, and fresh fish parlors. The Atlantic salmons are sold in different packaging weights. They can be found in 160 and 200g cans. The products are very nutritious and their energy contribution is estimated to be 861KJ of energy, 20.9g of protein content, have a total fat content of 13.7g just to mention the main constituents (Oddy, 2008). The fresh portions can either be premium Tasmanian Atlantic portions or Whole Atlantic Salmon (Roth, 2014). The product consumption depends on age of consumer and appetite level. Another product by Tassal is the Tasmanian rashers which can be smoked in beech wood chips to give tasty Smokey flavors coupled with eggs. They are mostly consumed for breakfasts. The average diet of an adult of 8700KJ will determine the daily intakes percentage. It has also been regarded as a good source of omega 3. The rashers are packages in 100g or 200g packets Tassal also sells roasted Salmon which has been canned. The packaging is done in 410g spring water and can either be boneless or skinless. The roasted salmon is famed for its smoky flavor sensations. The product is a very rich source of energy and protein and its ideal for a large family meal. The company also has Tasmanian Salmon and rice. It contains a lot of fiber and is produced using grown Atlantic Salmon as well as Mexican brown rice with flavors. Kidney beans and capsicum are also used in making this product. It is rich in protein and its a great source of energy. The company also deals with frozen salmon which can be either Premium Tasmanian Lemon or cracked pepper. This product mostly targets consumers who do not consume salmon. The company mostly targets women to buy this product who are in their young adult stage of life. The production processes are very environmental friendly and they help in conserving the ecosystem. This is because, the companies avoids as much as possible the use of chemicals at any stage of the production process (Keillor, 2007). Tassal is very keen when setting a price for their products. This is mainly because, the demand of almost all of the companys products is highly elastic to changes in price. This therefore means that an increase in price may cause a corresponding decrease in demand.(Marich, 2013) Decrease in price also causes a large increase in demand. The company sets prices for its products depending on a combination of variety of factors. Some of these factors include production costs, profit margin targets as well as depending on the availability of the product and the demand of the same. The company increases prices during summer due to limited access to the products in relation to demand. Products are also priced depending on their quality with premium products retailing at very high prices and their quality is high. Economic sustainability is achieved by offering products at reasonable prices that consumers can afford. Price of products also ensures social-cultural sustainability since an aff ordable price will mean many people in the society can afford to buy the product. Tassal mostly depends on direct distribution channels to reach its final consumers. This is made possible by the big number of shops the company has opened in different areas across the region. The products of the company can also be obtained from other retailers who buy them from the company. Such retailers include supermarkets and small retailer fish shops. The distribution system of the company is meant to maximize the number of customers who can easily access the product conveniently. The company has established shops at every local level in Australia both in retail and wholesale. It has gone further to understand the market they target i.e. middle age females and married couples involved in business (Dun Bradstreet Corporation, 2009). Strategies in place include intensive distribution, exclusive distribution, selective distribution, and franchising. The company also sells its products online after which delivery can be done to customers. Sustainability is achieved by using efficient distribution methods such as sharing transport means to ensure environmental sustainability by reducing air pollution. Product promotion is very essential for any product or organization to become successful in the market. Part of the reason why Tassal has been successful for so long is proper utilization of promotion as an element of marketing. Tassals uses various promotion techniques that are either used separately or are combined to bring about the desired results for the organization. These techniques include radio advertising, print media advertising, use of free gifts, participating in trade fairs and exhibitions as well as branding their products with the companies` logo and philosophy statement (Brinker, 2016). The company publicizes itself by sponsoring sporting activities and hospitals urging people to consume the products of the company in order to become healthier. Comparison of marketing mix of Tassal to that of competitors In order compare the product mix of Tassal, it is important to determine what are the strengths and weaknesses of the company. To determine the strengths and weaknesses of Tassal, an analysis of the internal and external environment of the company is necessary. The analysis will be done using the SWOT analysis technique. The comparison of the four ps of marketing of Tassal and its competitors also requires identification of major competitors of the company and analyzing its 4 ps (Dimson,Marsh Staunton,2008). The following are the strengths of Tassal: One of these strengths is that the abundant resources, physical, financial and human resources. This resources are a source of competitive advantage for the company and hence giving Tassal an edge over rivals in the market (Tom, 2017). The brand of the company is strong and therefore the consumers have faith in what the company offers them. Tassal does not have to do a lot of advertising since it already has a strong brand which has created customer loyalty. The large size of the company also helps the company to enjoy economies of scale on production and therefore its able to offer its products at a lower price than competitors(Weber, 2009).. Highly qualified staff help the company to be innovative and grow at a very fast rate while at the same time achieving the core values of the organization The seasonality of agricultural products also affects the company even thou it does not depend much on natural methods of production. Supply of products reduces at times due to the failure of the company to properly manage supply chain especially at the initial stages(Hack and Berg, 2014). The increasing health concern among consumers in Australia means that more and more people will be willing to consume products that are naturally produced and do not have chemicals. The demand for Tassals products will therefore increase hence presenting the company with an opportunity to open business in all corners of the country (Cuganesan,Guthrie Ward, 2010). The company also has an opportunity to diversify and produce other types of fish. The main threat for Tassal is competition from local rivals such as Huon Agricultural group. Increased importation of the products produced and distributed by Tassal is eating up the market share of Tassal(Tassal,2016.). The company therefore should take the right steps to neutralize these threats Comparing Tassal 4 ps and competitor 4 ps The two main competitors for Tassal are Huon Aquaculture and Petuna sea foods. These companies offer very stiff competition to Tassal and therefore it is important to analyze them. Both Huon and Petuna offer products that are very closely related to those offered by Tassal. The only difference between the products is in branding, grading, packaging as well as design(Weinberg, 2009). The products are slightly differentiated in order to attract customers. Tassals prices are high compared to those of the two main competitors. This is because the company has positioned itself as the market leader in terms of producing premium healthy salmons and hence setting higher prices. Most of the competitors also use direct distribution methods. The competitors also depend so much on middlemen in order to reach the final consumer. Even though both Huon Aquaculture and Petuna have shops, they are not as widely distributed as those of Petuna. The promotion methods used by all three competitors are entirely the same. The design of the message and positioning of the company and the product however varies Recommendations The following are the actions and the strategies that should be undertaken in order to improve marketing of Tassal: Efficient marketing, product promotion efforts will help in improving marketing mix of Tassal. The company should use promotion techniques that are cheap, effective as well as sustainable. Adoption of these methods will help the company to save on promotion costs and this can be transferred to the final consumer hence lowering prices of products. This is very important in the phase of strong competition from foreign imports and local competitors. This move will also help in raising sales volumes of the company. The promotion methods that should be used include social media advertising and internet advertising through the companies` website(Kocmanov et al., 2016). The company should improve its marketing mix by expanding its product portfolio. This can be done through horizontal diversification or vertical diversification. The company should start producing other sea foods. This will increase revenue streams of the company. This move will also contribute to environmental sustainability since it will result to an healthy ecosystem(Pride Ferrell, 2010).The companies marine farms have been accredited. They have also helped to reduce overreliance of fish meals and fish oil feeds. Replacing nets from treated copper nets to kikka nets will contribute greatly in improving marketing mix of the company as well as contributing to environmental and economic sustainability. The company should reduce the length of the supply chain by reducing or eliminating middlemen. This move will help in reducing the price of products on the final consumer. The move will also helps in socio-cultural and economic sustainability since consumers will not be exploited by the middlemen(Nicol?escu, Alpopi and Zaharia, 2015). The reduction in length of supply chain will result to increased efficiency as well as help in delivery of products to customers on time. Conclusion Sustainability is very important incorporate organizations since it helps in guiding organizations to use resources in such a manner that the resources will be used to benefit future generations. It is therefore very important for an organization to incorporate sustainability goals and objectives in its business plan as well as in its marketing plan so as to ensure that all activities or projects undertaken by the organization contribute to sustainability. 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