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MIFCO Case Study Essay

3618 Words15 Pages

In this assignment, I have written a consultation report to the Chief Executive Officer of MIFCO, in this report I have discussed about the different marketing strategies used by MIFCO in order to promote their products, the segmentation of markets and market targeting. As in the modern business world, technology have made it Globalization and the completion is also growing due to globalization concept, the business faces more challenges while they wanted to grow internationally.
Over the past few years MIFCO have been facing a very tough competition in the international markets as well as in the local market due to more imports, so the company management have given much importance to give training to the staffs of company in different areas …show more content…

The clean and clear water of Maldives supported by great quality of fish has always kept the sales number of MIFCO on high, especially in Europe (MIFCO, 2014).
Question 2
2. Assess current market segmentation, market targeting and competitive positioning, with recommendations for change to improve future market relevance for business sustainability and success.
Market segmentations of MIFCO
Market segmentation is the grouping of customers and characterizing them in a relevant manner to ensure that the product or service is aimed at the right consumer or customer. The objective is to help determine marketing strategies and realistic marketing objectives by understanding customer trends and buyer behaviors. Brand loyal customers are those who have been using the MIFCO fish products and prefer it over the other brands. MIFCO have divided its market in different geographic locations,
 Local/ National/ Atolls
 International (South Asian Countries, European countries)
Market …show more content…

HACCP (Hazard Analysis Critical Control Points) is a total quality management system with emphasis on a safety based on a systematic approach for identification, assessment and control of hazards. It is a preventive control system in which hazard is controlled or eliminated before it occurs. It concentrates on prevention strategies on known hazards and the risks arising out of them occurring at specific points in the processing schedule. Annual audit by the technical advisor to assess the actual validity of the preventative, monitoring and corrective procedures need to be implemented. This audit will encompass evaluation of the HACCP records, the equipment maintenance exercise, the calibration of the monitoring instruments and procedures (Fish products and Byproducts Technology,

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