Neptune Gourmet Seafood is North America's third largest seafood producer, known for its high quality product, sold at premium prices.
NEPTUNE GOLD Your #1 Premium Seafood Brand
Thanks to new technology, Neptune can catch bigger and better fish. Take that, competition!
Neptune Gourmet Leadership
However, more efficient fishing means higher inventory - too high! Neptune's sales and marketing directors discussed what could be done to mitigate the problem.
Rita SanchezSales Director &Bigger Picture Seer
We should cut prices by 50%. We can create a new low-price product!
Let's take it to the council meeting.
That's crazy talk. Our premium brand perception would suffer!
Jim HargroveMarketing Director &Brand Protector
Later, at the Marketing and Operations Council meeting, Rita presented her proposal. She was met with some resistance.
But then our customers will realize both brands use the same fish and then will inevitably switch to the cheaper brand!
Rita's Proposal: Neptune's SilverA low-price, secondary brand to Neptune Gold.Pros:- Sell more inventory- Appeal to value-minded customers
The wine industry did something similar already - Bronco Wines used the overflow inventory of grapes to make a cheaper wine. Now, wine sales have grown because it's more affordable. Consumers are becoming healthier and opt for seafood more - why can't we do the same thing?
Pat GilmanHead of Institutional Business & Wine connoisseur