Clearwater's Seafood: Market Leadership in the Seafood Industry
Since they were the first to build fishing vessels, develop new technologies, develop new product lines, and make other innovations that would enable their company to make money and ensure sustainability, Clearwater's Seafood is the market leader in the seafood industry. They also have enormous market shares. They are set up so that the executive serves as a link between upstream fishermen and downstream processors, allowing the items to reach customers on a weekly basis. Additionally, there are trade-offs between a company's short-term cash flow and its long-term ties with high-end clients (Boots, 2016).
Investments in Technologies for Harvesting, Processing, and Storing Food
By acquiring a fleet of vessels, Clearwater has made significant investments in the technologies for harvesting, processing, and storing food. This is to enable consistent supply of high quality products. For example in the lobster business, they have developed a method of storing live lobsters, reducing their mortality rates and enhancing their quality so that they can sell them consistently and earn higher better prices. They have also invested in equipment that gives them better and reliable scientific information on the distribution and size of their target animals. The equipment also shows the material and contour of the seafloor enabling fishers to focus their operations on areas with the target animals. The return on that investment is high thus reaping lots of profit (Boots, 2016).
Focus on Value, Quality, and Customer Experience
Clearwater's marketers have come up with ways of ensuring that the consumers not only consider the prices of commodities but also other aspects such as, value, quality, taste, the eating experience among others. Therefore, they have resorted to approaching the high-end restaurants and retails who tend to overlook on the price factor. Most of the grocery stores and few end customers normally consider the price of commodities rather than the other factors. By building a stronger and lasting relationship with the high-end restaurants, and ensuring their new value-added innovations they come up is customer driven, their sales are likely to multiply. Sustainability is vital in every business and thus, Clearwater ensures that it is in the core of its business. It works with organizations to increase the traceability of seafood so that they can consistently meet the demand of the consumers in the market (Boots, 2016).
References
Boots, M. (2016). Advancing the Global Marketplace for Sustainable Seafood: The Seafood Choices Alliance. SEAFOOD Ecolabelling, 143-160. doi:10.1002/9781444301380.ch7
