Azalea Seafood Gumbo Shoppe
1. What is competition like in the value added seafood industry? What competitive force seems to have the greatest effect on industry attractiveness from the standpoint of packaged seafood producers?
The competition in the value added seafood industry and the industry attractiveness can be evaluated by the Porter's five force model.
I. Barriers to Entry:
* Economies of Scale (Strong): New firms entering into the industry have to compete against the big players in the market as …
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…increasing the advertising budget substantially to increase the sale and to increase the brand awareness.
* Develop a plan and objective that company wants to achieve and develop an action plan.
* Cut down on inventory and revisit credit policy of the company, debtors owing money for more that 90 days should be asked for repayments. These measures will increase the cash flow in the business.
* Providing complimentary items with the products will also help increase the sale.
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