Case in point • Norcod, a cod farming company, reported a significant increase in revenue for the second quarter compared to the same period in 2023.• The company also presented its new marketing strategy, where it plans to market its cod in the same way as salmon, called “the white salmon from the sea”.• Communications director Chris Guldberg emphasizes that this strategy is intended to distinguish farmed cod from wild-caught cod and make the product more understandable for customers.• Professor of marketing at BI Business School, Lars Erling Olsen, believes that the new marketing strategy can be perceived as misleading , but believe that Norcod can succeed in creating a strong cod brand. The summary is made by an AI service from OpenAi. The content is quality assured by news’s journalists before publication. Norway’s largest cod farming company, Norcod, presented its new marketing strategy last week: The company will market its cod in the same way as salmon. – We call this the white salmon from the sea, said communications director Chris Guldberg during the presentation, according to IntraFish. To news, Guldberg clarifies that the new marketing of so-called “Snow Cod” is a move for customers around the world to understand the concept of farmed cod. Professor of marketing at BI Business School, Lars Erling Olsen, believes it is misleading. – I support branding, but I think they can adjust their strategy. “Snøtorsk” Guldberg in Norcod will not agree that the new marketing can be perceived as misleading. – It is about distinguishing farmed cod from wild-caught cod. Customers simply need to understand what this product is. Our cod is very different. The qualities and characteristics are more suitable with salmon. – Wild cod is fantastic, but the quotas have decreased. And there is demand for that type of protein in the world. then the white cod is not to compare the fish products, but more to compare the form of production and that, then. And try to distinguish it from wild-caught cod. Photo: Torkil Stoltz / news He is clear that it is the salmon industry that they take inspiration from when they now go out into the world. In the quarterly presentation, the company writes that they want to salmonify cod farming, or in other words: recreate the market success Norwegian farmed salmon has had. In the quarterly report, the company writes “In order to position our farmed cod at a more premium level than the market for wild-caught cod, we have launched the Snow Cod brand in selected markets. We are now working with the Norwegian Seafood Council and industry partners to exploit this brand positioning and develop it into a premium, differentiated brand globally. This includes a repositioning of farmed cod as the “white salmon”, as our product belongs in this product category rather than in the wild cod category. “Laksification”, i.e. recreating salmon history, is our strategy: 1) reliable supply of high-quality, sustainable cod year-round 2) A versatile product that fits well with consumer trends. Just like salmon, our product is versatile and fresh, perfect for grilling, baking, enjoying raw in sushi and sashimi, as well as its unique properties as a smoked product. Our commercial plan rests on three pillars: • Repositioning, branding and increased awareness • New products and areas of use, which show and exploit the versatility of farmed cod • Building new and existing growth markets. (The text has been translated from English to Norwegian by an AI service from OpenAi. The content is quality assured by news’s journalists before publication) – Many of the customers buy and distribute salmon before. That is why we have used “the white salmon”. It is about the production and how it can be consumed, says Guldberg. He further says that the farmed cod has great potential to be eaten raw in sushi and sashimi. But first approvals from the authorities must be in place. The name “busy” news has previously written several articles about the flounder, which was called “shitfish” and used for animal feed. Today, vassilda is marketed as white salmon, and is the most used fish in Norwegian fishcakes and fish balls. – Using salmon as a term for cod is strange. So says Lars Erling Olsen, professor of marketing at BI Business School. Professor Lars Erling Olsen does not think it is correct to use white salmon in the description of farmed cod. He believes the company should adjust its strategy. Photo: BI Business School – Norcod itself will not agree that it is misleading. The brand name is Snow Cod, isn’t it? – How can you say that it is not misleading? Salmon is a clear category and a species. This is not salmon. At the same time, he believes this is about something else: A tribute to the Norwegian salmon industry. – Salmon has a status and is perceived to be quality. Here you try to connect to the concept of salmon. Farmed cod at Nofima in Tromsø. Photo: Dan Henrik Klausen – Do you think they will succeed? – I think they can succeed in creating a strong cod brand, says Olsen. But he is more critical of whether anyone in the Norwegian market will buy cod, which is called white salmon. – You will laugh at that. In other markets it can be successful, but I don’t think it should be. It is not right, he says. Strict rules for marketing Guldberg in Norcod is clear that the term “the white salmon” must be used with distributors, so that they understand this fairly new product. – We are careful to use quotation marks, so that this is not misunderstood, he says, and clarifies: – The branding towards the end customers, that is to say those who buy our products in shops and in restaurants, is exclusively about Snow Cod. We do not mix in the “white salmon”. Photo: Norcod/Instagram Frode Elton Haug at the law firm Legalis AS says that whether the marketing is misleading or not is a concrete assessment of how consumers perceive the message. – It is forbidden to give the impression that a product has characteristics or is something other than what is true. The company has currently marketed mostly on social media. The lawyer believes that their post there clearly explains what is being marketed. – My assessment is that this marketing is not misleading, says Haug. – If you had just used the headline “The White Salmon of the Sea” without explaining anything further, it would have been different. Believes the market is increasing Cod farming is currently in the starting pit. Compared to the production of salmon, it amounts to less than 1 percent in Norway. But Guldberg says that their snow cod is already available in some markets and can be found at nine different retail chains in Spain and seven in France. The company also works closely with the Norwegian Seafood Council to build up more markets. In addition to showing a significant increase in revenue compared to the second quarter of 2023, Norcod presented its new marketing strategy last week. The company has six marine facilities in Trøndelag and Nordland, as well as its own slaughterhouse in Trøndelag. Photo: Norcod The communications director has no doubt that Norway must prepare to produce more farmed cod. – The quotas for wild-caught cod have already decreased quite a lot, and most likely there will be a big decrease next year as well. This means that eventually there will be little raw material in the market. Cod escaped from Norcod: – Not completely rid of the problem But more farmed cod is not only risk-free. The Institute of Marine Research has carried out a separate risk assessment of how cod farming affects coastal cod stocks. The conclusion is that if the industry uses all the sites they have applied for, cod farming may pose a risk to coastal cod from Stad and northwards almost to Bodø. The biggest problem is probably that farmed cod escape or come to spawn in the cages. If escaped cod and eggs spread in the local environment, they can develop into sexually mature fish that spawn together with wild cod. Over time, it can affect the genes of the coastal cod. In the second quarter, Norcod accounted for 49 per cent of all cod exported by Norway. Photo: Kystteknikk yards In January last year, escaped farmed cod was observed in Meløy municipality in Nordland. The Directorate of Fisheries found several holes in Norcod’s breeding facilities, despite the fact that the breeding company had previously claimed that there was no fault. Guldberg says that Norcod is not completely rid of the problems. – There have been some incidents. We never have guarantees against escape, but we follow this closely and have implemented many measures and close dialogue with the authorities. Published 28.08.2024, at 11.51
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Norcod will market farmed cod as “white salmon” – news Nordland
