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Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
Business Planning and Marketing
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Business Planning and Marketing

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David Redhage, Kerr Center …

David Redhage, Kerr Center
2013 Oklahoma Beginning Farmer & Rancher Program
Livestock - June 2013

Published in: Technology, Business
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  • 1. Business Planning and Marketing
  • 2. Why do a Business Plan• You can make “mistakes” on paper before youinvest time, effort and money.• Helps you track your efforts to meet your goals.• It is not easy or quick if done correctly• It can cost both time and money, depending onthe complexity
  • 3. Elements of a Business Plan• Executive Summary• Company (Farm) Description• Product or Service• Market Analysis• Strategy and Implementation• Web Plan Summary• Management Team• Financial Analysis
  • 4. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing Plan
  • 5. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing Plan Marketing plans typically include a descriptionof:• Market conditions• Products• Buyers• Sales potential• Contract terms or pricing strategy• Promotion and distribution ideas• Resources
  • 6. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanThe questions you address willdepend on whether your strategytargets:• New products• New buyers• Both
  • 7. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanBusiness Planning Guide can be used forany commodity.However worksheets are geared toward :• Specialty commodities• Value-added products• Services• Alternative distribution
  • 8. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing Plan Specialty commodities include:Unique varietiesNon-traditionalNon-GMOOrganicAgraceuticals
  • 9. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanValue-added product/servicesinclude:Processed -- meat, dairyIP grain drying and storageB&BHunting preserveEducational classes
  • 10. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanAlternative distribution channels include:ProcessorsWholesaleRetailDirect where buyers include individuals, restaurants, andinstitutions
  • 11. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing StrategyEasier strategy questions toanswer:How to price productHow to promote productHow to store and transport product
  • 12. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing StrategyHarder strategy questions toanswer: How much buyers will purchase How your competition will respond How prices may change in long-run How regulations may change
  • 13. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanCharacteristics of Specialty Commodity MarketsNot fluidImmature markets; volatilityLack of transparency and resources
  • 14. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing StrategyMarketing strategies typically fall apart when:Sales don’t materializeNew competition enters marketBuyer preferences changeInsufficient quality, volumeUnrealistic from start
  • 15. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing Plan What can you do to develop a realisticmarketing strategy:• Contact potential buyers• Ask questions• Review contracts• Be realistic, honest about sales potential• Observe and learn about competitors• Get outside opinions
  • 16. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaMarketing PlanMost importantly, if your strategyinvolves specialty or value-addedproducts and alternativedistribution channels:Research and document yourassumptions!
  • 17. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaTwo Strategies forAgricultural ProducersCommodity Creative AlternativeStrategy Strategy_________Expansion oriented Niche orientedLow-cost producer Unique product
  • 18. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaCharacteristics of TwoStrategiesCommodity Creative AlternativeLook at Look for alternativeexpanding enterprises thatherd or acres generate revenue
  • 19. Copyright © 2003 Center for Farm Financial Management, University of MinnesotaCharacteristics of TwoStrategiesCommodity Creative AlternativeProduction emphasis End-user focusManufacturing mentality Marketing mentalityLow-cost producer Value-added productsLarge scale operation Smaller operationPrice risk Relationship risk
  • 20. Market Analysis• Target Market Strategy• Market Needs• Market Trends• Market Growth• Competition• Buying Patterns
  • 21. Strategy and Implementation• Marketing Strategy• Pricing Strategy• Marketing programs• Sales Strategy• Sales programs• Partnerships
  • 22. Web, Email, Facebook, Plan• Website Marketing• Development costs• Email and Facebook use
  • 23. Direct Market Options for Farmers• Agricultural Tourism• Roadside Stands• On-farm store• Farmers’ Markets• Consumer delivery• Community Supported Agriculture (CSA)• Internet or e-mail sales• Pick-your-own (PYO)
  • 24. What can I produce?• Endless possibilities• Bound by local ordinance• Limited by expertise and facilities
  • 25. Marketing Options for Animal Production• Purebred• Commercial cow/calf• Stocker• Small ruminant(s)-Goat, Lamb• Pork• Poultry-chickens, turkey• Rabbit• Direct sales-live, whole carcass, individual cuts• Dairy products, eggs
  • 26. Pricing for Direct Sale of Meat• Cost of animal• Land• Finishing• Transportation to slaughter facility• Slaughter fee• Processing• Packaging• Storage• Transportation to retail• Promotion
  • 27. Oklahoma Dept. of Ag. Contacts• Jon Pruitt- Slaughter and Processing- 405-522-6114• Bryan Buchwald-Poultry & Egg products-405-397-1895• Sam Carter-Dairy-405-501-3928• Jeff Stearns-Organic Certification-405-501-3955• Oklahoma State Department of Health-Defines a FarmersMarket, Food safety inspections, retail meat sales, VendorLicensing
  • 28. Resources• http://extension.missouri.edu/sare/resources/directmeat.aspx

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