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Marketing plan

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  • 1. Marketing Plan
  • 2. Marketing Plan
    • Marketing plans typically include a description of:
      • Market conditions
      • Products
      • Buyers
      • Sales potential
      • Contract terms or pricing strategy
      • Promotion and distribution ideas
      • Resources
  • 3. Marketing Plan
    • All of these make up your marketing strategy.
    • What questions should you ask when developing your marketing plan?
  • 4. Marketing Plan
    • The questions you address will depend on whether your strategy targets:
      • New products
      • New buyers
      • Both
  • 5. Marketing Plan
    • FINPACK Business Plan software can be used to develop a marketing plan for:
      • Traditional, bulk commodities
      • Specialty commodities and value-added products
  • 6. Marketing Plan
    • Business Planning Guide can be used for any commodity.
    • However worksheets are geared toward :
      • Specialty commodities
      • Value-added products
      • Services
      • Alternative distribution
  • 7. Marketing Plan
    • Specialty commodities include:
      • Unique varieties
      • Non-traditional
      • Non-GMO
      • Organic
      • Agraceuticals
  • 8. Marketing Plan
    • Value-added product/services include:
      • Processed -- meat, dairy
      • IP grain drying and storage
      • B&B
      • Hunting preserve
      • Educational classes
  • 9. Marketing Plan
    • Alternative distribution channels include:
      • Processors
      • Wholesale
      • Retail
      • Direct where buyers include individuals, restaurants, and institutions
  • 10. Marketing Strategy
    • Easier strategy questions to answer:
      • How to price product
      • How to promote product
      • How to store and transport product
  • 11. Marketing Strategy
    • Harder strategy questions to answer:
      • How much buyers will purchase
      • How your competition will respond
      • How prices may change in long-run
      • How regulations may change
  • 12. Marketing Plan
    • Characteristics of Specialty Commodity Markets
      • Not fluid
      • Immature markets; volatility
      • Lack of transparency and resources
  • 13. Marketing Strategy
    • Marketing strategies typically fall apart when:
      • Sales don’t materialize
      • New competition enters market
      • Buyer preferences change
      • Insufficient quality, volume
      • Unrealistic from start
  • 14. Marketing Plan
      • What can you do to develop a realistic marketing strategy:
      • Contact potential buyers
      • Ask questions
      • Review contracts
      • Be realistic, honest about sales potential
      • Observe and learn about competitors
      • Get outside opinions
  • 15. Marketing Plan
    • Most importantly, if your strategy involves specialty or value-added products and alternative distribution channels:
    • Research and document your assumptions!
  • 16. Marketing Plan
    • FINPACK Business Plan software asks questions and offers tips about:
      • Current markets
      • Potential new markets
      • Pricing strategy
      • Promotion and distribution strategy
      • Storage and quality control
      • Resources – suppliers, contractors, competitors
  • 17. Marketing Plan
    • If marketing traditional commodities, software such as Marketeer can help with forward contracting strategies.
    • Marketeer can be imported into the Business Plan Software.
  • 18. Marketing Plan
    • Business Planning Guide asks questions about:
      • Current markets (Worksheet 2.2)
      • Buyer preferences (Worksheet 4.1)
      • Projected sales volume (Worksheet 4.2)
      • Product uniqueness (Worksheet 4.3)
      • Competition (Worksheet 4.4)
  • 19. Marketing Plan
    • More Guide questions about:
      • Distribution (Worksheet 4.5)
      • Pricing (Worksheet 4.6)
      • Promotion (Worksheet 4.7)
      • Inventory and storage (Worksheet 4.8)

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