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    Marketing plan Marketing plan Presentation Transcript

    • Marketing Plan
    • 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
    • Marketing Plan
      • All of these make up your marketing strategy.
      • What questions should you ask when developing your marketing plan?
    • Marketing Plan
      • The questions you address will depend on whether your strategy targets:
        • New products
        • New buyers
        • Both
    • Marketing Plan
      • FINPACK Business Plan software can be used to develop a marketing plan for:
        • Traditional, bulk commodities
        • Specialty commodities and value-added products
    • Marketing Plan
      • Business Planning Guide can be used for any commodity.
      • However worksheets are geared toward :
        • Specialty commodities
        • Value-added products
        • Services
        • Alternative distribution
    • Marketing Plan
      • Specialty commodities include:
        • Unique varieties
        • Non-traditional
        • Non-GMO
        • Organic
        • Agraceuticals
    • Marketing Plan
      • Value-added product/services include:
        • Processed -- meat, dairy
        • IP grain drying and storage
        • B&B
        • Hunting preserve
        • Educational classes
    • Marketing Plan
      • Alternative distribution channels include:
        • Processors
        • Wholesale
        • Retail
        • Direct where buyers include individuals, restaurants, and institutions
    • Marketing Strategy
      • Easier strategy questions to answer:
        • How to price product
        • How to promote product
        • How to store and transport product
    • 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
    • Marketing Plan
      • Characteristics of Specialty Commodity Markets
        • Not fluid
        • Immature markets; volatility
        • Lack of transparency and resources
    • 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
    • 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
    • Marketing Plan
      • Most importantly, if your strategy involves specialty or value-added products and alternative distribution channels:
      • Research and document your assumptions!
    • 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
    • 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.
    • 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)
    • Marketing Plan
      • More Guide questions about:
        • Distribution (Worksheet 4.5)
        • Pricing (Worksheet 4.6)
        • Promotion (Worksheet 4.7)
        • Inventory and storage (Worksheet 4.8)