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Marketing plan

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Marketing plan

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

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