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Marketing plan

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Marketing plan

  1. 1. Marketing Plan <ul><li>Marketing plans typically include: </li></ul><ul><ul><li>Market/buyer description </li></ul></ul><ul><ul><li>Product description </li></ul></ul><ul><ul><li>Competition overview </li></ul></ul><ul><ul><li>Pricing strategy </li></ul></ul><ul><ul><li>Promotion strategy </li></ul></ul><ul><ul><li>Distribution strategy </li></ul></ul><ul><ul><li>Inventory and storage strategy </li></ul></ul><ul><ul><li>Risks and resources </li></ul></ul>
  2. 2. Marketing Plan <ul><li>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>
  3. 3. Marketing Plan <ul><li>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>
  4. 4. 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>
  5. 5. Marketing Plan <ul><li>The Business Planning Guidebook can be used by anyone but worksheets are geared toward managers interested in: </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>
  6. 6. Marketing Plan <ul><li>Specialty commodity examples: </li></ul><ul><ul><li>Varieties – blue corn, high oil </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>
  7. 7. Marketing Plan <ul><li>Value-added product/service examples: </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>
  8. 8. Marketing Plan <ul><li>Alternative distribution examples: </li></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>
  9. 9. Marketing Plan <ul><li>Business Planning Guidebook 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>
  10. 10. Marketing Plan <ul><li>More Guidebook 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>
  11. 11. Marketing Plan <ul><li>The questions you answer and resources you use will depend on whether the strategy is to market: </li></ul><ul><ul><li>New specialty commodities to current buyers </li></ul></ul><ul><ul><li>New products or services to current buyers </li></ul></ul><ul><ul><li>Current commodities to new distributors/buyers </li></ul></ul><ul><ul><li>New commodities/products to new distributors/buyers </li></ul></ul>
  12. 12. Marketing Strategy <ul><li>Some of the 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>
  13. 13. 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>
  14. 14. 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>
  15. 15. 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>Strategy unrealistic from the start </li></ul></ul>
  16. 16. Marketing Strategy <ul><li>What can you do to help business managers develop realistic marketing strategies? </li></ul><ul><ul><li>Ask the hard questions </li></ul></ul><ul><ul><li>Share examples </li></ul></ul><ul><ul><li>Identify resources </li></ul></ul>
  17. 17. Marketing Plan <ul><ul><li>Encourage managers to do their homework: </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 opinion </li></ul></ul>

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