Marketing Plan

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Marketing Plan:

Marketing Plan

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:

Marketing Plan All of these make up your marketing strategy. What questions should you ask when developing your marketing plan?

Marketing Plan:

Marketing Plan The questions you address will depend on whether your strategy targets: New products New buyers Both

Marketing Plan:

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:

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:

Marketing Plan Specialty commodities include: Unique varieties Non-traditional Non-GMO Organic Agraceuticals

Marketing Plan:

Marketing Plan Value-added product/services include: Processed -- meat, dairy IP grain drying and storage B&B Hunting preserve Educational classes

Marketing Plan:

Marketing Plan Alternative distribution channels include: Processors Wholesale Retail Direct where buyers include individuals, restaurants, and institutions

Marketing Strategy:

Marketing Strategy Easier strategy questions to answer: How to price product How to promote product How to store and transport product

Marketing Strategy:

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:

Marketing Plan Characteristics of Specialty Commodity Markets Not fluid Immature markets; volatility Lack of transparency and resources

Marketing Strategy:

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:

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:

Marketing Plan Most importantly, if your strategy involves specialty or value-added products and alternative distribution channels: Research and document your assumptions!

Marketing Plan:

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:

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:

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:

Marketing Plan More Guide questions about: Distribution (Worksheet 4.5) Pricing (Worksheet 4.6) Promotion (Worksheet 4.7) Inventory and storage (Worksheet 4.8)