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

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

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Marketing Plan

The questions you address will depend on whether your strategy targets:

New products New buyers Both

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Marketing Plan
FINPACK Business Plan software can be used to develop a marketing plan for:

Traditional, bulk commodities Specialty commodities and value-added products

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Marketing Plan

Business Planning Guide can be used for any commodity.

However worksheets are geared toward :
Specialty commodities Value-added products Services Alternative distribution
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Specialty commodities include:

Unique varieties Non-traditional Non-GMO Organic Agraceuticals

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Value-added product/services include:

Processed -- meat, dairy

IP grain drying and storage

B&B Hunting preserve Educational classes
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Alternative distribution channels include:

Processors

Wholesale
Retail Direct where buyers include individuals, restaurants, and institutions

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Marketing Strategy

Easier strategy questions to answer:

How to price product How to promote product How to store and transport product

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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

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Characteristics of Specialty Commodity Markets

Not fluid

Immature markets; volatility

Lack of transparency and resources

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Marketing strategies typically fall apart when:

Sales dont materialize New competition enters market

Buyer preferences change

Insufficient quality, volume Unrealistic from start
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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
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Most importantly, if your strategy involves specialty or value-added products and alternative distribution channels:
Research and document your assumptions!

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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
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If marketing traditional commodities, software such as Marketeer can help with forward contracting strategies.
Marketeer can be imported into the Business Plan Software.

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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)

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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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