Marketing Plan

1
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

2
Marketing Plan

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

3
Marketing Plan

• The questions you address will depend on whether
  your strategy targets
• New products
• New buyers
• Both

4
Marketing Plan

• FINPACK Business Plan software can be used to
  develop a marketing plan for
• Traditional, bulk commodities
• Specialty commodities and value-added products

5
Marketing Plan

• Business Planning Guide can be used for any
  commodity.
• However worksheets are geared toward
• Specialty commodities
• Value-added products
• Services
• Alternative distribution

6
Marketing Plan

• Specialty commodities include
• Unique varieties
• Non-traditional
• Non-GMO
• Organic
• Agraceuticals

7
Marketing Plan

• Value-added product/services include
• Processed -- meat, dairy
• IP grain drying and storage
• BB
• Hunting preserve
• Educational classes

8
Marketing Plan

• Alternative distribution channels include
• Processors
• Wholesale
• Retail
• Direct where buyers include individuals,
  restaurants, and institutions

9
Marketing Strategy

• Easier strategy questions to answer
• How to price product
• How to promote product
• How to store and transport product

10
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

11
Marketing Plan

• Characteristics of Specialty Commodity Markets
• Not fluid
• Immature markets volatility
• Lack of transparency and resources

12
Marketing Strategy

• Marketing strategies typically fall apart when
• Sales dont materialize
• New competition enters market
• Buyer preferences change
• Insufficient quality, volume
• Unrealistic from start

13
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

14
Marketing Plan

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

15
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

16
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.

17
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)

18
Marketing Plan

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