Product Marketing Plan
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Transcript of Product Marketing Plan
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8/14/2019 Product Marketing Plan
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Marketing Plan
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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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Marketing Plan
All of these make up your marketing strategy.
What questions should you ask when developing your marketing plan?
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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 marketingplan 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
OrganicAgraceuticals
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Marketing Plan
Value-added product/services include:
Processed -- meat, dairy
IP grain drying and storage
B&B
Hunting preserve Educational classes
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Marketing Plan
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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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
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Characteristics of Specialty Commodity Markets
Not fluid
Immature markets; volatility
Lack of transparency and resources
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Marketing Strategy
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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Marketing Plan
What can you do to develop a realisticmarketing 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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Marketing Plan
Most importantly, if your strategy involves specialty or value-addedproducts and alternative distribution channels:
Research and document your assumptions!
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Marketing Plan
FINPACK Business Plan software asksquestions and offers tips about:
Current markets
Potential new markets
Pricing strategy
Promotion and distribution strategy Storage and quality control
Resourcessuppliers, contractors, competitors
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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.
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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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Marketing Plan
More Guide questions about:
Distribution (Worksheet 4.5)
Pricing (Worksheet 4.6)
Promotion (Worksheet 4.7)
Inventory and storage (Worksheet 4.8)
