Transcript Document
Transition to Value Added Products 11/11/08 Developing a Successful Marketing Strategy and Plan Key Elements For Success 11/11/08 • Vision. • Marketing Strategy. • Appropriate Tactics. • Execution. Marketing Mix ♦♦♦♦♦♦♦♦ Essentials of a Good Marketing Plan 11/11/08 • Product • Promotion • Price • Place Sales Vs Marketing Orientation • A selling orientation focuses on production. • A marketing orientation focuses on the customer. “The aim of marketing is to make selling superfluous.” Peter Drucker 11/11/08 Market Analysis ♦♦♦♦♦ Selecting Your Product and Market 11/11/08 • Demographic Trends. • Consumer Trends. • Dining/Food Trends. • Economic Trends. • Competitive Review. • Research. • Basic commodity. What is a Product? ♦♦♦♦♦♦ Adding Value • Adding value. • Enhanced product. Commodity Processing Service, Packaging, Branding, etc. 11/11/08 Bad Strategic Approach 11/11/08 Promotions Communicating with Your Market 11/11/08 • • • • • Advertising Sales Promotion Public Relations Selling Strategy Direct Marketing Media Price 11/11/08 •Cost analysis. •Competitor surveys. •Product positioning. •Pricing strategy. Place 11/11/08 • Distribution Options – traditional channels. - Retail: club, supermarket, convenience. - Foodservice: commercial, non-commercial. • Problems for the small producer. • Direct marketing: provides better margins for the small producer. Branding Your Products • Why Brand? • Brand Strategy: - Awareness - Associations - Perceived Quality - Customer Loyalty - Brand Assets • Trade Dress. • What is Your Brand Promise? 11/11/08 Key Questions to Consider 11/11/08 How broad or narrow is the market for my product? Does the value that I’m adding make a difference to that target market? What are the key features and benefits of my product and how can I best communicate those to my target market? Is my pricing consistent with the perceived value of the product? Where is the best place to sell my product? What is my brand and how can I give it meaning? What is your marketing budget? Marketing Budget ♦♦♦♦♦♦♦♦♦ Typical Approaches • What’s left over. • Percent of sales. • Opportunity driven. 11/11/08 Transition to Value Added Seminar 11/11/08 Questions?