Developing a Successful Marketing Strategy and Plan

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1 Developing a Successful Marketing Strategy and Plan Page 1

2 Key Elements for Success Vision. Marketing Strategy. Appropriate Tactics. Execution. Page 2

3 Marketing Mix Product value added product. Promotion attention, interest, desire, action. Price to the customer. Place market segment and distribution channel. Page 3

4 What is a Product Basic commodity. Adding value for your target market. Enhanced product. Commodity Processing Service, Packaging, Branding, etc. Page 4

5 Developing a Brand Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another. Cluttered market place. A piece of mental real estate. A successful brand strategy creates a strong relationship between the company and customer that is driven by the product or service. Page 5

6 Why Brand Your Product or Service? Creates recognition. Gives the owner a position of privilege. Reduces marketing expense. Creates customer loyalty. Provides strategic advantage. Is an asset that can grow in value. Page 6

7 Promotion Product positioning. Product stories/features and Benefits. Product differentiation. Strategic competitive advantages. Developing marketing messages. Communication opportunities. Page 7

8 Bad Strategic Approach Page 8

9 Price Cost analysis cost to produce and expected/required profit margin. Market surveys competitor pricing. Product positioning price should reinforce positioning. Pricing strategies: value, mid-range, premium, super premium. Page 9

10 Place or Distribution Strategy Traditional distribution channels. - Retail: club, supermarket, convenience. - Foodservice: commercial, non-commercial. Alternative, Direct Marketing channels. - Direct store delivery. - Farmers markets. - CSA. - Roadside stand or market. - E-commerce, mail order. - Others or combination. Page 10

11 Questions to Consider 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? Page 11

12 Marketing Budget Page 12

13 Developing a Successful Marketing Strategy and Plan Page 1

14 Key Elements for Success Vision. Marketing Strategy. Appropriate Tactics. Execution. Page 2

15 Marketing Mix Product value added product. Promotion attention, interest, desire, action. Price to the customer. Place market segment and distribution channel. Page 3

16 What is a Product Basic commodity. Adding value for your target market. Enhanced product. Commodity Processing Service, Packaging, Branding, etc. Page 4

17 Developing a Brand Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another. Cluttered market place. A piece of mental real estate. A successful brand strategy creates a strong relationship between the company and customer that is driven by the product or service. Page 5

18 Why Brand Your Product or Service? Creates recognition. Gives the owner a position of privilege. Reduces marketing expense. Creates customer loyalty. Provides strategic advantage. Is an asset that can grow in value. Page 6

19 Promotion Product positioning. Product stories/features and Benefits. Product differentiation. Strategic competitive advantages. Developing marketing messages. Communication opportunities. Page 7

20 Bad Strategic Approach Page 8

21 Price Cost analysis cost to produce and expected/required profit margin. Market surveys competitor pricing. Product positioning price should reinforce positioning. Pricing strategies: value, mid-range, premium, super premium. Page 9

22 Place or Distribution Strategy Traditional distribution channels. - Retail: club, supermarket, convenience. - Foodservice: commercial, non-commercial. Alternative, Direct Marketing channels. - Direct store delivery. - Farmers markets. - CSA. - Roadside stand or market. - E-commerce, mail order. - Others or combination. Page 10

23 Questions to Consider 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? Page 11

24 Marketing Budget Page 12

25 Developing a Successful Marketing Strategy and Plan Page 1

26 Key Elements for Success Vision. Marketing Strategy. Appropriate Tactics. Execution. Page 2

27 Marketing Mix Product value added product. Promotion attention, interest, desire, action. Price to the customer. Place market segment and distribution channel. Page 3

28 What is a Product Basic commodity. Adding value for your target market. Enhanced product. Commodity Processing Service, Packaging, Branding, etc. Page 4

29 Developing a Brand Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another. Cluttered market place. A piece of mental real estate. A successful brand strategy creates a strong relationship between the company and customer that is driven by the product or service. Page 5

30 Why Brand Your Product or Service? Creates recognition. Gives the owner a position of privilege. Reduces marketing expense. Creates customer loyalty. Provides strategic advantage. Is an asset that can grow in value. Page 6

31 Promotion Product positioning. Product stories/features and Benefits. Product differentiation. Strategic competitive advantages. Developing marketing messages. Communication opportunities. Page 7

32 Bad Strategic Approach Page 8

33 Price Cost analysis cost to produce and expected/required profit margin. Market surveys competitor pricing. Product positioning price should reinforce positioning. Pricing strategies: value, mid-range, premium, super premium. Page 9

34 Place or Distribution Strategy Traditional distribution channels. - Retail: club, supermarket, convenience. - Foodservice: commercial, non-commercial. Alternative, Direct Marketing channels. - Direct store delivery. - Farmers markets. - CSA. - Roadside stand or market. - E-commerce, mail order. - Others or combination. Page 10

35 Questions to Consider 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? Page 11

36 Marketing Budget Page 12

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