1. Marketing Your Product

2. Resources VT Direct Marketing Survey –http://www.uvm.edu/farmpricing/http://www.uvm.edu/farmpricing/ Small Scale Food Processors Asso. –http://www.nyssfpa.com/index.htmlhttp://www.nyssfpa.com/index.html Marketing Your Business –http://extension.psu.edu/farm- business/farmentrepreneurs/marketinghttp://extension.psu.edu/farm- business/farmentrepreneurs/marketing Northeast BF Written Resources –http://nebeginningfarmers.org/publications/http://nebeginningfarmers.org/publications/

3. Additional Resources Do-It-Yourself Guide to Market Research –http://www.agmrc.org/media/cms/UofGeorg iaorg_7EE4EE6C3DABF.pdfhttp://www.agmrc.org/media/cms/UofGeorg iaorg_7EE4EE6C3DABF.pdf NY MarketMaker –http://ny.marketmaker.uiuc.edu/http://ny.marketmaker.uiuc.edu/ Local Harvest –http://www.localharvest.org/http://www.localharvest.org/

4. What is Marketing? The act or process of selling or purchasing in a market. An aggregate of functions involved in moving goods from producer to consumer.

5. Any production with out effective market strategy will not bring a rewarding return.

6. Marketing Cycle Communications (Promotion) Id how to meet that need Define Customer need Check on Satisfaction level Finding your unique selling position(s) Deliver Product

7. 3 Generic Marketing Strategies Each has benefits or reasons for selecting a particular marketing strategy, You must determine which works best for your business.

8. Cost leadership (Wal-Mart) –“For the quality, we are the cheapest” High volume sales Low cost relative to competition Cost maximization practices Differentiation (Harry and David) –“There is something really special about us…” Create perception that you are unique Strong marketing skills Focus or Niche Strategy (variation of Differentiation) –“ We only cater to one segment of the market…” Ability to really understand customer need Willing to let your customer have a lot of say re: your product Generic Strategies - Michael Porter (1980)

10. Fundamentals of Marketing Product Place Price Promotion People Producer Anytime one of these “P’s” changes, it should trigger a review of all the other “P’s”

11. Product

12. Question – “Would you buy this product or service?”

13. Place

14. Price What is the value of your product? What are your costs? –Start Up Licensing Label design and printing Bar code Research and Development Insurance Business Formation Facility and Equipment

15. On going Operational Costs Rent, mortgage, utilities Raw materials Packaging Label reprinting Insurance, taxes Legal and professional assistance Labor Repair, maintenance Marketing expenses Shipping & Deliveries

16. What will the customer pay? What does the competition charge? What will the market bear? Can you make a profit? Things to Ask

17. Promotion

18. Direct –From the Farm Host an Open House –Farm markets –In person (Pack and Peddle) –Mailings Newsletters –Advertisement

19. Internet –Website, –Social media Trade Shows and Events Marketing programs –Pride of NY –Department of Commerce –Chamber of Commerce

20. Most Powerful Promotion Word of Mouth

21. Create an Identity Business Card Brochure Business Sign Website T-shirts, hats

22. People

23. Producer Share Your Food and Farm Story Producer must be knowledgeable Provide Good Customer Service Communicate well with consumers Ask consumers questions and listen to the recommendations on improving the product

24. Using 6 P’s

27. After your research, you should be able to answer: Who is your customer, who is your competition and what is your production potential? Leading to: –What is my market potential? Then as the next step, moving on to develop effective marketing strategies

28. Describe Your Customers and Marketplace How big is the market in terms of customers? What is your customers age, income, buying preferences and habits? Who are your competitors, size of the market? Your industry history, trends, future growth? Periodically use to update knowledge about target customers

29. How Going to Find Out?

31. Competition Who are your main competitors? How is their business…growing? How does your product compare to competition? How does your unique selling point compare? What do you know about their operation?

32. What do the Big Guys Do? Assess their strengths and weaknesses Develop a strategy Product concept (trends, needs) Develop and Test prototype Test market Evaluate business and technical aspects Introduce and market

33. Smart Considerations Can react quickly to new market trends Can try new products economically No stockholders or BOD to report to Can fill niche products needs not met by big companies Need to work smarter, not harder

34. Doing Your Homework: Is there a need for your product? Deciding not to produce a product after market research shows a limited market is a good outcome! “Fail Small, Fail Early”

35. Principals for Marketing Success Focus – keep the customer in mind Positioning – unique selling point Demonstrations sell Advertising – focus on product advantage Distribution – product on shelves to satisfy consumers needs Promotion – to increase in store display

36. Contact Information Steve Hadcock Capital Area Ag. & Hort. Program 479 Route 66 Hudson, NY 12534 518-828-3346 seh11@cornell.edu