1. Growing Gloucestershire Conference Delivering a new product to the market-from scratch Speaker John Taylerson 1

2. Growing Gloucestershire Marketing Introductions Marketing, what is it? Why it is important How it is much more simple than it sounds How will you know if it is working Some issues about starting from scratch Questions 2

3. Speaker John Taylerson FCIM, MBA, Chartered Marketer Currently re-launching owns and runs TAYLERSON˚S MALMESBURY SYRUPS Started from scratch to putting product on-shelf in John Lewis Oxford Street in under 12 months 3

4. Can you guess where its made? 4

5. A 1 litre bottle of syrup can multiply in value X 3.3 5

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7. Not every flavour is a good idea? 7

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9. Milk can be found in one of these 9

10. And can also be found in one of these + goats, sheep, soya, oats, rice in fact, apart from a stone, if you squeeze most things hard enough liquid will flow out; whether it’s fit to put in your coffee is entirely up to you. 10

11. Milk Varieties Nutritional Information/200ml CaloriesProteinCarbsFat %Pence/litre CI - Jersey and Guernsey milk2207.810.84.2155 Whole Milk1506.810.23.570 Lactose Free Whole milk1166.85.43.5135 Organic whole milk150710.23.5106 Goat Milk1427.29.24.25158 Semi Skim1006.810.21.659 Organic Semi Skim100710.21.669 Skimmed Milk726.8100.362 Organic Skimmed Milk727100.396 Soy Milk7664.61.899 Unsweetened Soy Milk646.60.41.899 Almond Milk941.85.62.8160 Unsweetened Almond Milk341.31.20.15160 Rice Milk1100.4224.6185 Unsweetened oat Milk702134179 Hazelnut Milk1101.2133.2279 Source: Fitness Treats 2012 11

12. Increase convenience and reduce waste Dairystix give customers a way to add milk on the go – perfect for their cup of tea Dairystix are made from pure UHT milk so no spoilage and increased portion control i.e. they last 6 months and don’t use up fridge space 12

13. The Chartered Institute of Marketing? Largest professional body for marketers Founded in 1911  Aim: to help marketers throughout their careers  45,000 members  Membership, Qualifications, CPD, Training, Events 13

14. Marketing Our definition The management process responsible for identifying, anticipating and satisfying customer requirements profitably. “ “ The Chartered Institute of Marketing, 2009 Future sales Now Sustainable Understanding what they value Needs Responsibility of whole company 14

15. Put another way… “The right stuff”  Right products and services  Right people  Right time  Right price  Right promotion  In return for the right level of profit  15

16. Why is it important Knowing – Who – Where – When – Why – How often – How much – How different The management process- risk management Cost of sale- The Gross margin calculation! 16

17. Simples? You only need to know… 3 things about marketing? 17

18. 1 Segmentation Dividing the market into subsets of customers/consumers who have common needs, wants, desires, medication, hair colours, cars, hobbies, children, garages, holidays, wives, husbands, problems, diets, travel, ties, greenhouses, music taste, political affiliations, pets, gardens, pests etc………. 18

19. 2 Targeting Where are these customers hiding? Where can you get at them most effectively Cost of sale……. Just because you found a gap in the market doesn’t mean there is a market in the gap! 19

20. 3 Positioning Why are you different to everyone else- difference Price, provenance, packaging, personality ………etc….. 20

21. How does this all work Segmenting, targeting and positioning all key to F&D But so is cash! Investing new products should mean inventing new sources of revenue… (where from? who from? why from?) Food and drink is the single biggest manufacturing industry in the UK- and people keep eating and drinking 21

22. New products What is a new product? – Augmenting the existing? – Adapting to meet new needs – Start from scratch- new – Buy someone else's model and adapt it Ansoff matrix more to existing find new customers for existing new products for existing new products new customers 22

23. Ansoff Matrix a simple way of deciding what to do next? 23

24. Sources of inspiration? What is a good idea? How to test? Is it objective? Has someone else already done it? If they haven’t, why not? – Leader or follower (no shame in following) 24

25. Start from scratch? Advantages New rules No legacy costs Re-position, start from somewhere else Potential for lower costs, lower cost base- (fixed and variable) Ability to change and adapt Disadvantages No cash No customers No goodwill No contacts No awareness No systems No people No knowledge 25

26. Money Sunk, fixed and variable costs Cash flow P&L Balance sheets All should be key to a marketing plan 26

27. The Markets for food & drink Food service – County show milk bars – Hotels restaurants bars – Offices – Institutions Retail – John Lewis, Waitrose, Direct on-line- and via Amazon 27

28. Marketing process: 28

29. Marketing process- put another way Do more of what works Do less of what doesn’t Not as obvious – do you know what works and what doesn’t? Worse- some stuff that doesn’t work might facilitate the stuff that does…….? 29

30. Thank you Question Time 30

31. Contact www.malmesburysyrups.co.uk www.dairystix.com coffeesyrups.wordpress.com/ www.facebook.com/pages/Dairystix www.facebook.com/coffeesyrups @dairystix @JTMalmesbury 31