Marketing Plan
Submit the name of your ag product, commodity, or service by Wed. Oct. 17’th through the submission link provided in Canvas. I will send you a comment for approval/change. You can then proceed to develop your plan.
Submit the final plan by Wed. Dec. 5’th. on Canvas through the submission link provided.
3 – 5 pages (all inclusive text and figures) plus reference & cover page, single spaced, 12 point font.
Reference page must contain no less than 5 good sources.
Components of Marketing Plan
Market Analysis
Business Plan/Proposition
Action Plan
Promotion Activities for Business Plan
Financial Analysis/Evaluation
Monitoring and Measurement
(1) Market Analysis Gives an overview of the industry. Should be able to provide:
Industry Description and Outlook –current size, historic growth rate, trends
Information About Your Target Market
Distinguishing characteristics – demographics and location? seasonal purchasing trends?
How much market share can you gain?
Pricing and gross margin targets –gross margin levels, and any discount that you plan to use. SWOT Analysis
Are there any barriers that may hinder you as you enter the market?
What is your window of opportunity to enter the market?
Are there any indirect or secondary competitors who may impact your success?
What barriers to market are there (e.g., changing technology, high investment cost)
Regulatory Restrictions if any?
(2) Business Plan/Proposition:
Organizational Structure
Organizational chart with a narrative description
Ownership Information
Goals – year wise & Planning Assumptions to achieve those goals.
(3) Action Plan: Actual plan of detailed steps
Decide how and when to start
(3P’s : product, price, place)
Describe the product clearly
Initial place of sales (target market immediate)
Price: Unit price
(4) Promotion Activities for Business Plan:
How will you “spread the news”
Create brand awareness
Sponsorships?
Customer relation increase
Social media
(has to tie back to the business plans goals)
(5) Financial Analysis/Evaluation:
Develop a budget for all the marketing planning activities proposed.
Total marketing budget
How do you plan to finance it?
Breakup of marketing activities such as advertising, campaigns, social media, personnel, designing etc. by item.
(6) Monitoring and Measurement:
How will we monitor if our sales are meeting goals and what will we do if they are not?
Compare quarterly sales from years? Do we need to do anything differently?
Sales
Customer satisfaction
Brand awareness
Social responsibility (Corporate)
Resources
http:// www.nama.org/student-marketing-competition-winners
sba.gov
Sample plans on Canvas
