GUIDELINE FOR YOUR MARKETING PLAN ORGANIC PRODUCT 1. SITUATION ANALYSIS (BIG OVE
GUIDELINE FOR YOUR MARKETING PLAN ORGANIC PRODUCT 1. SITUATION ANALYSIS (BIG OVERVIEW OF THE COMPANY) a. Executive Summary/Organization Mission; Write a few lines to explain your company’s purpose. what is your company’s mission? Your mission has to say something about your product, and what you try to accomplish in terms of satisfying your customers. The mission statement articulates a company's purpose. It announces to the world at large why your company exists. EXAMPLE: “Our mission at Green Farm Co. is to grow vegetables using organic, sustainable farming practices to give our customers safe and healthy food choices.” b. Environmental Scanning. Trends, events, changes in the environment that may affect the company. As an organization you face many challenges and are at the mercy of the environment. You cannot control the environment, but you need to monitor it to react quickly to any change or event. Students tend to skip “Environmental scanning,” DO NOT SKIP THIS PART, IT IS WORTH 10 POINTS (each section is 2 points) 1. Social/Cultural trends, why are you are developing an organic product? Think about the new trends related to healthy lifestyles (Eating organic food, exercising, anti-smoking campaigns, use of social media to inform the public...) - Also educated people are aware of the negative consequences of pesticides and insecticides - You need to do some research on pesticides and insecticides used in agriculture – or chemicals used in cosmetics and grooming products - to understand why more and more customers are turning to organic products. 2 to 3 lines 2. Political/Legal: what are the requirements to meet the USDA Organic standard and use the USDA organic seal? Produced without excluded methods, (e.g., genetic engineering, ionizing radiation, or sewage sludge). Produced using allowed substances. Overseen by a USDA National Organic Program-authorized certifying agent, following all USDA organic regulations. 3. Technology. Think how technologies can help organic farming - or the assembly of your product, or packaging, and/or promotion of your product, or to reach customers, to place orders and send invoices – new manufacturing processes. 4. US economic situation: GDP, GDP per capita, unemployment rate. You cannot write that the American economy is good or bad without proving your statement. Gross domestic product is the best way to measure a country's economy. 5. Natural environment: Decisions about how and where we grow or manufacture products have significant impacts on the natural environment. What are the hidden costs of agriculture to the environment in terms of natural resource degradation? Also think about the natural disasters that can have an impact on harvests, the price and delivery of your products (drought, flood, hurricanes, tornadoes in some parts of the world or in some regions of the US). c. Within the industry, what have been the overall trends in sales for organic products like yours? – In % - Research the Internet. d. Within the industry, what have been the overall trends in market share for organic products similar to yours? In % - Research the Internet The reasons why in a real-life situation you would have to get both information is to know if the industry/product type is growing or declining. e. Market Opportunity Analysis What are the opportunities/prospects for your own product? Explain (refer to some of your findings: the trends, the economy, trends in market share, trends in sales). 2. MARKETING OBJECTIVES (Your objectives are goals for the future) 3. MARKETING STRATEGY: A. Target Market: (5 points) Identify the target market clearly. Very few products are marketed to absolutely everybody, for the simple reason that the cost of getting the word out to everyone would outweigh the expected profits. Instead, company must market their products to the audience that is mostly likely to be receptive to the products. For instance, if your fictional company sells organic coffee, obviously your target market consists of coffee drinkers – aware of the danger of pesticides, insecticides, chemicals on their health – well educated, medium to high income... • Indicate bases for segmentation: Demographic, psychographic, geographic, benefit,... (5 points) Do not skip segmentation. B. Analysis of Buyer Behavior: Please label each part • Types of consumer buying decisions (Routine/Low involvement, Limited decision making, or Extensive decision making ???? • social/cultural influences, • psychographics and life-style analysis Do not skip any part – This section is worth 10 points C. The 4 Ps = Marketing Tactics (Actual steps undertaken by marketers) Product (Description of your product – Ingredients (NO ounces please, just mention the ingredients) - Quality – Total product concept – including: • packaging, • Classification (convenience, shopping, or specialty product?), • brand name, • warranty, (implied or expressed) • Positioning (Remember positioning has nothing to do with placing a product one the shelves) • What features and benefits of the product are unique? Price (Pricing strategy for your new product (check the chapter on PRICING PRODUCTS) Please NO $ (dollars) - Which strategy will you use? Explain. Place (Channel of Distribution) – strategies: • direct distribution (sold on the Internet – company website) • or/and Indirect distribution? If indirect, Will it be Intensive, selective, exclusive, and why? Promotion/IMC (Advertising (names of the magazines/newspapers), and/or Sales Promotion, and/or PR, and/or Publicity) Indicate Specific Media Placement of your main competitor or 2 main competitors) Response of the Target Market: Indicate how this will be assessed or Accomplished. You need to tell how you will check if your customers buy your product? D. competitive and industrial analysis: You need to know your competitors, their products and anticipate their next moves. a. Direct Competition and its strengths and weaknesses (your direct competitors are organizations selling similar organic products) NAME ONE COMPETITOR. b. Indirect Competition and its strengths and weaknesses (your indirect competitors are organizations selling similar NON organic products). NAME ONE COMPETITOR BE SURE YOU DO NOT SKIP ANY PART OF THE PROJECT

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