The secret to marketing any food product is knowing what customers want.
Your secret recipe for beef jerky is about to go public or the bread recipe you invented will roll off assembly lines in the year ahead. So far, so good. Business plan in place, you've established the administrative side of your food company, opened a bank account and recruited the family to help with shipping. Missing from the puzzle is your marketing plan, a fun part of your business start up that can mean the difference between good future sales and delicious ones.
Instructions
1. Understand the concept of marketing. Use the American Marketing Association definition as your guide: "planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy objectives." Use this framework to write a marketing plan that includes goals, objectives, a competitive analysis, budget, strategies and a strong marketing communications message.
2. Focus on the "Four Ps" of Marketing: Product, Price, Placement and Promotion. Each plays a critical role. For example, put a spin on a product that smacks of the exotic (e.g., cheese made from an old French recipe) or coffee grown in a protected rain forest. Produce your product at a price that attracts shoppers in challenging economic climates. Aim for the best placement -- large chain stores are ideally suited to some foods while gourmet boutiques are perfect for others.
3. Know your customer and what she likes. Mrs. Fields learned her market by handing out cookie samples in malls. Cereal companies do market research to develop new breakfast foods. Figure out what sets your food product apart and use that difference to attract consumers. Common strategies are: innovative package designs that stand out on shelves, a quirky product name or targeting a niche -- dieters, for example -- with your food's low calorie or fat content.
4. Line up endorsements. Whether you invent the next Betty Crocker, find a celebrity chef willing to endorse your salsa or land a Good Housekeeping magazine endorsement, use these conduits to grab the attention of your target audience. Once you've got it, roll out incentives. Issue coupons. Advertise discounts. Hold contests to engage consumers. Design an online newsletter and offer free subscriptions.
5. Be overly creative. Make up in offbeat marketing ideas what you lack in the cash it takes to buy ads and TV commercials. Get friendly with books on grassroots marketing to find clever ideas that can be adapted to your food product. Seek out public relations opportunities to gain exposure without spending a cent. Develop a philanthropic perspective. Promise a percentage of sales to a charity and make sure shoppers know about your generosity.
6. Stay on the straight and narrow and be a responsible marketer of your food product. Never make claims you can't back up or issue statements that can be refuted by food scientists, the Department of Agriculture or Federal Trade Commission, or challenged by truth in advertising laws. All it takes is one mistake in this area and all of your marketing efforts will be dashed.
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