Marketing

There are many ways to think about marketing. At its core, marketing is about “how” to supply a market with goods or services. How will buyers learn about your product? How will your product fill your customers’ needs? How will the price of your product compare to competitors? Overall, marketing requires knowing your product and knowing your customers in order to develop a strategy to connect the two.

Marketing for local food has its share of challenges, but it also has certain advantages too. Some of the obstacles facing marketers of local food are distribution challenges, getting costumers to try your product, and pricing your product correctly. Advantages to marketing local food are labels like Indiana Grown http://www.indianagrown.org/, customer’s loyalty to community and place, and trust of local products.

Given the multiple factors that need to be considered for marketing your product, what is the best way to start? A document from Purdue Extension’s New Ventures project provides a great starting point. Marketing’s Four P’s: First Steps for New Entrepreneurs goes over the four P’s of marketing and provides worksheets that help organize all the factors to consider in your marketing plan.

  1. Product. The right product to satisfy the needs of your target customer.
  2. Price. The right product offered at the right price.
  3. Place. The right product at the right price available in the right place to be bought by customers.
  4. Promotion. Informing potential customers of the availability of the product, its price and its place.

Another document from the New Ventures project is Elevator Pitches: Showcasing your Business. While developing your marketing strategy, crafting your elevator pitch should be part of the process. Distilling all the knowledge you have about your product or service into a quick blurb might seem difficult, but this document will help explain what an elevator pitch is for and how to develop and deliver it.

Resources

Marketing’s Four P’s: First Steps for New Entrepreneurs – Purdue Extension (EC-730)
This publication introduces the four P’s of marketing and includes worksheets that will help you determine the most effective marketing mix for your business.

Elevator Pitches: Showcasing your Business – Purdue Extension (EC-762-W)
This document will help you understand and be able to take the necessary steps to develop and deliver a successful elevator pitch.

Branding and Marketing talk for Small Food Businesses – Kitchen Convos at the Northern Kentucky Incubator Kitchen (podcast)

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