Developing and implement marketing plan

Reference no: EM132356715

Instructions to Student

General Instructions:

Utilising information compiled from your Whole farm plan where you have identified markets for either the current enterprise or identified potential production. Ensure that all market reports used are from a reputable source and reference all materials used. For the review of the marketing plan utilise market prices for the previous 12 month cycle at a time when your product is ready for market. Eg wheat harvested in late September, vealers turned off in May.

Assessment Criteria:

To achieve a satisfactory result, your assessor will be looking for your ability to demonstrate the following key skills/tasks/knowledge to an acceptable industry standard:
• Analyse market information
• Identify and evaluate factors to include in a marketing plan
• Develop a marketing plan for your products and services
• Determine promotional strategies
• Implement marketing activities
• Evaluate marketing performance

1. Market Analyse
a. Research markets for existing or new products for your enterprise.
b. Identify the product specifications for the product that you are marketing.
c. Identify and evaluate competing products and compare to your product to determine strengths and weaknesses of your product.
d. Look at past trends in the markets, analyse these trends to assist in determining market variability.
e. Decide whether you are using a marketer/selling agent or doing your own marketing. Explain why?
f. Identify alternative selling strategies for your product.If you were to market your own product explain how you would do this, who is your target clientel, what promotional materials would you use?
g. Develop a gross margin for your product to establish viability
h. What are the legal, ethical and environmental constraints on production that effect the marketing of the product.

2. Developing and Implement marketing plan
a. Develop measurable performance targets that meet business plan objectives
b. Identify and evaluate the production process to ensure your product meets the market specifications
c. Identify and assess distribution channels and their role in your marketing strategies
d. Establish production calander to enable product to be marketed at time of maximum price return. Include what restraints restrict production at various times of the year.

3. Review marketing plan. For your existing product, create a document that will enable effective evaluation of the product performance. Utilising pricing from the previous 12 months evaluate the performance of your product against these prices.
a. Did your product meet market specifications.
b. Did the cost of transport and distribution effect cost of production
c. Did production restrictions effect the timing of your product into the market and reduce the price received.
d. Evaluate the gross margin

Reference no: EM132356715

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