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    Marketing Cut Flowers

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    Sohail Khan
    This document provides information on developing a marketing plan for cut flowers. It discusses defining marketing and value, conducting market research and analysis to understand target consumers, developing a value proposition, setting objectives and financial goals, and strategies for the marketing mix. The key aspects are to plan thoroughly, keep costs low, start small, find untapped marketing channels, understand consumer demands, provide excellent service, and monitor the impact of marketing activities on sales.

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    Marketing Cut Flowers

    Uploaded by

    Sohail Khan
    273 views17 pages
    This document provides information on developing a marketing plan for cut flowers. It discusses defining marketing and value, conducting market research and analysis to understand target consumers, developing a value proposition, setting objectives and financial goals, and strategies for the marketing mix. The key aspects are to plan thoroughly, keep costs low, start small, find untapped marketing channels, understand consumer demands, provide excellent service, and monitor the impact of marketing activities on sales.

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    This document provides information on developing a marketing plan for cut flowers. It discusses defining marketing and value, conducting market research and analysis to understand target consumers, developing a value proposition, setting objectives and financial goals, and strategies for the marketing mix. The key aspects are to plan thoroughly, keep costs low, start small, find untapped marketing channels, understand consumer demands, provide excellent service, and monitor the impact of marketing activities on sales.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    273 views17 pages

    Marketing Cut Flowers

    Uploaded by

    Sohail Khan
    This document provides information on developing a marketing plan for cut flowers. It discusses defining marketing and value, conducting market research and analysis to understand target consumers, developing a value proposition, setting objectives and financial goals, and strategies for the marketing mix. The key aspects are to plan thoroughly, keep costs low, start small, find untapped marketing channels, understand consumer demands, provide excellent service, and monitor the impact of marketing activities on sales.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 17

    Marketing Cut Flowers

    Russ Bragg Marketing Specialist Center for Profitable Agriculture

    What is Marketing?
    Marketing is the delivery of customer satisfaction at a PROFIT. The twofold goal of marketing is to attract new customers by promising superior value and to keep current customers by delivering satisfaction.
    Jim DeCorsey CEO Elanco

    What is Value?
    Value-Added Agriculture
    Value is defined as the desirability or worth of a thing; intrinsic worth; the ratio of utility to price. Utility is the level of usefulness that a product has toward an individuals personal preference.

    One mans trash is another mans treasure

    First Things First


    PLAN, PLAN, PLAN
    Outline reasons for entering business Existing Inventory
    Flowers, Trees, Shrubs
    Planted and Natural Dogwood, Magnolia, Roses, Hibiscus

    Location and Existing Land Features


    Major Cities, Tourist Areas, Streams, Mountains

    Previous work experiences


    Management, Special Skills, Personal Interests

    Marketing Plan
    Introduction Market Research and Analysis Marketing and Financial Objectives and Goals Marketing Strategies Marketing Mix / Marketing Tactics Marketing Budget Monitoring and Evaluating Market Response Marketing Plan Check List

    Marketing Plan
    It is not the PLAN that is important, It is the PROCESS

    Market Research and Analysis


    Situation Analysis Comprehensive investigation into the business of cut flowers Target Market Identification and Description Where is the MONEY? What do they WANT? Competitor Analysis What makes them good? What makes them bad? Product/Service Analysis What is my VALUE proposition How will I deliver this VALUABLE product portfolio

    GE Strategic BusinessPlanning Grid


    Business Strengths Can we handle this venture?
    Financially Emotionally Physically

    Industry Attractiveness What is the current State of the industry:


    Growing Stagnate What are the analyst saying

    Understand Consumers
    Key to successful marketing:

    Know Your Consumer


    Census and demographic information.
    http://www.easidemographics.com/ http://www.census.gov/

    Target Market & Value Proposition


    Product Based Approach

    Product

    Cost

    Price

    Value

    Customer

    Customer Based Approach


    Customer Value Price Cost Product

    Source: Thomas T. Nagle and Reed K. Holden, The Strategy and Tactics of Pricing, 2nd ed. (Upper Saddle River, NJ: Prentice Hall, 1995), p.5.

    Value Proposition
    What can you offer that California, South America, Mexico, Holland cant? Is the market willing to pay for it? Potential Value Propositions:
    Locally Grown Flowers Flowers and Plants that are extremely perishable Free delivery or discounted delivery charges Superior Quality and Varieties

    Marketing Objectives and Financial Goals


    Have GOALS for all activities
    It is best to quantify your marketing goals
    For every advertising dollar, I want three dollars in net profit I want to increase sales 10% by targeting working mothers through home delivery

    Objectively determine financial GOALS


    I want to increase the net profits on the farm by $10,000 in the first year Be REALISTIC

    Marketing Strategies
    Market Penetration
    Making your piece of the pie bigger

    Market Development
    Making the whole pie larger

    Diversification
    Involves more or different products

    Product Development
    Changing existing products to meet consumer preferences

    Marketing Mix / Marketing Tactics (The 4 Ps)


    Product
    Variety, Quantity, Features

    Price
    Retail Price, Wholesale Price, Discounts

    Promotion
    Advertising, Personal Selling, Public Relations

    Place
    Supply Chain, Logistics, Assortments, Locations

    Marketing Budget
    Efficiency, Efficiency, Efficiency Look for low cost, high value, labor intensive methods Plan to expect higher than planned expenses Talk to the consumer (Who, What, When, Where and How?)

    Monitoring and Evaluating Market Response


    Keep records and use a computer ExcelTM is a great tool for small businesses Monitor sales before and after the marketing or promotional activity Determine the ratio between marketing cost and sales increase or decrease

    Bring It Together
    PLAN, PLAN, PLAN Keep costs low Start Small Look for untapped marketing channels Grow Consumer Demands Raise the bar Service is a MUST

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