If You Fail to Plan, You Plan to Fail

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Presentation transcript:

If You Fail to Plan, You Plan to Fail Market Planning If You Fail to Plan, You Plan to Fail Presented by Gregory Connell, President & CEO Nurture Atlantic Inc., NS & NB

About Nurture Atlantic Who We Are Experienced professionals in consumer products Servicing food, beverage and health clients Working in various areas of supply chain in Atlantic Canada Offices in New Brunswick and Nova Scotia

About Nurture Atlantic What We Do Focus on Creating & Cultivating Consumer Products Offer Strategy & Advisory Services Business & Market Development Value & Product Development Design & Brand Development

Market Planning A Roadmap to Success Situation Analysis Challenges & Opportunities Goals & Objectives Strategy Action

Situation Analysis Research – What You Need to Know Market size, market area Consumer trends Consumer demographics Taste, variety Packaging, merchandising Environment Competitors, pricing Retail & wholesale trends Direct store delivery, wholesale

Situation Analysis Research – Sources Online - web, blogs, social media Retail - farm markets, supermarkets Food service - restaurants Supply chain - wholesalers retail & food service Sampling - consumers, wholesalers Test markets - farm markets, local stores Surveys - consumers, wholesalers, Focus groups - consumers, employees Third party - industry, other

Challenges & Opportunities Getting Past the Roadblocks Limited market size? Market location? Changing consumer demographics? New or improved product? Taste & variety options? Unique packaging? Innovation? Merchandising limitations? Environmental consideration? Competitor pricing? Distribution?

Objectives Where to Go Market Area - local, national, export Target Market - demographic type Product - size, flavour, package type Price Point - $3.09 or $2.99 Retail - farm market, supermarkets, food service Distribution - direct store delivery (DSD) and/or wholesale Timelines - Year 1, Year 2, Year 3 Revenue - Year 1, Year 2, Year 3

Strategy How to Get There Market Area - determine where Target Market - focus on chosen demographic Product - create product plan Price Point - determine price point Media - types of media Retail - phase in process Distribution - direct store delivery (DSD) and/or wholesale

Action Plan The Tool Box Sell Sheets - design & print Packaging - design & print Media - development Web - development or update Sampling - support tools Promotion - activities Budgets - determine cost Schedule - create timelines

Recap The Steps to Success Situation Analysis Challenges & Opportunities Objectives Strategy Action

Marketing Plan Share with Stakeholders! Cover page Introduction Situation Analysis Challenges & Opportunities Objectives Strategy Action Summary

If You Fail to Plan, You Plan to Fail Market Planning If You Fail to Plan, You Plan to Fail Presented by Gregory Connell, President & CEO Nurture Atlantic Inc., NS & NB