SustainAgri Module 6: Marketing and Networking Summary
Marketing involves all actions and processes which aim at drawing in customers and maintaining relationships with them, promoting products and giving access to those products, and maximising profitability.
The 4 ‘’Ps’’ in Marketing
- Product; a business should strive to satisfy customer demands or fill market gaps with its products. When marketing a product, it is important to understand the product and how it is distinct from the competition.
- Price; when establishing prices for their products, Agripreneurs should consider the costs (marketing, production, distribution) and competitor pricing.
- Place; (or Distribution) refers to the product distribution channels (physical stores, online stores)
- Promotion; the term ‘promotion’ refers to activities such as advertising, sales, public relations, marketing campaigns etc.
Agripreneurs should plan targeted marketing strategies for their business in order to maximise their chances of successfully reaching their short and long-term goals.
When planning a marketing campaign for their business, Agripreneurs should define the goals. The definition of goals can help them plan appropriate actions to achieve them while making resource expenditure more efficient. Of course, marketing campaign goals vary from agri-enterprise to agri-enterprise, and their range may include:
- To increase sales and profit
- To build brand awareness and grow market share
- To launch and advertise new products or services
- To expand the customer base and to enter new markets
- To improve stakeholder or customer relationships
Elements of a Successful Marketing Campaign
- Definition of marketing campaign goals
- Research on Customer Base and tailor-made campaigns
- Use contextualised, appropriate and relevant communication messages
- Maintain consistent and communication
- Use of multiple communication channels
- Setting Key Performance Indicators (KPIs), Measurement and Evaluation
Finally, when planning the frequency of their communication with customers, Agripreneurs should consider the following:
- Timing of commercials and other content (i.e. high TV viewership hours cost more, but offer more exposure)
- Frequency of commercials and other content; too frequent or too sparse creates the risk of losing the attention of customers
- Is the target customer group a) existing customers or b) prospect customers? People do not want to hear too much information about something they already bought or buying frequently
- The duration of the sales cycles; is the Agripreneur launching a limited-time product or are they aiming to keep the customers engaged in the long-term?
- Current market demands and trends; this way they limit wasted resources