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A thorough assessment of the market is key to the success of any product launch. Many product failures can be traced back to poor market research and analysis. It is imperative that you have a thorough understanding of the market into which you plan on selling your product. It is also important that you understand the attributes of your product that are unique in some way to your product and are also in demand by the clients that you are targeting.
Too often products are brought to the market that are simply not wanted, or not at the desired price. Market research allows you to examine this early on in the development stage when changes to the product are still possible or before extensive expenses are incurred. While market research is not a guarantee of a successful product, it greatly increases the chances of success and also sets the stage to selection of market strategies and tactics.
Suggested Resources
http://web.extension.uiuc.edu/iidea/
IDEA-Initiative for the Development of Entrepreneurs in
Agriculture-was created by University of Illinois as a statewide initiative.
IDEA conducts research, develops educational products, and provides services
that encourage farmers to incorporate entrepreneurial strategies which direct
their marketing efforts to meeting consumer demand.
http://www.georgemorris.org/GMC/Home.aspx
As an independent think-tank, the Centre
provides industry decision makers with critical information and analysis on
issues affecting the Canadian agri-food sector.
http://susag.cas.psu.edu/default.html
A website to
server as a sustainable agriculture information center which highlights ongoing
activities in sustainable agriculture.
http://www.e-markets.com/
E-Markets offers a suite of Supply Chain
Management tools for the agrifood industry. Their applications eliminate
barriers between buyers and sellers, enable information sharing across the
agrifood value chain, and streamline back office processes resulting in
significant return for our customers
http://www.usda.gov/wps/portal/usdahome
USDA provides comprehensive market and trade data research
and reports. Users can utilize the numerous databases to search by product or
country. Forecasting is made possible with the in depth reports produced by
USDA. The Economic Research Service provides key indicators, outlook analysis
and a wealth of data on the U.S. food and agricultural system. Along with
information on farming practices, structure and performance.
http://www.agmrc.org/agmrc/default.html
The Agricultural Marketing Resource Center is an
electronic, national resource for producers interested in value-added
agriculture.
http://www.sare.org/index.htm
Since 1988, the Sustainable Agriculture Research and Education (SARE) program
has helped advance farming systems that are profitable, environmentally sound
and good for communities through a nationwide research and education grants
program
http://www.nama.org/
This
website by the National Agri-Marketing Association (NAMA) allows you to connect
with other leading industry professionals - in marketing, advertising, public
relations, media and more - to gain a unique perspective.
http://www.agrimarketing.com/
Published
since 1962, AgriMarketing is the only magazine that covers the
unique interests of corporate agribusiness executives and their communications
agencies, the farm media, and the trade associations that serve the
agricultural industry.
www.farms.com
Agriculture
news, commentary, weather and markets.
http://dtnag.com/dtnag/
Information on the markets, news
production, farm business and much more.
http://www.sustainablemarketing.com/
A unique website on sustainable marketing,
organic marketing, environmental marketing, and green marketingservices, information, and
education. This website is a unique
community of sustainable and green marketing entrepreneurs – making connections
to each other — and to customers.
http://www.adfarmonline.com
A
full-service marketing communications agency 100% dedicated to agriculture. We work only with agricultural clients to
help achieve their business and marketing goals.
www.ces.purdue.edu/extmedia/agecon.htm
Purdue Extension website.
Numerous articles available for market research on a wide array of topics.
www.agf.gov.bc.ca/busmgmt/
Excellent site for
business plan guides.
www.ers.usda.gov/Briefing/ARMS/
Agriculture resource
management survey results from USDA.
www.agmrc.org/agmrc/
National information
resource for value-added agriculture, business development, research,
commodities and products.
www.agmarketing.ifas.ufl.edu
Florida Agricultural
Market Research Center, University of Florida. Mission is to foster growth of
Agriculture and agribusiness firms by strengthening and improving markets.
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