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2. Market Research and Analysis Print E-mail

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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