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The market strategy that you choose will be determined by the attributes of the product or service relative to the market. The product or service is either new or currently existing. The market in which you plan on selling your product or service is also either new or already existing. There are therefore 4 possible combinations that exist. They are as follows:
| Market Penetration |
Existing product into an existing market. |
Try to increase sales of a product you are currently selling in its present markets. |
| Market Development |
Existing product into new market.
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Increase sales by selling present products in new markets. |
| Product Development |
New product into existing market.
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Offering new or improved products for present markets. |
| Diversification |
New product into new market.
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Moving into totally different lines of business. |
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.
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.agf.gov.bc.ca/busmgmt/
Excellent site for
business plan guides.
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