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Marketing Strategies: Understanding the 5Ps and Positioning for Differentiation, Study notes of Marketing

An overview of marketing concepts, focusing on the 5Ps (Positioning, Product, Price, Place, and Promotion) and their role in differentiating a product from competitors. market research, product development, target market identification, and various positioning strategies. It emphasizes the importance of being market-oriented and understanding consumer needs.

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2021/2022

Uploaded on 09/12/2022

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YOU WANT TO MAKE A CHANGE-
HOW DO YOU PROCEED?
Shermain Hardesty
Agricultural & Resource Economics
UC Davis
OVERVIEW—6Ps
o POSITIONING
o PRODUCT
oPRICE
oPLACE
o PROMOTION
oPLANNING
WHAT IS MARKETING?
o Process of creating and exchanging
products (and services) of VALUE to
others.
o It isn't just sales, and it isn't just
advertising.
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Download Marketing Strategies: Understanding the 5Ps and Positioning for Differentiation and more Study notes Marketing in PDF only on Docsity!

YOU WANT TO MAKE A CHANGE-

HOW DO YOU PROCEED?

Shermain Hardesty

Agricultural & Resource Economics

UC Davis

OVERVIEW—6Ps

o POSITIONING

o PRODUCT

o PRICE

o PLACE

o PROMOTION

o PLANNING

WHAT IS MARKETING?

o Process of creating and exchanging

products (and services) of VALUE to

others.

o It isn't just sales, and it isn't just

advertising.

MARKETING IS….

o Market research & planning o Product development

o Target market identification

o Label & packaging design

o Pricing o Advertising, demos, public relations, promotional events o Distribution o Evaluation

MARKET ORIENTED

o As a producer, you are very susceptible

to Marketing Myopia

„ = have product, find market

o Be market-oriented--focus on your

MARKET, NOT YOUR PRODUCT.

MARKET RESEARCH

o Market trends

o Customers’ characteristics, needs &

attitudes

o Competitors' products, strengths &

weaknesses

o You are competing for space in the

consumer’s stomachs & on store

shelves

POSITIONING STRATEGIES

o Product features

„organic „family farm

o Benefits

„prewashed „cooks in 10 minutes „no odor

POSITIONING

o specific usage occasion

„gift „portable breakfast

o user category

„kids „men--coyote nuts „environmentalists

TARGET MARKET

o Mass marketing vs. niche marketing

o Specific market segment

„Food quality conscious consumers „price-conscious consumers „upscale restaurants „schools

o Different products for different target

markets

4Ps OF THE

MARKETING MIX

o PRODUCT

o PRICE

o PLACE

o PROMOTION

PRODUCT

o Features washed & ready to cook cooks in 5 minutes fiery hot o Product name o Brand name „ Peter Rabbit Farms, ShortCuts „ Trademarking--Patent office http://www.uspto.gov o Labeling & packaging--your ultimate tool o Product mix

SPECIFIC PLACES

o Lakeport, Kelseyville, Ukiah, Napa Chefs’ St. Helena Farmers Market o CSAs o Whole Foods o Oakville Market o Veritable Vegetable o B&Bs o Bakeries o __________

PROMOTION

o Advertising o Sales promotion o Personal selling „ demos, special events o Point-of-sale materials „ shelf talkers, brochures, recipes o Website o Public relations o YOUR LABEL & PACKAGING!!!

PROMOTION

o Trade

„Trade shows--PMA, Fancy Food Show, Natural Products Expo „Trade Publications--The Packer, Gourmet News, Natural Products Merchandiser

THE 5 Ps--YOUR BASIC

MARKETING TOOLKIT

o POSITIONING

o PRODUCT

o PRICE

o PLACE

o PROMOTION

IMPORTANCE OF

PLANNING

o Your business plan is your road map

o Planning is required to obtaining

financing

o Planning is continuous

o Planning is a process

4 PARTS OF YOUR

BUSINESS PLAN

o Description of your business

o Your marketing plan

o Your financial management plan

o Your management plan

SEE www.sbaonline.sba.gov

MARKETING PLAN

o Situation analysis

o Opportunity & issue analysis

o Objectives

o Marketing strategy

o Action program

o Projected profit & loss statement

o Controls

SEEK OUT COMMUNITY

RESOURCES

o Small Business Development Center,

Lakeport

o Community Development Services

(CDS)

o Business Outreach & Response Team

(BORT)

o Community Colleges

FANCY FOOD SHOW

o Moscone Center, San Francisco

o January 18- o 1,100 exhibitors 50,000 specialty food products from around the world 25 international and state pavilions

o Preregistration deadline—January 16, $ o www.specialtyfood.com

TO MAXIMIZE YOUR

SUCCESS

o ANALYZE

o PLAN

o EXECUTE

o EVALUATE