Marketing Plan Slides – Flashcards
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Market Analysis (slide 7)
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Let's look at the competition. Most meat is purchased by consumers at local grocery retail outlets, and it may either be branded or unbranded. There is not a locally produced, branded pork product.
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MA (Market analysis continued- slide 7)
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Fareway Stores offers larger packages of meat - including a "half-hog bundle" that is 35 pounds and priced at $119.99, which is $3.43/pound. The meat is not branded.
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Fareway SWOT (slide 8)
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Let's take a look at the Farewat SWOT. A few of the strengths that Fareway offers are it's a well-known retailer that is convenient for shoppers who are wanting to buy a meat bundle but can also do other grocery shopping at the same time.
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F SWOT (Fareway SWOT Weaknesses- slide 8)
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Some of Fareway's weaknesses are that they don't carry a branded product, and their vulnerable to pork supply and its impact on their prices and profits.
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F SWOT (Fareway SWOT Opp.- slide 8)
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Opportunities that Fareway has are that they have a reputation as a top quality meat supplier; people choose Fareway because of its meat counter.
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F SWOT (Fareway SWOT threats- slide 8)
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Lastly, a few of their threats are, there's other grocery store chains in the area, and farmers markets offering meat.
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Stewart's Five Star Meats SWOT intro (slide 9)
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Stewart's Five Star Meats can offer a high quality, consistent pork product. The animals are bred, born and raised by the Stewart family and family members who are directly involved in the animals' daily care.
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S SWOT (Stewart's Five Star Meats SWOT intro 2- slide 9)
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The pork has a rich flavor, superior tenderness and natural juiciness. The bacon is second to none. Their weakness is that they have only sold their pork product to family and friends.
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S SWOT (Stewart's Five Star Meats SWOT walk through- strengths slide 9)
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Stewart's Five Star Meats strengths are that they sell branded pork product, and have superior meat quality-Duroc.
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S SWOT (Stewart's Five Star Meats SWOT walk through- weaknesses slide 9)
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Some of Stewart's weaknesses are that it is not well-know, and customers have to make a special trip to the locker.
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S SWOT (Stewart's Five Star Meats SWOT walk through- opp. slide 9)
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It offers capitalize on the interest in buying a local meat product.
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S SWOT (Stewart's Five Star Meats SWOT walk through- threats slide 9)
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Lastly, some threats are that disease could impact production, and production costs fluctuate.
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Strategies and Action Plan (slide 22)
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Next we will discuss the strategies and action plan, which includes a look at: - The product and the price - Distribution - Promotion
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Product and Price (slide 23)
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We will be offering a 40 pound pork bundle. The pork bundle is 40 pounds and includes the cuts outlined here. The cost is $3.75 per pound.
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Slaughtering, processing and distribution (slide 24)
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The Steege Meat Market is a state-certified locker for both the slaughtering and processing. It is ideally located in Cedar Falls. Stewart's Five Star Meats brand will be applied to packaging.
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Promotion 1 (objective- slide 25)
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The objective of the promotional plan is to increase awareness of Stewart's Five Star Meats.
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Promotion (limited budget- slide 25)
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Because of the limited budget, cost-effective tactics are recommended that will build word-of-mouth advertising and encourage repeat buying.
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Promotion (logo- slide 25)
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We've designed a Stewart's Five Star Meats logo and recommend it be featured on packaging and incorporated throughout the communications tactics.
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Promotion (website- slide 25)
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We recommend you create a brand website to provide information about products, and contact and ordering information. People can sign up to receive an e-newsletter, which would feature promotions, recipes and testimonials.
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Promotion (brochure- 25)
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A brochure will be created and include ordering information.
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Promotion 2 (events- slide 26)
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We recommend hosting several events to garner media coverage and encourage new customers to try the products.
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Promotion 2 (summer festival- slide 26)
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The first would be a to host a celebrity grilling contest in conjunction with the Waterloo/Cedar Falls summer festival.
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Promotion 2 (summer festival 2- slide 26)
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Invite local celebrities to participate, including an anchor or reporter from the local NBC station, editor from the Waterloo Courier, University of Northern Iowa coach, mayor or public official. The winning griller would receive $500 to go to a charity of their choice.
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Promotion 2 (fall event- slide 26)
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Another event idea is to sponsor a contest among area schools in the fall. Each time someone purchases a pork bundle or signs up for the website e-newsletter, they can earn points for the school of their choosing. The school with the most points wins $500 for their local booster club.
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Promotion 2 (holiday/spring event- slide 26)
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Before the holidays, we recommend hosting a holiday recipe contest. Winning entries for the best pork appetizer will be featured on the website and the winners will each receive a holiday ham. In the spring, we recommend you become a vendor at the Cedar Valley Bacon Fest.
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End-(Thank you- slide 34)
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In summary, FAR Marketing looks forward to helping you: This plan will help you by the end of 2016: To market 20 pigs per month under the Stewart's Five Star Meats label Increase net income before taxes to more than $50,000 Thank you!
