Marketing Plan for a Food Product – How to Formulate and Prepare a Coherent Plan for Marketing Food Products
You must complete a marketing plan for a food product before you start publishing and distributing your products. A plan is the roadmap that leads your product to success.
Too often, food consultants are looking for marketing answers without understanding some of the basics of brand awareness. As a small business food marketing specialist, you should focus on establishing and gaining a foothold in your target market before deciding which direction to take.
What is a marketing plan for a food product?
A marketing plan for a food product is a set of processes and procedures according to which you can effectively sell food products to customers in the market.
It is a promotional strategy that guides food business owners on how to develop a strategy to market their products in the food industry market. As you know, the competition is tough when it comes to food; That is why it is necessary to carefully develop a marketing plan for a food product. It is a helping hand in achieving goals and sets a good brand and image for your food business.
People like to eat different types of food. In fact, some people travel just to taste foods from different cultures. A statistical report revealed that in 2017, food establishments in the United States served 728,000 food and beverages to tourists.
If this is the case then a lot of food business owners are making money through food business, may it be restaurants or food truck. But it takes a lot of hard work and great effort to run a food business.
The importance of the “marketing plan for a food product” for any food company
Putting your dishes or food products on the market is not an easy task, it needs a lot of preparation and business processes to be able to successfully display your dishes in the food industry market.
Any food marketing plan is an ideal tool for the successful distribution of your products in the market. It contains marketing strategies that help shape the structure of how you market your food to your potential customers. The owner of the food company must complete his food marketing plan so that he can ensure that his food products are put on the market successfully.
How to write a marketing plan for a food product
There are many sample documents for a food product marketing plan online, but if you want to create your own plan, here are some steps and guidelines you can follow:
1. Building a Business Model:
Business models are an essential part of a marketing plan for your food product. It is how you can create a successful operation and determine the economic value of your business.
The business model also creates a better view of how you can make more money from your food products. It also helps you to form a value proposition of how you can offer great food products to your potential customers.
2. Preparing and developing a SWOT analysis
Developing a SWOT analysis helps you identify the factors that lead to the strengths, weaknesses, opportunities and threats in your business. As you identify these factors, it will help you build a strong foundation for your food marketing plan since you already have your food business needs covered. It is an essential tool for your marketing plan because it helps you understand the elements that will lead to the failure or success of your food business.
3. Integration of various marketing activities
Marketing activities should also be part of a marketing plan for any type of food product. An example of this is giving out free samples of your food products to your potential customers.
Through marketing activities, you can identify the changes that you must make in order to provide a better food product or service for your project so that you can maximize the number of customers.
4. Identify your customers’ needs
You must determine what your customers’ needs are in the food product marketing plan. It can help you develop strategies on how to treat your customers in a much better way.
Customers love it when they are provided with great service and amazing nutritional products at the same time. For example, you can place your food products in a supermarket other than your own store.
In this way, a wide range of customers can easily purchase your products. It will also help you build a good business reputation which is a huge advantage since there are many competitors in the food industry.
5. Connect with your team
Building a marketing plan for a food product requires a great and competent marketing team. While you are developing certain strategies, it is always a good idea to maintain open communication with your team. This is important because it enables you to share your ideas with your team so that you can create an effective food marketing plan.
Communication is an essential tool among your team members because crafting a marketing plan for a food product is no walk in the park. You will face many frustrations and difficulties, so it is essential that you keep an open mind and communicate effectively with each other.
6. Create brand awareness
Do consumers know your brand exists? Twitter is a food entrepreneur’s best friend. With Twitter (and other social media platforms), you can reach your intended customers instantly. They can also reach out to you, offering feedback or ideas that used to take months to gather.
In-store surveys are still a great way to reach consumers and solidify your brand. You can combine these surveys with nutritional demos to give consumers a chance to try your products and give feedback.
7. Influencing consumer preferences
Building brand awareness is the first step – you need a way to influence consumer preferences. Set up a blind taste test in a neutral location, allowing consumers to sample your product and those of your competitors.
Find out which brand they prefer, and most importantly, find out why. Is it the taste, the packaging, or what they think you stand for?
Developing a product positioning statement is a prerequisite to helping you think about your entire brand experience. Make sure the public knows if your operation is “green” or if you support a favorite charity. Any factors that can differentiate your products from your competitors will contribute to improving your brand awareness and preference.
8. Establish and maintain brand recognition
When consumers see your logo or ads, you want them to be able to identify your business and associate it with positive attitudes.
This is what you want to establish and maintain. You can experiment with creating a song that’s memorable and uplifting, and work to make sure it gets played over radio, streaming media, or television.
9. The power of perceived value
Perceptions of value come in all shapes and sizes. Value is a function of quality, price and quantity. Every consumer will be different in how they value products.
Perceived value is the value to the consumer, from the consumer’s point of view. This is what they want from a product. This could be container reliability, longer life, easier to read labels, or being better for their health while being more affordable.
Products and services need not necessarily be the lowest priced to obtain the best perceived value.
11. Brand and product life cycle
Are you up for a new product launch, relaunch, season based product or are you the only brand trusted for generations? You can position each one of these as a positive branding feature.
12. Find the right distribution channels
If you’re selling a single product that’s geared towards youth, you don’t want to overlook the convenience stores. Conversely, if your product lends itself to wholesale sales, be sure to approach warehouse club stores.
Remember that with the spread of electronic retail and newer technology, traditional supermarkets now account for less than half of all food product sales. You should be looking at electronic retailers for distribution opportunities.
13. Get more market share
Even the most dominant players in an industry can be excluded from some market share. Pie size is limited, so the only way to get more pie is to remove it from someone else. Create a plan to earn your way to more shares of the pie.
You can look at line extensions (eg, more items, more SKUs), expand into more sales channels, or create a strategic joint venture with a compatible, non-competitive player.
All of these options enable you to increase your size. For example, if you sell peanut butter, contact a jelly and jam maker, and set up a joint venture (a limited partnership between companies that dissolves once goals are met) to use each other’s marketing power to raise awareness.
14. Trade fairs
Retail food and beverage products require the development of attractive selling propositions because retailers hold the keys to the shelves. You can join a retailer or wholesaler trade association and serve on committees to develop relationships with them to gain an edge.
For more exposure, attend or display at trade shows, refer other food entrepreneurs to the retailer, or author guest columns for the trade press.
15. Long term goals
It’s easy to fall into the trap of just promoting the deal of the week. While this approach may keep your products on the shelves, it does not build your brand.
Consumers are fickle and will change brands to get the lowest price. To build loyalty, you need to constantly advertise and promote your brand attributes, both tangible and intangible.
Engaging in cause marketing helps multiply effort and results. Consumers will always support a brand they believe supports their ideas, lifestyle, and values. Show that you care about their values, and customers will continue to buy from you and promote your brand for you.
16. Brand building through social media
Food entrepreneurs must interact with their customers because people like to have an opinion and to be heard. Social media has made it easier for consumers to receive or inquire about package design, pricing, and promotions before they go to the market.
As you can see, a marketing plan for a food product helps build a business in the food industry. It helps foodies understand that marketing your food products is not easy, and it takes more than hard work for your marketing plan to be successful.
Therefore, if you are a business-oriented person with a great passion for food, take a food marketing plan as an opportunity to start your own food business so that you can earn and do what you love at the same time.
Can I include a budget plan in a marketing plan for a food product?
Yes, a budget plan is an important part of the marketing plan for your food products. Marketing operations often require a good amount of budget in order to be able to be made and implemented.
Therefore, you need to ensure that you have the right budget so that you can cover all the expenses of your food marketing plan.
Will my target audience depend on the type of food I produce?
Yes, you must understand that your target audience is solely based on the type of food products that you produce. For example, if you offer healthy foods in your establishment, your target audience should be people who lead a healthy lifestyle like vegans or fitness instructors.
It wouldn’t make sense if your target audience didn’t align with the type of food products you make. This will have a negative impact on your business, and you may lose customers as well.
How do I start my plan to market food products?
You can start a food marketing plan by doing a great deal of research. It is a strategic way to analyze all the important factors that you will need to cover in your food product marketing plans such as pricing strategies and market analysis.
Research is how you can obtain and use important information as you develop your food marketing plan.