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AREC 315 - Agribusiness Economics and Management

Section 3: Marketing Plan

What to include:

  • What is the nature of the industry? e.g., conduct an industry AND competitor analysis to assess the competitive environment, the growth trends and key driving forces of the industry, AREC 315 Business Plan Project Assignment Fall 2024 2/7 such as the demand and supply factors. Research and analyze both the national and local markets. [Ch.6]
  • Use either SWOT analysis or the Porter Five Forces Model to assess the business, e.g., weaknesses and threats to address? Strengths and opportunities to capture? How will your business address them? [Ch.6]
  • What are the competitive advantages of your business? How can your business survive in your industry? [Ch.6]
  • Identify the key characteristics and needs of the target market(s). [Ch.8]
  • How will your products be marketed? What is your marketing mix? [Ch.7]
  • What resources will you need to market your products?
  • What are the forecasted sales? [Ch.8]
  • What marketing risks does your business face? What will you do to mitigate these risks?

Key research areas:

Explore these sub-pages on the left to find strategies and recommended resources for the different kinds of research you might conduct when completing the Marketing Plan.