Question

Topic: Strategy

How Do I Promote/market My Product Locally?

Posted by Anonymous on 7/3/2009 at 4:48 AM ET 250 Points
I have been baking for decades and have finally decided to utilise my skills in a potential business after much encouragement from people over the years. trouble is I have no experience, as many people do at this stage, of where to start.
I want to undertake market research, but how?
I want to promote my product, but how?
My local area is very diverse in terms of finances: a university town with thousands students/tourism/affluent people/organic minded people/multi cultural backgrounds.
I need to be able to offer a competitive price, but presently only purchase ingredients at retail price.
Do I need to legally protect my product at any stage?
I don't know how to package my goods
I am very creative minded and like people and am flexible.

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RESPONSES

  • Posted on 7/3/2009 at 7:49 AM Accepted
    ssamina,
    your ques is very open ended as you have not mentioned the product category, type, features or anything. The marketing and esp the research part will depend upon the product you want to sell.
    Still what I can tell you is that answer following questions to yourself:
    1. Why will people buy that product
    2. Who will but that product (target customer)
    3. Why will people buy from you and not somebody else (competitive advantage)
    4. What price are they charging and what are the difference in the features of theirs and yours
    5. Are you using some process or knowledge which others do not have? If yes then can they use it once you launch your product which will affect your sales? If yes to both then you will have to legally protect your product.

    Hope this helps. Apart from this you will need to check your costs and expected revenues too.
  • Posted by Jay Hamilton-Roth on 7/3/2009 at 9:07 AM Member
    You'll no doubt need to first find 3 things: a commercial kitchen, licensing (public health operating license, business license, and maybe a DBA), and a lawyer (to protect you & your business should someone get sick and sue you after eating your food).

    Next, you need to need to figure out what you're selling, at what price point, and calculate backwards to see if you can afford to make/sell it.

    If you have access to a local SCORE or SBA chapter, take advantage of their free knowledge. This type of business is "bread and butter" to them.
  • Posted on 7/3/2009 at 10:57 AM Author
    thank you all very much for all the valuable advice.
    the product I am primarily focusing on is biscuits, but am also able to bake savoury pastries and cakes. i think there is a niche market for my particular product but unless i get the entire product, price, promotion and place strategically correct i know i will be lost. from all the answers i think i really need professional advice and a business plan. i welcome more elaboration from members. thanks
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