Marketing a Food Product

Video Transcript

"Hi, my name is Mark. And we're going to look at how to market a food product. Depends what type of food product we're talking about. If you're a food manufacturing organization. And you have a brand name. Then of course, things are structured a little bit more clearly. Other than if you're a small entrepreneur introducing a food product for a market. Big question of course, is how you're going to distribute this product? Is it a fresh product or is it a packaged product? Is it a frozen product? What type of product is it? And how do you see it being sold? Are you going to sell it to small little retail shops or to food outlets? Or to super markets? How is this going to be moved? This is the question. But really more importantly when you think about a marketing element of it. You need to think about the basic aspects of what the food product is? Who the target market or the segment market is? How it's going to get distributed? Have you done some most important Market Research about this type of product? Prior to even contemplating anything else. Who is this product aimed at? Who is this segment? Who is the target audience? And how do you see them consuming it? What it's attractive features? What it's attributes? What makes it an attractive type of product? Where's it meant to be at? Is it meant to ate there and then. Does it have to be eaten there and then or is it, can be stored? What's it's appeal? What's it's interest? Where again, is it going to be consumed? Think about this. Once you have this, then a research is being conducted. Then you obviously have to think about how it's going to be distributed. And then of course, the pricing aspects of it. Is it competitively priced? Is it a premium product? Is it going to be found at only Delicatessens. Or something like this. What is the pricing strategy going to be? And then of course, how you're going to promote this, ready promote this? Is it a product that's going to have national distribution. Therefore you need to promote it on a broadcast medium. Or is it going to be a word of mouth thing. Is it something that's so special. That once somebody gets in their hands. They're going to spread the word. O.k., you need to think about all of these things before starting. One final element when we talk about promotion with food and marketing. That you might want to consider is the packaging. This is the real marketing element. The tangibility marketing element. This is what makes it appealing. The colors, the size, the shape. The potential, the image, the promise of what is being, what is inside the packaging. This is your real tool. And again depending on what, which channels you're selling it to. You can make this very, very appealing. So you need to think carefully about the design and the packaging element."