· Who will purchase the product?
· Why will they buy the product?
· How much will the product cost?
· Where can consumers find the product?
The answers to these four questions are essential to defining the farmers target market. Once you have answered these questions, condense your answers into an innovative and market-informed description. In addition, you will need to formulate and write out a plan showing how your product will provide consumers with what they are looking for as well as how you will attract the consumers to your product. Competitive pricing that will still allow you to make a profit must be considered.
Once you have completed these steps, you will have a better idea of who will buy your products, what they are looking for and how your product provides both of these aspects. The best way to answer these questions is to look at the product from the perspective of the farmer’s target market – both the end consumer and the channel market. Now it is time to figure out what your product is, how to package it for the best presentation and for which need the product is beneficial.
Once you have answered these questions, here is another question that is extremely important. How will your product be more beneficial to consumers than that of your competitors? Market positioning will be how your product is viewed by consumers. This requires combining information about the product, the market you will target, your competition and your industry. Consider your product from the viewpoint of the consumer and your competition.
How do you make the consumer want to choose your product over that of your competition? Making connections is the key. The connections will be made through the businesses that warehouse and distribute your product to direct consumer contacts as well as representatives of your product in the business world. They are channel businesses. There is not a one-plan-fits-all for every market. To create an effective farmer’s target market all of these aspects will determine the market and result in consumer purchases.