It is incredibly easy to price yourself out of your market with food products. In some instances, being off on a price point by less than 1% is enough to send a potential customer to a competitor’s product! It must be remembered that nothing is worth more than what someone is willing to shell out to get it. Factor in all of the elements, including distribution, and find a profit margin per item sold that you’re comfortable having.
2. Cast a Wide Net
The success of your food products depends on how easily they can be identified in the store. At the average grocery store, for example, your product is competing for shelf space with 40,000 other products. If you use multiple marketing options to promote your products, you’ll create a higher level of brand recognition that will cause more people to seek out your items when they’re craving what you make.
3. Don’t Ignore Mobile Devices
One of the biggest segments of the population today is the Generation Y crowd. How companies market to them right now is likely the future of how all products are going to be marketed. That means having content, advertising, and even social interactions that are mobile friendly so that you can provide the instant recognition of a problem and the gratification that more people need in society today.
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robikulot
the 3 marketing strategies are print media, product display, and internet marketing
Answers & Comments
Answer:
1. Know Your Price Points
It is incredibly easy to price yourself out of your market with food products. In some instances, being off on a price point by less than 1% is enough to send a potential customer to a competitor’s product! It must be remembered that nothing is worth more than what someone is willing to shell out to get it. Factor in all of the elements, including distribution, and find a profit margin per item sold that you’re comfortable having.
2. Cast a Wide Net
The success of your food products depends on how easily they can be identified in the store. At the average grocery store, for example, your product is competing for shelf space with 40,000 other products. If you use multiple marketing options to promote your products, you’ll create a higher level of brand recognition that will cause more people to seek out your items when they’re craving what you make.
3. Don’t Ignore Mobile Devices
One of the biggest segments of the population today is the Generation Y crowd. How companies market to them right now is likely the future of how all products are going to be marketed. That means having content, advertising, and even social interactions that are mobile friendly so that you can provide the instant recognition of a problem and the gratification that more people need in society today.