WELCOME!

INTRODUCTIONS

I WANT TO KNOW ABOUT YOU!

WHAT IS YOUR PRODUCT?

WHAT SETS IT APART?

HOW MUCH DOES IT COST?

WHAT CHANNELS DO YOU SELL IT THROUGH?

WHO CURRENTLY BUYS YOUR PRODUCT?

WHO IS YOUR TARGET MARKET, EITHER CONSUMERS OR CLIENTS?

UNDERSTANDING YOUR COMPETITION

THE FIRST STEP TO DEVELOPING A GOOD MARKETING AND BRANDING STRATEGY IS UNDERSTANDING YOUR COMPETITION!

THIS IS IMPORTNANT SO YOU CAN:

KNOW WHO/WHERE YOU WILL TAKE MARKET SHARE FROM!

KNOW WHETHER YOUR PRICING IS CONSISTENT WITH SIMILAR PRODUCTS!

KNOW WHAT YOUR POINT OF DIFFERENCE IS AND CLEARLY COMMUNICATE IT TO YOUR CUSTOMERS!

CREATE A MARKETING/BRANDING STRATEGY THAT IS EFFECTIVE AND SUCCESSFUL!

MARKET STRUCTURE

WHAT CATEGORY(S) DOES YOUR BRAND FIT INTO?

IS YOUR PRODUCT A SNACK FOOD?

IS IT A HEALTH FOOD?

IS IT A BREAD PRODUCT?

IS IT A DESSERT?

EVENT CATERING? WHAT TYPES OF EVENTS?

EX: DULCE DE LECHE

WHAT CATEGORY(S) DOES IT FIT INTO?

IS IT A SPREAD? IS THE COMPETITION JAM? PEANUT BUTTER?

IS IT AN ICE CREAM TOPPING? IS THE COMPETITION CHOCOLATE SAUCE OR BUTTERSCOTCH?

EX: KOMBUCHA

WHAT CATEGORY(S) DOES IT FIT INTO?

IS IT AN ENERGY DRINK? IS THE COMPETITION POWERADE, GATORADE?

IS IT AN ICE TEA? IS THE COMPETITION SNAPPLE?

IS IT A MEAL REPLACER? IS THE COMPETITION BOTTLED SMOOTHIES? SLIMFAST?

EX: KELVIN SLUSH GOURMET SLUSHIES

WHAT CATEGORY(S) DOES IT FIT INTO?

IS IT A SORBET OR ICE CREAM? IS THE COMPETITION OTHER GOURMET SORBET COMPANIES IN THE CITY?

IS IT THE BASE FOR FROZEN ALCOHOLIC DRINKS? IS THE FROZEN MARGARITAS OR PINA COLADAS?

IS IT AN AFTERNOON SNACK DRINK? IS THE COMPETITION BLENDED COFFEE DRINKS?

EXERCISE 1: MARKET STRUCTURE FOR YOUR PRODUCT

1. IDENTIFY AT LEAST 2 CATEGORIES YOUR PRODUCT MIGHT FIT INTO

2. THEN, IDENTIFY 2 COMPETITORS IN EACH CATEGORY

WHAT IS THEIR PRICE?

WHERE ARE THEY SOLD? OR HOW DO THEY REACH THEIR CLIENTS?

WHAT DOES THEIR PACKAGING/WEBSITE/LOGO LOOK LIKE?

HOW DO THEY MARKET THEIR PRODUCTS? IE, SAMPLING, PROMOTIONS, SOCIAL MEDIA, ETC?

3. WHAT ARE THE TACTICS THAT SEEM MOST EFFECTIVE IN THE CATEGORY(S)?

EXERCISE 2: POINT OF DIFFERENCE TAKING ALL THAT INFORMATION YOU HAVE ABOUT YOUR COMPETITORS, NOW TELL ME - WHAT IS YOUR POINT OF DIFFERENCE? WHAT IS THE VALUE THAT YOU ARE BRINGING TO THE MARKET?

ARE YOU CHEAPER? ARE YOU HEALTHIER? ARE YOUR FLAVORS MORE UNUSUAL OR ORIGINAL? ARE YOUR INGREDIENTS FRESHER? MORE LOCAL? IS YOUR METHOD OF PRODUCTION MORE INTERESTING OR UNSUSUAL?

IS YOUR METHOD OF PRODUCTION MORE ETHICAL THAN OTHER PRODUCTS IN YOUR CATEGORY?

WHAT IS THE BENEFIT OF CHOSING YOUR PRODUCT OVER THE OTHERS???

TREND ANALYSIS BEING AWARE OF TRENDS IN YOUR CATEGORY AND AMONG YOUR TARGET

MARKET IS IMPORTANT!

YOU CAN CAPITALIZE ON THESE TRENDS AND LEVERAGE AND SHAPE YOUR BRAND

SOME EXAMPLES OF CURRENT TRENDS IN PACKAGED FOOD IN NYC:

ORGANIC “MADE IN NYC”

LOCAL GLUTEN-FREE

ETHICALLY SOURCED/MADE STREET FOOD

PRODUCER STORIES FOOD TRUCKS/CARTS

VEGAN

EXERCISE 2: TRENDS IN YOUR CATEGORIES

WHAT ARE SOME OF THE KEY TRENDS IN YOUR PRODUCT CATEGORIES? NAME AT LEAST THREE TRENDS THAT AFFECT YOUR PRODUCT

CUSTOMER TOUCHPOINTS “TOUCHPOINTS” ARE THE VARIOUS WAYS THAT YOUR CUSTOMERS INTERACT WITH AND LEARN

ABOUT YOUR PRODUCT

THE MOST OF OBVIOUS OF THESE IS THROUGH YOUR PACKAGING/LABELING – THIS IS YOUR CHANCE TO COMMUNICATE A LOT!

BUT THERE MAY BE OTHER WAYS YOUR BRAND INTERACTS WITH YOUR TARGET MARKET

- IF YOU SELL AT A MARKET, YOUR CUSTOMERS LEARN ABOUT YOUR BRAND THROUGH YOU OR YOUR EMPLOYEES

- IF YOU PITCH TO CLIENTS, THOSE MEETINGS REPRESENT ANOTHER TOUCHPOINT; SO IS YOUR FOLLOW UP AFTER AN EVENT

- IF YOU DEMO/SAMPLE YOUR PRODUCT IN STORES, THESE INTERACTIONS ARE ANOTHER TOUCHPOINT

VISUAL IDENTITY: PACKAGING, LABELING, LOGOS, ETC.

YOUR LOGO AND VISUAL BRANDING MATERIALS LIKE YOUR PACKAGING AND

YOUR WEBSITE ARE YOUR CHANCE TO COMMUNICATE YOUR BRAND TO POTENTIAL CONSUMERS!

BUT REMEMBER, CONSUMERS ARE FACED WITH MANY OPTIONS WHEN THEY ARE AT THE

GROCERY STORE, WHEN AT MARKETS, AND WHEN CHOOSING CATERING OPTIONS, SO HOW CAN YOU MAXIMIZE WHAT YOU COMMUNICATE?

EXERCISE 3: LIST 5 KEY ELEMENTS OF YOUR BRAND, 2 TRENDS AFFECTING YOUR PRODUCT CATEGORIES, AND RESTATE YOUR POINT OF DIFFERENCE

EXERCISE CONTINUED HOW CAN YOU CONVEY THOSE THINGS VISUALLY?

COLOR? SHAPE OF YOUR PACKAGING?

SYMBOLS? LAYOUT OF YOUR MENU?

WHAT CLAIMS DO YOU NEED TO INCLUDE IN YOUR LABELING/MATERIALS?

DO YOU NEED TO EDUCATE YOUR CONSUMER ABOUT YOUR PRODUCT?

IF SO, HOW CAN YOU CONVEY YOUR UNFAMILIAR PRODUCT FEATURES THROUGH YOUR PACKAGING? ARE THERE SYMBOLS, COMPARISONS, ETC YOU CAN USE TO HELP YOUR CUSTOMER UNDERSTAND QUICKLY?

THE END!