University of Kentucky College of Agriculture

Unit: PRIMER

Marketing
The M in PRIMER is for Marketing. This component is likely the key to success or failure of any new enterprise. 

The kind of questions to ask:   (click here to view questions)
     
  • Am I willing to spend as much effort in marketing
    as in production?Yes No Maybe
  •  
  • Is “selling” a new product to a customer
    something I’m comfortable with?Yes No Maybe
  •  
  • Is having people “drop in” at the farm something
    I can tolerate?Yes No Maybe
  •  
  • Are there several promising customers that
    could be pursued? Yes No Maybe
  •  
  • Will I have to do the majority of the marketing? Yes No Maybe
  •  
  • Will it require a lot of effort to prepare the
    product for market? Yes No Maybe

 

Marketing Strategies

Many farm products have typically been sold as commodities rather than marketed with a view toward developing greater value delivery and profit opportunities. A commodity marketing strategy may be difficult to sustain for certain alternative enterprises, especially those that may involve specialized market channels. Many alternative enterprises have limited sales potential, emphasizing small, niche markets that may be quickly oversupplied if too many producers enter the market. These are called "thin markets" and thin markets are susceptible to wide price swings with over and underproduction. Often the most successful niche marketers are those who zealously develop and guard their market outlets. Skill in marketing will often be the most important success factor in the sustainability of a new enterprise.