Topic 4: Marketing Management for

Agribusiness

Introduction

This unit gives you an idea on how to strategically plan for your
marketing activities. An effective marketing plan helps you to promote
your business in order to meet existing market demands. However, you
need to understand first how it works and how to do it. In line with the
marketing activities, you also need to understand the marketing mix -
how each of its segments function with the other segments and how they
affect the total sales of your product or service.

Like any other line of business, an agribusiness needs also tools

that will guide and help its owners and managers in decision-making. It is
a crucial factor to consider because it will dictate the marketability of
your product or service.

Prior Learning Activation

If you are given P1,000.00 start-up capital, what kind of business

will you do with it? How will you market your product or service?? What
will be your promotional activities? In choosing such activities, what did
you consider first?

Learning Outcomes
At the end of the module, you will be able to:

1. Create a strategic market plan;

2. Understand the functions of the marketing mix; and
3. Use the marketing tools in decision-making

Presentation of Contents
Marketing strategy is a long-term, forward-looking approach and
an overall game plan of any organization or any business. Its
fundamental goal is to achieve a sustainable competitive advantage by
understanding the needs and wants of customers. It highlights the role of
marketing as a link between the organization and its customers. On the

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other hand, strategic planning involves an analysis of the company's
strategic initial situation prior to the formulation, evaluation and
selection of market-oriented competitive position that contributes to the
company's goals and marketing objectives.
Strategic planning seeks to address four deceptively simple
questions, specifically:
* Where are we now? (Situation analysis)
* What business should we be in? (Vision and mission)
* How should we get there? (Strategies, plans, goals and
objectives)
* How do we know when we got there? (Evaluation)

"Mission statement help clarify what business you are in, your goals and
your objectives," says Rhonda Abrams, author of The Successful Business
Plan: Secrets and Strategies.

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 A mission statement is a key tool that can be as important as
your business plan. It captures, in a few succinct sentences, the essence
of your business's goals and the philosophies underlying them. Equally
important, the mission statement signals what your business is all about
to your customers, employees, suppliers and the community.

Answering the following questions will help you to create a verbal

picture of your business's mission:

 Why are you in business? What do you want for yourself, your
family and your customers? Think about the spark that ignited your
decision to start a business. What will keep it burning?

 Who are your customers? What can you do for them that will enrich
their lives and contribute to their success-now and in the future?

 What image of your business do you want to convey? Customers,

suppliers, employees and the public will all have perceptions of
your company. How will you create the desired picture?

 What is the nature of your products and services? What factors

determine pricing and quality? Consider how these relate to the
reasons for your business's existence. How will all this change over
time?

 What level of service do you provide? Most companies believe they

offer "the best service available," but do your customers agree?
Don't be vague; define what makes your service so extraordinary.

 What roles do you and your employees play? Wise captains develop
a leadership style that organizes, challenges and recognizes
employees.

 What kind of relationships will you maintain with suppliers? Every

business is in partnership with its suppliers. When you succeed, so
do they.

 How do you differ from your competitors? Many entrepreneurs

forget they are pursuing the same dollars as their competitors.
What do you do better, cheaper or faster than other competitors?
How can you use competitors' weaknesses to your advantage?

 How will you use technology, capital, processes, products and

services to reach your goals? A description of your strategy will
keep your energies focused on your goals.

 What underlying philosophies or values guided your responses to

the previous questions? Some businesses choose to list these

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 separately. Writing them down clarifies the "why" behind your
mission.

Well-chosen goals and objectives point a new business in the right

direction and keep an established company on the right track. Corporate
objectives are the specific steps you and your company need to take in
order to reach each of your goals. They specify what you must do — and
when. They relate to the business as a whole. They are usually set by the
top management of the business and they provide the focus for setting
more detailed objectives for the main functional activities of the business.
They tend to focus on the desired performance and results of the
business.

It is important that corporate objectives cover a range of key areas

where the business wants to achieve results rather than focusing on a
single objective. Peter Drucker suggested that corporate objectives
should cover eight key areas:

Area Examples
Market standing Market share, customer satisfaction,
product range
Innovation New products, better processes, using
technology
Productivity Optimum use of resources, focus on core
activities
Physical & financial Factories, business locations, finance,
resources supplies
Profitability Level of profit, rates of return on
investment
Management Management structure; promotion &
development
Employees Organisational structure; employee
relations
Public responsibility Compliance with laws; social and ethical
behaviour

What is 5C Analysis?

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 5C Analysis is a technique used to conduct situation analysis.
Conducting a situation analysis is one of the important steps in
identifying the research problem. A situation analysis involves examining
the external environmental factors and internal organizational
capabilities that impact how a company operates.

5C Analysis is one of the most popular and useful frameworks in

understanding internal and external environments. It is an extension of
the 3C Analysis that originally included Company, Customers, and
Competitors. Collaborators and Climate were later added to the analysis
to make it comprehensive. This integrated analysis covers the most
important areas of marketing, and the insights generated can help
identify the key problems and challenges facing the organization.
However, it should be noted that not all five elements need to be
considered when identifying the problem in a particular area of
marketing. Depending on the area of marketing under scrutiny, some
areas need to be given more importance than others.

 Company—The company analysis studies an organization’s vision,

strategies, capabilities, product line, technology, culture, and
objectives. It is useful in understanding the existing and potential
problems with the company’s business.

 Customers—Understanding customers is a key part of situation

analysis. It involves knowing the target audience, their behavior,
market size, market growth, buying patterns, average purchase
size, frequency of purchase, and preferred retail channels.

 Competitors—Competitor analysis is critical in understanding the

external environment in which the firm operates. This analysis
involves knowing the competitors’ strengths, weaknesses,
positioning, market share, and upcoming initiatives.

 Collaborators—Collaborators are the external stakeholders who

team up with the organization in a mutually beneficial partnership.
Agencies, suppliers, distributors, and business partners are typical
collaborators. It is important to understand their capabilities,
performances, and issues to better identify business problems.

 Climate—Climate analysis is the evaluation of the macro-

environmental factors affecting the business. PESTEL analysis can
be used to analyze climate—political, economic, social/cultural,
technological, environmental, and legal scenarios are included in
PESTEL.

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What is SWOT Analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and

Threats, and so a SWOT Analysis is a technique for assessing these four
aspects of your business. You can use SWOT Analysis to make the most of
what you've got, to your organization's best advantage. And you can
reduce the chances of failure, by understanding what you're lacking, and
eliminating hazards that would otherwise catch you unaware.

Strengths are internal, positive attributes of your company. These

are things that are within your control. This is where your business does
particularly well, or in a way that distinguishes you from your
competitors. Think about the advantages your business has over other
business Your strengths are an integral part of your organization, so
think about what makes it "tick."

 What do you do better than anyone else?

 What competitive advantages do you have over your competitors?
 What values drive your business?
 What unique or lowest-cost resources can you draw upon that
others can't?

Weaknesses are negative factors that detract from your strengths.

These are things that you might need to improve on to be competitive.

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Think about what you could improve, and the sorts of practices you
should avoid. Once again, imagine (or find out) how other people in your
market see you.

 Do they notice weaknesses that you tend to be blind to?

 How and why your competitors are doing better than you?
 What are you lacking?
 Are there gaps on your team?
 Is your location ideal for your success?

Opportunities are external factors in your business environment

that are likely to contribute to your success. These are openings or
chances for something positive to happen. They usually arise from
situations outside your business, and require an eye to what might
happen in the future. They might arise as developments in the market
you serve, or in the technology you use. Being able to spot and exploit
opportunities can make a huge difference to your business’ ability to
compete and take the lead in your market.

 Is your market growing and are there trends that will encourage
people to buy more of what you are selling?
 Are there upcoming events that your company may be able to take
advantage of to grow the business?
 Are there upcoming changes to regulations that might impact your
company positively?
 If your business is up and running, do customers think highly of
you?

Threats are external factors that you have no control over. It

includes anything that can negatively affect your business from the
outside, such as supply chain problems, shifts in market requirements, or
a shortage of recruits. Think about the obstacles you face in getting your
product to market and selling. You may notice that quality standards or
specifications for your products are changing, and that you'll need to
change those products if you're to stay in the lead. Evolving technology is
an ever-present threat, as well as an opportunity.

 Do you have potential competitors who may enter your market?

 Will suppliers always be able to supply the raw materials you need
at the prices you need?
 Could future developments in technology change how you do
business?
 Is consumer behavior changing in a way that could negatively
impact your business?
 Are there market trends that could become a threat?

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  What are your competitors doing? (But remember that what they're
doing might not be the right thing for you to do, and avoid copying
them without knowing how it will improve your position.)
 Is your organization exposed to external challenges?
 Do you have bad debt or cash-flow problems, for example, that
could make you vulnerable to even small changes in your market?

What is PESTEL Analysis?

A PESTEL analysis or PESTLE analysis (formerly known as PEST

analysis) is a framework or tool used to analyse and monitor the macro-
environmental factors that may have a profound impact on an
organisation’s performance. This tool is especially useful when starting a
new business or entering a foreign market. It is often used in
collaboration with other analytical business tools such as the SWOT
analysis and Porter’s Five Forces to give a clear understanding of a
situation and related internal and external factors.

PESTEL is an acronym that stand for Political, Economic, Social,

Technological, Environmental and Legal factors. However,
throughout the years people have expanded the framework with factors

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such as Demographics, Intercultural, Ethical and Ecological resulting in
variants such as STEEPLED, DESTEP and SLEPIT.

In this module, we will stick simply to PESTEL since it encompasses

the most relevant factors in general business. Each factor will be
elaborated on below:

Political Factors: These factors are all about how and to what degree a
government intervenes in the economy or a certain industry. Basically all
the influences that a government has on your business could be classified
here. This can include government policy, political stability or instability,
corruption, foreign trade policy, tax policy, labour law, environmental
law and trade restrictions. Furthermore, the government may have a
profound impact on a nation’s education system, infrastructure and
health regulations. These are all factors that need to be taken into
account when assessing the attractiveness of a potential market.

Economic Factors: These are determinants of a certain economy’s

performance. Factors include economic growth, exchange rates, inflation
rates, interest rates, disposable income of consumers and unemployment
rates. These factors may have a direct or indirect long term impact on a
company, since it affects the purchasing power of consumers and could
possibly change demand/supply models in the economy. Consequently it
also affects the way companies price their products and services.

Social Factors: This dimension of the general environment represents

the demographic characteristics, norms, customs and values of the
population within which the organization operates. This includes
population trends such as the population growth rate, age distribution,
income distribution, career attitudes, safety emphasis, health
consciousness, lifestyle attitudes and cultural barriers. These factors are
especially important for marketers when targeting certain customers. In
addition, it also says something about the local workforce and its
willingness to work under certain conditions.

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Technological Factors: These factors pertain to innovations in
technology that may affect the operations of the industry and the market
favourably or unfavourably. This refers to technology incentives, the level
of innovation, automation, research and development (R&D) activity,
technological change and the amount of technological awareness that a
market possesses. These factors may influence decisions to enter or not
enter certain industries, to launch or not launch certain products or to
outsource production activities abroad. By knowing what is going on
technology-wise, you may be able to prevent your company from
spending a lot of money on developing a technology that would become
obsolete very soon due to disruptive technological changes elsewhere.

Environmental Factors: These have come to the forefront only

relatively recently. They have become important due to the increasing
scarcity of raw materials, pollution targets and carbon footprint targets
set by governments. These factors include ecological and environmental
aspects such as weather, climate, environmental offsets and climate
change which may especially affect industries such as tourism, farming,
agriculture and insurance. Furthermore, growing awareness of the
potential impacts of climate change is affecting how companies operate
and the products they offer. This has led to many companies getting more
and more involved in practices such as corporate social responsibility
(CSR) and sustainability.

Legal Factors: Although these factors may have some overlap with the
political factors, they include more specific laws such as discrimination
laws, antitrust laws, employment laws, consumer protection laws,
copyright and patent laws, and health and safety laws. It is clear that
companies need to know what is and what is not legal in order to trade
successfully and ethically. If an organisation trades globally this becomes
especially tricky since each country has its own set of rules and
regulations. In addition, you want to be aware of any potential changes in
legislation and the impact it may have on your business in the future.
Recommended is to have a legal advisor or attorney to help you with
these kind of things.

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What Is a Target Audience in Marketing?

A target audience consists of the people most likely to be

interested in your service or product. They fit a specific demographic or
exhibit a set of behaviors that make them a perfect fit for your offerings.

The key factors to consider in target audience analysis are:

Age Socioeconomic status

Gender Lifestyle
Location Interests and activities
Language Stage of life
Career Motivation and
priorities

Target Audience Analysis: Why it Matters

You change your tone when you’re talking to a kindergarten pupil

versus talking to a college student. So it makes sense that you’d
change the copy you’d write to sell a product depending on the audience.

Business is all about connecting people to your company. You don’t

want to shout into the void telling people to buy your product, and
customers don’t want to search the void for the products they need.

If you want your business to succeed, it’s crucial to understand who

your target customers are to get your product in the right hands. Your
target audience will influence:

What platform you use Price point

Where you market Design of your branding and
How you market product
Product updates Tone and language
Partnerships

How to Identify Your Target Audience?

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 Analyzing Your Products:
A nalyze In vestig What problem does your product
your ate you r or service solve? Who can your
product benefit? The answer can
p rod u ct au d ien c give you a clear insight into your
s e audience. And if you don’t know
En g ag e who your customer is, it might
Th in k
your be time to clarify your offerings.
ou tsid e
au d ien c
th e b ox Investigating Your Audience:
e Who are your customers, and
C heck D o som e where do you get the most
ou t you r social engagement? Are there
com p etiU se m ed ia similarities between those
customers? Get curious about
torsan alytic
listen in g the people buying your products.
s They’re already in your ideal
market, and you can use their
softw ar demographic information to find
e an d more people like them to
in tern et become new customers.
tools Engaging With Your
Thinking Outside The Box: BrainstormAudience:different audiences for your
Ask them questions
products. Your target audience doesn’torhave to be them.
monitor your primary
Consider
audience. Your ideal market can shift with aasking
new advertising campaign
customers to fill out or a
promotional discount. survey. Surveys are a great way
to do potential market research.
Checking Out Your Competitors: See You who can
your glean
competitors target
the information
with their campaigns. If you find any inconsistencies, ask yourself if you
you need from your customers
want to make any changes to your strategies quicklyorand
seeeasily.
what’s working
Make sure to
better for your company. sweeten the deal by linking the
survey with a giveaway or
discount. 12
Social Media Listening: Consumers are having public conversations on
social media all day long. Social media listening entails paying attention
to what customers are saying about your brand by monitoring social
media channels (yours and others) and analyzing the data you get.
Hearing feedback about your brand is supremely beneficial. It will help
you understand if your outreach is getting to the right people or you need
to rethink your target customers.

Analytics and Other Tools: Most major platforms give you helpful
tools, and many let you analyze your web traffic. These are just a few that
can come in handy: Facebook Audience Insights,
Google Trends, Twitter Analytics, Claritas, and Keyhole.

Goal-setting: Marketing

Marketing is all about goals. Without

them,
you have no way of knowing whether
or not
your work is worthwhile. Think of it
like planning a trip. In order to know
when you’ve arrived, you need to
select a destination first. Otherwise,
you would be traveling aimlessly.

SMART marketing goals is a framework

for successful goal setting. It stands for
Specific, Measurable, Attainable, Realistic,
Timely.

Specific: State exactly what you want to

accomplish (5W’s); Define the goal with as
much as possible no unclear language;

Measurable: Provide a way to evaluation;

Use metrics or data targets.

Attainable: Must be within your scope and

ability; Possible to accomplish.

Relevant: Improves the business; How is it

aligned with the business objectives?

Time-based: State when it is done; Be

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specific on date to accomplish.
Developing budget:

A marketing budget documents how

much your business plans to spend
on marketing over a specific period,
like a year, quarter, or month.

When budgeting for marketing,

consider all costs associated with
marketing your business, such as
paid ads, hiring costs, marketing tools,
website maintenance expenses, and more.

Why do I need a marketing budget for my business?

1. It helps you stay on track financially. When you create a marketing

budget, you’ll be able to keep track of how much you spend on each
strategy, if you’re overspending, and if you can spend more. If you skip
creating a marketing budget, you’ll likely find yourself overspending,
which can cause your business to fail.

2. It helps you allocate funds into the right places. When you know
how much you can spend, you know how much you can put into each
marketing strategy of interest. It allows you to determine which
strategies work with your budget or if a digital marketing company’s
packages fit within your budget.

3. It helps you set benchmarks and goals. Based on your budget, you
can set realistic expectations for various marketing channels and
better understand the revenue you need to earn to make your
marketing efforts worthwhile.

4. It helps you plan long-term. This long-term perspective prevents

you from having to fight for additional marketing spend throughout the
year and stop campaigns due to funding changes. While you want to
build some flexibility into your budget, a long-term funding plan
enables you to create a more consistent and effective marketing
strategy.

5. It’s an investment in your business’s growth. It’s important to

note that marketing isn’t a cost — it’s an investment. Marketing is an
investment in your business’s growth and development. By learning how
to make a marketing budget, you’ll help your business get the most out of
your investment.

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The Marketing Mix: 4Ps – 7Ps

The marketing mix refers to the set of actions, or tactics, that a

company uses to promote its brand or product in the market.

The 4Ps were designed at a time where businesses were more

likely to sell products, rather than services and the role of customer
service in helping brand development wasn't so well known.

Over time, Booms and Pitner added three extended ‘service mix
P’s': Participants, Physical evidence and Processes, and later Participants
was renamed People. Today, it's recommended that the full 7Ps of the
marketing mix are considered when reviewing competitive strategies.

#1 Marketing Mix – Product

A product is an item that is built or produced to

satisfy the needs of a certain group of people.
It can be intangible or tangible as it can be in
the form of services or goods.

It is important for marketers to reinvent their

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products to stimulate more demand once it
reaches the sales decline phase.

In developing the right product, you have to answer the following

questions:

What does the client want from the service or product? How will the
customer use it?
Are there any necessary features that you missed out? Where
will the client use it?
Are you creating features that are not needed by the client? What’s
the name of the product?
What are the sizes or colors available? Does it have a
catchy name?
What features must the product have to meet the client’s What does the
product look like?
needs?
How is the product different from the products of your competitors?
#2 Marketing Mix – Price

The price of the product is basically

the amount that a customer pays for
to enjoy it.

It is a very important component of a

marketing plan as it determines your
firm’s profit and survival.

Adjusting the price of the product has

a big impact on the entire marketing
strategy as well as greatly affecting
the sales and demand of the product.

Pricing always help shape the

perception of your product in
consumers eyes.

This is inherently a touchy area though. If a company is new to the

market and has not made a name for themselves yet, it is unlikely that
your target market will be willing to pay a high price. Although they may
be willing in the future to hand over large sums of money, it is inevitably
harder to get them to do so during the birth of a business.

Here are some of the important questions that you should ask yourself
when you are setting the product price:

How much did it cost you to produce the product?

What is the customers’ perceived product value?

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Do you think that the slight price decrease could significantly increase
your market share?
Can the current price of the product keep up with the price of the
product’s competitors?

#3 Marketing Mix – Place

Placement or distribution is a very important part

of the product mix definition. You have to position
and distribute the product in a place that is
accessible to potential buyers.

Here are some of the questions that you should

answer in developing your distribution strategy:

Where do your clients look for your service or product?

What kind of stores do potential clients go to? Do they shop in a mall, in a
regular brick and mortar store, in the supermarket, or online?
How do you access the different distribution channels?
How is your distribution strategy different from your competitors?
Do you need a strong sales force?
Do you need to attend trade fairs?
Do you need to sell in an online store?

#4 Marketing Mix – Promotion

Promotion is a very important component of

marketing as it can boost brand recognition
and sales. Promotion is comprised of
various elements like:
Sales Organization
Public Relations
Advertising
Sales Promotion

Advertising typically covers communication

methods that are paid for like television
advertisements, radio commercials, print media,
and internet advertisements.

In contemporary times, there seems to be a shift in focus

offline to the online world.

In creating an effective product promotion strategy, you need to answer

the following questions:

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How can you send marketing messages to your potential buyers?
When is the best time to promote your product?
Will you reach your potential audience and buyers through television
ads?
Is it best to use the social media in promoting the product?
What is the promotion strategy of your competitors?

#5 Marketing Mix – People

People are the building blocks of the marketing

strategy.

Without people, all these other Ps will not

complete a successful marketing formula.

This aspect refers to those who are employed

by the company to: design, develop, and
manufacture the products; do market research
to establish demand and determine customer
needs; manage the supply chain to ensure timely
delivery; provide support services; and serve as touch points for
customer interaction among others.

Employing and retaining the right people is imperative in both the long
and short term success of your business.

Valuable are the following questions:

Who should we hire?

What should be our people’s qualifications?
How should our people act?

#6 Marketing Mix – Process

Process describes a series of

actions that are taken in
delivering the product or
service to the customer.

It refers to the flow of activities

or mechanism that take place
when there is in an interaction

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 between the customers and the
businesses.

Examining the process means

assessing aspects such as the
sales funnel, your payment
systems, distribution
procedures and managing
customer relationships.

But it’s not enough to just do the processes. Each step that you
take and the methods that you choose to use for these processes must be
done in a way that minimises the costs on your part, whilst also
maximising benefits and value for your customer.

Assessing, adjusting and optimising different parts of your process

will help to streamline your business efforts whilst also ensuring that
your methods are up-to-date and in line with current trends.

Important questions to ask are:

How can we ensure consistency?

How should we deliver our product?
How should we produce?
What shall we use?

#7 Marketing Mix – Physical Evidence

The physical evidence element of the marketing

mix refers to the physical environment experienced
by the customer. It is the material part of a service.

It provides tangible cues of the quality of experience

that a company is offering. It can be particularly useful
when a customer has not bought from the organisation
before and needs some reassurance, or is expected to
pay for a service before it is delivered.

It includes but not limited to physical environment, ambience,

spatial layout, packaging and corporate branding (signs, symbols,
artefacts)

Here are some of the important questions that you should ask when you
want to know about the effect of physical evidence:

What should the environment be? What do costumers want?

Shall a traditional or modern design be adopted?
How do we intangibly communicate value?

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Putting things into action: The Implementation and Monitoring of
the Market Plan

Marketing implementation is the process of turning your

marketing strategy into real-life actions: tasks and projects, people
responsible for them, and deadlines. In other words, it’s about bringing
your marketing plan to life. Instead of living on paper, it starts living on a
day-to-day calendar because it’s translated into action.

How to Implement Your Marketing Plan?

1. Set the right expectations.

It’s important to remember that marketing is not a quick fix. If you

want your marketing efforts to be successful, it’s important to remember
that this is a marathon, not a sprint. Marketing takes some time and effort
to build the right foundation for your efforts. Once you do, you’ll start to see
the momentum you’re looking for in your business. Because marketing
success takes time, it’s important to make sure your company leadership
and team understands that. Setting those expectations up front will help
everyone understand.

2. Build the team and secure resources.

Who will be on your marketing implementation team? It’s important

to think through who you will need to help with this effort. Sometimes, that
will include employees at your company, other times, that means bringing
in an outsourced marketing partner or a number of vendors to help you.

Either way, make sure you know who needs to be on your team to
implement the effort. Also, look at what other resources you need. Are
there tools, materials or education that you need to get started? If so, make
sure you get those resources in place too.

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3. Communicate the plan.

Once you have built your marketing team, be sure to communicate

the marketing strategy to this group and help them understand the goals.
Make sure each member of your marketing team understands the role they
plan in the implementation effort and how they will contribute to your
success.

4. Build out timeline and tasks.

If your marketing strategy didn’t include a detailed project timeline,

now is the time to build one. It makes sense to take each project and break
it up into smaller tasks and deadlines to make the effort manageable for
your team.

5. Set up a dashboard for tracking success.

You can’t manage what you don’t measure. That’s why it’s important
to set up the proper tracking tools to measure your efforts. Your
measurement dashboard should be a template that you can easily update
with key metrics throughout your campaigns.

6. Monitor and check-in regularly.

Once you’ve built that measurement dashboard, it should be easy for

you to plug in the necessary information along the way. Doing this will help
you easily gauge the temperature of your marketing efforts. At the very
least, you should do a monthly check-in of your results so you can see what
is working and what isn’t. For larger efforts, it makes sense to do this on a
weekly basis.

As part of your regular monitoring effort, you should also meet with
your team regularly to go over the progress. This helps everyone
understand how things are going and what needs to be done to reach your
goals.

7. Be willing to adapt.

One of the biggest reasons for regular measurement and monitoring

is so you can easily see what’s working with your marketing and what’s not.
When a particular marketing effort isn’t producing the desired results, look
for ways to improve on the tactic before throwing it out the window.
Sometimes, small tweaks can make a big difference.

8. Communicate results and celebrate success!

Letting your team know that your marketing efforts are working can
create a huge boost for morale and help stimulate massive momentum for
your company. It’s also a great idea to reward your team when you hit

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certain benchmarks and goals. And, even if things don’t work, be sure to
share that information too. It will give your team the opportunity to share
feedback and generate new ideas.

Feedback/Assessment

Propose a business and create a Market Plan out of it using the template
attached to the last page of this module.

Reflection

After finishing this module, have you appreciated agribusiness

more? Why?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
____________________________

How will the knowledge you acquired in this unit help you in your
future career or profession?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

References

[Link]
chapter/reading-elements-of-the-marketing-plan/

[Link]

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 [Link]
marketing-plan/

[Link]
%20is%20a%20technique,impact%20how%20a%20company
%20operates.

[Link]

[Link]
it-right-with-examples/

[Link]
[Link]#:~:text=PEST%20analysis%20stands%20for
%20political,the%20effects%20of%20macro%20events.

[Link]
analysis/

23