UBC Undergraduate Research

Marketing Plan Report Wong, Hazel; McLean, Josh; Lam, Lyndan; Shan, Meiyu; Chen, Mona

Abstract

The purpose of this report is to identify and outline how to implement specific marketing strategies that will help UBC Farm increase sales revenue for all the vendors at its Saturday farmers’ market. This will serve to attract and retain vendors who are looking to generate a profit. In return, by expanding the number of vendors at the market, UBC Farm can diversify its product offerings for its loyal and growing customer base. Thus, this report will address the following: identify and target the relevant customer segments; increase customer foot traffic to UBC Farm; and increase customer awareness about UBC Farm as a distinct brand. The research also covers four aspects: usage and attitudes of consumers towards farmers’ markets; communication channels used by consumers to gather information about their food and community; decision making tree of a Farmers’ Market Attendee versus a Grocery Shopper; as well as UBC Farm’s current positioning in consumers’ minds. Based on the current findings, UBC Farm Saturday Market stands out amongst its competitors due to being located on a working farm. This contributing factor instills a sense of trust in its consumers because they know that the produce come straight from the farm. Leveraging on the global trend in becoming more health-­conscious and sustainable, UBC Farm has the right brand image that encompasses such values as well as being local, organic, and sustainable. After analyzing results from the survey and secondary research, the three recommended target segments for UBC Farm are the Loyal Customers, Occasional Customers, and Farmers’ Market Consumers. “Loyal Customers” were defined as attendees who visited the Saturday Market 5 or more times a year. “Occasional Customers” include attendees who visited the Saturday Market 1 – 4 times a year. On the other hand, “Farmers’ Market Consumers” are people who shop at farmers’ markets, but they have never attended the Saturday Market and have never heard of UBC Farm. Tailored specifically to these segments, there are three SMART Objectives to target each segment as well as one SMART Objective that focuses on vendor attraction and retention. The first objective is to have an average of 11 or more vendors, each from different product categories, at UBC Farm Saturday Market for the 2017 season. Next, the second objective is to increase the loyal customer base by 10% in FY 2017 vs. prior year based on conversion of occasional customers. The third objective is to increase the average spend per visit of current customers at the UBC Farm Saturday Market by 5% in the FY 2017 vs prior year. The final objective is to drive attendance of 20 new customers on average per Saturday – targeting the “Farmers’ Market Consumers” specifically. The last three objectives will be measured by an annual customer survey conducted at the end of the farmers’ market season. The strategies and tactics, along with the budget and timeline, are detailed in this report to ensure that UBC Farm will achieve its goal. Disclaimer: “UBC SEEDS provides students with the opportunity to share the findings of their studies, as well as their opinions, conclusions and recommendations with the UBC community. The reader should bear in mind that this is a student project/report and is not an official document of UBC. Furthermore readers should bear in mind that these reports may not reflect the current status of activities at UBC. We urge you to contact the research persons mentioned in a report or the SEEDS Coordinator about the current status of the subject matter of a project/report.”

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