How do I build my food business?
During the build stage, your business will be establishing, testing and improving systems and processes to deliver the product or service that your customer is wanting. Your business will benefit from utilizing a build-measure-learn loop, which is a repeated process of turning ideas into products, measuring the processes, reactions, responses and behaviors of customers, and learning whether to proceed or to innovate, improve or pivot operations or the business idea.
Market Development
As you build your food business, you will need to identify new markets for your product and develop strategies to expand into these markets.
Periodically check to ensure your marketing objectives continue to align with your business goals and be prepared to adapt to changing market demands. Evaluate the distribution channels you are using to get your product to your customers. When developing promotional strategies, include an assessment of your target customer and their expectations, which may change often.
Marketing Strategies
As you build your business, you will need to be strategic to remain competitive. Periodically check to ensure your business goals continue to align with your marketing strategy. Read reports and trade publications as part of your ongoing market research so that you're prepared to make informed decisions based on current and future trends.
Consider if there are food certifications that would help you gain a strategic advantage and increase business opportunities.
- Writing a marketing plan for your food product
- Create an effective sell sheet for retailers
- Is Certification Important for all Businesses
- FCC Food and Beverage Marketing and Sales resources
- Bioscape - Manitoba Bioscience companies
- Bioscience Association Manitoba industry Survey
- Cannabis edibles, topicals and extracts
- Government of Canada research and business intelligence
- Manitoba Protein Advantage
- Food and Value Added Agriculture Statistics
Distribution Channels
As you build your business, continue evaluating your options to determine which distributor is the best fit for your needs. As your sales volumes and responsibilities grow, you may want to move from direct selling to using a wholesaler, for example.
Promotional Strategies
As you build your business, you will need to continually identify new potential customers, create brand awareness, increase the use of your products and retain loyal customers.
Today's consumers want to know where their food comes from and how it's made. Transparency, sustainability, health and wellness are key drivers of food trends. Tell the story of your food product to build an emotional relationship with existing and potential customers.
Use digital marketing tools to raise brand awareness, create connections, generate product trials and engage more customers.
