Market Development

As you grow your food business, you will need to continuously analyze market trends and capitalize on opportunities for innovation. These opportunities can include diversifying your product lines or marketing your products in new distribution channels in local, domestic and international markets.

Keep in mind that in the current age of responsible consumerism, today's consumers prioritize supply chain transparency, sustainability and health and wellness. There is an increased demand for local foods, with an emphasis on protein-based foods.

 

1

Market Research

2

Marketing Strategies

3

Trade

 

Market Research

As you grow your business, continue conducting market research to make better business decisions and maintain your competitive edge.

Statistical information on sales and market trends can be found on the Manitoba Agriculture Food and Value Added Agriculture Statistics page.

Marketing Strategies

Create a comprehensive marketing plan that helps formalize your marketing ideas and concepts. As you grow your business, plan to review your marketing strategy regularly to ensure it still aligns with your business goals and strategy.

Today, everything is digital, so it is important to consider including a digital marketing component in your marketing strategy to capture the growing online grocery market. If done correctly, your marketing strategy will increase brand awareness and loyalty and will allow you to efficiently and effectively reach your target audience.

Trade

As you grow your business, consider expanding sales of your product into domestic and international markets. Interprovincial trading or exporting your product can boost your business's profile, provide access to new customers and revenues, and mitigate risk through market diversification. To determine your level of interprovincial trade or export readiness, read Getting Ready to Interprovinically Trade Your Food Product or Getting Ready to Export your Food Product.