Welcome to the last part of this chain of article. ( Click to read Part 2 ) One of my coaches in business once told me that in the world ...
Welcome to the last part of this chain of article. (Click to read Part 2) One of my coaches in business once told me that in the world of business vis-Ã -vis price negotiation; it is unacceptable to say somebody has cheated you. Nobody cheats another; the person who has an upper hand has only taken advantage of the others’ ignorance. Suffice to say; if you must win in the game of developing a potent marketing strategy, you must do your homework very well. Simply to say: marketing and market place are warfare where money exchanges hands and everyone is in there to maximize profit.
PRICE INTELLIGENCE  |
| Retailer by road side |
The average price of veggies is constantly changing throughout the year. What often determines the price is the force of demand and supply. When selling directly to consumers, the price received depends mainly on the produce prices in local supermarkets and the willingness of the consumers to pay premium for higher quality or fresh produce. On the other hand, when selling to at general markets to dealers, the price received depends on the price the broker or dealers received. This price is often determined by national supply and demand forces.
It is easier to fix price with supermarkets or when dealing directly with consumers, however dealing with open markets may be more demanding. Before you take your produce to the market, conduct price intelligence. This is done by putting a call through to other dealers in other or the same markets pretending to have a produce for sales. You could also send someone to help confirm the present price at the market where you intend taking your produce. The person often pretends as another grower and or consumer with the intention of eavesdropping in dealers’ conversions with other growers.
You may also relate with network of retailers who often patronize the general markets. You can always get from them the selling price per quantity of produce daily in the wholesale market. The selling price is not the price a dealer would buy from you but a buying price which is not usually far from selling price.
You may also read on Importance of value addition to your veggies
UNDERSTAND AND USE HUMAN PSYCHOLOGY: PSYCHOLOGY OF FIRST IMPRESSION
 |
| Wholesale Market , Benjamin Ibadan |
Human being naturally has weakness of being control by the first impression they receive. This also plays out at the market.
Market appeal can play out at every level of the value chain; farm gate, wholesales market and retail level. Local market retailers are aware of this principle therefore often make use of it a lot in the battle of price psychology. While displaying their fresh produce, they put the very best among grade A on the very top to appeal to and attract passer-by customers. Once the customers fall for this bait, it is often very difficult to leave the spot except for the very determined. Even if the customers do not really want to buy that product at that time, the person often found themselves buying.
Growers who sell directly to consumers need to consider how to provide a dependable supply of uniform quality products, convenient location, attractive displays and packaging and effective advertising, pricing and selling strategies.
You may also read on Furrow flooding irrigation technique
Even when dealing with general markets, if a reputation for producing and delivering top quality produce is developed over time, dealers may be willing to pay premium. Large growers and small growers who pool produce may be able to develop a brand name or a local identity for their products that may improve demand for product and prices received. In order word, choose your varieties wisely but in accordance to market sentiment.
Lastly, Employ 3 ingredients of market appeal to take advantage of inherent human weakness when presenting your packaged produce.
In conclusion, remember the learning curve; it does take time to perfect your knowledge of this which is the reason why you must always start your farming business at reasonable scale and scale up as you build on your experiences.
So long! We have come to the end of this chain of articles and I trust you have a value for your time reading. You can reach out to me for further clarification, comment and question. Cheers!
Subscribe to our newsletter and like us on FB and do follow us on IG.
COMMENTS