for Lancefield and
District Farmers’ Market
External Management Consultants:
Jacqueline Doyle, Gavin Katz, Wilson Luong,
and Rebecca Roche
1. Executive Summary
Whilst Lancefield & District Farmer’s Market (LFM) has been growing in popularity and success throughout the nine years that it has been operating we are aiming to introduce new customers by targeting families with young children. Currently, they represent approximately 20% of total market attendees, our strategy will increase these numbers to 30% of total market attendees by June 2013. Strategy to achieve this is implementing the Stephanie Alexander Kitchen Garden Program in local primary schools. This would be part of an effort to instill children with a passion for fresh, high-quality and ethically produced produce. Through this program, parents would also become involved in the production of fresh produce, and so would foster an increased level of interest in fresh produce. The implementation of the Stephanie Alexander Kitchen Garden Program can cost up to $66,000, however funding and grants are available. LFM would also become involved in fundraising through monthly raffles during market times.
A major measure of the success is the number of stallholders attending the LFM market. In the past this has been an average of 40 stalls with a maximum of 58, April 2012. To raise this number to approx. 65 per month on average by June 2013, we will employ discount subscription packages for either six or 12 months. This would increase profits from $1,011.17 per month to $1,690.00 per month on average. There is also an opportunity for a new volunteer role, specifically to liaise with clients to increase levels of communication between the LFM, clients, and other stallholders. The average customer spend is currently $70. Our objective is to raise this figure to $90 by June 2013. Due to this measure, the LFM will become more attractive to stallholders. A larger variety of stallholders is required for this to be successful, which is to be assured by the volunteer liaison whilst booking stalls, through the use of a highly descriptive client database.
As the market grows a larger volunteer base needs to be built, which is why we suggest recruiting a volunteer liaison. To maintaining and increasing volunteer numbers the team must be continually recognised and rewarded for their the hard work and dedication. It would be recommended that the LFM offer bi-early dinner for volunteers and their families, at a local restaurant, and costing around $500 per year.
LFM will celebrate its 10-year anniversary in March 2013, and an important objective for this occasion is to achieve the maximum capacity of 70 stallholders. Advertising would be conducted through the Macedon Ranges Leader (1/2 page advertisement costing $1,600) and the Lancefield Mercury (1/2 page advertisement 3 times, costing $240 at $80 per month) newspapers. Advertising leads to an increase in awareness for potential and actual customers of the LFM. This would be followed up with posters and fliers, posted in mailboxes, cafés, newsagencies etc. in and around the Lancefield area.
Under these new strategies, forecasted profits would total to $5,421 as of June 2013. Income is increased from $10,709 as of June 2011 to $21,480 as of June 2013. Table of Contents|
| Title Page| Page 1| 4. | SWOT| Page 27|
1.| Executive Summary | Page 2| 5. | Marketing Objectives| Page 28| | Table of Content| Page 4| 5.1| Targeting Statement| Page 29| 2.| Mission and Values Statement| Page 5| 5.2| Positioning Statement| Page 31| 2.1| Business Scope| Page 5| 6.| Marketing Strategies| Page 32| 2.2| Definition| Page 5| 7. | Action Plan/ Tactics | Page 32| 2.3| Direction| Page 6| 8. | Budget| Page 40|
3.| Situation Analysis| Page 7| 9. | Monitoring and Control| Page 43| 3.1| External Analysis|...