| | Market intelligence, as defined by Wikipedia, is the information relevant to a company's markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy and market development. BNET, a business dictionary, further defines it as focusing on competitors, customers, consumer spending, market trends and suppliers.
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"Market intelligence is also the one tool that can assist agri-preneurs plan and implement successful new product introductions and keep their products in the marketplace longer," says Karen Goad, farm direct marketing specialist with Alberta Agriculture and Rural Development.
Local organizations are hosting workshops focused on market intelligence and value chain development, offered through the collaboration of the Canadian Value Chain Network. The Peace Region Economic Development Alliance (PREDA) and the Peace Value Added Food and Ag Association and Strathcona County are planning to host two workshops in partnership with Alberta Agriculture and Rural Development.
The next in this series is Market Intelligence: Gathering & Planning for New Product Introductions. The leaders for this one-day workshop understand the local market and the challenges farm direct marketers and start-up food processors face when growing their business and accessing new markets. The workshops are designed for farm groups, entrepreneurs, start-up food processors and business development teams in the food supply chain. Farm and small business operators will learn how to identify product and market opportunities and achieve successful product positioning in growing value added markets.
Experienced business people know that starting with the product is not always the best strategy for market success. First you must determine:
- the real value opportunity or gaps in the market within your product category
- the scope and potential of the market opportunity
- the current channels of distribution
- how the market works now and how it might evolve in the future
- the key product and service deliverables
"The market intelligence workshop will help participants determine relevant information to design a product and get it into a select market," says Goad. "During the workshop, participants will also explore a range of cost effective means for gathering market intelligence, and discover how these concepts and tools are used in practice, particularly for introducing new products."
The upcoming workshop will be held at the Strathcona County Hall, Sherwood Park, on November 17, 2009. Registration is $40 for County residents and $50 for non-residents. Workshop seating is limited, so early registration recommended. For workshop information or registration forms, contact Jennifer Brosseau at brosseau@strathcona.ab.ca or call 780-410-8511. Registration deadline is November 14, 2009.
In 2010, these organizations will host a New Product Development workshop in Grande Prairie on January 26, 2010, and again on February 2, 2010, at a location to be announced. To find out more about the Grande Prairie workshop, contact Linda Doucette at 780-538-6208.
These workshops are made available through the Canadian Value Chain Network with funding from the Agriculture and Food Council in Alberta and hosted by the local organizations of PREDA, Peace Value Added Food and Ag Association and the County of Strathcona.
Groups in Alberta that are interested in hosting these or other workshops from the series of eight are asked to contact Margurite Thiessen at 780-968-3513.
Contact:
Karen Goad
780-538-5629
Margurite Thiessen
780-968-3513 |
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