Strategic Marketing of Biobased Products? What can a strategic marketing expert do for your biobased products? Quite simply, strategic marketing ensures that your product has the market potential to achieve your target sales and profitability. While technical expertise lowers the risk of processing raw materials into finished goods, strategic marketing lowers the risk of transforming finished goods into the sold products. In order to do this, the strategic marketing expert identifies markets and establishes their size, a critical parameter for limiting product sales. A million-dollar market will naturally have lower revenue potential than a hundred million dollar market and the strategic marketing expert can derive likely revenues starting from the market size.
In addition to market size, strategic marketing takes into account market penetration scenarios dictated by factors such as market positioning of main competition versus the current and future market needs and wants. An expected change in consumer attitudes for example can have ripple effects across the entire value chain and the strategic marketing expert will position your offering to harness these opportunities to the company revenues. In short, the role of the strategic marketing expert is to identify and minimize future market risk while maximizing revenues in the most profitable way. He does this by ensuring that company technical, financial, and organizational capabilities along with the management objectives are all in line with future market opportunities.
A strategic marketing plan is typically the combined result of live interviews with key personnel and customers and multidisciplinary market research at the national, regional, or global level. The palpable outcome of good strategic marketing work is a clearly defined market direction and a well-mapped plan to commercial success for the company. This unique focus on markets is a critical complement to the usual due diligence effort ensuring that finished goods can be made in spec and that production capacity can be reached on time.
At Lee Enterprises Consulting, we have over 150 experts, including experienced strategic marketing experts in renewable fuels and chemicals. Our highly qualified teams bring a unique integration of technical, scientific, regulatory, and hands-on experience to any project. Look at our experts and the services we provide. Most of our experts are also available to advise and serve as expert witnesses in bioeconomy litigation matters. For the larger projects, we specialize in putting together full-service, interdisciplinary teams with one point of contact. See the video about LEC here. Call us at 1+ (501) 833-8511 or email us for more information.