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Worksheet 5: Objectives and Strategies
   
Section A.   What are the general objectives for the operation?
 

 

  • to establish the New Farm Market, providing a complete line of fresh fruits and vegetables.
  • to establish other product lines based upon customer wants and needs.
  • to establish name recognition for the New Farm Market.
  • to capitalize on seasonal home-grown produce.
  • To offer only the best quality items for sale. Items not meeting top-quality standards will not be sold through the market.
  • To be price-competitive with competitors, yet charge top dollar for items known to be top quality.
  • To provide the absolute best customer service.

 

 

Section B.   What specific strategies are needed to achieve the general objectives listed above?
 

 

  • establish the New Farm Market with a minimum investment, and expand as sales and profits warrant. Rich has found a piece of land that a building can be erected upon. These costs are reflected in the year-one balance sheet. The parcel of land includes ample space for market expansion and plenty of room for parking. The building is to be obtained from extension agricultural engineering and marketing specialists.
  • Debbie is asking the State Department of Agriculture for information about laws and regulations that affect retail farm markets. All necessaries permits will be obtained.
  • visually appealing highway signs that can be read by motorists passing in both directions will be erected. Rich and Debbie have a friend that works in advertising. Her assistance will help them decide on an appealing name for the market and to complete the signage.
  • once the market name is identified and the operating date for the market is known Debbie is planning an advertising campaign emphasizing home-grown freshness and quality in local newspapers.
  • consider ways to find excellent employees that can be trained to be knowledgeable about the products being sold. We feel that Rich and Debbie's success or failure in running a roadside market will depend on the type of customer service provided.

 

 

Refer to this sheet on a periodic basis to remind yourself of the objectives you set.
Revise/adjust these objectives as needed.

 

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