| Worksheet
5: Objectives and Strategies |
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| Section
A. |
What are the general objectives for the operation?
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- 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.
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| Section
B. |
What specific strategies are needed to achieve the general
objectives listed above? |
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- 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.
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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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