There are two key steps in the process of identifying the market for your products:
- Market Analysis: Understanding your customers (including strategies for conducting market research), competition, and market channels (distribution method)
- Market Differentiation: Determining how your product is unique and how it will be promoted and priced based on that uniqueness
These steps are covered in great depth in Module 2: Market Analysis and Module 3: Market Differentiation of Planning for On-Farm Success. To avoid duplication, this section of Farm Link will focus on specific Montana resources, but we encourage you to use Modules 2 and 3 to better understand your product’s market, particularly if you are planning on visiting with lenders, investors, or donors.