Marketing a stock yards business has historically adapted to changes in consumer buying patterns and the market itself.
In a growth-oriented business, marketing has to be seen as a core business activity. On the upside, great marketing is a real possibility for a stock yards business willing to adapt its strategy to the demands of the marketplace.
Don't have a background in marketing? That shouldn't stop you from taking a larger promotional role in your company by educating yourself about today's most effective marketing concepts. Entrepreneurs and leaders of stock yards businesses need to make every dollar count, especially when it comes to their marketing budgets. If you don't have a marketing background, it's critical to either educate yourself about basic marketing principles or consult with a professional marketing firm. We advise our business partners to seriously consider outsourcing their promotional requirements because professional marketers tend to have their fingers on the pulse of the marketplace.
Like many businesses, stock yards businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Moreover, a loss leader marketing strategy can compensate for dead periods when customers tend to making purchases. But to be effective, loss leader marketing requires planning, especially in product selection and price points. For the majority of stock yards businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Given the current competitive landscape, you can't successfully promote a stock yards business without a market segmentation strategy. Market segmentation has been around for decades and it has enabled many smaller companies to dominate parts of the market, even when they face competition from larger firms.
For segmented mailing lists, we recommend using a proven partner with the experience to assist in the execution of your segmented stock yards business market agenda.
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