Soil Moisture Tester (SMT) Marketing Plan for Farm Tech Inc.

Soil Moisture Tester (SMT) Marketing Plan – Farm Tech Inc.
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Executive Summary
The world is facing severe problems in terms of climate change, soil moisture deterioration, and water scarcity. With an increasing need for environmental sustainability and water conservation, agriculture (the biggest water consumer) requires technology-based solutions to ensure optimal water use by reducing wastage. Farm Tech Inc. proposes the Soil Moisture Tester Gadget (SMT), which will retail at an average of $86, targeting three key market segments: gardening, small-scale farming, and industrial agriculture organization. The SMT can read soil moisture content and soil quality and, therefore, provides data and information that informs farmers when to water and the idea crops to grow. The gadget is expected to reduce water consumption by 35%.
Therefore, the current paper provides a marketing plan for the promotion of the project. It consists of organization, market, industry, competitor, and customer analysis where minimal obstacles to the entrance and stiff competition. The marketing program consists of price, promotion, place, and product strategies to provide FTI with a competitive edge. Other covered areas include financial projection, implementation of the current marketing plan, and subsequent evaluation of KPIs, including translation of web and social media traffic into sales. Online and local store-based positioning will be an idea in ensuring consumers have access to both information and the product. An effective marketing plan for the first five years will cost $300 000 annually will translate into at least $4.5 million in gross revenue annually.

Soil Moisture Tester (SMT) Marketing Plan – Farm Tech Inc.
1.0 Company & Product Description – Farm Tech Inc.
Today, the modern global society is facing worrying realities in global warming, depletion of soil moisture, and drying up of rivers. Thus, the world is in a critical moment where people must adopt sustainable usage of water. The OECD reports that irrigated agriculture is the largest consumer of water, accounting for 70% of worldwide water consumption (OECD, 2018). However, the figure is short of small-scale usage of water for farming activities like ownership of household backyard gardens and small pieces of land held by individuals. Given the pressing need for responsible and optimal use of water, technology powered interventions are required to assist farmers in conducting farming activities optimally and efficiently while conserving water by reducing wastage. Such technologies include the Soil Moisture Tester developed by Farm Tech Inc.
Farm Tech Inc. (FTI) is an American-based organization that designs, develops, markets, and retails technological gadgets to enhance farming strategies and approaches. The organization's mission is to provide high-quality farm technology and enhance productivity. The organization's vision is a world where farm products are produced with efficient and optimal water utilization. FTI is headed by the CEO who overseas different departments and operations, including Human Resource Manager, Marketing Manag...