Challenge: Business required research to support a strategy to reach a larger market for their technology Solution: Secondary research identified two target markets as well as buying motivations and ideal channels for promotion Impact: Research supports a better understanding of horticulture markets and allows the business to position themselves as a viable product for large-scale growers
Terra Optima Labs has developed vermichar and biochar, two products that aim at reducing food waste and reducing carbon emissions from plants. These eco-friendly soil solutions have the potential to change the way plants are grown. The products are currently being sold directly through e-commerce to consumers but a strategy to reach a greater market is needed.
Research is also needed to better understand the horticulture market to position these technologies as viable solutions for large-scale growers. An understanding of the size of the market(s), pain points, and buying behaviours of this market are also needed. A plan on how to promote in both business-to-business and business-to-consumer markets is needed to support revenue growth for both markets.
To understand how Terra Optima Labs can best position themselves in the market, Niagara College’s Business & Commercialization Innovation Centre (BCIC) completed secondary research to uncover key insights of the horticulture and greenhouse industry. Additionally, an analysis and key findings of Terra Optima Labs compatibility with various applications within the industry was provided.
To better understand how Terra Optima Labs fits into the existing eco-system and competitive analysis was done, uncovering key insights from current players in the industry. Based on the research completed, two target markets were identified, including their buying motivations and ideal channels to promote to these parties through.
Finally, a detailed report of the most effective promotional strategies for Terra Optima, including key talking points, communication channels, and ideal partners and audiences was conducted.
Niagara College’s Business & Commercialization Innovation Centre was able to level-up Terra Optima Lab’s marketing plans and create a reliable plan for successful product distribution. This plan will help them move forward and contribute to the growth of this Ontario small business.
This project was made possible by funding from the Federal Economic Development Agency for Southern Ontario, through the Niagara College-led Greenhouse Technology Network.
Visit Niagara College’s Business & Commercialization Innovation Centre (BCIC) website to learn more about its resources and capabilities.
(Project #NC127)
