9 Agribusiness Marketing

what are the 4 P's of marketing

Product Price Place Promotion

Major planning objectives include

What consumer needs this business will fill How the firm will gain its competitive edge How can it do all this profitably

Mass marketing

all consumers have the same needs so a firm can produce a single product and use a single marketing approach

target marketing

consumers have different needs

Major components of marketing plan

current marketing opportunities and Issues Marketing strategy implementation financial analysis control

Evaluate on two criteria

efficiency fairness

controlling

evaluate the marketing goals established in the planning stage

Business plan

explains how a business intends to be successful

controlling

feedback on plan's progress

Marketing approach

first find out what the consumers want then develop a product to meet those needs

four utilities of marketing

form place time possession

SWOT

strength weaknesses opportunity threats

Organize the firm so...

that its primary emphasis is on meeting the needs of consumers

Sales forecast

the level of sales a single firm can expect to receive form a target market

Market potential

total level of sales possible in a target market for all firms

directing

transforming planning organizing and directing into reality

Market shares

percentage total sales from the target market achieved by a single firm

Concentration ratio

portion of market concentrated in the top firms

Value Separation

product is not in the form consumer desire

space separtion

product is not where consumers need it

Time separation

product not available when it is desired

What do Subplans include

-financial analysis -clear statement of consumer needs the firm will address

to be fair and efficient markets must have

-sufficient number of firms -few barriers to entry/exit -firms that differentiate and improve product as they complete against each other

5 barriers to consumer satisfaction

1. Ownership Separation 2. Space separation 3. Time separation 4. Value separation 5. Information separation

Nine marketing functions

1.Buying 2.selling 3. storage 4. transportation 5. processing 6. grades and standards 7. financing 8. risk taking 9. market information

Firm Purpose

Clear, concise, statement of purpose

planning

goal is to put the firm in the best possible position relative to the future

organization

guides how the plan is delivered

Firm objective

how the firm will accomplish its purpose

Marketing

identify, analyzing and understanding consumer needs.

Ownership separation

inability to transfer ownership

Information Separation

lack of information about the product