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
