What is ag marketing? correct answers includes all the steps in moving an agricultural product from the farmer to the consumer.
what does it involve? correct answers Planning, organizing, directing, and handling agricultural products in such a way as to satisfy farmers, intermediaries, and consu...
AGEC 314 || A+ Graded Already.
What is ag marketing? correct answers includes all the steps in moving an agricultural product
from the farmer to the consumer.
what does it involve? correct answers Planning, organizing, directing, and handling agricultural
products in such a way as to satisfy farmers, intermediaries, and consumers
economics is correct answers broadly defined as the study of the allocation of scarce resources.
Value-added process- production creates... correct answers utility- the process of making useful
goods and services
four types of utility correct answers Form utility
place utility
time utility
possession utility
holding food/material from periods of relative plenty to periods of relative scarcity correct
answers time utility
activities that assist the consumer in acquiring and taking title to desired products correct
answers possession utility
moving products to more optimal locations for the next stage of the process correct answers
place utility
changing raw materials into something useful that consumers are
willing to pay for correct answers form utility
agribusiness is a business involved in correct answers the agricultural marketing system
features of an agricultural market correct answers • Continuous flows and adjustments of orders
and products
• Biological lag - a feature of an ag market that separates it from other markets
• Gradual change involving new products, new methods, and new systems of
marketing and procurement
• Global nature⚬ Mustpayattentiontoimportandexportmarkets
steps of marketing channel correct answers input supplier,
production
assembly processing
wholesaling
retailing
consumption
, flow of payments and consumer preference information goes what direction correct answers right
to left
flow of product and quality information goes what direction correct answers left to right
the performance of ALL BUSINESS activities involved in the forward flow of goods and
services from producers to consumers correct answers Macro marketing
what does macro marketing focuses on? correct answers Focuses on the "who" and "what"
questions
what are the three macro approaches to Ag marketing correct answers -Institutional Approach
-Functional Approach
-Behavioral Systems Approach
institutional approach correct answers emphasizes KEY institutions and institutional players.
the WHO of marketing
Functional Approach correct answers Emphasizes functions performed in marketing
WHAT gets done
Behavioral Systems Approach correct answers Combines institutional and functional approaches
Focuses on the interdependence and coordination of all the participants and all the functions of
the new system
Who does what in an Institutional Approach? correct answers • Merchant Middlemen
• Agent Middlemen
• Speculators
• Processors and Manufacturers
• Facilitative Organizations
the performance of business activities that direct the forward flow of goods and services to
customers and accomplish the farmer's or the FIRMS OBJECTIVES correct answers MICRO
marketing
what does an effective micro marketing program involve correct answers more than a
satisfactory price and few ads
what is micro marketing focus correct answers Focus is on the accomplishment of the firm's
objectives; emphasis on the active role of firm's management
the performance of business activities that direct the flow of AGRICULTURAL
COMMODITIES to a firm to satisfy its objectives correct answers micro procurement, more
than an act of buying
may include assembling storing financing tansporting and warehousing
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