2014 slides1 - MODULE 1 INTRODUCTION TO MARKETING...

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MODULE 1 INTRODUCTION TO MARKETING MANAGEMENT IN FOOD & AGRIBUSINESS SLIDE SET 1 Summer 2014
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Overview of Food Marketing Defined/Role Functions Utilities Market Research Overview Primary versus Secondary Research Research Methodologies Overview CONTENT 2
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OVERVIEW OF FOOD MARKETING
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Performance of all business activities involved in the flow of food products and services from the point of initial agricultural production until they are in the hands of the consumer. The process of planning and executing the idea, product, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Marketing consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer . MARKETING DEFINED 4
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Make Decisions regarding: Feasibility and Market Analysis Target Markets – markets consist of customers identified as possessing needs the marketer believes can be addressed by its marketing efforts New Product Development Promotion – a means for communicating information about the marketing organization’s products to the market Distribution – the methods used by the marketer that enable the market to obtain products Pricing – ways for the marketer to set and adjust the cost paid by the market to obtain products Supporting Services – product features WHAT DO MARKETERS DO? 5
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Helps to bridge gap between needs of producers and consumers Helps producers understand needs of consumers so that they can meet those needs Helps producers decide what to produce and when to produce it ROLE OF MARKETING 6
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Two approaches to marketing exist. selling concept emphasizes selling existing products. Ex: if a product is not selling, more aggressive measures must be taken to sell it—e.g., cutting price, advertising more, or hiring more aggressive (and obnoxious) sales-people. marketing concept focuses on getting consumers what they seek, regardless of whether this entails coming up with entirely new products. MARKETING VS SELLING 7
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Exchange : Buying Selling Physical : Storage Transport Processing Facilitating : Grades Finance Risk Market information THREE FUNCTIONS A MARKETING SYSTEM PERFORMS.. 8
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Utilities are the elements needed for an exchange or purchase to take place between your company and your business customers. Utility refers to the value or benefit a customer receives from the exchange Four types of utility: 1. Form 2. Place 3. Time 4. Possession; together, they help to create customer satisfaction.
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