Tiltle :What is the importance of marketing?
What is the importance of marketing?
Added By :Warren E. Clark Date Added :5/5/2008
Good thoughts, as always. Looking at it from the standpoiont of the producer who's renting, or buying, land... The higher price per bu. increases a) land prices, b) rental rates, c) food prices, d) ethanol breakeven prices, and f) what else?
Added By :Dr. Danny Klinefelter, TEPEP, Texas A & M Date Added :5/1/2008
There is no question it's one of the critical functions of management. It depends a lot on whether you produce a commodity or whether you produce a differentiated product. If it's a commodity it's primarily a pricing decision. If it's a differentiated product or service then it's a matter of market research and product positioning promoting and salesmanship.
Back to the commodities in particularly volatile markets it's probably more important than production. Or at least as important for example you could have 50 bushel soybeans selling them at six dollars a bushel that's a $300 and acre gross 40 bushel soybeans sold at 7.50 is also a $300 gross. You can have basically a 20% shortfall in yields and still be just as profitable may be more so because there's less handling and storage charges.
