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e. project management, feasibility study preparation, evaluation, research, development and extension on agricultural and biosystems engineering > Farm Marketing > Flashcards

Farm Marketing Flashcards

1
Q

the process of dividing the total market into several groups seeking similar benefits from a product or service and requiring separate marketing mixes

A

market segmentation

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2
Q

the proportion of a company’s total sales of a product during a defined duration in a specific market or geographical area

A

market shares

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3
Q

the process of continuously and profitably satisfying the target customer’s needs, wants and expectations superior to competition

A

marketing

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4
Q

the set of controllable and inter-related variables composed of product, place, price, and promotions that the company assembles to satisfy a target group better than its competitors

A

marketing mix

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5
Q

specifies a target market and a related marketing mix

A

marketing strategy

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6
Q

the state of felt deprivation of some basic satisfaction

A

needs

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7
Q

all the activities of designing and producing the container for a product

A

packaging

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8
Q

making products available in the right quantities and locations – when customers want them

A

place

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9
Q

having the product available where the customer wants it

A

place utility

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10
Q

communicating the overall positive impression of a brand, relative to competition

A

positioning

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11
Q

the value of a product expressed in monetary terms; the only element of the marketing mix that produces revenue

A

price

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12
Q

the tangible offering of a firm that satisfies customer’s needs and wants

A

product

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13
Q

a company’s growth strategy that identifies and develops new products to sell to existing markets

A

product development

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14
Q

communicating information between seller and potential buyer to influence attitudes and purchase intentions

A

promotion

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15
Q

following down all the sales leads in the target market to identifying potential customers

A

prospecting

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16
Q

the analysis of a person’s lifestyle

A

psychographics

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17
Q

the ability of a product to satisfy a customer’s needs and wants

A

quality

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18
Q

all of the activities involved in the sale of products or services directly to final consumers

A

retailing

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19
Q

the portion of market potential where a specific company’s brand of a product could expect to sell under ideal conditions

A

sales potential

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20
Q

activities or benefits that are offered for sale. They are essentially intangible and do not result in the ownership of anything

A

services

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21
Q

products that offer the buyer a choice

A

substitutes

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22
Q

a fairly homogeneous group of people or organizations to whom a company wishes to appeal

A

target market

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23
Q

specific satisfiers of needs

A

wants

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24
Q

refer to activities that sell to those who buy for resale or business purpose

A

wholesaling

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25
Q

Series of services/process of moving the product from the point of production to the point of consumption

A

marketing

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26
Q

place where buyers and sellers meet to exchange goods and services

A

market

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27
Q

A social process by which individuals obtain what they need and want through creating, offering and freely exchanging products and services of value with others (Kotler, et . al)

A

marketing

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28
Q

the part of the qualified available market the company decides to pursue

A

target market

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29
Q

Type of buyers that buy goods to satisfy their personal needs

A

ultimate buyers

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30
Q

type of buyers that buy goods for resale/for the purpose of transforming it into another form

A

industrial buyers

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31
Q

an element of a market considered as the suppliers of goods and services

A

sellers

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32
Q

it is the point of usual first sale by the farmer at the farm or at the farmer’s home

this is also where a transaction occurs and farm price is established

A

point of production

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33
Q

this is the point where marketing ends; also the point of last purchase/sale

A

point of consumption

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34
Q

it is added prior to the point of production

A

product services

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35
Q

it is added after the point of production

A

marketing services

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36
Q

a type of utility created if goods possess the required properties

A

form utility

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37
Q

utility created when products are made available where they are most wanted

A

place utility

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38
Q

utility created when goods are transferred or are placed under the control of the persons who desire to use them

A

possession utility

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39
Q

utility created when products are made available when they are most wanted

A

time utility

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40
Q

marketing functions done to standardize measurements, which could be in terms of size, weight, and overall quality

A

grading

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41
Q

marketing function

wrapping products for protection, easier product handling and overall presentation; total product presentation

A

packing/packaging

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42
Q

marketing function

facilitates transfer of ownership

A

negotiation

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43
Q

marketing function

bulking/accumulation of products to attain desired volume; done by an intermediary

A

assembly

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44
Q

marketing function

stocking for goods availability when needed (for processing or for consumption)

A

storage

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45
Q

marketing function

bearing risk associated with physical damages, increased costs, and other types of losses; loss incurred from operations

A

Risk-taking or risk-bearing

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46
Q

marketing function

undergoing some levels of transformation for increased marketability

A

processing

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47
Q

marketing function

financial allocation for working capital and investments in marketing facilities

A

financing

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48
Q

marketing function

a continuous function done for the purpose of giving information regarding product availability, features, etc. with the end view of increasing sales

A

promotion

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49
Q

marketing function

gathering relevant data to assure that there is a product-market fit, that is, the produce must match with what the end-users want

A

market intelligence/ market research

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50
Q

3 Cs of marketing

Objective: To outperform competition

Output: Market shares

A

Competition

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51
Q

3 Cs of marketing

Objective: To ensure corporate health and profit

Output: Profit

A

company

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52
Q

3 Cs of marketing

its objective is to satisfy the needs, wants and expectations of target customers

output: sales

A

customer

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53
Q

type of market that consists of end-users of products and services

A

consumer market

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54
Q

type of market that buy products for the purpose of producing another product or reselling to other markets

A

business market

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55
Q

it results from satisfying customer’s needs and wants.

A

sales

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56
Q

key result areas

what are the 3 Us of marketing (to increase sales volume)?

A

new users
new usage
more usage

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57
Q

key result areas

it is the ratio of your brand sales versus the total market sales

A

market shares

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58
Q

key result areas

indispensable component for a firm to continuously satisfy its customers.

A

profit

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59
Q

key result areas

Company’s sales expressed as a percentage of the total market sales

A

market shares

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60
Q

states of felt deprivation; basic human requirements such as food, air, water, clothing, and shelter so one can survive

A

needs

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61
Q

Needs become wants when they are directed to specific objects that might satisfy the need. The form human needs take as they are shaped by culture and individual

A

wants

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62
Q

Want for a specific product that is backed up by an ability and willingness to buy it.

A

demand

63
Q

process of obtaining a desired product from someone by offering something in return. It is the prerequisite of marketing.

A

exchange

64
Q

it is is marketing’s unit of measurement. It is the trade of value.

A

transaction

65
Q

marketing core concept

  • Anything offered for sale, attention and acquisition
  • Come in the form of goods, services and ideas
A

products and offerings

66
Q

10 Types of Entities Marketed by Marketing People

A

goods,
services,
experiences,
events,
places,
persons,
properties, organizations,
information,
ideas

67
Q

it is done to homogenize markets

A

segmentations

68
Q

it consists of a group of customers who share a similar set of wants

A

market segments

69
Q

someone seeking a response (attention, purchase, vote, donation) from another party, the prospect

A

marketer

70
Q

consumer’s estimate of the overall capacity of the product to meet desired needs and wants

A

value

71
Q

end result when a product is able to meet customer expectations

A

satisfaction

72
Q

A process of forging long term relationship with key parties - customers, suppliers, distributors

A

relationship marketing

73
Q

it is where products are made available to the customers

A

marketing channels

74
Q

channels that Deliver and receive messages from target buyers

A

communication channels

75
Q

channels that Carry out and facilitate transactions with potential buyers

A

service channels

76
Q

Aka value delivery system

Describes the long process which starts from raw material sourcing to the marketing of the final products

A

supply chain

77
Q

Refers to the alternative firms that could provide a product or service to satisfy a specific market’s needs

one of the realities in marketing

A

competition

78
Q

type of competition where you compete where the other players are

A

red ocean

79
Q

type of competition where you compete where the other players are not

A

blue ocean

80
Q

in a marketing environment, it includes demographic, economic, natural, technological, politico-legal and socio-cultural environments.

A

macro-environment

81
Q

in a marketing environment, it includes the participants in the supply of raw materials and production, distribution, promotion and consumption of products.

A

industry environment

82
Q

The monitoring and evaluating of marketing environments is called ___

A

environmental scanning

83
Q

set of tools a firm uses to pursue marketing objectives with the target market

consists of everything that a company can do to influence demand for its product

A

marketing mix

84
Q

4 Ps of Marketing

activities that communicate the product’s features and benefits and persuade customers to purchase the product

A

promotion

85
Q

4 Ps of Marketing

amount of money paid by customers to purchase the product

A

price

86
Q

4 Ps of Marketing

activities that make the product available to consumers

A

place (or distribution)

87
Q

4 Ps of Marketing

goods and/or services offered by a company to its customers

A

product

88
Q

4 P’s marketing tools

variety, quality, design, features, brand name, packaging, services

A

product

89
Q

4 P’s marketing tools

channels, coverage, assortments, locations, inventory, transportation, logistics

A

place

89
Q

4 P’s marketing tools

advertising, personal selling, sales promotion, public relations

A

promotion

90
Q

4 P’s marketing tools

list price, discounts, allowance, payment period, credit terms

A

price

91
Q

4 Cs of marketing

Customers want to buy value or a solution to their problems

A

customer cost

92
Q

4 Cs of marketing

Customers want products and services to be as convenient to purchase as possible.

A

convenience

93
Q

4 Cs of marketing

Customers want to buy value or a solution to their problems

A

customer satisfaction/solutions

94
Q

4 Cs of marketing

Customers want two-way communication with the companies that make the product.

A

communication

95
Q

Consumers favor products that offer the most quality, performance, or innovative features

A

Product concept

96
Q

Consumers will buy products only if the company aggressively promotes/sells these products

A

selling concept

97
Q

Consumers prefer products that are widely available and inexpensive

A

production concept

98
Q

Focuses on needs/ wants of target markets & delivering value better than competitors

A

marketing concept

99
Q

what are the 4 pillars of marketing concept?

A

Target Market
Customer Need
Integrated Marketing
Profitability

100
Q

Difference between what the consumer pays and what the producer receives for his produce

A

marketing margin (price spread)

101
Q

returns to the factors of production used in providing the processing and marketing services rendered between the farmers and consumers.

A

marketing cost

102
Q

components of marketing costs

A

wage
interest
rent
profit

103
Q

returns according to the various agencies or institutions involved in the marketing of products.

A

market charges

104
Q

types of margins

A

absolute
percentage
percent mark-up

105
Q

this type of margin can be computed by

Selling Price (SP) – Buying Price (BP)

A

absolute margin

106
Q

formula for computing percentage margin

A

(AM/SP) x 100%

107
Q

this type of margin can be computed by

(AM/BP) x 100%

A

percent mark-up

108
Q

(Farm Price/Final Retail Price) x 100%

A

farmer’s share

109
Q

Middlemen’s Absolute Margin/Final Retail Price

A

middleman’s share

110
Q

WS Absolute Margin/ Final Retail Price

A

wholesaler share

111
Q

CB Absolute Margin/ Final Retail Price

A

contract buyer share

112
Q

Absolute Margin/Final Retail Price

A

retail share

113
Q

occurs when a firm or agency gains control of other firms or agencies performing similar marketing functions at the same level in the marketing sequence

A

horizontal integration

114
Q

occurs when a firm performs more than one activity in the sequence of the marketing process

A

vertical integration

115
Q

a firm assumes another function of marketing which is close to the consumption function

A

forward integration

116
Q

involves ownership or a combination of sources of supply

A

backward integration

117
Q

a combination of agencies or activities not directly related to each other may, when it operates under a unified management

A

conglomeration

118
Q

the sum total of all operations involved in the manufacture and distribution of farm supplies; production activities on the farm; and the storage, processing, and distribution of farm commodities and items made from them (Davis and Goldberg, 1957)

A

agribusiness

119
Q

encompasses the whole of the agriculture sector plus a portion of the industrial & service sectors

A

agribusiness sectors

120
Q

Network of participants and activities that bring about product movements within the agribusiness system

A

agribusiness marketing system

121
Q

start of the agribusiness marketing chain

include manufacturers, dealers, brokers, and other types of intermediaries

A

input sector

122
Q

contains the primary (crop) and secondary (livestock) factories of agriculture, which produce raw materials for consumption and for further processing

includes farmers and several layers of middlemen

A

farm sector

123
Q

forms the links between the other sectors mentioned

A

marketing sector

124
Q

provider of services to facilitate performance of production and marketing functions

A

agroservices

125
Q

example of agroservices

A

technical assistance,
financing,
warehousing,
market information dissemination
breeding services

126
Q

Classification of middlemen

do the accumulation and bulk these for storage or for distribution to wholesalers

A

assemblers

127
Q

Classification of middlemen

  • deal directly with end-users;
  • wholesalers’ partners in distribution activities
    buy in bulk and repack or reprocess the products for easier distribution
A

retailers

128
Q

Classification of middlemen

do the business of negotiating in behalf of the producers and buyers

do not get profit from performing selling or distribution activities

do not assume ownership of products that they are handling

A

agents and brokers

128
Q

Classification of middlemen

usually handle products in bulk and sell to retailers, processors or other wholesalers and industrial users

do not deal with end-users of products

A

wholesalers

129
Q

type of intermediaries most prevalent in the fruits and vegetables.

Buying contracts between the buyer and the producer

A

contract buyers

130
Q

business operators who get the produce in large quantities either from the wholesalers or contract buyers.

A

wholesaler-retailer

131
Q

takes over the physical handling of the product, arranges for the terms of sales, collects, deducts his fees, and remits the balance to his principal

A

commission agent

132
Q

buy from producers and contract-buyers, assemble the products in large volume and transport them to market centers, locally known as the viajeros that sell products on wholesale basis

A

assembler-wholesaler

133
Q

middlemen who buy live poultry and livestock from the wholesaler or direct from the producer and sell them in dressed or carcass form.

A

butcher-retailer

134
Q

perform the functions of wholesalers/ retailers

A

distributors

135
Q

sell only to the final customers and not to the intermediaries

A

dealers

136
Q

buys from products and a sell basic products after having added value to them by product modification/ expression)

A

value added reseller

137
Q

take physical possession and ownership of products sold to other intermediaries/ final customers

A

merchant

138
Q

unlike merchants, do not assume ownership of products sold

A

functional intermediaries

139
Q

assist the flow of products/ information in marketing channels

A

facilitating agents

140
Q

classification of agribusiness products

may be directly consumed by the buyers

not usually intended for further processing

A

finished products

141
Q

classification of agribusiness products

products that underwent secondary or the second level of transformation

in forms which are for use by other industries and processors but may not be consumed

A

Semi-processed agribusiness products

142
Q

classification of agribusiness products

Directly harvested from the farms

Do not pass higher levels of transformation

A

Fresh Agricultural Products

143
Q

classification of marketing activities

Exchange activities which lead to the transfer of ownership of property rights

include Buying and selling, Negotiation, Risk taking

A

transactional

144
Q

classification of marketing activities

refer to activities which enable the different parties to have physical possession of the product

include assembly, storage, grading, packaging, processing, transporation

A

physical (handling and distribution)

145
Q

classification of marketing activities

Activities performed to create faster and more efficient performance of transactional and physical handling activities

include market intelligence, market information dissemination, financing

A

facilitating

146
Q

Dress the product means?

A

branding, packaging, labeling

147
Q

type or marketing

direct communication and transaction with the buyers

A

direct

148
Q

type or marketing where selling is through intermediaries

A

indirect

149
Q

pricing strategies consideration

to determine the lowest limit in pricing

A

cost

150
Q

pricing strategies consideration

to determine the highest price level

A

demand

151
Q

pricing strategies consideration

to determine range of possible prices

A

competition

e. project management, feasibility study preparation, evaluation, research, development and extension on agricultural and biosystems engineering (9 decks)

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