Products and Marketing

Question 1

The steps involved in the movement of animals and animal products from producer to consumer are known as what 2 things?

Answer 1

processing (getting animal ready for the consumer) and marketing (ways you get the consumer to know about and purchase your product)

Question 2

The price of an item is dependent on ______ and __________.

Answer 2

supply (how much of a product you have) & demand (how many people want to buy the product)

Question 3

How can you change supply if you are in the animal business?

Answer 3

You could breed your animals more so that you have more to sell.

Question 4

It is important for consumers to have confidence that your product is ________ and ____________.

Answer 4

wholesome and good quality (this means consumers must have faith that your product is safe, nutritious and tastes good)

Question 5

What is value based pricing system?

Answer 5

A price point that is based on an acceptable baseline. If the product exceeds the baseline quality and wholesomeness it will be more expensive, if it falls below the baseline it is less expensive. Ex: A standard breeding dairy goat can be purchased for about $250. If that goat has lots of “legs” from winning shows or an exceptional bloodline it will go for more than $250. If the goat is small and has not won any shows it will sell for less than $250

Question 6

The seller is always trying to receive the highest _____ while the buyer is trying to receive the greatest _______________.

Answer 6

price & value

Question 7

What is value of a product?

Answer 7

if a product is a good value that means you are getting high quality for a decent price

Question 8

In the U.S. what are the 3 types of goat industries?

Answer 8

dairy goat, meat goat, fiber producing goat (Angora goats)

Question 9

As of Dec. 31, 2010 there were approximately ______________ goat operations in the U.S. with an average of around __ goats per operation.

Answer 9

152,000, 20

Question 10

Dairy goats make up ___% of goats in the U.S. and the consumption of dairy milk continues to grow steadily

Answer 10

12%

Question 11

Goat Cheese is also called this

Answer 11

cheve

Question 12

goat meat is called this

Answer 12

chevon

Question 13

Goat meat is extremely ____ and will increase in ____ as the animal ages

Answer 13

lean, flavor

Question 14

Chevon from kids is called this

Answer 14

cabrito

Question 15

___ million people in the U.S. prefer goat meat.

Answer 15

53

Question 16

There are approximately __ million meat goats in the U.S. Goat meat demand is higher than supply.

Answer 16

2

Question 17

Why has angora production gone down steadily?

Answer 17

removal of wool and mohair incentives

Question 18

fiber producing goats make up ___% of the goat industry in the U.S.

Answer 18

6%