Changes in the role of marketing
Answer the following questions and submit to Chapters 3&4 Questions.
- Explain the relationship between marketing and the four functions of management.
- Explain how the role of marketing has changed the way agribusiness operate.
- Explain why the adoption of the marketing approach is important to the success of an agribusiness firm.
- What are the four Ps in the marketing mix and why are they called controllable? Why does a firm wish to control them?
- Explain how social media has changed marketing management.
- Does great marketing make selling unnecessary? Explain your answer using examples that illustrate your point of view.
- Explain how the successful execution of each of the four management functions leads to maximizing the long-run profits of the firm.
- What is the role of strategic planning in the success of agribusiness firms?
- Estimate the market potential of a pumpkin patch if the population in the target market is 45,700, the owner expects a .6% market share, the average selling price is $8.00 and the average consumption is 1.
- Estimate the annual market potential if the expected consumption is 5 bushels/per person, and the population of the target market is 415,000.