AEC 305 Lecture Notes - Lecture 2: Breakfast Cereal, Agricultural Marketing, Ebay

• School: University of Kentucky
• Department: Agricultural Economics
• Course: AEC 305
• Professor: Roger Brown

Document Summary

Retailers include grocery stores and also restaurants, nursing homes, cruise ships: consumers: consumers are you, the individual buyers. Marketing is the process of moving goods and services through the relevant marketing chain from initial producers to final consumers. Marketing is a multidisciplinary activity that requires familiarity with business activities, economic incentives, geography, psychology, and technical knowledge (farming techniques, etc. ). As such, marketing encompasses many different activities: two farmers discussing when and where to sell their cattle, a graphic artist designing the packaging for a new variety of breakfast cereal, or brokers on the chicago board of. Trade furiously signaling their buy and sell orders. Farmers, truckers, factory workers, lawyers, accountants, psychologist, artist, planners, soil scientists, economist, engineers, geographers, chefs, traders, grocers, Adds value by enhancing the location, forms, or possession of goods and services. Market participation: everyone is an agricultural consumer.