AGR 231 - Agribusiness Marketing, Risk Management, and Entrepreneurship at Wytheville Community College
Course Description
Effective: 2012-01-01
Covers marketing techniques required to create an effective marketing plan addressing product, price, place, promotion, and people considerations of an agribusiness. Emphasizes unique aspects of agricultural products and risk management including price fluctuations and biosecurity. Projects explore entrepreneurship and creative marketing plans for a proposed farm or agribusiness.
3 Lecture, 0 Lab, 3 Credits
3 credits
General Course Purpose
Introduce students to agricultural marketing, risk management, and entrepreneurship. Emphasize unique differences in marketing and pricing agricultural products that arise due to a typically perishable product with an inelastic demand.
Course Objectives
- Identify traits of successful entrepreneurs
- Discuss advantages and disadvantages of being an entrepreneur andlor owning a small agricultural business
- Analyze consumer behavior and trends to identify market segments
- Explore opportunities that address current trends and market segment needs
- Develop a marketing plan for a differentiated product including pricing, promotion, and distribution
- Develop a comprehensive business plan utilizing financial statements
- Discuss the impacts of international trade and development policies, environmental issues, and changing consumer preferences upon the operation of the business
Major Topics to be Included
- Basic agricultural marketing concepts
- Agricultural Risk Management
- Consumer behavior, retail demand, & marketing margins
- Supply, Demand, and Elasticity of Demand
- Market segmentation
- Product design
- Product pricing
- Product distribution and logistics
- Product promotion
- Comprehensive business plan design
- Entrepreneurship
- Emerging agricultural markets and business opportunities
- Major trends, policy shifts, and international considerations