Marketing Management in Agriculture

Production is incomplete until it reaches the possession of final consumers. It is essential for agribusiness managers to be familiar with marketing management, which involves a series of activities that facilitate the product's journey to consumers.

Marketing management is the process of allocating resources towards marketing activities and is considered both an art and a science, commonly referred to as the four Ps of marketing.

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Meaning of Marketing Management in Agriculture

Marketing management is the process of allocating an organisation's resources toward marketing activities. It can also be defined as the art and science of selecting target volumes and managing customer acquisition, retention, and growth by creating, delivering, and communicating superior customer value.

Marketing Management as Both Science and Art

Marketing management combines both science and art. The scientific aspect provides general principles to guide managers in their professional efforts, while the art involves handling every situation effectively. Both science and art are mutually interdependent and complementary in marketing management.

Choosing Target Markets

It is not possible for a marketer to satisfy every consumer in the market. Therefore, marketers begin with market segmentation by identifying and profiling distinct groups of buyers with varying needs and preferences. Segments are often identified through demographic, psychographic, and behavioral differences. The organisation then selects the segments that present the greatest opportunity, focusing on the needs they can fulfill most effectively.

Marketing Mix in Agribusiness

Marketers use various tools to elicit desired responses from target markets, known as the marketing mix. This set of tools is used to pursue marketing objectives and is classified into four broad categories, referred to as the four Ps of marketing: Product, Price, Place, and Promotion. These categories represent the core components of any marketing strategy.

Marketing Management Cycle in Agriculture

Marketing is an ongoing process executed by marketing managers. In many cases, a marketing manager oversees the marketing process rather than managing people directly. For instance, a product manager may manage the marketing process for a specific product within a larger organisation.

The process results in products, stores, promotions, prices, and other outcomes. This cycle consists of four phases: Planning, Implementation, Monitoring, and Correction (PIMC).

1. Planning

Planning involves examining and understanding the external environment in which the organisation operates. This includes analyzing competition, legislation, social trends, and technology. Present and developing trends must be monitored to inform the organisation’s response to these external factors.

2. Implementation

Implementation is the process of putting plans into action. It marks the transition from expected reality to actual reality. Marketing events that occur during implementation include advertisements, setting prices, and sales activities.

3. Monitoring

Monitoring involves tracking the outcomes of implemented plans to evaluate their effectiveness. As markets are dynamic, ongoing evaluation is required to determine whether the assumptions made during planning still hold or need to be adjusted.

4. Correction

Correction is the phase in which actions are taken to return the plan to its desired state, based on feedback obtained during monitoring. If returning to the original plan is not feasible, adjustments are made to the planning outcomes. Monitoring and correction often occur simultaneously, as ongoing adjustments are necessary to align with changing market conditions.

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Roles of a Marketing Manager in Agriculture

Marketing managers play various roles that can be described using the letter D:

1. Detective: A marketing manager must understand market conditions, which involves conducting research, analyzing data, and gaining insights into consumer behavior and competitors.

2. Designer: After identifying a problem or opportunity, the marketing manager designs marketing programs to address the issue or capitalize on opportunities.

3. Decision Maker: Marketing involves numerous stakeholders, and the marketing manager must make key decisions about which programs and strategies to implement.

Marketing management is the process of allocating an organisation's resources toward marketing activities. The marketing management cycle consists of four key phases: planning, implementation, monitoring, and correction. Marketing managers play vital roles in designing, detecting, and making decisions that influence the success of marketing programs.

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Frequently Asked Questions

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