Chapter 4 Questions

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.