Implementing Marketing Strategies
Implementing Marketing Strategies
Washington Ag Today is presented by AMMO. I’m Lacy Gray
After attending the Understanding Marketing Basics AMMO workshops in January growers and producers walked away with a better understanding of how their local markets fit into the global economy. With the upcoming AMMO workshops on Improving Marketing Strategies February 11 - 14 Randy Olstad, with Columbia Grain, and Randy Fortenbery, Professor and Small Grains Endowed Chair with WSU, will walk growers through how to apply that information in creating a marketing plan that is right for their farm business. Fortenbery explains.
FORTENBERY: So it’s a little more mechanical and more focused on how to actually make and implement marketing decisions at your farm, and how to compare different market opportunities that might exist so you can recognize which ones are most attractive for you.
Workshop attendees will follow case studies to see how different marketing strategies would have compared over the past several years.
FORTENBERY: What we’ll be doing is looking at actually employing marketing mechanics. So, understanding how to decide between, let’s say, a futures market strategy that might involve an option or a hedge versus a cash market strategy - a forward cash contract, evaluating opportunities to storage, the things to consider in developing your own marketing plan at your farm level - the unique factors that you need to take into consideration.
There will be an added bonus for growers attending the workshop.
FORTENBERY: There will be some folks from the merchandizing sector involved as well who will talk some about how they actually interact with producers and what it is that they’re bringing to the table, and why they offer the prices that they do.
For workshop locations and information visit AMMO’s website at www.lcammo.org. AMMO is a program of the Washington Association of Wheat Growers.
That’s Washington Ag Today presented by AMMO. I’m Lacy Gray on the Ag Information Network.
