1. Help Session Exam 1 Aaron Fritz and Yeonhee Doh AGEC 414 Spring, 2006

2. Overview Test taking tips Brief overview of test concepts Examples of some questions Q & A

3. Answer Tips for Tests Read the questions carefully…twice!! Essay Questions = Partial Credit Label and explain everything to the best of your ability TAKE YOUR TIME

4. Introduction Market Definitions Market Chain, flow of information ConsumerFarmer

5. Drivers of Agribusiness Sector Technology Consumer Legal/Regulatory Economy (Domestic/Global)

6. Marketing Marketing System – Utility Added – 9 Functions Value Added

7. Agribusiness Industry Farming and Ranching Processing-Manufacturing – Commodity and Food Food Wholesaling Food Retailing

8. Trends FAFH Nutrition and Health Food Safety HACCP Organics Other Issues – Globalization – Biotech – Enviromentalism – Welfare – Niche – Info

9. Research Importance – Descriptive – Predictive – Control Data Sources Qualitative VS Quantitative

10. Chapter 1 What a market is and segments of it Exchange 4 Ps Marketing activities and decisions

11. Chapter 2 Mission vs Vision Marketing Plan – Executive Summary – Situation Analysis – SWOT – Marketing Goals and Objectives – Marketing Strategies – Marketing Implementation – Evaluation and Control

12. Chapter 3 Situation Analysis – Internal Environment – Customer Environment Who, what, where, when, why, and why – External Environment Competition Economy Politics Legal Technology Sociocultural

13. Chapter 4 SWOT Analysis – Strengths – Weaknesses – Opportunities – Threats Benefits of SWOT Interpreting Analysis StrengthsOpportunities WeaknessesThreats Match Convert

14. Some Real Essay Questions 1.We discussed in class two different definitions of the term “market”. – Provide a brief definition for each of these two approaches. – Explain and discuss the differences between these two views of what a market is in relation to marketing management.

15. Some Real Essay Questions 2.Food away from home (FAFH), or the food service industry, is the fastest growing part of the food and agribusiness sector in the U.S. economy. What are the fundamental drivers affecting this trend? Explain and discuss the logic or role of each as they contribute to this trend.

16. Some Real Essay Questions 3. In the development of a situation or environmental analysis for a marketing plan, the customer is one of the key areas of focus. Identify and describe the different types of information you should seek out in order to adequately assess the customer environment.

17. GOOD LUCK! Study hard, read each question, and take your time. You all will do well. Questions?