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Marketing Plan. Why do it? Provide discipline!! Requirements Business risk analysis Production schedule Cash flow needs Price /basis forecasts. Marketing Plan. How to do it? Establish clear objectives Develop a checklist of: marketing / purchasing alternatives to consider

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Marketing plan
Marketing Plan

  • Why do it?

    • Provide discipline!!

  • Requirements

    • Business risk analysis

    • Production schedule

    • Cash flow needs

    • Price /basis forecasts


  • Marketing plan1
    Marketing Plan

    • How to do it?

      • Establish clear objectives

      • Develop a checklist of:

      • marketing / purchasing alternatives to consider

      • key market developments to monitor, and when


    Marketing plan2
    Marketing Plan

    • From the requirements listed, determine pricing targets, operating procedure, and schedule for revising/updating targets.

    • Afterwards, evaluate how well the plan worked and what should be changed.


    Marketing plan3
    Marketing plan

    Percent Qty Price Tgt Time Tgt

    10

    20

    30

    50

    70

    100


    Marketing plans
    Marketing Plans

    • Should be set up before first opportunity becomes available for your enterprise

      • 5-7 year contracts

      • when appropriate futures/options begin trading


    Marketing plans1
    Marketing Plans

    • Should drive production decisions

      • Diversification to reduce some risks, or enterprise specialization for other goals

      • Comparative returns for corn/soybeans should influence production choices


    Marketing plans2
    Marketing Plans

    • Consider probability and size of price change after you take your position

      • Margin calls or lost opportunities

      • How would that affect you?

      • What you would gain from improved or assured results?


    Marketing plans3
    Marketing Plans

    • Consider other factors:

      • Production risk?

      • Cost of production?

      • Lenders requirements?

      • Financial leverage/viability?

      • Your ability and knowledge in dealing with market risks?


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    Marketing Plans

    • Should be based on what you want to achieve, what you want to avoid

      • Financial targets

      • Financial ability to withstand possible adversities


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    Marketing Plans

    • Should be based on realistic evaluation of possible and probable market prices

    • Must determine in advance acceptable levels of target prices and associated size of position, so you will act when the opportunity arises


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    Marketing Plans

    • Must periodically reconsider as market realities and price probabilities change

      • Schedule important times to reevaluate plans based on your situation, commodity market task factors

      • Plan in advance action plans


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    Marketing Plans

    • Requires careful monitoring of relevant market opportunities and price probabilities

      • Fundamental factors

      • Technical analysis for turnaround warnings, when to take positions


    Marketing plans8
    Marketing Plans

    • Try to anticipate possible market developments

      • When something has happened, often too late to do something about it.


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    Marketing Plans

    • When quantity risk declines, take bigger positions at attractive prices

    • When risk of adverse consequences declines, take bigger positions

    • When price outlook is not clear, but attractive levels, use scale up programs to avoid missing out completely


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    Marketing Plans

    • Don’t kick yourself for taking attractive profits, even if you don’t top the market


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    Marketing Plans

    • After you have completed your marketing:

      • How do the actual returns compare with your objectives?

      • Analyze how you can improve the process next year.


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    Marketing Plans

    • If you don’t have the ability or personality for marketing decisions under pressure, hire someone who does!

    • What is your competitive/comparative advantage?


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