AGEC 340 CORRECT 100%
Six components industries of agri-food systems - ANSWERInput suppliers
Producers
Commodity Processors
Food Manufacturers
Food Distributors
Food Retailers
Two economic principles that drive consumer behavior - ANSWERmaximization of
satisfaction or utility
diminishing marginal utility
4 elements of sustainable competitive advantage - ANSWER1. Superior efficiency
2. Superior quality
3. Superior innovation
4. Superior customer responsiveness
4 commonly used strategic approaches to build competitive advantage - ANSWER1.
striving to be the industry's low-cost provider
2. outcompeting rivals on the basis of differentiating features
3. developing an advantage based on offering more value for the money - best cost
4. focusing on a narrow market niche within an industry
2 new sectors of agriculture after the agriculture revolution and industrial revolution -
ANSWERAgricultural Input Supply Sector
Commodity Processing/Food Manufacturing Sector
The mission of marketing - ANSWERto bridge the gap between the conflicting needs
of producers and consumers by completing the production process
The five barriers to consumer satisfaction - ANSWEROwner separation
Time separation
Space separation
Value separation
Information separation
The marketing approach accept the idea of - ANSWERconsumer sovereignty
Three prerequisites to an efficient economic system - ANSWERa free market
prices reflect the full value of resources
a high degree of interaction between consumers and producers
Three approaches for estimating market potential - ANSWERMacroeconomic
Population
Consumption
Six components industries of agri-food systems - ANSWERInput suppliers
Producers
Commodity Processors
Food Manufacturers
Food Distributors
Food Retailers
Two economic principles that drive consumer behavior - ANSWERmaximization of
satisfaction or utility
diminishing marginal utility
4 elements of sustainable competitive advantage - ANSWER1. Superior efficiency
2. Superior quality
3. Superior innovation
4. Superior customer responsiveness
4 commonly used strategic approaches to build competitive advantage - ANSWER1.
striving to be the industry's low-cost provider
2. outcompeting rivals on the basis of differentiating features
3. developing an advantage based on offering more value for the money - best cost
4. focusing on a narrow market niche within an industry
2 new sectors of agriculture after the agriculture revolution and industrial revolution -
ANSWERAgricultural Input Supply Sector
Commodity Processing/Food Manufacturing Sector
The mission of marketing - ANSWERto bridge the gap between the conflicting needs
of producers and consumers by completing the production process
The five barriers to consumer satisfaction - ANSWEROwner separation
Time separation
Space separation
Value separation
Information separation
The marketing approach accept the idea of - ANSWERconsumer sovereignty
Three prerequisites to an efficient economic system - ANSWERa free market
prices reflect the full value of resources
a high degree of interaction between consumers and producers
Three approaches for estimating market potential - ANSWERMacroeconomic
Population
Consumption
