. Agri-news. Agriculture. Phone: (403) 427-2121. CO CO CO CO CO CO CO August 17,1992 Hit the target, plan to market Many farmers are now realizing marketing is more than selling, and that they should plan to market says an Alberta Agriculture regional marketing specialist. "Saying a marketing plan is a plan to market sounds oversimplified, but that's the gist of what you want to do—plan what you do, have a system instead of wandering through markets by chance," says Doug Cornell who is based in Airdrie. Cornell suggests considering five points in developing a marketing plan, starting
. Agri-news. Agriculture. Phone: (403) 427-2121. CO CO CO CO CO CO CO August 17,1992 Hit the target, plan to market Many farmers are now realizing marketing is more than selling, and that they should plan to market says an Alberta Agriculture regional marketing specialist. "Saying a marketing plan is a plan to market sounds oversimplified, but that's the gist of what you want to do—plan what you do, have a system instead of wandering through markets by chance," says Doug Cornell who is based in Airdrie. Cornell suggests considering five points in developing a marketing plan, starting with setting goals. "Your overall goal is, of course, to be as profitable as possible, but you need to be more specific. You'll have to set goals or objectives such as marketing within the top third of prices, meeting a specific rate of return, reducing the risk of price change before delivery, pricing above your production costs, or meeting cash flow needs without 'fire fighting'. Most people will probably have a combination of goals that include some of those ; Second is integrating your production and financial plans by figuring out what, when and how much of your product you have to sell. "This may be a case of when will your backgrounder cattle be ready for market, or which market you want them ready for and making adjustments to your production plans. Grain farmers may plan to pre-price 20 or 30 per cent of their crop before harvest if prices meet their target," Cornell says. Farmers also have to estimate their production costs when making a marketing plan. "This must be based on your costs, not someone else's," he says. These production costs include calculating a survival price on break even cash costs in case of a poor market; an acceptable price that covers all costs; and, a favorable price determined by adding 10 or 15 per cent to your acceptable price. "These calculations will give you an accurate picture of when pric
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