Farmer Ca Phase 3: A Case Study

A farmer’s biggest tool is his or her budget, this is an important tool used to analyze and measure profits and how the monies will be allocated for continued growth. The choice to purchase new equipment or sell off crops or livestock is not an easy decision, farmers need to think in short and long terms (how this will affect the business and how long it will last) and weigh the financial impact. Food and fiber industry budgets should be prepared with a specific objective. Receipts and costs are difficult to estimate in budget preparation because they are numerous and variable. Therefore, farmers are encouraged to prepare a sample budget, based on acreage for crops and animal units for livestock, as an approximate and make adjustments according to the production situations (Harper et al). When the budget is set, the farmer
Networking and product placement through fresh farm market days or setting up at your local market for face to face interaction, both methods allows the consumers a chance to get to know the producer (farmer) and the opportunity to learn more about how the produce was grown. Another great way to promote alternative grown produce in the beginning stages can be to market to your neighbors, family, church functions, roadside sales, and restaurants. Starting small, using word of mouth for the first year and as sales increase using more advanced methods. Creative Marketing, the four P’s of marketing – product, price, place and promotion Product/Services: know your consumer, your product, what do they want? Price: Is the price competitive? Will the price attract consumer and yield a profit. Place: location, location, location, is your product/service easily