mci

WHY MARKETING CLUBS: 

WHY MARKETING CLUBS KEY TO LEARNING

Presentation Sources: 

Presentation Sources www.montanamarketmanager.org CBOT publication on marketing clubs

What Is A Marketing Club: 

What Is A Marketing Club Producers meeting on a regular basis To improve knowledge of the marketing system in order to become more effective marketers An educational effort using Self study Group study Hands-on application

Why Join a Marketing Club: 

Why Join a Marketing Club Continued education Combine marketing with farm management and finance Share market information Learn by doing Limited or reduced risk Peer support group

Continued Education: 

Continued Education Concepts matched with situation & covered in small doses Questions clarified in small group setting by Other club members Extension and Farm Business Management instructors Grain and cattle buyers and brokers

Marketing, Management and Finance: 

Marketing, Management and Finance Marketing Evaluating marketing alternatives Determining what pricing opportunities exist Management Cost of production Acceptable profit level Finance - Cash flow projections

Share Market Information: 

Share Market Information Commodity committees Track prices Examine fundamentals & technicals Report current situation, recent developments, and forecast expected changes Share newsletters, market services, & electronic information

Learn by Doing: 

Learn by Doing Students retain 10% of what they hear 20% of what they see 40% of what they discuss 80% of what they experience Marketing clubs Lots of discussion & help each other Case studies and paper trading to limit risk

Peer Support Group: 

Peer Support Group Helps overcome indecision Helps evaluate alternatives Provides moral support to damaged egos Enforces the need for marketing plans

Types of Marketing Clubs: 

Types of Marketing Clubs Market information club Market simulation club Market trading club

Market Information Club: 

Market Information Club Informal structure No officers Optional attendance Meet periodically Review market conditions Sponsor educational and marketing programs Discuss pricing and marketing opportunities Does Not Qualify for Program Funding

Market Simulation Club - Preferred & Qualifies for Funds: 

Market Simulation Club - Preferred & Qualifies for Funds More formal Elect officers and write by-laws and procedures Collect dues Meets regularly Hold business and educational program Discuss marketing strategies Simulate trades on futures, options and elevator contracts

Market Trading and Analysis Club: 

Market Trading and Analysis Club Formal legal organization See section in handout on “Trading Account” Rules of commodity trading commission apply Elect officers and write by-laws and procedures Collect dues and pay out gains/losses Meet regularly Hold business and educational program Discuss marketing strategies Take futures and options positions (speculate)

Ways to Start a Marketing Club: 

Ways to Start a Marketing Club Interested group of producers meet Sponsor marketing workshop Hold interest meetings Publicize Determine if interest exists Determine level of marketing knowledge Gather ideas on a meeting place and time Collect address and phone numbers

Ingredients for Success: 

Ingredients for Success 10 to 20 producers with desire to learn Facilitators with ability to communicate Leader willing and capable of helping others to learn Marketing instructor to present concepts

Typical Meeting: 

Typical Meeting Meet around a table, not classroom style Develop standard format Participate in a orderly manner Old and new business Educational component Commodity, newsletter & other reports

Sources of Marketing Information: 

Sources of Marketing Information Marketing instructor Extension and Farm Business Management Local colleges USDA Market advisors Web sites and DTN Commodity exchanges Elevator managers, brokers and local buyers

What Will Work: 

What Will Work Leader that keeps everyone involved Facilitator that handles details Get everyone involved in commodity committees Use local experts effectively Focus on reasonable strategies

Your Marketing Club: 

Your Marketing Club Summary Get organized Learn from each other Get everyone involved Thanks for your attention Have fun