COURSE OBJECTIVES

1. To help students understand economic theory, marketing principles, concepts, tools and analytical
    approaches and how to apply them to solve agricultural marketing problems.

2. To help students develop skills for solving macromarketing problems and public policy making and
    prepare them for careers in government and non-governmental organizations.

3. To help students acquire competencies for solving micromarketing problems and prepare them for
    careers in agribusiness industries.

TEXT
The text book for the course is Introduction to Agricultural Marketing by  Robert E. Branson and  Dougla G. Norvell (1983) published by McGraw-Hill Book Company, New York. This will be supplemented  by several readings indicated in outline. The readings are available in the Agricultural Economics Reference Room.

GRADING                              PERCENT

Projects                                          10
Case Analysis and Write-ups            10
Quizzes                                          10
Final Exam                                  70
TOTAL                                       100

TOPIC OUTLINE
1.  INTRODUCTION: THE CONCEPT OF A MARKET, MARKETING,
    AGRICULTURAL  MARKETING AND AGRIBUSINESS MARKETING

      What is a Market".
       Area of one price
            Products that are good substitutes
            Geographic areas that constrain the pricing of the product   in the location under analysis.

      What is Marketing?
            The Basic Definition
            The Product definition
            The Marketing Firm's Definition
            Society's Definition

      What is Agricultural and Business Marketing and Why Need A Special Theory of Agricultural
      Marketing?
            Agricultural Marketing Definition
            Agribusiness Marketing Definition

      Robert E. Branson and Douglas G. Norvell, 1983. Introduction to AgriculturalMarketing. New York:
            McGraw-Hill Book Company. pp.   4-7.
2. APPROACHES TO THE STUDY OF AGRICULTURAL MARKETING
      The Function Approach
      The Commodity Approach
      The Systems of institutional Approach
      The Managerial Approach

      Robert E. Branson and Douglas G. Norvell, 1983. Introduction to   Agricultural Marketing. New
            York: McGraw-Hill Book Company.   pp. 7-12

3.   THE ROLE OF MARKETING IN ECONOMIC DEVELOPMENT
      Characteristics of Developing Countries and their implications for marketing
      Characteristics of Agricultural Marketing in Developing Countries
      Role of Marketing in Development
                 Marketing Functions
                 Marketing Stages and the Linking of Organizations into   Coherent Systems

      Stages of Development of Marketing Systems and the likely Developments of Agricultural Markets in
            Developing Countries

      Kaynak, Erdener, 1982. "General Features of Marketing in Less   Developed Countries." In
            Marketing in the Third World. New   York: Praeger. pp. 12-52.

      Robert E. Branson and Douglass G. Norvell, 1983. Introduction to   Agricultural Marketing. New
            York: McGraw-Hill Book Company.   pp. 12-86.

4.   PRICE THEORY APPROACH: MARKET STRUCTURE-PERFORMANCE
      Perfect Competition
      Conditions for Perfect Competition
            Price and Output Determination under Perfect Competition
            Performance under Perfect Competition
            Market failure, and its implications
            Theorem of the second best
            Role of non-price institutions as important coordinating   mechanisms

      Monopoly
         Conditions for Monopoly
            Price and Output Determination under Monopoly
            Performance under Monopoly

      Monopsony
       Conditions for Monopsony
            Price and Output Determination under Monopsony Performance   under Monopsony

      Monopolistic Competition
       Conditions for monopolistics Competition
            Price and output Determination under Monopolistic    Competition
            Performance under Monopolistic Competition

      Oligopoly
       Conditions for Oligopoly
            Price and output Determination under Oligopoly
            Performance under Oligopoly

      Oligopsony
        Conditions for Oligopsony
            Price and output Determination under Oligopsony
            Performance under Oligopsony

      Directions of Economics: Game Theory and Industrial Organization Theory

      Robert E. Branson and Douglass G. Norvell, 1983. Introduction to   Agriculcural Markering. New
            York: McGraw-Hill Book Company.   pp. 112-126.

5.  PRICE ANALYSIS:

Supply and Demand Functions, Marketing Margins or Marketing Spread
      Price Variation Over Time: Cobweb Cycle, Seasonal Patterns and Secular Trends
      Price Variation Over Space
      Futures Markets and Forward Contracting

      Robert E. Branson and Douglass G. Norvell, 1993. Introduction to   Agricultural Marketing. New
            York: McGraw-Hill Book Company. pp. 139-171.

6.   THE INDUSTRIAL ORGANIZATION THEORY (STRUCTURE-CONDUCT-PERFORMANCE
     THEORY)
      Basic Conditions
      Structure
      Conduct
      Performance
      How efficiently agricultural markets in Zimbabwe perform their functions and policies for improving
            performance

      Caves Richard, 1992. Structure, Conduct, and Performance. New   Jersey: Prentice-Hall.

7.   TRANSACTION COSTS THEORY
      What are Transaction and Production Costs?
      Types of Transaction Costs
      Dimensions of Transactions
      Limits of Transaction Costs Approach
      Coordination Mechanisms to Hold Down Transaction Costs
       Agricultural Cooperatives
            Marketing Boards
            Grades and Standards
            Market Information
            Price Support Programs

      Robert E. Branson and Douglass G. Norvell, 1983. Introduction to   Agricultural Marketing. New
            York: McGraw-Hill Book Company. pp. 182-264

8.   STRATEGIC MANAGEMENT THEORY
      Porter's Five Forces Framework
      Government as a Sixth Competitive Force
      Environmental Factors and Environmental Analysis
      Generic Strategies

Components of Business Strategic Planning
          Evaluate Internal Environment
          Evaluate External Environment
          Develop Mission Statement
          Develop Goals
          Formulate Strategy - Marketing Plan, Financial Plan,    Production Plan Human Resource Plan
          Develop Procedures to Monitor Key elements and Strategy

  Components of Business Strategic Planning
          Marketing Segment Selection
          Product: Product Positioning, Life Cycle, and Innovation,    Product
          Pricing:    Objectives, Methods, and Trade discounts,      Pricing at different stages of life cycle
          Promotion:  Message, Promotion Alternatives, Promotion at     different stages of the life cycle
          Place:      Channels of Distribution, Choosing Channels of    Distribution, logistics

Robert E. Branson and Douglass G. Norvell, 1983. Introduction to Agricultural Marketing. New York McGraw-Hill Book Company. pp. 270-426.

9.  INTERNATIONAL AGRICULTURAL MARKETING
   Classical Trade Theory
          Absolute Advantage
          Comparative advantage

  The New Theory of International Trade (Strategic Trade Theory)
          Dynamic Comparative Advantage
          Competitive Advantage
          Business Marketing Strategy in International Markets
          Implications for Government Policy

   The Linking of Zimbabwe's Agricultural Marketing into International Markets
          The Debt Crisis and Structural Adjustment and Implications   for national development strategies
          and Agribusiness    Marketing Strategies

  David B. Yoffie, 1990. International Trade and Competition: Cases   and Notes in Strategy and
            Management. New York: McGraw-Hill   Publishing Company. pp. 3-30.

  Colin Stoneman, 1986. "The World Bank and the IMF in Zimbabwe." In  Structural Adjustment in
            Africa. Edited by Bonnie K.    Campbell and John Loxley. London, Macmillan Press, pp.37-66.

  Michael E. Porter, 1986. "Competition in Global Industries: A   Conceptual Framework." In
            Competition in Global Industries.   Edited by Michael E. Porter. Boston, Massachusetts:
            Harvard   Business School Press. pp. 1-60.

  The World Bank and the United Nations Development Program.    Africa's Adjustment and Growth in
            the 1980s. Washington,   D.C. The World Bank.

Rashid Faruquee and Ishrat Hussain, 1994. "Adjustment in Seven   Countries." In Adjustment in Africa:
            Lessons form Country   Case Studies. Edited by Ishrat Husain and Rashid Faruquee.
            Washington, D.C.: The World Bank. pp. 1-10 and 427-436.