PERCEPTIONS OF MARKETING STRATEGIES - PRODUCERS VERSUS EXTENSION ECONOMIST

Extension marketing economists commit substantial resources to outlook and market analysis. Producers demand this information and use it to make production and marketing decisions. This study analyzes responses to a marketing survey of producers and extension marketing economists to discern similarities and differences in their perceptions regardin g market timing, futures market efficiency, and risk management. Produ cer and extension perceptions are consistent with regard to several ma rketing issues, although they are not always consistent with published research results. Both producers and extension economists disagree th at producers will receive a lower average price by forward contracting , and many do not believe hedging reduces risk and lowers expected ret urn. Extension marketing economists rate risk reduction as a less impo rtant goal of marketing strategies than do producers.