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Veteran Advisor

Is Emotion The Major Challenge To Good Marketing?

I saw a presentation that said a marketing plan was to address the emotion of marketing.  Its as if emotion is the major obstacle to good marketing.

 

I'm not sure I agree with that.  I can make all kinds of bad marketing decisions with no emotion at all.  Hopefully, I can make good marketing decision even when they are emotional.  

 

Does the writer think that emotional means subjective?  I'm not sure that is always bad.  Sometimes subjective to an outsider just means he/she doesn't understand aspects of marketing that make perfect sense and are objective to the seller.

 

I don't want to say that I don't get my heart rate up on a sale once in a while, but I don't go into a panic attack, either.  I bet you don't, either.  What do you say about making the focus of a marketing plan the control or elimination of emotion?

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4 Replies
Esteemed Advisor

Re: Is Emotion The Major Challenge To Good Marketing?

Just like using cost of production for making a marketing decision, it is just a way

the pundits try to belittle the "emotional" or "out of control" farmer. Lots of

pontificating by folks who are not tough enough to do it themselves, so they teach it  :-)(

 

That said, developing rules in writing for making decisions is critical to success, or

at least, to build a knowledge/experience base quickly. We only have a few decades

to do this, we don't get 10,000 times, we get about 50 if you swim it in to the wall. Looked

at another way, in our lifetimes, we will get 2 of the  30 year inflationary advances, and only

about 8 genuine bull markets. You can't afford to waste the first 3 of them and learn nothing,

plus you might survive if you don't capitalize on them in your early/high risk years.

 

Reviewing the decision making plan, implementation, and outcome is critical to

learning. At least learning the real outcome to do some process improvement over

our lifetimes.

 

jmo

 

 

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Honored Advisor

Re: Is Emotion The Major Challenge To Good Marketing?

Probably the way you survive is to be like "grandpa", sell when you need the money, don`t contract grain you don`t have, don`t turn it over to "experts" with schemes you don`t understand.   Just don`t worry about it, oh I know that isn`t sexy, you can`t rent $400 land and buy $15,000 land and $700,000 combines and 100x200 heated shops...but how has that been working out lately? 

 

But if you figure the latest "boom times" 2008-2013 ..if you sold off the combine you were a winner, if you sold in any month you were a winner.   However I recall sitting at a basketball game in 2008 and the wife of a high roller was sitting next to me and I remarked how it`s nice the markets are moving in our direction, finally and she confessed "well, our banker had us sold out at $2.50 corn".   Now Mr Highroller probably wouldn`t have confessed that, but they had the banker forcing their market plan and that caused them to miss out on 1 or 2 years of those phenomenal  prices that we had.  On the flipside, perhaps they were selling $2.50 corn when some of the rest of us were selling for $2.25 or $2.00...so pick your poison   Smiley Happy 

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Veteran Advisor

Re: Is Emotion The Major Challenge To Good Marketing?

I don't feel I have to sell for the money but I do consider taxes as a major player in when I sell part of the cash crop.

 

For a while about 10 years ago, it was profitable to be selling as far out as 3 years, and I know a guy who was selling $3 corn when the rest of us who were not sold so far out were getting $6.

 

I don't know about not selling what you don't have.  I usually am Texas hedged and some years I've sold all my expected production on the board and also in future cash sales before it was out of the ground.  I sold the crop twice.  One year I got bit but other years it's been very profitable.

 

I agree with Time that those who don't have any risk - any skin in the game - have no idea of marketing. I also am skeptical of the formula guys.  A Texas A&M professor one time remarked that if you are satisfied to be as good as the next guy in farming you won't last long because the guy who is better than the next guy will outrent you or buy you out.  

 

I've always enjoyed marketing more than anything else I do on the farm.  I am not a fanatic about following the markets every hour and I'm not very sophisticated about it.  At the same time, I'm pretty involved and like to think I make all the decisions.  I will listen to my broker sometimes, but usually I'm better off doing my own thing.

 

Emotion is a big part of marketing, to me, to the extent that I enjoy it.

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Honored Advisor

Re: Is Emotion The Major Challenge To Good Marketing?

Yep Jim I've had that speech used on me by someone who told me how big and important he was and that I was going to sell part of My farm to him so I'd have a little money, he'd also rent it back to me so I could continue to farm.

 

He still doesn't own it, his adjoining farm had a big mortgage on it mine only had taxes pmts. I bought a ticket to sit on the fifty yard line a watch it happen. Still waiting.

 

Seems the smarter they are the more wrong they are.

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