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Agricultural Economics Keeping Track AGRICULTURAL ECONOMICS Vol. VII, No. 1 Fall 2005 Purdue Student NAMA Team Brings Home National Championship, by Jennifer Cutraro. “They do research to become NAMA Team members’ comments familiar with a product, put about choosing Purdue and partici- together a plan to market it pating in this competition. and defend that plan in front of a professional audience. It’s Doug Bergman, Senior from Waldron: a much different experience I chose the College of Agriculture because of my than any we could create in a farm background and advice from friends who had graduated with degrees in Agricultural Eco- classroom setting.” nomics. From this competition I learned that a solid, cohesive team is more important than any Jennifer Govan, a senior individual. We all had our specifi c parts of the agricultural economics major presentation, but bringing them all together made from Fort Wayne, Ind., said it a successful plan. the competition provided Tanya Hadley, Junior from Woodburn: left to right: Doug Bergman, Jay Akridge – faculty advisor, Courtney Warren, valuable experience in learn- There was no question where I wanted to enroll. Toby Hollinger, Jennifer Govan, Stacie Warner, Tanya Hadley, Jesse Beck. ing how to market a real I loved the campus and the atmosphere as I vis- Not pictured: Christine Wilson, faculty advisor. agricultural product. “I don’t ited Purdue on numerous occasions for 4-H and A team of Purdue University agricultural come from a farm background, so this was FFA events. Competing benefi ted me because economics students won fi rst place in this a great learning experience for me,” she it gave me more exposure to the application of marketing, and it taught me what is entailed in year’s National Agri-Marketing Associa- said. “It gave me exposure to an industry I preparing a marketing plan and strategy for a tion marketing competition, which took didn’t even know existed before.” new product. place April 20-22 in Phoenix. Seven undergraduate students majoring Stacie Warner, Junior from South Whitley: The team’s winning plan promotes a type in agricultural economics participated in I chose the College of Agriculture because it and of heating pad designed to keep piglets the scholarship opportunities it provided are out- this year’s project. This is the fi rst time in standing. I learned how important constructive warm – invented, it turns out, by Purdue more than 25 years of competition that criticism is to the improvement of a team, and graduate Dick Ward, who majored in ag- Purdue has won fi rst place. how enjoyable it is to share the success with those ricultural economics in 1943. you have worked the hardest. The team members, all from Indiana, are Teams participating in the national com- Govan; Jesse Beck, of Anderson; Doug Courtney Warren, Senior, from Crown Point: I chose Purdue over all others because they have petition select an agricultural product Bergman of Waldron; Tanya Hadley, of the best agriculture program in the country - one and develop a plan to bring the product Woodburn.; Toby Hollinger, of Rich- that allowed me to study various aspects of sales or service successfully to the marketplace. mond; Stacie Warner, of South Whitley; and marketing applied to an agriculture setting. In developing a marketing plan, students and Courtney Warren, of Crown Point. The College of Agriculture helped widen my follow the same practices and principles horizons and provided exposure to many differ- used by marketing professionals, said Jay Overall, 30 student National Agri-Mar- ent courses, not only selling and marketing, but other areas in business and agriculture as well. Akridge, professor of agricultural econom- keting Association chapters participated The team members knew each other’s strengths ics and a co-advisor to the team. in the 2005 marketing competition. The and weaknesses . everyone had such different event is part of the National Agri-Mar- backgrounds, and that was so important to the “We began looking last year for an agri- keting Association’s annual conference team’s progress. cultural product that wasn’t very widely and trade show. More than 350 student known,” said Christine Wilson, assistant ❖ Jennifer Govan, Senior from Ft. Wayne: members attended the conference. My sister graduated with a degree in Agricultural professor of agricultural economics and Economics and she explained that it was the most faculty advisor for the student team. “The Thanks to the following individuals and organiza- diversifi ed fi eld - I could work in marketing, warming pads were a perfect fi t for the tions that fi nancially supported the 2005 Team: managing, fi nance, and other major areas . I competition.” Dick Ward, John Deere, Agri Business Group did not want to limit my options. It is my main career goal to be a vital part of solving signifi cant (ABG), Elanco Animal Health, Mid-America problems that confront the agricultural world. “This experience represents reality in ev- NAMA, Purdue Agribusiness Club, and the ery sense for the students,” Akridge said. Department of Agricultural Economics. Department of Advancing Opportunities for Indiana Agriculture Agricultural Economics and Small Businesses Quick Reference One of our depart- Extension faculty in Agricultural Economics Sarahelen “Sally” Thompson Ph.D. ment’s most impor- are also offering programs to help produc- Department Head and Professor tant applied research ers enter and succeed in specialty markets 765-494-4191 and outreach activi- through Exploring Opportunities in Specialty [email protected] ties is identifying, Markets workshops that offer insights on the evaluating, and ad- trends, market requirements and marketing Paul Preckel, Ph.D. vancing economic tools needed to help break into agricultural Assoc. Department Head and Professor 765-494-4240 opportunities for specialty markets. “We are combining tools [email protected] Indiana agricultural and practical experience from people who are producers and small actually in the market, and that’s a great way Graduate Program businesses. Many to offer a program,” said Corinne Alexander, Ken Foster, Ph.D. Dr. Thompson members of our fac- agricultural economist and workshop coor- Associate Department Head ulty are involved in these activities through dinator. “These workshops will offer a broad and Professor several programs, some of which are high- perspective on specialty crops, especially those 765-494-1116 [email protected] lighted below. We are also looking forward that don’t have established markets yet, such to working with the staff and programs of the as blue corn and spelt.” Lou Ann Baugh new Indiana State Department of Agriculture Graduate Coordinator in the implementation of their strategic plan The Purdue Agricultural Innovation and 765-494-4196 that is also designed to expand opportunities Commercialization Center (AICC) and [email protected] for Indiana agriculture. [See http://www. the Extension New Ventures Team provide in.gov/isda/strategic_plan/index.html educational material and business planning Undergraduate Program tools to help entrepreneurs assess the poten- Frank Dooley, Ph.D. for more information about the plan.] tial of new value-added ventures. The New Teaching Coordinator and Professor 765-494-4244 Strategic Business Planning for Commercial Ventures Team, with members in all regions [email protected] Producers is a comprehensive curriculum for of Indiana, provides assistance in the business educators to use in teaching commercial farm development process through advice and edu- LeeAnn Williams managers to be highly effective business man- cational materials. The AICC has developed Academic Advisor and agers. To be successful, farm managers must a business planning tool available through the FIMM Coordinator either have or acquire a comprehensive set of Internet at http://www.emba-agbus.purdue. 765-494-0262 strategy, fi nance, marketing and risk manage- edu/planner/. Because it can be diffi cult to [email protected] ment tools. Purdue University has developed know where to begin exploring a venture, this Center for Food and this resource, in collaboration with Farm website asks key questions to help the user Agricultural Business, and Credit Services of Mid-America, to teach through the business planning process. After Purdue-Kelley MS-MBA in Food and these skills. Information about this program completing the online assessment process, the Agribusiness Management can be found at http://www.agecon.purdue. user individually, or with the assistance of a Jay Akridge, Ph.D. edu/extension/sbpcp/index.asp. New Ventures Team member, should be able Director and Professor to go to potential partners with a well-planned 765-494-4327 To help producers gain a strategic look into [email protected] idea. More information about these programs future agricultural technology and how most can be found at http://www.agecon.purdue. Center for Rural profi tably to put it to use, we continue to of- edu/newventures/. Development fer our annual Top Farmer Crop Workshop. Kevin McNamara, Ph.D. As in previous years this workshop offers Finally, we continue to offer our popular an- Director and Professor producers the opportunity to “test before you nual Agricultural Outlook program. This 765-494-4236 invest” by testing the profi tability of new or program, led by Chris Hurt and involving sev- [email protected] different equipment, crop rotations, or other eral members of our department, provides out- innovations on the computer. Under the lead- look information about the macroeconomy, Global Trade Analysis Thomas Hertel, Ph.D. ership of Jess Lowenberg-DeBoer, in 2004 the government programs affecting agriculture, Director and Professor workshop pioneered yield monitor data analy- agricultural trade, retail food prices, corn, soy- 765-494-4199 sis for on-farm comparisons. No other crop beans, wheat, forages, hogs, cattle, poultry, and [email protected] management workshop in the country offers dairy industries, agricultural inputs, farm land a yield monitor data analysis option of this prices, and cash rents.
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