The impact of market advisory service recommendations on producers' marketing decisions

Joost M.E. Pennings; O Isengildina; SH Irwin; DL Good

The impact of market advisory service recommendations on producers' marketing decisions

Joost M.E. Pennings^*, O Isengildina, SH Irwin, DL Good

^*Corresponding author for this work

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

A conceptual framework is developed which provides insight into the factors affecting the impact of market advisory service (MAS) recommendations on producer pricing decisions. Data from a survey of 656 U.S. producers reveal that the perceived performance of the MAS, the way in which MAS recommendations are delivered, as well as the match between MAS and producers' marketing philosophy, are important factors explaining the impact of MAS recommendations. Risk attitude does not affect the impact of MAS recommendations on producers' decisions, suggesting producers are more interested in the price-enhancing characteristics of MAS advice than in its risk-reducing features.

Original language	English
Pages (from-to)	308-327
Number of pages	20
Journal	Journal of agricultural and resource economics
Volume	29
Issue number	2
Publication status	Published - Aug 2004
Externally published	Yes

Keywords

market advisory services
ordered probit model
producers' marketing decisions
RISK MANAGEMENT
INFORMATION
EXTENSION
PREFERENCES
INSURANCE
PROGRAMS
ATTITUDE
FARMERS
UTILITY

Cite this

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title = "The impact of market advisory service recommendations on producers' marketing decisions",

abstract = "A conceptual framework is developed which provides insight into the factors affecting the impact of market advisory service (MAS) recommendations on producer pricing decisions. Data from a survey of 656 U.S. producers reveal that the perceived performance of the MAS, the way in which MAS recommendations are delivered, as well as the match between MAS and producers' marketing philosophy, are important factors explaining the impact of MAS recommendations. Risk attitude does not affect the impact of MAS recommendations on producers' decisions, suggesting producers are more interested in the price-enhancing characteristics of MAS advice than in its risk-reducing features.",

keywords = "market advisory services, ordered probit model, producers' marketing decisions, RISK MANAGEMENT, INFORMATION, EXTENSION, PREFERENCES, INSURANCE, PROGRAMS, ATTITUDE, FARMERS, UTILITY",

author = "Pennings, {Joost M.E.} and O Isengildina and SH Irwin and DL Good",

year = "2004",

month = aug,

language = "English",

volume = "29",

pages = "308--327",

journal = "Journal of agricultural and resource economics",

issn = "0162-1912",

publisher = "Western Agricultural Economics Association",

number = "2",

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TY - JOUR

T1 - The impact of market advisory service recommendations on producers' marketing decisions

AU - Pennings, Joost M.E.

AU - Isengildina, O

AU - Irwin, SH

AU - Good, DL

PY - 2004/8

Y1 - 2004/8

N2 - A conceptual framework is developed which provides insight into the factors affecting the impact of market advisory service (MAS) recommendations on producer pricing decisions. Data from a survey of 656 U.S. producers reveal that the perceived performance of the MAS, the way in which MAS recommendations are delivered, as well as the match between MAS and producers' marketing philosophy, are important factors explaining the impact of MAS recommendations. Risk attitude does not affect the impact of MAS recommendations on producers' decisions, suggesting producers are more interested in the price-enhancing characteristics of MAS advice than in its risk-reducing features.

AB - A conceptual framework is developed which provides insight into the factors affecting the impact of market advisory service (MAS) recommendations on producer pricing decisions. Data from a survey of 656 U.S. producers reveal that the perceived performance of the MAS, the way in which MAS recommendations are delivered, as well as the match between MAS and producers' marketing philosophy, are important factors explaining the impact of MAS recommendations. Risk attitude does not affect the impact of MAS recommendations on producers' decisions, suggesting producers are more interested in the price-enhancing characteristics of MAS advice than in its risk-reducing features.

KW - market advisory services

KW - ordered probit model

KW - producers' marketing decisions

KW - RISK MANAGEMENT

KW - INFORMATION

KW - EXTENSION

KW - PREFERENCES

KW - INSURANCE

KW - PROGRAMS

KW - ATTITUDE

KW - FARMERS

KW - UTILITY

M3 - Article

SN - 0162-1912

VL - 29

SP - 308

EP - 327

JO - Journal of agricultural and resource economics

JF - Journal of agricultural and resource economics

IS - 2

ER -