Completed Project Report


Improving Marketing Risk Management Skills: Combining In-Person and Online Educational Delivery

  • Award Amount: $50,000
  • Regional Center: North Central Extension Risk Management Education Center
  • Grant Program: 2019 Education Projects

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Project Overview

Producers continually need to evaluate the risk-return tradeoff of various marketing tools and strategies. This project delivered in-person and online educational opportunities that provided producers a framework to understand and evaluate their marketing opportunities and thereby improve their marketing outcomes. Five in-person workshops were held in Indiana, reaching over 200 producers. During these workshops, producers were provided a basic framework for evaluating various marketing tools and strategies, including decomposing the cash price the farmer receives into its futures price and basis components, forecasting basis using the Purdue Center for Commercial Agriculture Crop Basis Tool, and evaluating the returns to various storage strategies. Materials and experiences from the in-person workshops were then leveraged to develop a series of online commodity marketing modules. Restricted recording studio access due to the COVID-19 pandemic limited our ability to complete the online video portion of the project. We were able to complete a module of five videos right at the end of the project period when recording studio access became available. We are currently working on promotional materials for these videos and hope that they serve as the foundation of a broader online marketing risk management presence in the future.

Number of Participants: 219

Results

Project Steps

PROMOTIONAL MATERIALS

There are no promotional materials available for this project.

EDUCATIONAL MATERIALS

There are no educational materials available for this project.

REPORTS & EVALUATIONS

There are no reports or evaluations available for this project.

DELIVERY AREA

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INDIVIDUAL STORIES / EXAMPLES OF SUCCESS / QUOTES