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Questions and Answers
What is one of the main objectives of storage in marketing?
What is one of the main objectives of storage in marketing?
Storage is less important for products that are harvested and marketed throughout the year.
Storage is less important for products that are harvested and marketed throughout the year.
True
Name one place where storage can occur.
Name one place where storage can occur.
Farm, marketing channels, terminal markets, cold storage, or consuming areas.
The costs of storage include repairs and maintenance, insurance against loss, and ___.
The costs of storage include repairs and maintenance, insurance against loss, and ___.
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Match the following storage risks with their descriptions:
Match the following storage risks with their descriptions:
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Study Notes
Storage: The Time Dimension of Marketing
- Storage equalizes seasonal production to demand patterns
- Storage maintains uninterrupted trade channels
- Storage objectives include balancing supply and consumption during periods of high and low supply
- Specific objectives include maintaining stable prices for producers, middlemen, and consumers; ensuring product availability; transporting products from farms to markets; and extending product shelf life
- Storage is crucial for crops harvested and marketed within a short timeframe, less important for crops produced and marketed year-round.
- Storage locations include farms, marketing channels, terminal markets, cold storage facilities, and consumer areas
- Storage costs include facility costs (repairs, maintenance, depreciation, insurance, handling fees), energy costs (electricity), equipment rental, and quality deterioration (shrinkage, insect damage)
Risks of Storage
- Physical risks include insect damage
- Market risks also impact storage
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Description
Explore the crucial role of storage in marketing and its impact on balancing supply and demand. Understand the objectives of storage, including price stability and product availability, along with the associated risks and costs. This quiz covers the time dimension of marketing within the storage context.