Growing a Niche Market: A Targeted Marketing Plan for Colorado Homestead Ranches

Abstract

Colorado Homestead Ranches is one of a number of emerging value-added agricultural enterprises exploring the use of direct marketing to improve profitability and manage the risk inherent in commodity markets. This case study presents the market analysis and marketing channel information they used in developing a strategic marketing plan that includes a focus on consumer interest in production practices, willingness to pay for differentiated beef products and food purchase behavior as they explore further expansion of their business. Students are encouraged to consider targeted marketing strategies and the advantages and disadvantages of various marketing channels available to value-added producers. Copyright 2009 Agricultural and Applied Economics Association