MKTG1289:

Marketing

Assessment Task 2: Marketing Plan











Company: Elders
Strategic Business Unit: Retail

TABLE OF CONTENTS

EXECUTIVE SUMMARY

INTRODUCTION

FIGURE 1: SUMMARY OF ELDERS SBUS (ELDERS ANNUAL REPORT 2014)

EXTERNAL ANALYSIS

AGRICULTURAL INDUSTRY
FIGURE 2: AUSTRALIAN AGRICULTURAL COMMODITIES 2010---11 (ABS 2011)
TABLE 1: KEY PESTLE TRENDS
FIGURE 3: ANSOFF MATRIX: ELDERS RETAIL SBU EXISTING TO PROPOSED

5
5
6
7

CUSTOMER ANALYSIS

GENDER
AGE
DIVERSITY
FARM SIZE
CUSTOMER PURCHASING PATTERNS
TABLE 2: ANIMAL HEALTH CLIENT ACTIVITY

8
8
8
9
9
9

MARKET SEGMENTATION

10

FIGURE 4: AGRICULTURAL SECTOR TARGET MARKET SEGMENTS (CARPENTER AND CODNER 2014; ABS 2011; BARR 2014)10

BRAND ANALYSIS

11

FIGURE 5: WHAT SURVEY RESPONDENTS WOULD LIKE TO SEE FROM ELDERS IN THE FUTURE (CARPENTER AND CODNER 2014)
11
FIGURE 6 --- BRAND POSITIONING MAP USING CLIENT PREFERENCES AROUND PRICE AND SERVICE (CARPENTER AND CODNER
2014; BARR 2014; SHENG ET AL 2014)
12
FIGURE 7: BRAND POSITIONING MAP USING CLIENT PREFERENCES AROUND INNOVATION AND LOCAL PRESENCE (CARPENTER
AND CODNER 2014; BARR 2014; SHENG ET AL 2014)
13
FIGURE 8 --- ELDERS BRAND POSITIONING BULLSEYE
14

PRODUCTS AND SERVICES

15

PRICE ANALYSIS

16

DISTRIBUTION AND SUPPLY

16

MARKETING MIX 7 PS

18

TABLE 4: ELDERS 7 PS MARKETING MIX

SWOT ANALYSIS
TOWS ANALYSIS
TABLE 5: DECISION FRAMEWORK FOR TOWS STRATEGIES

19
20
21
22

MARKETING OBJECTIVE AND STRATEGIES

23

CONCLUSION

24

REFERENCES

25

Executive Summary
Elders is an Australian agribusiness that has suffered from poor financial performance over
recent years, only turning a statutory profit in 2014 after six years of losses (Elders Annual Report
2014). Elders has lost significant market share over this period due to a lack of confidence in the
stability of the business and its ongoing viability (Carpenter and Codner 2014). The key marketing
issue for Elders is how to grow the Retail business in an environment of low confidence, high
farm debt, increasing cost of farm inputs and strong competition.

The marketing objective for Elders is to gain a further 10% of the market share, with a 20%
return on capital employed, through innovative promotion and product development
strategies. An extra 10% market share would bring in approximately $680m in additional
revenue. To address external trends, this Marketing Plan suggests that Elders moves its
marketing strategy from Market Penetration to Product Development.

The strategies are aimed at positioning Elders to target Traditional and New farmers as defined
within the report. These customers highly value:

Quality Service

Exceptional Value

Innovation

Locally based business

Reliability

The strategies best employed to meet the needs of these target markets are high benefit, low
risk strategies to implement over the next 12 months, with a budget of $5.5 million:
1.

2.

3.

Promotion (launch)

grass---roots marketing campaign focusing on local engagement

large scale local print and on---line media advertising campaign

Products

on---line information portal that easily provides the advice farmers need

loyalty rewards product that offers improved credit terms

Place and People

Build local presence by employing local representatives operating from their own
office/location

Introduction

Marketing is the management process responsible for identifying, anticipating and satisfying
customer requirements profitably (Chartered Institute of Marketing 2009). The purpose of this
Marketing Plan is to outline the market segments Elders will target in order to grow the business,
the companys value proposition, strategies to communicate with the target market and an
implementation plan.

Elders is a publically listed agribusiness on the Australian Stock Exchange (ASX:ELD), with points
of presence across Australia and Asia. Elders aims to be one of Australias leading suppliers of
rural farm inputs including seeds, fertilisers, agricultural chemicals, animal health products,
general rural merchandise and professional production advice. Elders provides primary
producers with the professional support to maximise the potential of farming enterprises
through product lines as outlined in Figure 1. Elders Retail SBU sells farm inputs to producers
from a branch network of around 220 stores across Australia, as well as via an on---line platform.

Figure 1: Summary of Elders SBUs (Elders Annual Report 2014)

Elders has struggled to perform in recent years, with company losses recorded for the six years
proceeding FY2013. In the companys latest Annual Report (2014), Elders reported a significant
improvement in performance with underlying Earnings Before Interest and Tax (EBIT) of $27.3m.
EBIT margin lifted from ---3% in FY2013 to 2% in FY2014.

To remain viable and deliver value to shareholders, Elders must understand its external context
and develop sound strategies to take advantage of opportunities and avoid threats.

External Analysis

Agricultural Industry

The Elders Retail SBU operates within the agricultural industry, providing inputs to primary
producers to support farming. According to the 2010---11 Agricultural Census conducted by the
Australian Bureau of Statistics (ABS 2011), there are approximately 136,000 farm businesses
across Australia, with a breakdown of production outputs as outlined in Figure 2 below. In 2010---
11 the gross value of total Australian agricultural production was $46.0 billion, an increase of
16% (or $6.3 billion) from 2009---10. The gross value of crops in Australia rose by 18% to $25.0
billion in 2010---11 (ABS 2011). But while the market is growing, Elders market share is not
increasing at the same rate (Carpenter and Codner 2014)

Figure 2: Australian Agricultural Commodities 2010---11 (ABS 2011)

Elders key competitors in the agricultural retail industry include Landmark and the
Independents. Analysis shows that Elders currently has 13% of the market share (Carpenter and
Codner 2014).

The key trends that are expected to influence Elders future performance are outlined in Table 1.

Table 1: Key PESTLE Trends

Political

Economic

Social

Technological

Legal

Environmental

Globalisation of

Increasing demand

Increase in rural

Increased

Ethical animal

Ethical food

food

for beef and grains

debt

availability of

handling and

production

advice via internet

production

in Australia to feed

Commodity and

the Asian food

food price and

bowl

volatility

Farm consolidation

Sustainable

practices

and increase in

Efficiency and

corporate farming

productivity gains

Focus on quality

through technology

processes and

practises,
traceability

specialised farm

Farming patterns

consultants

less fixed, more

purchasing

opportunistic

decisions

wellness and fresh

produce

Increase in

Focus on health,

Seasonality

traceability

considerations and

The key marketing issue for Elders is how to grow the Retail SBU in an environment of low
confidence, high farm debt, increasing cost of farm inputs and strong competition.

Elders current marketing strategy is set around market penetration, which involves increasing
market share within existing market segments. Elders seeks to sell farming products and services
to established customers or by finding new customers within existing markets. However, the
external trends show that consumer patterns are changing as the technology advances and
primary producers are affected by increasing debt levels and rising farming costs. Information is
more readily available to farmers through the internet, and they are able to shop around for
the best information and cost effective products. The market is also highly competitive.

How does Elders remain competitive in this changing environment?

Opportunities to develop innovative products and services would see Elders shifts its marketing
strategy from Market Penetration to Product Development. This involves developing new
products for existing markets, and involves thinking about how new products can meet customer
needs more closely and outperform the products and services of key competitors. This strategy
would allow Elders to provide more choices for its customers in order to meet their needs more
closely, with a medium level of risk (Ansoff, 1958).

Figure 3: Ansoff Matrix: Elders Retail SBU Existing to Proposed

Elders currently has 13% of the retail market share in the agricultural industry (Carpenter and
Codner 2014). The objective for Elders is to gain a further 10% of the market share, with a 20%
return on capital employed, through innovative promotion and product development strategies
such as interactive and informative on---line portals for clients and cross---selling.

Customer analysis

There has been marked change in the agricultural industry over the last 200 years and this has
been particularly significant over the last 60 years. The perennial image of the Australian farmer
is one of tradition, adaptability and resilience born of necessity. However, the modern farmer
takes a contemporary approach and is often well---educated, environmentally aware and using
sophisticated technology and farming machinery. The modern farmer needs to stay productive
and efficient in order remain viable in an increasingly competitive market that operates on a
global scale.

Education
As farming becomes more complex and globally competitive, more people within the industry
are valuing business skills. This has seen increasing numbers of farmers pursue formal
educational qualifications, and over the last three decades this number has more than doubled,
from 15% to 38% (ABS 2011).

Gender
The traditional masculine image of the farmer is reflected in the fact that men made up the
majority (72%) of farmers in Australia in 2011 (ABS 2011). Women account for a sizable minority
of the nations farming workforce (28%).

Age
Australias farmers tend to be significantly older than other workers, with the median age of
farmers 53 years, compared with 40 years for people in other occupations (ABS 2011). In 2011,
almost a quarter (23%) of farmers were aged 65 years or over, compared with just 3% of people
in other occupations (Barr 2014). Since 1991 the population of farmers aged over 65 has
increased by 55 per cent, which is also an important contributor to the increasing median age of
the farmer population (Barr 2014).

Diversity
There tends to be less diversity amongst farmers than the rest of the Australian population. In
2011, only 11% of Australian farmers were born overseas, compared with 26% of the total
population (ABS 2011). The most common place of birth for those born overseas was the UK
(20%), followed by countries in South Eastern Europe, South---East Asia and New Zealand.

Farm size
Since the early 1980s, it has been observed that farm productivity has been increasing and also
that the average operating size of farms has also been increasing (Sheng et al. 2014). Studies
have also concluded that large farms are achieving higher productivity by changing production
technology rather than increasing scale alone (Sheng et al. 2014).

Despite agricultural production being increasingly concentrated in large farms in recent decades
(ABS 2014) the majority of Australias farms are comparatively small. In 2010---11, just over half
(55%) had an estimated value of agricultural operations of less than $100,000. There were,
however, a small number (7,700 or 6%) of large farms with estimated agricultural operations in
excess of $1 million (ABS 2011). This reflects the diverse nature of farming in Australia ranging
from small, often family---owned businesses, to very large (family and corporate) businesses.

Customer purchasing patterns

Table 2 below demonstrates that clients that purchase products for one category alone have a
lower average earn, and those that spend across three or more categories have a significantly
higher average earn (Elders Livestock & Wool Internal Report 2012). Therefore, there is
opportunity to considerably improve overall client earn through cross selling.
Table 2: Animal Health Client Activity

Client Count

Earn ($)

Average Earn ($)

Cattle only

20,444

14,868,569

727

Cattle & Animal Health

6,359

24,827,704

3,904

20

Sheep only

7,441

7,526,244

1,011

Sheep & Animal Health

5,276

18,404,463

3,488

18

Sheep & Cattle only

2,180

5,202,913

2,387

12

Sheep & Cattle & Animal Health

2,927

23,362,337

7,982

41

Total

44,627

94,192,230

19,499

100

Market Segmentation
A market segment defines the group of customers who share a similar set of needs and wants
(Kotler and Keller 2012). Applying the above client analyses and key insights, Elders can
categorise and target three key segments, as outlined in Figure 4, below. The Fairfax research
report (2014) indicates that competitors already heavily service Segment 3. Therefore, Elders
could focus its marketing efforts on Segments 1 and 2.
Figure 4: Agricultural sector target market segments (Carpenter and Codner 2014; ABS 2011;
Barr 2014)

Brand analysis

Fairfax Agricultural Research and Marketing conducted a research project into Elders Awareness
and Usage by surveying 1336 farmers. 55% of all respondents were currently Elders clients. Of
the 45% that didnt consider themselves current Elders clients, 10% had previously used Elders
but did no longer.

The Fairfax research survey asked what would you like to see from Elders in the future with
responses as outlined in Figure 5.
Figure 5: What survey respondents would like to see from Elders in the future (Carpenter and
Codner 2014)

The research findings highlighted the brand perception that Elders is moderate service but high
in cost (Carpenter and Codner 2014). To remain competitive, Elders will need to consider
strategies that position the brand as better value than currently perceived, and move into the
high service, low cost quadrant as depicted in Figure 6 below.

The Current Brand Positioning Maps, below, show the preferences of the three key market
segments as well as the current positioning of Elders and its main competitors, Landmark and the
Independents. This represents Elders relative position in the marketplace against the attributes
that drive purchase. Attributes examined in Figure 6 and 7 include price, service, innovation and
local presence.

Figure 6 --- Brand Positioning Map using Client Preferences around Price and Service (Carpenter
and Codner 2014; Barr 2014; Sheng et al 2014)

Figure 7: Brand Positioning Map using Client Preferences around Innovation and Local Presence
(Carpenter and Codner 2014; Barr 2014; Sheng et al 2014)

When asked to rate values and attributes to the extent that they related to Elders, participants
selected them in order as follows:

RATING

#1

Value for money

#2

Extensive branch network

#3

Great products and services

#4

Innovation

#5

Technical experts

#6

Access to global markets

#7

Branch staff with wide range of knowledge and skills

#8

Understanding of farmers seasonal needs

When asked what their immediate thoughts were of the company Elders, 31% of respondents
replied in the positive around Good company / service / well established. However, 21%
immediately thought of financial troubles and 10% had a bad experience with the company.

The following brand positioning bulls---eye assists to understand the content and context of the
Elders brand.
Figure 8 --- Elders Brand Positioning Bulls---eye

To gain additional business of those clients seeking good value products and services, Elders
would need to position itself as a cost effective innovator in agriculture as well as a leader in the
field of productivity improvements. The company needs to be seen as reliable and trustworthy.
Elders has lost trust and clients due to its poor financial position over the last five years, and key
to its brand positioning will be to send a clear message that the company is stable, performing
well and sustainable.

In positioning the Elders brand through marketing campaigns, focus should be on the following
key themes:

Quality Service
Exceptional Value
Innovation
Locally based
Reliability

It is recommended that Elders maintain the existing logo, but allow for local representatives to
co---brand and add their name to any local branding opportunities.

Products and services

Elders provides products and services that maximise farming success.

The core products available from its retail stores include:

animal health products,

fertiliser,

agricultural chemicals (pesticides, fungicides), and

fencing.

In addition to these farm supplies products, Elders staff based in the retail stores provide value---
add services such as:

agronomic and horticultural advice, and

livestock production advice,

Livestock agency

Real estate,

Banking,

Financial planning,

Insurance.

One of Elders strengths in comparison to its competitors is its access to a large and extensive
branch network as well as experts in many fields such as banking, financial services, risk
management, agronomy and bio---security. Elders also has access to global live export markets.
One of the challenges facing Elders, however, is how to optimise these networks for the client.
Often, a client will deal with one or two Elders staff and the benefits of the extensive and
knowledgeable networks are not readily available.

Price analysis
The current pricing strategy of Elders is to maintain margins where possible, and not enter
lowest price wars with competitors. Elders pricing for retail products is set through a process of:

Price charged from supplier
Plus expected margin to be gained
Plus consideration of the price that the product can be sold for in the market

= Recommended price

Client status also influences the price charged to the client. However, there is little consistency
applied to this approach nor is there a formal incentive or loyalty system in place. Dowling and
Uncles (1997) suggest effective loyalty systems are those that attempt to lock in a customer by
offering an accumulating benefit, which increases the switching costs to the buyer over time.
With the trend of increasing rural debt, Elders could consider linking a loyalty program to
improved credit terms or other such benefit.

Distribution and Supply

Elders primary sales points to customers is via 220 branches across Australia.

The supply channel is direct from its suppliers to the branches. Prior to August 2013, Elders
utilised three Distribution Centres (DCs) to store product and distribute to its stores. This model
was dispersed following local pricing issues and inefficiencies in moving stock to the DCs and

then out to branches, when in some cases it would be more cost effective to move product direct
from the supplier to the branch.

There is little that is exciting or engaging about the Elders retail experience. Each branch has a
shop front and retail desk with smaller products on display, with a large warehouse to the rear of
the store containing larger products such as agricultural chemicals and fencing products. There is
opportunity to map the client experience and redesign stores to better engage the customer.

The other aspect that could be considered is how female and family---friendly Elders stores are.

Elders recently created an on---line company called Agsure to provide an online presence in the
market. There have been challenges in establishing an alternative, low cost sales channel, with
risk around cannibalisation of existing clients and sales. Agsure have used a strategy of targeting
rural areas without a local Elders branch presence, as well as targeting known non---Elders clients
or lapsed clients. The key differentiation of Agsure on---line to an Elders retail store is that Agsure
purchases are in cash, whereas a walk---in client may be offered credit terms.

Over the last two years Elders has closed 20 branches that were not operating profitably. Whilst
these branch closures have kept Elders Return on Capital at target levels, the closure of
branches has reinforced the perception amongst clients that the company is no longer local.

Marketing Mix 7 Ps

To be successful, a Marketing Plan needs to address some fundamental issues (Chartered

Institute of Marketing 2009), including:

What a company is going to produce

How much it will charge

How it will deliver the products or services to the customer

How it will tell its customers about its products and services

The plan must also consider people, process and physical evidence. Together, these elements are
known as the Marketing Mix. The proposed marketing mix for Elders is outlined in Table 4 below.

Table 4: Elders 7 Ps Marketing Mix

7 Ps
Product

Marketing Mix
Existing:
Animal health products,
Fertiliser,
Agricultural chemicals (pesticides, fungicides), and
Fencing

Potential:
On---line information portal linking clients to key technical experts across the Elders
business
Exclusive and high quality agricultural products, co---branded
Improved credit terms to loyal customers
Existing:
Retail stores --- 220
Online sales channel Agsure

Place

Potential:
Local employee representatives
Upgraded retail store experience

Price

Promotion

Existing:
Medium---tier price, flexible to the type of client
Potential:
Loyalty program to improve consistency of discounts
Potential:
Large---scale print and on---line media to promote and position Elders as financially
stable, sustainable, back in the market and here to stay
Implement community engagement program via branch network to establish local
presence
Existing:
Sales plus training to sales staff
Leadership training to branch managers

People

Processes

Potential:
Train staff in latest technologies, innovations and productivity gains to improve
service offerings
Existing:
Poor information systems
Potential:
Easy access to quality information --- develop an online portal

Physical
evidence

Potential:
Develop on---line information portal to include testimonials

SWOT analysis

The following SWOT analysis for Elders Retail tables the most relevant strengths, weaknesses,
opportunities and threats identified during the External Analysis and Marketing Plan.

Strengths

Weaknesses

1. Elders brand 175 year old company

1. Low client loyalty

2. Extensive network of 220 regional branches

2. Poor ability to access internal skills and

3. Internal expert technical capability and

knowledge
4. Purchase volume for leverage with suppliers

knowledge
3. Lack of investment and upgrades in the
branches
4. Poor service levels

Opportunities
1. Supply chain consolidation
2. Increased use of on---line and internet media
3. Increasing rural debt levels and need for
assistance
4. Efficiency and productivity gains through
innovation and technology
5. Improve local presence

Threats
1. Negative perception of financial
performance and stability
2. Competitor replication, points of parity

TOWS analysis

The following TOWS analysis has been developed from the SWOT analysis and suggests
strategies to take advantage of opportunities and avoid threats.

Opportunities

Threats

Strengths
S4O1 leverage purchasing power and
brand to influence consolidation of
supply chain and negotiate exclusive
supply agreements, offer exclusive /
high quality products to the market
S2O5 implement community
engagement program via branch
network to establish local presence

S1T1 run print and on---line marketing

campaign to show Elders is stable and
sustainable, and here to stay

Weaknesses

W1O3 implement loyalty program
with rewards designed to offer
improved credit terms (lower interest
rates or longer repayment period)
W2O4 Develop online portal to allow
clients access to technical experts for
advice on best practice and other
innovations to improve productivity
W1O5 overcome loyalty issues by
building a local presence through
employing representatives operating
from their own office/location not full
retail model
W4O4 --- Train staff in latest
technologies, innovations and
productivity gains to improve service
offerings
W3T1 conduct observational research
at branches to understand consumer
preferences and needs, and upgrade
the branch experience

Figure 9: Strategy Prioritisation Matrix for TOWS analysis

Quick Wins

Table 5: Decision Framework for TOWS strategies

7Ps
Promotion

Major Projects
Fill Ins
Hard Slogs

Timeframe

Budget

220 x $10,000 =
$2.2m
(year 1)

Promotion

S1T1 run print and on---line marketing

campaign to show Elders is stable and
sustainable, and here to stay

Within 1 month

$200,000
(year 1)

Products

W2O4 Develop online portal to allow

clients access to technical experts for
advice on best practice and other
innovations to improve productivity

Launch on---line
information
portal within 6
9 months

$500,000
development
costs (year 1)

Products

W1O3 implement loyalty program with

rewards designed to offer improved credit
terms (lower interest rates or longer
repayment period)

Launch loyalty
$200,000
program within 6 (year 1)
9 months

Place and
People

W1O5 overcome loyalty issues by

building a local presence through
employing representatives operating from
their own office/location not full retail
model

3 6 months

Assume
additional FTEs
x 50, flexible
remuneration
model
Budget $2.5m
annual cost

W4O4 --- Train staff in latest technologies,

innovations and productivity gains to
improve service offerings

On hold

---

Place

W3T1 conduct observational research at

branches to understand consumer
preferences and needs, and upgrade the
branch experience

On hold

---

Products

S4O1 leverage purchasing power and

brand to influence consolidation of supply
chain and negotiate exclusive supply

agreements, offer exclusive / high quality
products to the market

On hold

---

Budget

Year 1 --- $5.6m

TOWS Strategy

S2O5 implement community engagement Within 1 month

program via branch network to establish
local presence

People

Marketing Objective and Strategies

As specified earlier in the Marketing Plan, the objective for Elders is to gain a further 10% of the
market share, with a 20% return on capital employed, through innovative promotion and
product development strategies. An increase of 10% in market share will bring in an additional
$680 million in revenue to Elders per annum.

Following the SWOT and TOWS analysis, the agreed strategies are:

1.

Promotion (launch)

Conduct a grass---roots marketing campaign focusing on local engagement with the

Elders Branch Network, and a large scale local print and on---line media advertising
campaign to show Elders is here to stay.

2.

Products

Meet clients needs by develop an accessible on---line information portal that easily
provides the advice farmers need, as well as connects them to the technical expert
they require.

To ease the problems associated with high debt, develop a loyalty rewards product
that offers improved credit terms for ongoing business through Elders, and product
bundling.

3.

Place and People

Overcome both capital constraints and build local presence through employing
representatives operating from their own office/location. The local Elders
representative would have flexible work arrangements, would arrange for the
ordering and delivery of stock, arrange expert advice and technical support, and offer
advice on productivity innovations.

With a key focus on themes:

Quality Service
Exceptional Value
Innovative
Locally based
Reliable

Conclusion

Whilst Elders has suffered due to poor financial performance and lack of customer confidence in
recent years, there is also now an opportunity for Elders to capture a significant portion of
market share. Elders is already well---positioned with its extensive Branch Network and highly
skilled workforce and with the implementation of the proposed strategies centered around
Promotion, Product, People and Place, will look to gain a further 10% of the market share over
the next three years. These low to medium risk strategies will improve the perception around
Elders stability and sustainability, as well as build the companys reputation as an innovative and
knowledgeable business partner. Importantly, the campaign will position Elders as local and
reliable.

References

ABARES 2014, Farm performance: broad---acre and dairy farms, 201112 to 201314, viewed 21
December 2014, from <http://data.daff.gov.au/data/warehouse/agcomd9abcc004/
agcomd9abcc004201403/AgCommodities2014.No1_Ver1.1.0.pdf>

ABARES 2014, Agricultural commodities vol. 4 no. 1, March quarter 2014, viewed 21 December
2014, from <http://data.daff.gov.au/data/warehouse/agcomd9abcc004/
agcomd9abcc004201403/AgCommodities2014.No1_Ver1.1.0.pdf>
Ansoff, I 1958, A model for diversification, Management Science, Vol. 4(4), pp.392---414
Australian Bureau of Statistics 2011, 7121.0 --- Agricultural Commodities, Australia, 2010---11,
viewed 21 December 2014, from
<http://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/DBEABB2B7411C9
A6CA257B7B001256EF?opendocument>

Australian Bureau of Statistics 2011, 7503.0 Value of Agricultural Commodities Produced,

Australia, viewed 21 December 2014, from
<http://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/
57DCDF00FF4E6DACCA257A2B0017B0D9/$File/75030_2010---11.pdf> viewed 21
December 2014

Barr, N 2014, New entrants to Australian agricultural industries Where are the young farmers,
Rural Industries Research and Development Corporation, Australia
Business Case Studies, Achieving growth through product development Ansoffs matrix,
viewed 7 February 2015, at <http://businesscasestudies.co.uk/portakabin/achieving---
growth---through---product---development/ansoffs---matrix.html#ixzz3QpZxMQDM>

Carpenter, S and Codner, J 2014, Elders Awareness and Usage Report, Fairfax Agricultural
Research and Marketing, Australia

Chartered Institute of Marketing 2009, Marketing and the 7Ps A brief summary of marketing
and how it works, CIM Insights, Berkshire UK

Chaudhuri, A and Holbrook, M 2001, The chain of effects from brand trust and brand affect to
brand performance: the role of brand loyalty, Journal of Marketing, vol. 65, No. 2 April
2001, pp. 81---93

Dowling, G and Uncles, M 1997, Do customer loyalty programs really work?, MIT Sloan
Management Review, Massachusetts USA

Elders Annual Report, 2014

Minister for Agriculture 2014, Media Release: Production costs highlighted by White Paper
process, viewed 21 December 2014, from
<http://www.maff.gov.au/pages/media%20releases/ production---costs---highlighted---by---
white---paper---process.aspx>

Kotler, P and Keller, K 2012, Marketing Management Global Edition, Pearson Education Limited,
England

Sheng, Y, Zhao, S, Nossal K and Zhang D 2014, Productivity and farm size in Australian
agriculture: reinvestigating the returns to scale, The Australian Journal of Agricultural
and Resource Economics, 59, pp. 1638