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Price is Only One Thing Customers Shop For

September 18, 2012 | Posted in Operations & Finance
In the past few weeks I've begun hearing from some dealers about how the major farm equipment manufacturers seem to be getting "pretty aggressive on pricing,"? as one dealer put it. That's code for they "are cutting prices for any number of reasons,” gaining market share, reducing inventory, whatever.
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Business of Selling

Why Sales Compensation Based on Gross Margin?

By Dr. Jim Weber posted on September 5, 2012 | Posted in Operations & Finance
While previous articles is this series have addressed the two most prevalent types of sales personnel compensation — salary and cash difference — this column focuses on a system that is not used as frequently, yet should yield significantly greater results. It is a sales compensation system based on the equipment gross margin.
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To The Point: The Risk-Reward of Farming

By Dave Kanicki posted on September 5, 2012 | Posted in Operations & Finance
Since much of what we're reading these days is about the drought of 2012 and its impact on commodity prices and ultimately its effect on food prices, I am reminded of the risk-reward tradeoff I learned about back in my college days. It makes me wonder why no one pays much attention to the risk? side of the equation. According to the risk-return tradeoff, you must spend money to make money. Or more correctly, it says reinvested money can render higher profits only if it is subject to the possibility of being lost.?
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Special Report

Beyond Breakeven by Insuring Crop Profits

September 5, 2012 | Posted in Operations & Finance
As many U.S. senior citizens have learned about health insurance, Federal Medicare benefits help, but it's only a start in covering the big? costs involved with medical care. Most find that supplemental insurance is a must. Farmers are finding the same is true with Federal crop insurance. In a really bad year -- or even just a challenging year -- supplemental weather insurance can mean the difference between staying afloat and actually sailing all the way to the bank.
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Special Report: Weather

Weather Patterns Affect Farmers' Equipment Purchasing Decisions

September 5, 2012 | Posted in Operations & Finance
According to a recent survey of U.S. farmers, two-thirds of them believe the weather is becoming more volatile throughout the major growing regions of the U.S. As a result, some farmers are purchasing equipment they believe will help them adapt to the changing weather patterns. At the same time, some farmers say they delayed equipment purchases due to the drought this year.
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Special Report: Weather: Battling Drought with Systems-Based Approach

September 5, 2012 | Posted in Operations & Finance
The combination of biotech traits, genetics and agronomic practices all work together to help mitigate drought risk, according to Chan Mazour, director of Monsanto's Gothenburg Water Utilization Learning Center. "Something like 90% of the country will experience drought at some point during the growing season,"? he says. "If I was a farmer, my strategy would be to make every good decision I can from genetics, biotech and an agronomic standpoint to protect myself as much as possible if drought sets in."
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