Applied Economics Teaching Resources

an AAEA Journal

Agricultural and Applied Economics Association

Case Study

Renaissance Ag: Identifying the Who, How, and Where of Marketing a New Technology

Chanden Westover(a) and Tanner McCarty(a)
(a)Utah State University

JEL Codes: JEL Codes: Q12, Q13
Keywords: Feed, hydroponics, marketing, strategy, target market

Publish Date: February 23, 2024
Volume 6, Issue 2

View Full Article (PDF) | Request Teaching Notes/Supplemental Materials

Abstract

This case study explores the marketing decisions facing an agricultural technology company in Utah. Renaissance Ag recently developed a technology that converts shipping containers to hydroponic feed production systems. One shipping container produces 1.5 tons of livestock feed per day and requires less water compared to conventional agriculture. This technology has promise in a world food system being constantly forced to produce more with less. However, promoting adoption of new technologies in agriculture is always challenging. Renaissance Ag’s long-term viability is dependent upon efficiently channeling its limited marketing budget toward regions and agricultural sectors likely to receive the largest benefit from their technology. This case study challenges students to conceptualize and quantify the trade-offs associated with selling in different markets. It also has them consider impacts of different payment structures on equipment sales. The intended audience for this case is freshman and sophomore students in agribusiness and agricultural economic programs.

About the Authors: Chanden Westover is a Masters Student at Utah State University. Tanner McCarty is an Assistant Professor at Utah State University (Corresponding Author Email: tanner.mccarty@usu.edu)

Copyright is governed under Creative Commons CC BY-NC-SA

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Articles in this issue

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A Case Study on the Home Cooking Movement—Legalization, Market, and Competition
Suraj Gurung, Jonathan Ritacco, Lijun Angelia Chen and John Lai

Expanding Beyond Case Studies in Postgraduate Agribusiness Teaching to Enhance Experiential Benefits and Student/Teacher Outcomes
Alexandra Peralta, Craig Johns, and Adam Loch

Minority-Owned Agricultural Businesses and Challenges with the Paycheck Protection Program: Seeking Ways to Reach Farmers
Kevin Kim, Ana Claudia Sant’Anna and Iryna Demko

Applied Economic Models of Commodity and Input Markets to Assess Prices, Quantities, Farm and Other Input Supplier Impacts, and Consumer and Taxpayer Costs
Joe Dewbre, Wyatt Thompson, Sera Chiuchiarelli

Renaissance Ag: Identifying the Who, How, and Where of Marketing a New Technology
Chanden Westover and Tanner McCarty

Risk Management Education for Executives in the Food and Agriculture Industry
Emily Garwood and Brian K. Coffey

Teaching The Economics of Corporate Social Responsibility: A Mixed Motive Bargaining Simulation Game
Anukul Bhattari and George C. Davis

Demand Dashboards: Interactive Tools to Communicate Consumer Behavior
Justin D. Bina and Glynn T. Tonsor

Undergraduate Research in the Andes: Overcoming Barriers to Developing-Country Farm-Household Focused Analysis

Undergraduate Applied Microeconomic Research with Demographic and Health Surveys
Seth R. Gitter, Chris M. Boyd, and Raissa Abbasi

Dare to Experiment: The Synergistic Relationship Between Undergraduate Research and Experimental Economics
Carl Nelson-Poteet , Lusi Xie, Kent D. Messer, and Leah H. Palm-Forster

Creating and Implementing Undergraduate Research Experiences: An Example for Analyzing the Size, Structure, and Performance of U.S. Food Manufacturing Industries
Yuliya V. Bolotova, Luke Juffer, Haylie Moore

Integrating Mixed Methods and Service-Learning in Undergraduate Education in Applied Research Methods: A Course Preparing Students to Address Complex Social Issues
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FIRE Sustainability Analytics: An Innovative Approach to Engaging Undergraduate Students in Economics Research
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Engaging Undergraduate Students in Research: From Cross-Discipline Programs to Published Articles
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