When it comes to changing leadership dynamics on the farm, are ag retail and equipment companies ready for what it might mean when it comes to sales and service?
It’s an interesting perspective, as newer — and sometimes much younger — generations move in to the purchasing power positions on farms, how brands establish and maintain customer loyalty is changing.
To discuss these shifting dynamics, RealAg Radio host Shaun Haney spoke with Justin Funk, of Agri Studies, a marketing and strategic research company based at Guelph, Ont.
Funk explains there are several different drivers of brand loyalty. Price has always been an important part in purchasing decisions — the more commoditized a product, the more price sensitive it is, and the more important a business relationship becomes in making that sale.
But many buying decisions are not strictly price driven, Funk says, and the way farmers are making decisions for quite some time. It all comes down to trust, and trust is built on experience. And in the face of so many mergers and acquisitions, farmers are understandably somewhat more cautious when it comes to brand loyalty.
Listen below to hear the entire discussion on loyalty, branding, and sales, as it relates to buying decisions.