Minnesota Natural Resource Lives and Livelihoods: Markets

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A brief overview of markets and market form and function for those interested in commercializing non-timber or related forest resources

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Minnesota Natural Resource Lives and Livelihoods: Markets

  1. 1. D. WILSEY MARKETS A LOOK AT CONCEPTS & COMPONENTS © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  2. 2. D. WILSEY MARKETS WHAT IS A “MARKET”? © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  3. 3. D. WILSEY A MARKET IS ONE OF A VARIETY OF... ...SYSTEMS, INSTITUTIONS, SOCIAL RELATIONS, PROCEDURES, AND INFRASTRUCTURES... ...THROUGH WHICH... ...GOODSAND SERVICES ARE EXCHANGED © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  4. 4. MARKETS TAKE MANY FORMS
  5. 5. D. WILSEY SCOPE TIME +LOCATION(S) +SEASONALITY +TRENDS SCALE FORMALITY STRUCTURE © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  6. 6. D. WILSEY SCOPE LOCAL REGIONAL NATIONAL CAN DISTANCE TRANSFORM “COMMON” INTO “NOVEL”? IS THAT GOAL NECESSARY? FEASIBLE? INTERNATIONAL © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  7. 7. D. WILSEY SCALE NICHE 500 BOWLS/YR SOME CONSIDERATIONS: COMMODITY -MARKET ENTRY 100,000,000 BF/YR -PROFIT/UNIT -SCALING UP/DOWN © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  8. 8. D. WILSEY TIME TREND SEASONALITY AGGREGATED 80 60 40 Greens 20 0 Q1 Q2 Q3 Q5 Q5 DISAGGREGATED * VALUES ARE NOT REAL Balsam Cedar © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  9. 9. D. WILSEY STRUCTURE SUPPLIER : (END) CUSTOMER INTERACTION: DIRECT - (USUALLY) MULTIPLE, DIRECT CUSTOMER CONTACTS (EX: FARMER’S MARKET) INDIRECT - (USUALLY) ONE OR FEW CONTACTS WITH INTERMEDIARIES (EX: BOUGH BUYER) MIXED - THESE STRUCTURES CAN BE COMBINED! © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  10. 10. D. WILSEY FORMALITY FORMAL... ... ...INFORMAL GOVERNED / LAWS “NORMS” CONTRACTS TRUST / RELATIONS TAXES “UNDER THE TABLE” RECOURSE “SELLER/BUYER BEWARE” LEGAL LEGAL OR ILLEGAL © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA
  11. 11. D. WILSEY OPERATE AT THE SPECIFIC ... BUT UNDERSTAND THE HOLISTIC © 2010 REGENTS OF THE UNIVERSITY OF MINNESOTA

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