In developing nations, most farmers do not integrate forward, integrating forward would be illustrated here under
Illustration with a Yam farm;
A farmer Plants and nourishes many tubers of yam for a long period, after wadding through much sufferings. He finally harvested. After harvest, middle men comes to his farm and buys off those tubers of yam at a very low price. The farmer is not happy at the returns but is compelled to sell because if he does not sell the product would spoil and getting it to the market himself would be real problem.
On the other hand the fast-food company buys the tubers of yam for a very low price without wasting time, processes the yam and sell at a very high price to final consumers making more money off the yam prune and planted by the patient farmer with little time and energy expended when compared to the farmer`s input.
Selling generic or core products, does not enhance profit, quality and shelf life. As you plan to farm or manage your farm produce, plan to add extra value to your farm produce and you make the most out of them, this can come in different forms.
This scenario cuts across industries. Product or service development, Branding, packaging, etc leads to higher profit and customers loyalty, as it enhances the customers experience with the product or service.
Our deep respect for the land and its harvest is the legacy of generations of farmers who put food on our tables, preserved our landscape, and inspired us with a powerful work ethic.
– James H. Douglas, Jr.
If you find this article educative and inspiring please leave a comment below and if you don`t, constructive criticism would be appreciated for service development. Thanks