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Market Segmentation: Identifying The High-Growth Export Markets For U.S. Agriculture

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  • Reed, Michael R.
  • Salvacruz, Joseph C.

Abstract

A cluster analysis based on a five-year growth rate of agricultural imports from the United States was conducted on 86 countries and revealed two significant market segments for U.S. agriculture: the high-growth markets and the low-growth markets. Multiple discriminant analysis was then used to test the significance of the countries' trade-related and macroeconomic variables to their market growth classification. The discriminant function was used to predict the high-growth markets for U.S. agriculture in 1994. High-growth markets for U.S. agriculture exhibit faster GDP and agricultural import growth rates, are relatively agriculturally self-sufficient, and are near the United States. On the other hand, low-growth markets exhibit slower GDP and agricultural import growth rates, and are geographically distant from the United States.

Suggested Citation

  • Reed, Michael R. & Salvacruz, Joseph C., 1994. "Market Segmentation: Identifying The High-Growth Export Markets For U.S. Agriculture," Journal of Food Distribution Research, Food Distribution Research Society, vol. 25(01), pages 1-8, February.
    • Handle: RePEc:ags:jlofdr:26644
    DOI: 10.22004/ag.econ.26644
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    References listed on IDEAS

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    1. Chambers, Robert G. & Just, Richard E., 1982. "An investigation of the effect of monetary factors on agriculture," Journal of Monetary Economics, Elsevier, vol. 9(2), pages 235-247.
    2. Joseph Salvacruz & Michael Reed, 1993. "Identifying the best market prospects for US agricultural exports," Agribusiness, John Wiley & Sons, Ltd., vol. 9(1), pages 29-41.
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