Are we being ripped off by a bunch of middlemen

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Reference no: EM131414693

The TV reporter for a network news shows is walking through a cornfield with a downtrodden-looking farmer in downtown Iowa. As they continue through the field, the farmer comments: "My family and I have worked real hard over the years to produce a good crop, but we hardly get much of a price for it. But when I see how much they want for corn and just about any corn products in the supermarkets, I can't believe it. The consumer is paying a high price while I'm getting a very low price, so somebody must be making a lot of money in between." The reporter then turns to the camera and in a melodramatic style intones: "As you've just seen, we've talked with a framer who, in spite of all his hard work, can hardly make a living. But you and I both know how high prices are in the supermarkets. Are we being ripped off by a bunch of middlemen?"

Comment on the farmer's lament to the reporter and the reporter's remarks to the TV audience in light of revelant channel concepts discussed in this chapter. ex: the multi channel challenge, the marketing channel, specialization and division of labor, and contactual efficiency.

Reference no: EM131414693

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