Market Segmentation of Today’s Agricultural Borrower

Changes in U.S. agriculture have yielded a diversity of farm types. These changes have extended beyond the farm business and into the farm household. The objective of this paper is to discuss the policy implications of a new typology of U.S. farm households that is based on household economic theory. Using the 2003 Agricultural Resource Management Survey and statistical analysis, six mutually exclusive groups of U.S. farm households are identified as the U.S. Farm Household Typology. This typology is then discussed relative to its financial characteristics, credit needs, and the development of a customer-driven marketing strategy for agricultural lenders.

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 Record created 2017-04-01, last modified 2018-01-22

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