A Subjective Consideration of Agricultural Future Productivity: The Study by a Proposed Model
Tushar Ranjan Sahoo *
Post Graduate Department of Business Administration, Sambalpur University, Odisha, India
Saroj Kumar Sahoo
Post Graduate Department of Business Administration, Sambalpur University, Odisha, India
Biswajit Satpathy
Post Graduate Department of Business Administration, Sambalpur University, Odisha, India
*Author to whom correspondence should be addressed.
Abstract
Agriculture is the backbone of Indian economy. Agriculture is not only important in economic point of view but also has subconscious influence on social, political and cultural life. So many researchers have accomplished their study related to the price determinants of agricultural product, but rare researcher worked on ‘consumption pattern’ as moderated ‘price determinants’ and ‘perception toward future productivity’. By the informal discussion with farmers’ it has been judge that there is a great role of farmers’ and firm owners’ psychology on the future productivity. So, these research issues are addressed in current study that are from the aim of study as follows-
Aim: Aim of study is to find out the relationship between ‘price of agriculture product’ and its determinants, influence of ‘price determination’ on ‘perception towards future productivity’ and the moderation effect of ‘consumption pattern’ on the relationship between ‘price determination’ and ‘perception towards future productivity’ of agricultural products.
Study Design: Descriptive research design applied to study. The relevant literature laid down relation between price determinant of agricultural product and future perception of agricultural product.
Methodology: The study based on logical relationships developed through a proposed model. The model refers to moderated mediation effect on the relationship between determinants of price and perception towards future productivity through consumption pattern and price determination of agricultural products. The model has proposed purely based on available literature and the determinants of price are identified from past research works and studies.
Results: Perception towards future productivity is a logical consequence of price determination process, which is influence by various controllable and uncontrollable factors. The consumption pattern acts as moderator between production-perception and price determination process of agriculture products.
Conclusion: Estimating the future production of agricultural products by determinant of price and with the traditional methods is not sufficient in today’s dynamic market scenario; the psychological aspect of the future production is a must requirement to estimate the future production, which ultimately becomes the input for planning and strategy.
Keywords: Determinant of price, price determination, consumption pattern, perception towards future productivity