The Influence of Marketing Theory and Practice on Supply and Demand Forces in Turkana’s Livestock Markets: A Case of Kakuma, Lokichar and Kalemng’orok Secondary Markets
The study of the influence of marketing theory and practice on supply and demand forces in selected secondary markets in Turkana aimed to demonstrate the relationship between market forces and the role of theory and practice in achieving a balance between them to improve livestock production and marketing activities.Participants in the study included 168 active livestock traders from the Kakuma, Lokichar, and Kalemng'orok livestock markets, as well as 24 government and civil society professionals who support livestock development programs in Turkana.The study discovered that, while livestock trading occurs daily in Turkana and livestock traders can be found in all market categories, it is unclear whether the available livestock in the area is sufficient to sustain the supply and demand for livestock and products for local and external markets.While most animals taken to the market by herders are purchased by traders, such purchases remain for an extended period before being sold, putting traders' business capital resources at risk.Prolonged drought, insecurity in potential livestock production zones and along trade corridors, livestock diseases, market volatility, and high living costs are among the primary challenges impeding the viability of livestock production, marketing, and consumption of animal products in Turkana.Affluent external traders, although being potential market entrants, outcompete local traders and thus dominate local marketplaces.The study also found that the theory and practice tenets are not used in the modeling of livestock production and marketing interventions in Turkana.As a result, the programming of livestock development does not rely on strong and competitive business models.The absence of theoretical and practical underpinnings complicates the management of internal and external market forces.This condition is due to an imbalance in supply and demand in markets, which results in disorganized livestock trading and minimal profits for farmers and traders.The study highly suggests using a theory and practice framework when modeling livestock development programs and determining the relationship between supply and demand, which are also identified as important subjects for future research.
Publication Details
- Journal
- International Research Journal of Economics and Management Studies
- Published
- 2024-12-30
- DOI
- https://doi.org/10.56472/25835238/irjems-v3i12p103
- Primary Topic
- Agricultural Economics and Practices
- Type
- article
- Field-Weighted Citation Impact
- 0.00