Essays on Microeconomics

Marketing -Is the process of building profitable customer relationships by creating value for customers and capturing value in return -Satisfying customer needs 2 GOALS OF MARKETING •To attract new customers by promising superior value •To keep and grow current customers by delivering satisfaction MARKETING PROCESS …

When glass industry in Turkey is analyzed, it is observed that there are middle and small sized firms, work places at workshop levels in very limited numbers and a dominant producer, Türkiye Şişe ve Cam Fabrikaları Topluluğu. More than 90% of the annual production of …

Currency futures trading started in India on August 29, 2008 on National Stock Exchange. This was the first time currency derivatives got listed on an exchange in India. Till this time, the currency futures trading took place over the counter and were unorganized. With the …

Lately, there have had many fluctuations in clothing markets regarding unusually high cotton prices. The changes in cotton clothing market give us a good opportunity to illustrate the Principle of Market Equilibrium that any time there is an imbalance between supply and demand, economies will …

The perfect definition of a purely competitive market in microeconomics states that there should be specific factors which must be followed in order to guarantee that firms who are participating in the business for companies which are moving in the markets do not have control …

The UK supermarket sector or most popularly known as retail grocery industry of UK is governed by high competition and major market players. Its nature is entirely oligopolistic where the big ‘four’ giants are consistently competing with each other and utilizing their resources most efficiently …

The Market Structures The complete economic activities are handled in four different market structures, namely perfect competition, monopolistic competition, oligopoly and monopoly. The nature and degree of competition varies among the all the above-mentioned four markets. In summarized manner we can describe that as the …

Equality and Inequality Under Perfect Competition The mythical world of perfect wage equality Under certain very strict assumptions, a perfectly competitive market will lead to perfect equality of wage rates. All workers will earn exactly the same. These strict assumptions are as follows: All workers …

The Disembedded economy Why might Polanyi claim that disembedded economies are less stable than embedded ones? Does a market society require a certain level of insecurity for its members? How might people find a disembedded economy empowering? Can there be such a thing as a …

e- Book Series Guide to Writing a Killer Marketing Plan Written by: Steven Fisher Confidential ©2009 Network Solutions, LLC Purpose of this book You are either someone that has been doing marketing as a part of your professional career or you look at as that …

Market economy compared to planned economy in terms of allocating scarce resources By: Habab Mohamed In the purpose of allocating the resources of a certain country, controlling the market flow, adjusting and making the rules and policies to manage the market in addition to the …

Introduction to Managerial Economics Managerial economics (sometimes referred to as business economics) is a branch of economics that applies microeconomic analysis to decision methods of businesses or other management units. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression analysis and correlation, Lagrangian calculus (linear). If …

Question 1 (a)Brands and Products Zalora carries ranges from prices as low as $15 to brands that are more of high end or luxury styles. The brands that they carries exceeds over eight hundred various brands and they are being classified clearly into the various …

Economic Order Quantity and It’s Implmentation in Business Any business man, executive, and entrepreneur should know the basic tools for a company to develop in the market, regardless how big the business is, there are many factors involve. It is very important in every business …

Regardless of aviation traumas that reach far into our industry, air travel remains a large and growing industry. In this intensely competitive yet volatile market, Aviation Technology Consultants draws from its aviation expertise to implement a marketing program to expand passenger base, increase revenue passenger …

Insurance is considered a form of risk management, where a client receives protection from an uncertain loss by an agent for an exchange of payment. An insurance consumer pays a premium amount of payment in order to be protected by an insurance company. Automobile insurance …

What is Marketing : The word Marketing in narrow sense is used as the sum up of selling process. Now a days marketing is considered as managing profitable customer relationships. Hence, we define marketing as the process by which companies create value for customers and …

A company has several major strategies at its disposal, with respect to the width, depth and consistency of its product mix. One major management aspect involved in product policy is the decision concerning product mix. The following strategies are generally employed by the producer or …

Sociocultural Influences on Consumer Behavior. Marketing Trey Hampton September 22, 2012 There are lots of influences that take place on what consumers buy, these influences are called sociocultural influences. Sociocultural influences “involve personal influence, reference groups, family influence, culture, and subculture. ”(Kerin, Hartley & Rudelius …

YSL is not worth 1 billion dollars – as a brand or as a division in Gucci. As a matter of fact, in 1999 the brand (YSL Couture and YSL Beaute) sold 40 million dollars. Gucci, however, as a stand alone division was worth more …

The implementation of NAFTA has led to the liberalization of investment opportunities in Mexico while at the same time removing tariff barriers for international investors. This move has contributed greatly to the success of Wal-Mart since its entry into Mexico’s retail market. This is because …

There is Never Enough of Anything Abstract In this essay I will assess how the role of scarcity takes place in our economy and in our daily life, and also I will describe how different political and economic models have developed to solve the problem …

Micro economic essays These are some suggested micro economic essays. The essays are from different exam boards. In practise they ask similar questions so they will be helpful whatever your exam board. There are different ways to answer questions. But, all these answers contain enough …

Cardinal utility analysis Human wants are unlimited and they are of different strength. The means at the disposal of a man are not only scarce but they have alternative uses. As a result of scarcity of resources, the consumer cannot satisfy all his wants. He …

Porter’s five forces model is a framework for the industry analysis and development of business strategy. Three of Porter’s five forces refers to rivalry from external/outside sources such as micro environment, macro environment and rest are internal threats. It draws ahead Industrial Organization economics to …

The following are the proposals for the firm to be market-oriented. These are: According to M.F.Porter (1990), Market-oriented culture is a form of organizational structure, which covers the whole business and provides greater customer value. It is also known that marketing orientation tends to provide …

OPEC can be described as an oligopoly for several reasons. It fits with the condition of being dominated by more than two large firms; in this case it’s eleven. It also practices price rigidity as they agree on both level of output and therefore the …

Executive Summary Problem/Issues Matt Monkiewicz, director of marketing for Kayem Foods, Inc., is challenged with a decision pertaining to a small but fast-growing product, Al Fresco chicken sausage. The product has become a brand leader in its market niche, and means on how to promote …

Currently, for the selected route, there are shared taxi services which are costly impersonal and may require vehicle transfers, public transportation which is rather inconvenient and unpredictable and limousine/private car service which can also be pretty costly, but nothing in between. City to City services …

Introduction Budget is quantitative expression of future plan of activities. It is a future plan of activities expressed in terms of currency/rupees. It is prepared for a fixed period of time. Advertising budget is a financial document that’s hows the total amount to be spent on advertising and lists the …