The five forces framework developed by Michael Porter is the most widely known tool for analyzing the competitive environment, which helps in explaining how forces in the competitive environment shape strategies and affect performance. The framework suggests that there are competitive forces other than direct …
Draw the marginal cost curve (MAC) and the average total cost (TACT) curve for a Type 1 mine. Your curves should be as neat as possible, but they do not have to be absolutely, perfectly precise. You should, however, clearly label each curve. MAC would …
In today’s fierce market it is important for corporations to go global. This isn’t an easy task as it takes a lot of careful planning and research in order to be successful at an international level. The competition can come from local companies to others …
In early sass, the University of California at Davis shifted its research to fruit growing and renamed its viticulture department to be the “Department of Fruit Studies”. The Wine Institute, a trade association of 48 California wineries, was founded in 1934 in San Francisco to …
Strategic Marketing Management Sample Exam Questions Question 1 Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource …
Summary report What is marketing channel? Are sets of interdependent organizations involved in the process of making a product or services available for use or consumption? They are set of pathways a product or service follows after production, culminating in purchase and use by final …
Chapter 14 Firms in Competitive Markets Multiple Choice 1. A FIRM HAS MARKET POWER IF IT CAN |a. |maximize profits. | |b. |minimize costs. | |c. |influence the market price of the good it sells. | |d. |hire as many workers as it needs at …
The Price elasticity of demand measures the responsiveness of the quantity of goods sold to the changes in the product’s price. When the percentage change in the sales is more than the percentage change in the price of the product, the demand for the product …
What has been happening to the exchange rate of the US$? Give reasons. How is the exchange rate of a currency determined? If the value goes down will that help or hurt the trade deficit? This year, the US dollar continued its long-expected slide. The …
Is Monopoly necessarily less efficient than Perfect Competition According to SJ Grant’s Introductory Economics, Monopoly is the only sole supplier of the industry. They would not inherit any competitions as well as having no close substitutes. There are many reasons that cause the formation of …
Introduction and Company Background Tesco PLC is the largest British retailer in terms of both global sales and domestic market share with profits that exceed ? 3 billion. Currently, the company is the third largest after Wal-Mart and Carrefour in terms of revenue but only …
The product is available in department stores and direct channels. It has been strongly promoted by trade press and social media. Clarions is placed at the premium tier and thus beyond the affordability range of many consumers particularly during the economic downturn. Despite this the …
Introduction The study of economics is divided by the modern economists into two parts biz. Micro economics and Macro economics. This division is shown in the chart above. Micro economics and Macro economics, both the terms were used in 1933 by Proof. Raglan Frisks from …
Dabber India Limited has marked its presence with significant achievements and today commands a market leadership status. They have a strong financial year on year. Compare to last year some financial facts about dabber : Total sales were recorded as INNER 7073 scores and up …
Analysis Executive Summary Daiso’s stores is a store where you can buy all thing with just 2 Singapore Dollar. Daiso provide a unique experience of curiosity and enjoyment for thousands of customers to go home satisfied, not only in Japan, but also all over the …
The bid price is the most important factor that is used to determine the successful bidder in a competitive tender. Sometimes the bidder submits a high enough bid price that the bidder can make a profit, but he loses the job. Sometimes the bidder submits …
The conditions for a monopolistic market are as follows: there is only one firm, which is large in size. The firm has to provide the market’s supply, and there are high barriers to entry. There are no close substitutes for the goods the monopoly firm …
Listo Systems is a graphic service agency with a long history of success. In the early 1990s, the company quickly grew into one of the top graphic service companies in the world. The rapid growth of technology in recent years has both helped and hindered …
Competitive analysis It is the vital part of marketing its purpose is to determine the strengths and weakness of the competitors within the market. Porter’s five forces analysis for swatch can be interpreted as follows, New entrants Strong brand reorganization and customer loyalty- swatch is …
INTRODUCTION Planning enables organization to know how to direct their resources towards attaining set objectives. Marketing plan thus involves the setting of marketing objectives and targets and directing the organization’s resources towards the attainment of those set objectives. For Akzo Nobel it is an international …
The rationale of this report is to examine the various categories of goods and to briefly discuss their descriptions. In economics, a public good and a private good are differentiated in terms of non-exclusion and non-rivalry. This implies, respectively, that utilization of the product by …
The model of Baumol is a management technique used by many by companies especially in determination of optimal use and availability of the limited resources through competitive pricing and desirable output levels so as to maximize revenue. According to Gaffney, the Baumol model allows business …
Alternatives and options A) Discuss the pros and cons to launching the foxy brand in the United States. Foxy originals was well known name in the Canadian market. To expand its business, it decided to launch the brand in a new and broad market of …
As (product, rice, promotion, and place). Mullions, 2010) Accessible: The segmentation criteria should measure or describe the segments clearly enough so that members can be readily identified and accessed, in order for the marketer to know whether a given prospective customer is or is not …
The Marketing Environment Introduction Organizations are surrounded by laws, competitors etc which are marketing environment Marketing policy operates within a rapidly changing environment External factors must be monitored and responded to SST Pall’s Cathedral Major tourist attraction, also a church at the same time Needs …
Marketing includes planning, organizing, directing, and controlling the decision-making of a company regarding product lines, pricing, promotion, and servicing (Marketing, 2004). Comprehensive planning is important in marketing, thus a marketing plan is an important output of the marketing process. (more…)
Niche marketing is a very important marketing tool that is defined as “focusing on sub-segments or niches with distinctive traits that may seek a special combination of benefits (Kotler & Armstrong, 1997) Niche strategy or sometimes-called focus strategy is a marketing segmentation strategy that concentrates …
The case Analysis Outline Introduction- Brief summary of the firm, officers, industry and location Problem identification: major problems to be resolved-use the 4ps model Swot Analysis: strengths: weakness: opportunities: threats Alternatives: strategic choices-solutions to the problems identified Analysis of alternatives: cost/benefit analysis of the solutions. …
Physical Distribution is smooth and efficient flow of a company’s products through the channels of distribution that is from producer to the end-user. It includes the vital operations such as material handling, warehousing, order processing, inventory management, and transportation. It is important to Wal-Mart’s marketing …
Introduction Government expenditure plays an important role in determining the changes in the level of national income; providing the right needs for potential output and sustaining the welfare of the economy. Government spending can determine the changes in the level of national income to a …
Topics
Common topics are supply and demand, elasticity, opportunity cost, market equilibrium, forms of competition, and profit maximization. Microeconomics should not be confused with macroeconomics, which is the study of economy-wide things such as growth, inflation, and unemployment.
Focus
Microeconomics focuses on supply and demand and other forces that determine price levels in the economy. It takes a bottom-up approach to analyzing the economy. In other words, microeconomics tries to understand human choices, decisions, and the allocation of resources.
Principles
Microeconomics uses a set of fundamental principles to make predictions about how individuals behave in certain situations involving economic or financial transactions. These principles include the law of supply and demand, opportunity costs, and utility maximization. Microeconomics also applies to businesses.
Microeconomics books
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