Introduction
Economics is the production of goods of consumption and wealth transfer, production and access to research these goods. Market economics to explain how people interact to get what they want or to accomplish specific goals. Since economics is the driving force of interpersonal communication, study it often reveals why people and government's behaviour in a particular manner (What is Economic, n.d.).
Coca-cola and 100 Plus are the substitutes goods. Substitutes are the two good use with the same purpose and if the price of one increase another good of the demand also increases.
Coca-cola
Coca-Cola's history began in 1886, when Atlanta pharmacist John Pemberton Dr. S., curiosity led him to create a unique tasting drink that can be
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However, the brand behind the company's management believes that the potential of the product, and stuck with it. The company tirelessly continue to invest resources, time and effort to build the brand, to promote the advantages of 100PLUS who are familiar sports isotonic drinks.The company's foresight, vision and tenacity finally paid off. As more and more people began to focus on health, consumer preferences shift significantly associated with the occurrence of a healthy beverage alternatives (100PLUS, …show more content…
3. Price
The company is the production and pricing policy terms highly interdependent with each other. Thus, oligopolistic companies do not change the price, but their performance non-price competition.
4. Non-price competition
(a) Advertising
(b) Sales and promotion
(c) Services after sales
(d) Product development / differentials Different between perfect competition and imperfect competition
Perfect competition is a competitive market, where there are numerous sellers many buyers sell homogeneous products or services. Imperfect competition is an economic structure, competitive conditions are not completely fulfilled (Surbhi, 2015).
So Coca - cola and 100 plus is the perfect competition, because both are the large number of buyers and sellers, and sellers to provide buyers of the same product. It is a hypothetical situation that does not exist in the real world applicable and there are many players in the market. Both also are the Seller production or offer the same products. Last both are price takers because both are assumes that the company will not affect the price of the
Coca-Cola- In May 1886 John Pemberton invented a drink, Coca-Cola, by accidentally stumbling on the right combination of ingredients while trying to devise a cure for headaches. Pemberton was an experienced maker of patient medicines, which were hugely popular in America in the late nineteenth century. The name was coined by one of Pemberton’s business associates, Frank Robinson. He also contributed to the promotion of the drink by sending out tickets for free samples and putting up posters and banners that read “Drink Coca-Cola, 5c.” Robinson also developed the famous logo for Coca-Cola, which appeared in newspaper
5.(Market Structures) Determine whether each of the following is a characteristic of perfect competition, monopolistic competition, oligopoly, and/or monopoly:
(1)Perfect competition is the market in which there is a large number of buyers and sellers. The goods sold in this market are identical. A single price prevails in the market. On the other hand monopoly is a type of
Coca-Cola Company history originated in 1886 when the “curiosity of an Atlanta pharmacist, Dr. John S. Pemberton, led him to create a distinctive tasting soft drink that could be sold at soda fountains” (Coca Cola History, 2013, para. 1). He generated flavored syrup, took it to his
Perfect competition is one degree of competition that a company and its competitor may try and compete in because it is considered relatively small in the private enterprise sector of a business. There are conditions that must be met in order for perfect competition to happen they are: all firms in the industry must be small, and the number of firms in the industry must be large.
John Stith Pemberton, a pharmacist and “cash-strapped morphine addict,” created Coca-Cola in 1886. He used a French wine called Vin Mariani as his product to replicate. Coca-Cola was different because it was water-based, not wine-based, and included kola nut, caffeine, coca leaf extract, and sugar. It was originally sold as a medicine, a “brain tonic” that “Cures Morphine and Opium Habits and Desire for Intoxicants.” Later broke and ill from his stomach problems and morphine addiction, Pemberton sold the patent to Coca-Cola to Asa Candler, who later officially created The Coca-Cola Company.
big market share, such as Pepsi Cola, Mt.Dew, and so on. I like to drink Coke
Coca Cola is bestselling soft drink in the world. It has introduces various product like sports drink, water, juices, sparkling beverages and energy drinks. It has gone through several innovations from products to packaging. In May 1886 Coca Cola was invented by Dr. John Pemberton, a pharmacist from Atlanta, Georgia, registered trademark in US as Coke since 1944. Company sells its product at gas station, supermarket, vending machines and at most fast food restaurants like Mc Donald and Subway. Its widely availability has made its customer’s first choice leading to brand loyalty.
The Coca-Cola organization has made exemplary strides mainly to offer a variety of products to its clients even with the competitive nature of the market. Consumers’ choice gets based on the brand aspect in which the organization wins most customers' heart against its rivals. Even though a significant number of people deny cases to having inclination picking between Coca-Cola items or its rivals', many have a strong desire in some way. Many inclines toward Coca-Cola products since the organization has more than hundred years of history and predictable brand image. This picture is engraved in a lot of people subsequently end up purchasing their beverages. It is out rightly conspicuous in the company’s high market share in the field of soft drinks.
Coca-Cola was invented by John Pemberton the Coca-Cola Company began in 1886. With more than 1.9 billion consumers a day, in more than 200 countries, Coca-Cola is dedicated to being the world’s largest beverage company by maintaining and gaining customers. Customer preference is a core value to coke. Coke has dedicated itself to meet the thirst needs of every customer. They engage with their customers at home, restaurants, sporting events. Almost everywhere customers go, they can find a coke product. They build their top line growth and capital efficiency through investment in FIFA World Cup, “Open Happiness” global campaign, and have many worldwide partners, increasing their business nearly 5% every year by creating a diverse customer base.
The history of Coca Cola began in 1886 when Dr. John S Pemberton, an Atlanta pharmacist created a tasty soft drink which could sell at soda fountains. Since then, Coca Cola grew to be a global brand and touched great heights. Today, it sells across 200 countries and is just as popular across all the markets and nations. The company today, owns or licenses and markets more than 500 non alcoholic beverage brands. The brand has only few major competitors in the global market. The daily servings of coca cola are estimated to be at 1.9 billion globally. (Coca-Colahellenic, n.d.) This is just another proof of the popularity of the brand which has a very large and diversified
Economics are a study of society that help you decide how you should do things. You get to study individuals, groups of people, and organizations in these studies. They show how they work and also how they affect the economy of the places surrounding.
A perfect competition structure has zero entry barriers with a lot of firms. This means it has a large number of competitors, with
The Coca - Cola Company began its legacy in 1886. Dr. John Pemberton, a pharmacist from Atlanta, created the patented Coca - Cola syrup for sale in fountain
One step away from perfect competition is monopolistic competition. This type of market structure has a number of different characteristics from the above. Which turn it into one of the most used market structures. In this scenario, companies are not all price takers and start making use of economies of scale in order to improve efficiency, reduce costs and increase profits. In the scenario companies sell a differentiated product at different prices. Like in perfect competition no barriers are put to entry and newcomers a constant threat to the market keeping every player always in search for a better mean to produce and compete.