Answered: Discuss the impact of Covid19 on the…

Business

Management

Discuss the impact of Covid19 on the economy of South Africa

MARKETING 2018

19th Edition

ISBN:9780357033753

Author:Pride

Publisher:Pride

Chapter12: Developing And Managing Products

Section12.1: Sriracha Heats Up The Hot Sauce Market

Problem 3VC

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Due to inflation in Australia in December 2019, the price for petrol increased from AUD1.35 to AUD 1.45. This caused petrol consumption to decrease from 2500 liters to2450 liters at a 7-Eleven Petrol Station in Sydney.Also, when the price for Hyundai 7.5kW Inverter Split System Air Conditioner (ReverseCycle) increased from AUD 950.00 to AUD 990.00; demand for these air conditionersfell from 2500 units to 2000 units.Following this condition, answer the questions below.i. Using the mid-point formula calculate the price elasticity of demand for petroland Hyundai 7.5kW Inverter Split System Air Conditioner (Reverse Cycle).ii. Is the price elasticity of demand: elastic, unit elastic, or inelastic for eachcommodity (petrol and Hyundai 7.5kW Inverter Split System Air Conditioner(Reverse Cycle)? iii. Suppose the government decides to increase tax for petrol and Hyundai 7.5kWInverter Split System Air Conditioner (Reverse Cycle). Use two diagrams toexplain the incidence of the tax increase for…
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Madison Company is a large manufacturer and distributor of cake supplies. It is based in Chicago(Headquarters) and Trinidad. It sends supplies to firms throughout the United States and the UnitedKingdom . It markets its supplies through periodic mass mailings of catalogues to those firms. Itsclients can make orders over the phone and Madison ships the supplies upon demand.The main competition for Madison’s in the United States comes from one U.S. firm and oneCanadian firm. A British firm has a small share of the U.S. market but is at a disadvantagebecause of its distance. The British firm’s marketing and transportation costs in the U.S. marketare relatively high. 1. Madison Company plans to penetrate either the Canadian market or two other CaribbeanCountries (Jamaica and Haiti). Explain what factors deserve to be considered in deciding which market ismore feasible?
Alice Smith owns a very successful business manufacturing men's clothing. Her business which is located in New York sells to customers throughout the United States. Alice wants to sell her clothing in Germany. She has never before sold her clothing in any country other than the United States.Explain two methods that Alice Smith could use to sell her clothing products in Germany. Discuss the advantages of each method and identify the one method you would recommend that she use and explain why you recommend that method.
Alice Smith owns a very successful business manufacturing men's clothing. Her business which is located in New York sells to customers throughout the United States. Alice wants to sell her clothing in Germany. She has never before sold her clothing in any country other than the United States. Explain two methods that Alice Smith could use to sell her clothing products in Germany. Discuss the advantages of each method and identify the one method you would recommend that she use and explain why you recommend that method.
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