Imagine that you set up your own business. Assume that your firm produces a single product. Please discuss in detail whether the market for your product satisfies the basic assumptions of perfectly competitive markets one by one.

Imagine that you set up your own business. Assume that your firm produces a single product. Please discuss in detail whether the market for your product satisfies the basic assumptions of perfectly competitive markets one by one.

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Similar questions

Question: Strengths, Weaknesses, Opportunities, and Threats(SWOT) for a Start up cultural tourism company (baba nyonya). >Full sentence please Extra information on Baba Nyonya; Travel destinations and local food go hand in hand, as they represent the culture of the country. Tourists get more fascinated by the local food. The Baba-Nyonya captivates the tourism industry in Malaysia. The Peranakan Chinese and Malay food of Malacca is said to be the most attractive food, which not only represents the local culture but also the history of the city. The hospitality of the local people is another reason for the popularity of the cuisine.
Assignment: Evaluating Green Peace Scenario William James is a founder of a high-end Environmental protection company called Green Peace. The company did well the first couple of years, but things haven’t been good for a while now. They’re losing money, and William is not sure how much longer they can keep the doors open. As it turns out, William doesn’t have a business plan or basic financial statements. Throughout the course, you will help William with his planning to keep his business running. Preparation In this exercise, you will assume a management consultant role and advise William James on how to prioritize the four primary functions of management—planning, organizing, leading, and controlling— 1. Reflect on the activities and inter-dynamics of the four functions in the context of Green peace. 2. Select the one function that you believe is most critical for William to address and develop a plan for him to address this management gap prior to a 1:1 situation evaluation meeting.
Bill Lewis, manager of the Thomas Electronics Division, called a meeting with his controller, Brindon Peterson, and his marketing manager, Patty Fritz. The following is a transcript of the conversation that took place during the meeting: Bill: Brindon, the variable costing system that you developed has proved to be a big plus for our division. Our success in winning bids has increased, and as a result our revenues have increased by 25%. However, if we intend to meet this year’s profit targets, we are going to need something extra—am I right, Patty? Patty: Absolutely. While we have been able to win more bids, we still are losing too many, particularly to our major competitor, Kilborn Electronics. If we knew more about their bidding strategy, we could be more successful at competing with them. Brindon: Would knowing their variable costs help? Patty: Certainly. It would give me their minimum price. With that knowledge, I’m sure that we could find a way to beat them on several jobs,…
Question 3 Read the following case-based extract regarding Amazon and answer the questions that follow. Amazon Ever since Amazon went online in 1995, the e-commerce juggernaut has undergone a slew of changes – despite being led by the same man, Jeff Bezos, during the ensuing two-plus decades. When the Seattle-based company first launched its website, all it sold was books. Gradually, Bezos and his team expanded Amazon’s offerings to include things like CDs and DVDs. But Amazon never really stopped changing the inventory it sold. 18; 19; 20 2020 © The Independent Institute of Education (Pty) Ltd 2020 Page 7 of 8 Bezos said he wanted his store to become the world’s largest, so he worked hard toward meeting that goal – whether that meant offering new products, launching Amazon Prime, launching Amazon Instant Video ... the list goes on and on. Today, Amazon sells more than 200 million products to customers all over the world. Though for years, Amazon’s detractors insisted that the company…
Question 3 Read the following case-based extract regarding Amazon and answer the questions that follow. Amazon Ever since Amazon went online in 1995, the e-commerce juggernaut has undergone a slew of changes – despite being led by the same man, Jeff Bezos, during the ensuing two-plus decades. When the Seattle-based company first launched its website, all it sold was books. Gradually, Bezos and his team expanded Amazon’s offerings to include things like CDs and DVDs. But Amazon never really stopped changing the inventory it sold. 18; 19; 20 2020 © The Independent Institute of Education (Pty) Ltd 2020 Page 7 of 8 Bezos said he wanted his store to become the world’s largest, so he worked hard toward meeting that goal – whether that meant offering new products, launching Amazon Prime, launching Amazon Instant Video ... the list goes on and on. Today, Amazon sells more than 200 million products to customers all over the world. Though for years, Amazon’s detractors insisted that the company…
Question: What should John do? Case: John is CFO at a venture-backed tech startup with revenues of $20 million and approximately 80 employees. He's worked at the company for several years, and now reports to Ralph, the company's newly hired CEO. The company had been doing really well, but recently big customers have been placing fewer orders and Ralph is feeling pressure to show growth. This pressure is amplified because the company is venture-backed, and the investors expect results. While the company did well in the first round of funding, if they don't perform now, they may have trouble with gaining sufficient funding in the second round, which could mean the end of the company. All of this was on John's mind when Ralph came to him about recording a major order that was still under negotiation. The deal had not gone through, although both parties expected to complete the deal in the next week. With the current quarter ending in the next few days, including this order would give a…
What must plans include if they are to be expressed in measurable terms? Question 15 options: terms such as good, medium, and bad specific expressions of corporate financial objectives a reference to the firm’s well-being quantities and dollar amounts
QUESTION 3Andrew and Simon are prospective entrepreneurs and are soliciting your advice to start their entrepreneurial venture in a profitable industry. Your task is to choose for them an industry you know very well and do an industry and competitive analysis to determine its profitability and advise them accordingly.
Question No: 3 Ayesha, a fundraising manager at a non-profit organization, her responsibility is to: approach businesses, local authorities, trusts and individuals to secure funding. Moreover, organizing and helping with fundraising activities such as sponsored or promotional events. She has a Conscientiousness personality and had experienced a bad incident last year with the public relations manager of a banking company who had committed to sponsor a charity event and then backed out at the last minute. This year, when a renowned international bank’s manager showed interest in sponsoring the Organization’s upcoming annual event, Ayesha rejected their participation. She felt that banks have a casual approach toward charity events and it is risky to involve them in the event. Do you think Ayesha’s attitude and behavior will or will not change over time? Explain Does…
Question 1: In large firms, financial activity is usually associated with which top officer? What are the roles of this top officer?
Which of the following statements is TRUE? Question 19Answer a. The origins of management by exception are generally credited to Frederick W. Taylor. b. The person most responsible for initiating the use of interchangeable parts in manufacturing was Henry Ford. c. The origins of the scientific management movement are generally credited to Henry Ford. d. The person most responsible for initiating the use of interchangeable parts in manufacturing was Walter Shewhart. e. The person most responsible for initiating the use of interchangeable parts in manufacturing was Eli Whitney.
week 3From the scenarios, Erica and Chris have determined their weaknesses after performing a SWOT analysis. However, they have yet to identify opportunities for their business. Determine two potential opportunities specific to their restaurantâ€™s business environment, and discuss how the partners can take advantage of these opportunities.Discuss a situation where you were influenced by an infomercial, attractive packaging, and a discount flyer to purchase a product, and explain why you think the promotional method made such an impact on you.week 4* From the scenarios, we see that Chris and Erica have different communication styles that could potentially have a negative impact on the business. Suggest at least two strategies that these partners can use to improve on these weaknesses, and explain why you believe these strategies would be effective for running the business.From the e-Activity, briefly describe your results from the communication skills quiz. Describe the…