Pick two stages in the household life cycle. Describehow your marketing strategy for the following woulddiffer depending on which group was your primarytarget market.a. Minivanb. Razorsc. Broadway showd. Casino
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Pick two stages in the household life cycle. Describe
how your marketing strategy for the following would
differ depending on which group was your primary
target market.
a. Minivan
b. Razors
c. Broadway show
d. Casino
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- In evaluating marketing actions, what are the two dimensions on whichthey should be evaluated?As you review the Facebook site, you note that packagingfor your company’s bread uses the words “heart-healthy.”Would you bring this to the attention of the marketing groupresponsible for product packaging? Or would you look fora way to obscure the package design online? Defend youranswer.Explain the type of pricing strategy that you as the manager of a company would implementfor Good X and Good Y with the following price elasticity of demand co efficients. Usediagrams to motivate your answer.a). Good X: 2.3 b). Good Y: 0.6
- Discuss the different types of markets. what are the key forces driving the new marketing realities?Suppose that the manager of a donut shop tellsyou that he sold 220 donuts today, for a total revenue of $220 and average revenue of $0.90. What’swrong with this story?Becasue of the housing bubble, many houses are now selling for much less than their selling price just two to three years ago. There is evidence that home owners with virtually identical houses tend to asl for more if they paid more for the house.What fallacy are they making?
- MIcro: The company “Mike Broonie” operates in the market of monopolistic competition. Just now, the company weekly produces and sells 100 units of pillows for £12 each. The average total cost to produce the pillows doesn’t depend on the output, being £10 per unit. Having evaluated the price elasticity of demand for its product, the company concluded that demand is inelastic at the moment. a. What indicator characterizes the price elasticity of demand? What formula (or formulas) one can use to calculate this indicator? Choose any number for this indicator that, under the conditions specified in the case, could characterize the price elasticity of demand for the company “Mike Broonie”. b. Imagine that the owner of the company wants to increase the price of the company’s product. How will it affect sales, revenue, and profit (will each of these indicators increase, decrease, or remain the same)? Give here theoretically substantiated forecast. To increase the number of points…Week #8 Assignment: 2. Sub-subje Monopolistic Competitor What is the profit - maximizing output level? What is the firm's proft - maximizing price? Is this firm productively efficient? Will the firm eam a profit or loss at the profit - maximizing output level? How much is that profit or looss? Based on this information, do you think fims will enter or exit this industry? Why or whynot?Describe the difference between an everyday low price strategy (EDLP) and a high/low price strategy
- (Short-Run Profit Maximization) A monopolisticallycompetitive firm faces the following demand and coststructure in the short run: a. Complete the table.b. What is the highest profit or lowest loss available tothis firm?c. Should this firm operate or shut down in the short run?Why?d. What is the relationship between marginal revenue andmarginal cost as the firm increases output?You are hired as a consultant to a monopolisticallycompetitive firm. The firm reports the followinginformation about its price, marginal cost, andaverage total cost. Can the firm possibly bemaximizing profit? If not, what should it do toincrease profit? If the firm is maximizing profit, is themarket in a long-run equilibrium? If not, what willhappen to restore long-run equilibrium?a. P < MC, P > ATCb. P > MC, P < ATCc. P 5 MC, P > ATCd. P > MC, P 5 ATCSuppose Abercrombie & Fitch sells clothing in a monopolistically competitive market and that a farmer sells oranges in a perfectly competitive market. Part 2 1.) Use the line drawing tool to draw the type of demand curve likely faced by Abercrombie & Fitch. Label this lineDAF. 2.) Use the line drawing tool to draw the type of demand curve faced by an individual orange farmer. Label this line DOranges.
