The first era in marketing was a focus on producing as much as possible because of high demand. This was termed the was followed by the selling era, the marketing concept era and finally the customer relationship era. era which
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- A substantial increase in buying power is a contemporary marketing phenomenom that has to be contended with marketes. Using a sector of your choice, explain how you will manage the situation.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…What could McDonald’s do to create barriers that would prevent others from entering the markets and would make it harder for remaining hamburger shops to remain in the market? The third question assumes the previous 2 questions I submitted were answered. in order to answer this question, you need to know the marginal revenue and marginal costs. + how much should McDonald’s charge for its hamburgers to maximize profit? McDonald’s Quantity Variable Costs Fixed Costs Total Costs Price Total Revenue Profit Marginal Costs Marginal Revenue 1,000 500 5,000 5,500 4.00 $4,000 -1,500 2,500 1,000 5,000 6,000 3.50 $8,750 2,750 0.33 3.17 4,000 1,400 5,000 6,400 3.00 $12,000 5,600 0.27 2.17 9,000 2,400 5,000 7,400 2.00 $18,000 10,600 0.20 1.2 13,000 3,400 5,000 8,400 1.00 $13,000 4,600 0.25 -1.25…
- Ellen publishes a book titled "First Place", which included a chapter from Frank's copyrighted book "Great Racear Drivers" without his permission. Ellen's use of the chapter is actionable regardless of whether consumers are confused or Ellen and Frank are competitors only if the consumers are confused only if Ellen and Frank are competitors only if consumers are confused and Ellen and Frank are competitorsSuppose, Pfizer Company is the only company allowed by the Sultanate government to sell COVID vaccine in Oman. According to you, what type of market Pfizer Company is having in Oman? a. Monopoly market b. Monopolistic market c. Competitive market d. Oligopoly marketIn recent years bubble tea has become a craze among Singaporean consumers, leading tomany new firms entering this market either as new Singaporean startups or as establishedfirms from aboard. There are now over 50 competitors in Singapore each of which sell theirown variations of bubble tea with different flavours, colours, ingredients and packaging.Using the theory and models of market structure, examine this industry. Should governmentbe worried about any aspect of how an industry with this market structure will perform?
- Please give a brief explanation. Thankyou. Define cause marketing in the context of a nonprofit organization’s earned income strategy. What are advantages and disadvantages of this earned income strategy? Please provide example too.King of HeartsThe King of Hearts, a neighborhood pub in a small midwestern town, is owned and operated by Mags Doherty. Since it opened in 2001, annual sales have increased from $200,000 to $500,000. She carries a wide selection of domestic and imported beers. She reports that 55% of her sales are derived from beer, 30 percent from mixed drinks, and the remainder from menu items such as sandwiches, French fries, and potato chips. Many customers have asked Mags to add pizza to her menu. She would have to spend $8,000 for an oven and $4000 for dishes. The ingredients in a typical pizza would cost $10.00 and the additional labor expense per pizza would be $0.80. The utilities involved in preparing each pizza would be $0.20. She would sell a pizza for $21.00.QuestionsWhat is her breakeven point in units and dollars? Show your calculations. Assume she sells 100 pizzas a day. How long will it take her to break even? Show your calculations.The Jakarta Post - Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares. The market is currently dominated by state-owned energy company Pertamina. Previously, President Joko Widodo criticized Pertamina for “monopolizing” the avtur business that was blamed for the high price of the commodity. “Because of a monopolistic market, the price isn’t competitive. Many want to sell avtur, and it will lead to lower prices and encourage efficiency.” Jokowi said. Do you agree with the statements? ? Use a relevant graph to help explain your answer. (Hint: Use graphical analysis to compare the condition under perfect competition and monopoly markets in your answer)
- As CEO of J&J, a huge pharmaceutical company, you and your management team face the decision of whether to undertake a $150 million R&D effort to create a new mega-medicine. Your research scientists estimate that there is a 35 percent chance of successfully creating the drug. Success means securing a worldwide patent worth $500 million (implying a net profit of $350 million). However, firm BigMed (your main rival) has just announced that it is spending $100 million to pursue the development of the same medicine (by a scientific method completely independent of yours). You judge that BigMed’s chance of success is 40 percent. Furthermore, if both firms are successful, they will split equally the available worldwide profits ($250 million each) based on separate patents. Assume that firms J&J and BigMed are risk neutral. Use decision trees and the expected profits criterion to justify your answer for the following problems. Should firm J&J undertake the R&D effort to…As CEO of firm A, you and your management team face the decision ofwhether to undertake a $200 million R&D effort to create a new megamedicine.Your research scientists estimate that there is a 40 percentchance of successfully creating the drug. Success means securing aworldwide patent worth $550 million (implying a net profit of $350million). However, firm B (your main rival) has just announced that it isspending $150 million to pursue development of the same medicine (bya scientific method completely independent of yours). You judge that B’schance of success is 30 percent. Furthermore, if both firms aresuccessful, they will split equally the available worldwide profits($275 million each) based on separate patents.a. Given its vast financial resources, firm A is risk neutral. Should firm Aundertake the $200 million R&D effort? (Use a decision tree to justifyyour answer.)b. Now suppose that it is feasible for firm A to delay its R&D decisionuntil after the result of B’s…In 1896, Colgate dental cream was introduced in tubes similar to those we use now. Today, the Colgate-Palmolive Company’s brand of toothpaste is the best-selling toothpaste in the world (ahead of the Crest brand marketed by Procter & Gamble, which was introduced in 1955). While Colgate and Crest enjoy the lion’s share of the toothpaste market, if you view the oral care shelf at your local drugstore or supermarket, you will find over a hundred different varieties of toothpaste. Colgate alone sells over 40 different varieties that are marketed under names ranging from Shrek Bubble Fruit to Colgate Total Advanced Whitening. The high level of product differentiation in the toothpaste market stems from firms introducing new varieties in an attempt to boost their economic profits. In environments where makers of other brands (such as Crest) can easily enter profitable segments of the market, a profitable strategy is to attempt to quickly cover that segment (introducing Shrek Bubble Fruit…
