free markets perspective, examine the ethics and morality of 'let capitalism rip' allegation made by British Prime Minister David Cameron. (Guide: 750 words)
The competence or incompetence of free markets and the implications of resource allotment to agents in an economy continues to be a passionately debated topic within economic and political circles. "In reality, markets are prone to inefficiencies when a number of factors arise" (Mendes, n.d.). A key principle of the free market philosophy is that businesses should focus exclusively on maximising shareholder value and not allow other considerations, apart from compliance with the law, to intrude on their business activities. This is what governments over the past 30 years have lived by. And that's what still protects big business from having to pay for its own excesses. The speculative banks, the oil companies, the private equity and hedge funds, all steal from the tax payer with total…… [Read More]
This information goes both ways, which is essential for the functioning of the free market.
While this information comes and goes in the free market, so does it in the realm of advertising and consumerism. Companies advertise, consumers follow suit with their response, and these companies continue with or adjust their advertising methods to better suit themselves and their consumers. It is this give and take that has made the American business world and its economy so generally successful since the country's inception as a nation. Consumers know what they want and companies understand how to give these desires back to the consumers. In the arena of business, it is rare for any company to succeed who plays their consumers for fools, and companies in the realm of fast food and junk food do not play their consumers for fools either. ather is the consumer base that plays the fool…… [Read More]
Proponents of free market systems argue that free enterprise leads to more efficient production and better response to changing consumer preferences. Others point to the fact that markets are not perfect. Consider both viewpoints and respond to both sides of the issue with your viewpoints.
The 20th century contains many examples of the inefficiencies of purely a 'command-based' economy. Command or planned economies keep employment artificially high and the prices of goods artificially low. There is little incentive to create new enterprises to meet consumer demands, and little incentive for workers to be productive. Scarcity seems hard-wired into the system and corruption and bribery is rampant as consumers resort to the black market to get the goods that they desire.
In a free market system, the 'invisible hand' of the market determines what goods and how many goods are produced. "Adam Smith assumed that consumers choose for the lowest price,…… [Read More]
Moral Status of Advertising in a Free Market Economy
Moral Status of Advertising a Free Market Economy
Despite what many individuals may think, when devising an advertising plan, the planners must carefully pay attention to the motives of not only the business that is selling, and the perceptions of the target audience. Understanding the audience and paying attention to how one sells an idea or product is the core of affective and positive advertising (Shell and Moussa 313). However, persuasion can be a careful line of right and wrong, and in the case of a free market economy. In a free market economy, the concept of supplying a people with a sense of economic freedom can also lead to political and civil opportunities. To follow is the argument affirming a free market economy, highlighting more opportunities then inopportunity for economic growth and underlining freedoms.
Justifying…… [Read More]
PICING: HAYES VS.SUPEIO
When a firm decides to change the price of its good or services, the two driving factors are usually the cost and the competition. There is hardly another reason for change the price. Either the firm does it for itself as its costs are high and revenues are not significant or it does to beat the competition and gain bigger market share. Some theorists might add a third driving force behind pricing decision i.e. customer but this one is usually not as influential as the other two or simply doesn't play as major a role as do the two other factors. (Hyatt)
In the case of Hayes, the decision to change the price of aluminum wheel is driven by competition and not the cost. The firm already enjoys very large market share and is a global leader in this area but since it is Superior…… [Read More]
Papa John’s is the fourth-largest pizza chain in the US, and 20th-largest quick service restaurant overall (QSR, 2018). Its total revenues for 2018 were $1.573 billion, with net income of $1.64 million, according to the company’s latest 10-K. In terms of sales per unit, QSR Magazine (2018) lists Papa John’s with $968,000, higher than Little Caesar’s and Pizza Hut, but lower than Domino’s. The company has over 3300 units in total. According to the company’s website, it has over 5000 locations total, in 45 countries. Founded in 1985 in Jeffersonville, IN, the company began franchising the next year, and has grown steadily since then, although there was a decline in the number of stores in 2017 (QSR, 2018).
According to IBIS World, the pizza industry in the US is worth $47 billion, which gives Papa John’s a 3.3% share. The largest competitor, Domino’s, has a 12.5% share, so there is…… [Read More]
The process of achieving a market equilibrium relies on some basic principles. The principle of demand holds that, all other things being equal, the higher the price of a good the less people will demand of that good (Investopedia, 2012). There are exceptions to this law, for example goods with inverse price elasticity of demand, but in general the law of demand holds for all goods, even those with very low price elasticity of demand.
The law of supply is the inverse. It holds that all other things being equal the higher the price of a good, the more suppliers will want to provide. Thus, as prices rise, the supply of a good will rise because the profit associated with the production of that good will increase, but the lower the demand will be, because the buyers' marginal utility will decrease.
Those other things that must be equal,…… [Read More]
Because of the free-price system, trading exists in various degrees thus causing a lack of organized trading system. Issues also indicate that market economy creates monolopies that threaten the competitiveness of goods and services. Therefore, the solution to such problem that market economy critics find is to support mixed economy because they need a structured and organized system of trading. But what can a mixed economy provide to the economic condition of a nation? To the proponents of mixed economy, this system can prevent unstable economic conditions because the economic system is controlled. A mixed economy presents both the faces of a free-market and capitalism where people have the right to choose which type of economic system they wish to implement in trading. Additionally, even if free-market also exists in a mixed economy, it is still limited which therefore continues to present a controlled economic condition.… [Read More]
The authors use everyday examples, such as "investment in a newly formed small business" to make their economic processes more understandable to anyone who understands modern business, and this is one of the things that makes this book so readable, and so fascinating, even for someone who might not be that interested in economic theory and practice.
The Friedman's support many ideas that would reduce the authority of government in many economic areas, including the "negative income tax, the volunteer army, an improved method of auctioning Treasury securities, the monetary rule for achieving price stability; the voucher system for education, the flat tax, and flexible exchange rates" (Jordan et al. 199). It is quite amazing to see just how many of these Friedman ideas have made their way into our business and political world, including the volunteer army, the educational voucher system, and flexible exchange rates, to name a few.…… [Read More]
Pharmaceutical industries have to operate in an environment that is highly competitive and subject to a wide variety of internal and external constraints. In recent times, there has been an increasing trend to reduce the cost of operation while competing with other companies that manufacture products that treat similar afflictions and ailments. The complexities in drug research and development and regulations have created an industry that is subject to intense pressure to perform. The amount of capital investment investments required to get a drug from conception, through clinical trials and into the market is enormous. The already high-strung pharmaceutical industry is increasingly investing greater amounts of resources in search of the next "blockbuster" drug that can help them gain market position and profits. Laws, regulations and patents are important to the industry while spending billions of dollars in ensuring the copyright of their products.
It is the intention of this…… [Read More]
An important contribution to the market ideology is that the authors recognized the existence of a relationship between employment and the market. This relationship was based on that the employment, the division of labor and the "human material progress had proceed in parallel with the growth of the market." Otherwise put, there existed a direct relationship between the market and the employment, with the market being the feature which set the tone. An increase of the market would generate an increase in employment and vice versa. However, an increase or decrease in employment would not affect the market as the relationship between the two is unilateral.
Engels, Moore and Jones believed that the future successful implementation of the communist policies would see no major use of the market; "in the society of the future, there would be no mediation through the market. Wealth would satisfy needs directly. It would be…… [Read More]
oth Phillip obbit and Richard Robison offer accounts of what a market-state is. obbit contends that the core features of the market-state are a crisis of the nation-state, a transformation of core state functions, relations of national states to transnational markets, and cosmopolitan culture. Finance is at the center of the culture, the money economy. Governments are more centralized but weaker because power is allocated by the money men, the banks, the managers of finance and capital, and governments are merely their footstools. According to Robison, on the other hand, market-states are neo-liberal, techno-managerial and instrumental, and citizens are clients and consumers. oth describe the materialistic, consumerist society, yet each has its own theoretical approach and unique conceptualization. This paper will compare obbit's and Robison's accounts of market-states and use the writings of Smith, Keynes, Marx and others to help illustrate the nature of the two.
Differences of What…… [Read More]
Market in Early epublic
James Henretta is a history professor for the University of Maryland. In his article about the market in the early republic, Henretta (1998) outlines the structure of the market during that time period. He opens by pointing out that at the time there were two competing views of what the market should look like. One view, that of Hamilton and the Federalist party, was to "use the power of the state to assist monied men ... to pursue a capitalist path of domestic commercial development" (p.290). Such an approach would focus on building a strong banking industry to support the capitalists. The other approach, as advocated by Jefferson, Madison and the Democratic-epublican party, preferred a model that supported farmers, artisans and other small businesses. Incentives would be offered for these to produce for export markets, a "subsistence-plus" model that allowed people the means to survive while…… [Read More]
Market Equilibration Process for Computer Peripherals
That Experience High Level of Cyclicality
The demand for computer peripherals in general for the inkjet and low-end nonimpact printers specifically has continually proven to be highly inelastic, where price reductions are not as effective as a continual stream of new product innovations. Having completed internships with peripherals manufacturers, this observation became very clear as product management and marketing teams continually tested the market equilibration process with price reductions, bundling suppliers and extending the overall warranty period as well. When the law of demand is applied to computer peripherals in general and inkjet printers specifically, the inelasticity of these markets becomes more pronounced and the ancillary process workflows emerge as the primary differentiators.
Analysis of Market Equilibration Process for Computer Peripherals
In the absence of highly elastic product demand and exceptional product differentiation that leads to unitary or highly elastic demand curves for products,…… [Read More]
com. In case of several companies, enhancing customer relationships is among the most capable features of e-commerce. However, whereas the Internet has presented the consent of a novel method to draw and communicate with the customer, hardly few enterprises have discovered a method to efficiently manage interactions with their customers on the Internet. (David, 2000)
The real skill is involved in making the device suitable to accomplishment of the business strategy and also makes profit persistently. (Howard, 1999) This makes McGrath and Heiens to describe the failures of Internet startups as a moot testimony that "the Internet is a tool, not a panacea" and that a "sound business strategy is always a prerequisite for success" Therefore, even though many successes have appeared to day on the Web in the online industry and in the digital forms in general still more are to be explored for accomplishing long-term goals of the…… [Read More]
Market Efficient espect Set Information Impossible Makes Abnormal Profits
In his work, Fama argued that given the massive use of resources by the brokerage firm to conduct studies on trends in the industry, the effects of changes in interest rates on corporate balance sheets and expectations of managers and/or political analysts of the companies should be able to systematically beat a generic portfolio with the same risk characteristics.
Since, according to Fama, professional in every situation, the analyst has a fifty percent chance of beating the market; although its specific capabilities did not exist he would beat a lot of the market. The analyst did "help" the market to be efficient if all the investors, in fact, would hold portfolios composed of stock indices, would open up significant opportunities for professional traders to take advantage of the situation. But the movement of traders to that "new market" would…… [Read More]
The first point that has to be looked into is the health of the company, Colorado Australia. The company is passing through a bad phase and this is not the time for a product launch as generally no new introduction can make money for a period of time after launch. When the company launching the product is itself in a relatively poor condition of finances, then it is less likely to take risks that will be required for the successful development of the new product. Here the situation is likely to be of a new brand in a new market, rather than a totally fresh launch. The company is already exporting substantial quantities and it is possible even the same item is being exported for sale by another organization under a different brand name. It may be possible that expansion of sale of quantities under that arrangement may…… [Read More]
For this type of customers, Diesel should create a special line of clothing items, different from the one for the primary target customers. For the primary target customers the central piece is the jeans. For the secondary target customers Diesel designers should combine jeans with other clothing items that are best suitable for 25-35 aged customers, that have good jobs and that are present in high social circles. For the secondary target customers the price should be significantly higher than the price for the primary target customers. The secondary target customers are trying to buy a certain status together with the clothing items they buy, so the higher the price of the clothes, the higher the status they are achieving. Other than this, the price should reflect the work invested in creating these clothing items, which require extra care for the secondary target customers.
As mentioned above, the communication strategy…… [Read More]
Also, the importation of technology from abroad exposes consumers and producers alike to the innovative use of vehicles, such as hybrid technology, that domestic producers can implement even better than the original manufacturer. Innovation is the ultimate driver of new sales and the creator of new markets and new markets means more jobs for workers.
Beginning a trade war by setting tariffs or limiting imports through quotas ultimately creates waste and more expensive cars for consumers. Giving domestic producers the ability to price their products artificially low through subsides encourages them not to innovate, a critical part of remaining competitive in a high-tech industry. It has been argued that American car manufactures are out of touch with the needs of car buyers and the needs of the environment alike, but isolating them through protectionism will only preserve company profits and jobs in the short run.… [Read More]
Market Society and the Public Sphere
My journal text comes to illustrate the utmost significance of globalization viewed as the force molding and shaping the current world. It describes the multidimensional aspect of globalization that influences and encompasses all facets of life through an integrated network. Currently, globalization is the buzzword in media articles, daily talks of media people and talks of politicians. There is no aspect of life that is not influenced or affected by globalization (Tober, 2006, 33). However, many people find it difficult to reflect on this phenomenon. This is because the term is applied in so many aspects leading to its ambiguity in defining it according to my text.
Numerous volumes of work have written about globalization in numerous fields such as political, science, business, economics, sociology and many more. This has made the term globalization lack a precise cogent theory and definition. This is seen…… [Read More]
Market Potential Index
There are eight indicators on the market potential index: market size, market intensity, growth rate, consumption capacity, commercial infrastructure, receptivity, economic freedom and country risk.
The market size is the largest weight. The measures used are urban population and electricity consumption, I guess as proxies for the number of people who have at least the possibility of having money.
Market intensity is based on the gross national income per capita and private consumption as % of GDP, measures that reflect the wealth of the country and presumably telling something about purchasing power.
Growth rate is based on the growth rate in energy use and the real GDP growth rate, looking at how fast the market is growing.
The consumption capacity is measured with consumer expenditure and income share of middle class. This is similar to market intensity, but with a focus on consumers and the middle class,…… [Read More]
Goblins in this case can be viewed as devil's agents who force people to commit sins. Food items are presented as sins that man can get involved in if he doesn't have a strong will power. They are described in attractive terms (Bloom-down-cheek'd peaches,
Swart-headed mulberries,/Wild free-born cranberries (5-14)), just like sins and vices that initially appear very tempting but are eventually harmful to one's soul. In the very same way, these fruits look attractive and are tasty but gradually rob the body of its vigor and beauty.
Laura is a risk-taker and hence fell victim to a clever and tempting ploy. Lizzie is timid and conforms to the norms and thus could save herself and later her sister. This is a rather puritanical argument but that's how the author presents it. But there is another thing which is far more important than their risk-taking capabilities. It is the ability…… [Read More]
The segmentation recommended in this marketing plan includes the following:
Ensure that locals (there is an advantage to the restaurant's site) become regulars.
Differentiate the "Italian" notion for those who want something different from "standard," "middle of the road" Italian fare.
Come up with very targeted marketing which ensures focus on the three target customer groups:
Those living/working within a well-defined radius
Those who may know the restaurant from other experiences in Australia
Spur-of-the-moment tourists who see the restaurant and walk in.
Cost structure of industry (especially whether variable cost is a small or large proportion of the normal selling price, and whether there are significant economies of scale of production, importance of transportation costs etc.),
The relative margins earned by restaurants vary from zero to 10% of total sales. Price discounts may be attractive to customers, but can have a dramatic impact on the bottom line if not properly…… [Read More]
To ensure that none of this was taking place, many state regulatory commissions would set prices and monitor the industry. Then, during the 1980's is when deregulation would occur, as many economists felt that they were stifling economic growth. As a result, the different laws were changed, allowing for electric producers to have greater freedoms in: setting prices and determining how it would be distributed. With a host of electric companies, beginning to own others producers in different states and they began to actively trade it. This is important, because it shows how the overall level of government regulation would be reduced. Yet, the various state regulatory commissions would still be able to maintain oversight and control inside their borders. As a result, there was a reduction in the overall amount of regulations, while allowing certain controls to remain in place. When you put these different elements together, this meant…… [Read More]
For example, in the early 1990's the 'Intel Inside' of computers was great for computer sales. That is until the Intel brand name took a major hit for allowing a faulty chip to make its way to the market. The internet-based Word-of-Mouth made the 'Intel Inside' a marketing nightmare.
The Word-of-Mouth and Buzz marketing approach coupled with the internet are more effective than any available print or television ad currently used because consumers are too overly saturated by those mediums. This new approach of the future was recently used and studied for the popular film 'Fahrenheit 911' and the blockbuster results in revenues clearly show that this new approach is the wave of the next generation.
In conclusion, the world of marketing has changed and our more global and technologically advanced social and business environment will make marketers reevaluate their approach. Marketing executives can no longer go about in…… [Read More]
Arumemi-Ikhide believes that Arik can succeed due to a combination of the opportunity -- helped by economic and air transport reforms in Nigeria -- and the capability to deliver a high quality product." (Dunn, 2009) Also stated by Arumemi-Ikhide is that this "will be a key in differentiating it in the international market and providing feeder traffic. That will be the lifeline for the international network. That's what sets up apart from our rivals." (Dunn, 2009)
Martin Russell states in the report entitled: "Arik Air: The Future of African Aviation" that both the "internal opinion of African air travel and that of onlookers overseas was bleak before the arrival of Nigeria's newest treasure, Arik Air." (2008) Russell states that the aviation industry is African is "hampered by somewhat less predictable weather and frequent storms" resulting in aviation in African being "far from predictable with temperamental skies that readily…… [Read More]
Free and Forced Actions Analyzing an Argument
In the article, Is Determinism inconsistent with free will? Walter Stace argues that every action or event is caused; however, whereas free actions are caused by the doer's internal psychological state, forced ones are caused by forces external to the user. This text evaluates the validity of the author's argument in the short story, 'Shooting an Elephant' based on Stace's definition of free and forced actions.
Free and Forced Actions
Stace's Definition of Free and Forced Actions
In the article, Is Determinism inconsistent with free will?', Walter Terrence Stace puts forth an argument for determinism, arguing that it is consistent/compatible with free will. He is of the view that free will exists and every event in the world is caused (Colorado University, n.d.). He illustrates the compatibility of these two views by giving his own definition of what exactly constitutes free will. Stace…… [Read More]
Specification of Thesis's Main Point:
Goldman (2009) surmises that today's economic crisis has changed many aspects of financial reporting, one of which is the calculation of the cost of capital.
Three Supporting Opinions/easons:
Utilizing much of his own personal, professional experience as well as other sources, Goldman's (2009) three supporting opinions all highlight the impact today's economic crisis has had. He quotes Marc Panucci, an SEC associate chief accountant, in his first supporting opinion. Panucci agrees with Goldman's theory that the turbulent economic environment of today requires changes to existing disclosures, in order to meet disclosure requirements. This is especially true when meeting disclosure requirements in liquidity, risks and uncertainties, and credit risks.
The Internal evenue Service is Goldman's (2009) second supporting source. Not known for their empathy, the IS has eased rules so that homeowner's facing tax liens can sell or refinance their homes. In fact, in some instances,…… [Read More]
Moral Criticisms of the Market
Moral Criticisms Market This assignment requires read article Ken S. Ewert (found eading & Study folder). Note article, Ewert defending free market "Christian Socialists." He states position a rebuttal
Moral criticisms of the market: A critique of Ewert's analysis
It is interesting to read Ken S. Ewert's 1989 criticisms of 'Christian socialists' in light of current debates on other types of economic policies today. Ewert portrays Christian, leftist defenders of socialism as impervious to logic, in contrast to other former critics of capitalism, who grew more acclimated to capitalist principles in light of the failure of the Soviet Union Similar criticisms are made of 21st century religious fundamentalists, who stress the need for private enterprise to address societal problems 'on principle,' even when public regulation might be helpful and who try to define science, including science education, in religious terms rather than in terms of…… [Read More]
competitive market environment that Victorian Diary Giant operates by answering four questions in the case. Victorian Diary operates under the perfect competitive market. In the last few years, the firm has cut the milk prices by 8.5% making the new price to move to $4.50 per kilogram leaving farmers at break-even level because of the glut of the milk in the world markets. While 8.5% cut of price is relatively good, however, the struggling famers does not achieve much comfort from the new price.
Competition occurs when there is a rivalry among firms producing similar products. In the competitive environment, firms always try to take away the market shares of other firms. However, a perfect competitive market is the kind of market where firms are price taker. The following requirements operate in a perfect competitive market:
Firms operating in the market produce identical products,
There are no barrier to enter…… [Read More]
2007 Economic Crisis on American Car market
Effect of the 2008 global economic crisis on automotive industries
Crisis in the United States
Crisis in Canada
Crisis in ussia
Crisis in European markets
Crisis in Asian markets
Effects by other related crisis events
In this paper, we will review the effects of 2008 global automotive crisis. Our main focus will be on the American car manufacturers and the negative impact they suffered due to the crisis. We will also have a look at how this crisis had affected car manufacturers in other major markets around the world notably Europe, Canada and the prominent Asian markets such as China and India. Finally, we will look at some of the other factors which were important to this event namely the energy crisis since the cost of fuel is directly related to the car industry.
The automobile industry is a very important part…… [Read More]
Prevent Competitive Markets in the United States
The United States follows a system of "free market economy" in which most businesses are privately owned and where individual producers and consumers determine the kinds of goods and services produced as well as the prices of such products. Competition is a key factor in market economies as it keeps the prices of products in check, forces the competitors to enhance the efficiency of their production process, and drives the inefficient producers out of the market. However, "perfectly competitive market" is largely a theoretical economic concept which does not exist in any country and most countries, including the U.S., follow a system of mixed economy. In such 'mixed economies,' there are several factors which prevent the existence of a perfectly competitive market and the U.S. is no exception to this rule. In this paper, we shall discuss some of the factors that work…… [Read More]
Future of the Housing Market
The housing crash that began in 2007 resulted in the worst economic catastrophe in the United States since the Great Depression of the 1930s, although few observers who realized that the bubble was about to burst truly understood the severity of the depression that would follow. In reality, it led not only to a collapse of the housing market but also to the failure of large banks, mortgage and insurance companies and very quickly to mass unemployment. The much touted service sector that was supposed to be the engine of the economy in the postindustrial age came to a grinding halt and had to be bailed out by the largest government expenditures since the Second World War. For a public that was accustomed to decades of rhetoric about the virtues of laissez faire and free markets, all this came as quite as shock, perhaps even…… [Read More]
The Market Lifecycle
The best way to see into the future is precisely the one that we have been allowed to experiment with for this exercise: A time machine that takes us to an assigned point, lets us look around at the things that are the most relevant to us, and then returns us safely to our chronological point of departure without having undermined the entire space-time continuum. The analysis that we have performed for this assignment has provided us a model for the ways in which a product can realistically be assessed, even when our time machine is in for repairs.
This analysis is specific to the data that we have been given for this exercise; however, the overall dynamics of the market explored here are relevant to the sale of electronics in general and to a not-insignificant degree to all markets that are keyed to novelty, which…… [Read More]
27-29) This provoked financial demands and awareness of the people in different parts of the world. People and businesses are dissatisfied with the traditional financial systems due to lack of opportunities for investors. Businesses today require more diversified portfolios for investments because this will reduce their investment risks and increase the probability of future capital flows.
Increased capital mobility has increased the importance of exchange rates which is serving as a monetary policy channel in some industrialized economies. In mid 2000s, there was a sharp shift in the flow of international investments and savings (geographic pattern) resulting in the segmentation of current account imbalances. This was also a major contributing factor. Additionally, the domestic financial markets were also affected by the change in regulatory environment. The two important factors for this are as follows:
1. apid growth of OTC (over-the-counter) markets of derivatives in terms of complexity as well as…… [Read More]
Not only is there cost competition, but the real cost of a lot of services have actually gone down over the past fifteen years despite a tremendous increase in demand and enormous technological change. For example, the cost of conventional LASIK vision correction surgery has dropped radically, even as the procedure has become more technically superior (Herrick and Goodman, 2007).
Many experts have suggested that the solution to the health care system's troubles is to have a more market-based approach. Consumer-directed health plans are at the heart of this idea. If people are made to spend more of their own money, they'll be more practical users of care and look for better value at lower prices. This is how other industries work, and people don't complain much about them. It has been asked why health care should be any different. People think that the government should get out of the…… [Read More]
The internet has given marketers a great deal of flexibility of time and message, though it must be clear that contrary to the previous assumptions there are limits to advertising ability and revenue. The tool enters the individuals home, just as direct marketing does and often offers links to direct purchase of the product advertised. Television, also enters the consumers home, and offers product information and brand exposure. Radio is often a mode of marketing that is accessed in transit, where millions of people listen to the radio as they drive and remember products, services and events that they hear about on the radio. Word of mouth marketing is important as it provides a personal touch to the product or service as testimonial can be the key to product awareness and utilization. (Ryans, 1996, p. 63)
8. Old statistics with regard to advertising to sales ratios, 10 years ago being…… [Read More]
Tobacco industry has seen significant government intervention since at least the New Deal. Tobacco farmers have typically received subsidies for their crops and the benefits of marijuana prohibition but in more decent decades they have also faced increasingly strict controls on the sale of tobacco products. Prior to the era of restrictive cigarette sales, and buoyed by subsidies, tobacco was one of the more lucrative products to farm in the United States, a situation that has changed of late. The most recent move on the part of the government was the Transitional Tobacco Payment Program, which as the name implies was intended to provide incentive for farmers to transition to other crops (Mccord, 2014).
The moves on the part of government have reflected different roles that government has played. The subsidies reflected the role that government plays in promoting agriculture, not just promoting a farming lifestyle but ensuring a certain…… [Read More]
Moral Criticism of the Market
I disagree with the author's major premise and conclusion. He contradicts himself by suggesting that the basis of his support for a free market is that it depends on offering something of value to others and that the problem with the dynamics of commercial advertising lies primarily with the individual. The reality of the advertising industry is hardly that it merely increases public "awareness" of available products. In fact, the main effort of commercial advertising is precisely to create the perception of need, even (or specifically) where it is illusory. To use the author's example, by the time someone covets a Mercedes that he sees driving past him on the street, he has already been inundated by years of explicit and implicit messages that the Mercedes symbolizes respect and achievement.
The fashion industry provides an even better example because it no longer exists to fill…… [Read More]
College Education Should be Free for Everyone
People everywhere in the U.S. are going into major debt just to get a college diploma so they can be eligible for a career in the job market. Fifty years ago, having to get into debt just to be eligible for a job was not a characteristic of starting a career. It is a new phenomenon that has developed as a result of the federal government backstopping all student loans (Avery, Turner). Whenever the federal government gets involved in anything in the free market, prices go up (Wolfram). That is the reason health care is so expensive today: the federal government subsidizes treatments, which means producers have no problem raising the prices as they know taxpayers are going to pay for it via Uncle Sam. Since Uncle Sam also started guaranteeing student loans, colleges have no problem offering them to student and raising…… [Read More]
European Union's Former Eastern Block: A New Emerging Market and egion
This paper will focus on the European Union or "EU" former eastern block countries of Czech epublic, Slovakia, Hungary and Poland. This region of the EU was selected as a recent emerging market and economic community to study because of its recent introduction into the global marketplace. The EU carries a lot of clout in the world of politics. In recent years, the Czech epublic, Slovakia, Hungary and Poland have made concessions needed to become a part of the European Community. The countries were former eastern block countries, controlled by Soviet powers and up until the late 1980's and were closed to the rest of the world but they have been successful in their transition to a market oriented economy. Specifically the country of Hungary has been ranked one of the world's top tourist destinations for the last four…… [Read More]
The fact that a site like Stubhub has gained so much popularity and has continued to thrive is testament to the fact that its existence helps to equalize the economic forces and sustain the secondary ticket sales market. These facts alone do not justify the existence of sites like Stubhub, but they show a demand for a secondary market, at least in tickets sales for these types of sporting events.
In response to the article and its main points, I completely agree with author Isadore. I firmly believe that since the primary market for tickets is often unfairly or inadequately regulated by factors such as specific access and timing purchases, that a secondary market would lead to far better access and ticket valuation than currently exists within the primary market itself. The basic economic premises behind supply and demand have been altered, or unfairly modified by limiting ticket sales to…… [Read More]
Stategic Planning fo Maket Enty
Baies to Enty
Maket Enty Stategy Selection
Agents, Distibutos and Tading Houses Agents
Distibution and Sales Channels
Stategic Alliances, Licensing and Fanchising
Foeign Diect Investment
Finding the Right Patne
Negotiating a Patneship Ageement
The Ageement Checklist
Have the salient points of the ageement been ageed upon in pinciple?
Paticipants and thei Roles
Section 10: Managing Intenational Business Opeations
In this wok, the case study of Tesla Motos has been taken as an example to undestand the stategies of intenational businesses with paticula attention to Gemany. The wok begins with exploation of stategies pevasive in intenational makets with close attention to enty issues. The vaious foms of foeign investments and business like Geenfield, acquisitions, meges, and Joint Ventues…… [Read More]
Capitalism and Competition
It is ironic that the FTC video points to the shopping mall as evidence that its anti-trust laws are working, because the mall is going the way of the dinosaur—i.e., many malls are empty, as Amazon has basically killed the bricks and mortar retailers. With Amazon, the e-commerce giant, seeming to take over everything (or at least retail), it does seem at times like there is not much competition in some respects. What I find to be problematic is that Amazon can actually lose money on its retail end (it makes its money mainly through Amazon Web Services—i.e., by providing Internet to companies). With every transaction, Amazon is losing money—but because it is undercutting its competitors, its competitors are going out of business and Amazon gets their market share. As Amazon spreads into other sectors it does seem like it is becoming a trust—but it is still…… [Read More]
Long-Term Investment Decisions
Keeping prices inelastic is one way to ensure that a pricing strategy does not impact the reasons for a consumer's purchasing of the product. If price is elastic, it rises and falls with various factors that impact its cost -- and this in turn more than likely will have an impact on whether or not a consumer will buy (unless brand loyalty is the main reason for purchasing, consumers will buy when a product is offered at a "discount" price and move to a different or "off" brand when the price is higher) (Stone, 2010).
However, with products such as low-calorie frozen, microwavable food there is not likely to be a high degree of brand loyalty unless the product has shown itself to be significantly better than other products. Even then any price inflation could upset the consumer base and alter demand. Thus an inelastic…… [Read More]
Wal-Mart's challenges in the Global market
Wal-Mart as the world's leading retailer has been spreading very fast extending its power across the world market. This began with the nine countries in South America, Asia, and Europe. This expansion is likely to extend even in the near future. As the company attempts at penetrating the hypermarket culture in different countries, it has encountered a battery of severe problems in the process of its global operations. Joint ventures and acquisitions of local businesses have become a major challenge in nationalism economies. Therefore, strict rules and regulations imposed by governments have blocked Wal-Mart's business operations. Late entry and miscalculating competitors have destroyed location opportunities and tampered with Wal-Mart's relationship with local suppliers. The company experienced big challenges in the global market due to its inability to adapt to new local cultures. In addition, sex discrimination, unions, and low wages prompted employees to…… [Read More]
market communication plan for Divine Chocolate that produces chocolates for a noble cause of supporting the cocoa farmers of Ghana and promoting Fair Trade. The paper consists of an analysis of its business environment as well as a set of recommended strategies which it can use to beat the competition and effectively communicate its marketing messages to the most potential target customers.
Divine Chocolate is one of the leading Fair Trade chocolate manufacturers in the United Kingdom and United States. In addition to producing the best quality chocolates, Divine Chocolate also aims to promote fair trade in the Global community. This paper presents a comprehensive analysis of the current business and marketing strategies of Divine Chocolate and proposes a market communication plan which can help it better understand its target market, effectively run its advertising and promotional campaigns, and beat the competitor brands which are supported by numerous unknown credential…… [Read More]
market structures in detail and analyses the pricing strategies that the firms have to undertake when they operate in different regimes. The case study on Toyota is considered next, which indicates that firms competing in various structures does not only have to focus on price and quantity ceteris paribus, they also have to consider external and internal variables that have a bearing on these decisions.
Introduction to Market Structures
Market structures are important parts of economic theory as they model market behavior that can help economists explain activities in industry with ease. Market structures, hence are basically models that define market behavior with respect to certain criteria so that it becomes simpler to compare events in real life to the postulated scenario as described in theory in order to be able to determine casualties and to define optimal strategies that firms operating in different market structures can use.
There are…… [Read More]
There are many arguments both for and against both free trade and protectionism. There are some that say that free trade should rule the day and that the market can regulate itself. There are others that suggest that the market is an immoral mess and/or that countries should be allowed to protect their national and economic interests if and when it becomes necessary. This report will talk about the pros and cons of each thought process and offer an overall opinion at the end. While free trade is generally the better course of action to follow, there are times and situations where at least some elements of protectionism are not beyond the pale.
Generally speaking, free trade is when trade is allowed to happen in an unfettered way. Rather than goods being blocked from crossing borders in the form of exports or imports, free trade is all about letting people…… [Read More]
hile standardization may eventually win out in a market, it is only by virtue of having so many choices that the ideal standard can be determined.
4. It is important to build a strong brand because the brand is the one source of sustainable competitive advantage that can be derived from marketing (Yap, 2006). The brand contains within it all of the past marketing that the company has done. The brand alone can sell the product, more than a sales pitch. As a result, the brand is the most important component of the marketing campaign.
A brand manager must understand the brand image in order to ensure that the brand experience matches that image. The brand is a promise to the consumer, of quality or price or both. The consumer associates the brand with certain qualities or characteristics. The brand manager must understand what value the brand has to the…… [Read More]
Mergers can also help at least come domestic companies become competitive with international ones. Mergers potentially free up increased money for research and development.
Yes, it is possible for mergers to be beneficial overall. There is no blanket yes or no judgement that applies to whether or not mergers are beneficial. They are generally beneficial if the above conditions are met along with the following conditions: There remains sufficient competition that the newly formed company cannot enforce monopolistic conditions and that there remains freedom of entry into the market sector for new firms.
3. Why are competitive markets considered more efficient than monopolistic markets? Give economic reasons. Give a real-live example of a market that tends to be competitive and one that tends to be monopolistic. Describe characteristics that support your classification. Is there evidence of efficiency or inefficiency in either of the markets you describe?
Competitive markets are considered…… [Read More]
market values" UK Listed Companies evaluate companies Investor atios Profitability atios. With reference statement: require critically appraise importance market balance sheet UK listed companies critical assess a relevant range investor profitability ratios measuring performance.
Market value and balance sheet value
A British firm listed on the market is generally traded at its market value, regardless of its balance sheet value. At a simplistic level, the balance sheet value represents the value of the firm as it is computed within the organization and in terms of the company's resources, revenues and other internal values. The market value on the other hand is the value of the company as it is assigned by the multitude of players in the market, and which is often computed based on elements intrinsic to the market, such as profitability of the company, risks and so on.
At a more specific level, the two concepts…… [Read More]
market case analysis for Verizon FiOS TV offered by Verizon Communications. The analysis consists of product, pricing, promotional, and distribution strategies which Verizon Communications should follow in order to operate in the industry in the most competitive and profitable way. The analysis of industry and competition is also given as a part of marketing research strategy.
Verizon Communications is one of the leading communication services providers in the World. Its major products and services include Verizon FiOS TV, FiOS Internet, FiOS Digital Voice, set-top box, and receiver sets. This paper presents a marketing analysis for Verizon FiOS TV -- one of the most successful communication services offered by Verizon Communications in the United States and some other countries. Verizon FiOS TV is a high quality fiber optic cable network for home television entertainment. Verizon Communications offers its Verizon FiOS TV in all the major cities and towns of the United…… [Read More]
Do you think metrics can be applied to other areas of management, such as employee attitudes, employee performance, or skill development? How might those metrics be measured and managed?
There are an abundance of opportunities to provide metrics of performance in other areas of management as well. The uses of metrics for example for measuring employee attitudes and attributes that lead to performance analysis are also pervasive in defining human resource management strategies aimed at increasing both morale and performance (Bukowitz, Williams, Mactas, 2004). Often these metrics and more like they are integrated into a common benchmark report often called a balanced scorecard and are used for assessing strategies and their performance over time.
2. How have the fields of psychology and sociology contributed to our understanding of organizational behavior? Explain with suitable illustrations
There is direct relevance to organizational behavior of psychology and sociology across several different dimensions. irst,…… [Read More]
Microsoft's future development plans for ensuring a high level of usability of their applications also includes putting the familiar Microsoft Office applications interface onto the more complex Enterprise esource Planning (EP) and Customer elationship Management (CM). These are all strategies Microsoft has undertaken based on their research of customers' expectations to bring their previously more difficult-to-use applications more in alignment with what customers' expectations dictate. For Microsoft, the managing of expectations from purely a usability and functionality standpoint can mean the difference of holding onto their long-standing customers or not. esearch expectations are essential for Microsoft to continually bring value to their loyal customer base. Without this research Microsoft would not be able to align their product strategies to the evolving needs and expectations of their customers.
Yu, L (2005). The Great Expectations Effect. MIT Sloan Management eview, 47(1), 5. etrieved March 12, 2008, from ABI/INFOM Global database. (Document…… [Read More]
Antitrust Practices and Market Power
The modern business environment is increasingly characterized by the proliferation of emerging monopolies in various industries. One of the industries that have experienced an increase in budding monopolies is Information Technology, particularly with the growth and development of social media and networks. Technology companies have rapidly developed into monopolies because of the connection between attractive business opportunities. The growth of leading technology companies into monopolies has also been fueled by their efforts to gain and maintain market power. However, some of these companies such as Google, AT&T, Standard Oil, Microsoft, and Facebook have been investigated for antitrust behavior.
Similar to Google, Facebook is company whose growth and development is partly attributed to the failure by Microsoft to strangle it like it did to Netscape a decade before. Facebook's business and operations are entirely built on focusing on developing network effects since the firm's value for…… [Read More]
Market power can exist when there are substantial barriers to entry into the indus-try. Expectations about incumbent reactions, incumbent advantages, and exit costs all can serve as entry barriers.
The extreme case of a firm with market power is monopoly, where the industry con-sists of only one firm. Here, industry and firm demand curves are one and the same. In contrast to competitive markets, consumers pay more than marginal cost and the firm earns economic profits. Output is restricted from competitive levels. With a monopoly, not all the potential gains from trade are exhausted.
Monopolistic competition is a hybrid between competition and monopoly. It is like mo-nopoly in that firms under both market structures face downward-sloping demand curves. Market power comes from differentiated products. Examples include the toothpaste, golf ball, tennis racket, and shampoo markets. The analyses of output and pricing policies are similar in the two cases. The difference…… [Read More]
Competitive Analysis: Tiny Home Market
Montainer is one of the more popular entrants in the tiny home market. It offers a relatively low price point for container homes. According to its website, a base module in the form of a recycled and refurbished shipping container is only $65,000, well below the price of even the most inexpensive homes, and installation runs $10,000-$20,000. The homes can be located anywhere the customer has land and can secure a permit. "We determine exact installation costs for your site including connection to utilities whether you are [sic] access to power, city sewer and water or well and septic system. Solar panels are also an option that we provide." ("FAQ," 2016). The shipping containers are relatively Spartan, however and a more realistic target market may be individuals who want vacation homes or temporary office spaces although according to Montainer, "Montainer wants to sell its homes…… [Read More]
Tiny House: Target Market Analysis
The tiny house market for homes "typically between 100 and 500 square" has a wide demographic outreach in terms of its age range: "Millennials, who have limited funds and might not be able to afford a traditional mortgage because they have to pay off college loans; and Baby Boomers, who are retiring and seeking ways to stretch their pension by finding affordable homes" (Hyde n.d.). The concerns of both groups are strikingly similar. Idealistic Millennials embrace the environmental benefits provided by such homes and Baby Boomers are seeking to save money on utilities. However, demographically, the impressive size of the Millennial generation makes this an even more attractive potential target market: "By sheer numbers, the 75 million members of the millennial generation overtook baby boomers last year" (Lee 2016). Slice of Heaven's emphasis on the luxury market of tiny homes would allow both demographics to…… [Read More]
The FDA will need to draw a line in the sand -- the goal of clinical trials isn't to save money, it's to test a drug's effectiveness.
Janet Rehnquist recommended that the FDA "exert leadership" on this issue. The complexities of globalized clinical trials do not lend themselves to half-hearted regulatory efforts. The problem with taking a more active role is that the FDA begins to become the regulator of regulators, which casts a wider net on its responsibilities than was ever intended. There is cause to want the FDA to consider the practical concerns, much less the ethical ones, in scaling back the reliance on non-U.S. clinical trials.
3. e agree that monitoring online marketing of drugs is going to be difficult. But since the Internet is the main source of information for a lot of people -- 91 million Americans a year look for health information online. ith…… [Read More]