economics management
JUNE SEMESTER 2013
MANAGERIAL ECONOMICS – BMME5103
ASSIGNMENT (60%)
Question 1
Read the following information and answer the questions below.
I am all right, Son
This report on an annual survey of consumers shows that economic and social factors can effect consumer’s tastes and the potential of advertisers to change them.
Australians are still a confident lot, but we have become more inward-looking. Although 2001 was a year of disturbing events, here and overseas, Australians remain confident about life in general and jobs in particular.
The collapse of companies such as Ansett Australia, OneTel an HIH insurance has not created gloom in the workforce, and September 11 has bone little to disturb consumer optimism. But recent event have made consumer more self- centred in their outlook; for example, the level of concern about the gap between rich and poor has decline. The increasing preoccupation of consumers with their own wellbeing and their lack of concern about September 11 corporate failures and other recent events, are some of the key findings of this year’s Eye On Australia research report, the 11th annual study from Sweeney research and the advertising agency Grey Worldwide examining consumer attitudes toward life and work, the economic outlook, big business, shopping, habits and advertising. Sweeney surveyed 540 people aged 18 and older during March. Since the previous Eye On Australia research was conducted in January 2001, consumers have become more focused on their immediate family and circumstances, rather than the world at large. Grey’s planning director, Jeremy Sankey, describes the mood of consumers in this year’s report as self-interested confidence… Overall, confidence about personal finances and the economy is higher than at any time since the first Eye On Australia report was published in 1992. This year, what Sweeney calls the lack of confidence index reached its equal lowest level since 1992 ( it fell to the same low
MANAGERIAL ECONOMICS – BMME5103
ASSIGNMENT (60%)
Question 1
Read the following information and answer the questions below.
I am all right, Son
This report on an annual survey of consumers shows that economic and social factors can effect consumer’s tastes and the potential of advertisers to change them.
Australians are still a confident lot, but we have become more inward-looking. Although 2001 was a year of disturbing events, here and overseas, Australians remain confident about life in general and jobs in particular.
The collapse of companies such as Ansett Australia, OneTel an HIH insurance has not created gloom in the workforce, and September 11 has bone little to disturb consumer optimism. But recent event have made consumer more self- centred in their outlook; for example, the level of concern about the gap between rich and poor has decline. The increasing preoccupation of consumers with their own wellbeing and their lack of concern about September 11 corporate failures and other recent events, are some of the key findings of this year’s Eye On Australia research report, the 11th annual study from Sweeney research and the advertising agency Grey Worldwide examining consumer attitudes toward life and work, the economic outlook, big business, shopping, habits and advertising. Sweeney surveyed 540 people aged 18 and older during March. Since the previous Eye On Australia research was conducted in January 2001, consumers have become more focused on their immediate family and circumstances, rather than the world at large. Grey’s planning director, Jeremy Sankey, describes the mood of consumers in this year’s report as self-interested confidence… Overall, confidence about personal finances and the economy is higher than at any time since the first Eye On Australia report was published in 1992. This year, what Sweeney calls the lack of confidence index reached its equal lowest level since 1992 ( it fell to the same low