There are three different organizational markets: industrial‚ reseller‚ and government. Industrial firms in some way reprocess a product or service they buy before selling it to the next buyer. Resellers—wholesalers and retailers—buy physical products and resell them again without any reprocessing. Government agencies‚ at the federal‚ state‚ and local levels‚ buy goods and services for the constituents they serve. The North American Industry Classification System (NAICS) provides common industry
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What do you mean by ‘new product’? List the steps in new product development process and the major consideration managing the process? New Products: New Products are goods or services that differ from its characteristics and new products produced by the firm. Types of Product: • New to world products: These are new inventions and discoveries like laser printers etc. • New category products: These are new for the company but not for the World. • Additions to product lines: These are new extensions
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Clifford tells the story of a shipowner whose ship sank and drowned all aboard. Clifford things the shipowner is guilty of their deaths even though he sincerely and in all good conscience believed the ship was sea- worth. What do you think? Do you agree with Clifford? Why or why not? Answer: I think that Clifford is absolutely correct in the scenarios that he provided. Quickly‚ Clifford made it clear that the shipowner was fully aware that his ship had not been built well‚ and because of this the
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Determine the market structure for which firm exists in and explain convincingly why your team believes so. Dell market structure is monopolistic competition. Why? This is because Dell has many competitors such as Toshiba‚ Acer‚ Sony‚ Lenovo‚ Asus‚ Hp‚ Apple‚ and Sharp .The existence of these firms makes Dell not the only single computers firm in the market. This have let Dell met the conditions which is many sellers in monopolistic competition. Thus‚ Dell pricing decisions will not affect the
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four such categories. At one extreme is perfect competition‚ where there are very many firms competing. Each firm is so small relative to the whole industry that it has no power to influence price. It is a price taker. At the other extreme is monopoly‚ where there is just one firm in the industry‚ and hence no competition from within the industry. In the middle come monopolistic competition‚ which involves quite a lot of firms competing and where there is freedom for new firms to enter the industry
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Explain how the different features of monopolistic competition and oligopoly affect price and output determination in these market structures. Both monopolistic competition (MPC) and oligopoly generally determine price and output based on the profit-maximising condition that marginal cost (MC) equals to marginal revenue (MR). Due to the different features of both monopolistic competition and oligopoly such as the barriers to entry (BTE)‚ which affects the number of sellers as well as market power‚ nature
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Do You Agree with China’s One Child Policy? China’s government had always had the problem of finding a way to provide for its large population. After the death of Mao in the 1970s‚ China finally realized that if the economy or the standard of living were ever going to improve‚ they would need to reduce China’s massive population. Thus‚ in the 1980s‚ the One Child Policy was introduced as a solution but did China make the right choice by limiting parents to only one child? After giving much
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Mechanistic Organization Structures The mechanistic view of an organization began with the industrial revolution. The view is a reflection of society’s radical change from a rural agricultural base to one more impersonally based on centralized urban industry employing great numbers of people. The first changes began in the late 1600’s and early 1700’s with rudimentary machines replacing manual labor or accomplishing things not previously possible because of size‚ weight‚ or sheer numbers
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can see no one care about all this problem‚ everyone wants to be doctor‚ engineer or wants to complete MBA or BBA and look for comfortable jobs. It’s a profession which is to serve for the people‚ it is honorable profession‚ and it gives relief to people similar to medical hospital. A hospital heal the physical parts of the people where as a lawyer heal the people both physically and mentally. In our country we can see many poor people often engaged different kind of crimes‚ and they do not get right
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The Four Market Structures Every business belongs to a type of market due to demand and freedom of entry. In order to know what type of market businesses operate in‚ it is important to distinguish which market structure each specific firm belongs to. The four structures which I will go onto explain in depth are perfect competition‚ monopolistic competition‚ monopoly and oligopoly/ duopoly.I will also be comparing and contrasting the theoretical constructs and the associated assumptions. Perfect
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