In this assignment‚ I am required to write an analysis of the main forces driving the market for any specific product of my choice. For me to successfully complete this task‚ I have to first pick a product‚ one that I am interested in‚ discuss the long term forces driving demand and supply‚ discuss the position of the main substitute products and producers‚ look at past data and explain what has occurred to change the price and finally will the producer be profitable in the future? I have chosen
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Introduction History of the product For this economy of business group assignment‚ we have decided to analyse beer market data and we also choose tiger brand as main research product. The reason we decided to analyse beer market data are because of its history and market growth. Beer was the first alcoholic beverage known to civilization; however‚ drinker of the first beer is unknown. Historians theorize that humankind ’s fondness for beer and other alcoholic beverages was a factor in our evolution
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Global Market The Callaway Golf might have pros and cons if they prefer either to use of a global marketing or multi-domestic marketing. The Callaway Golf can have a big market in worldwide which may increase the amount of its revenue. Moreover‚ the products of Callaway can be known by people around the world‚ especially who interested in golf. By using the global marketing approach to marketing for Callaway‚ the company may have no problem in producing and distributing its products to other countries
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CHAPTER 2 Market Study A. Market Environment The target market of the restaurant are the students‚ office workers‚ jeep and tricycle drivers‚ and other people in Paombong who would like to eat hot dishes before going to their school or work. This will provide them delicious and healthy breakfast and snacks everyday. The menus have affordable price that will make every hot dishes-lover buy the product. The hot dishes offered by the restaurant are not similar to the ordinary hot dishes sold on roads
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Chapter 22: Competitive markets Getting Started… (a) Thames Water does not have any competition‚ as they are the sole supplier of water for London‚ however‚ Maze has a lot of competition as there are about 5‚500 restaurants‚ and Maze is only one of 5‚500. (b) Because of the competition‚ consumers will benefit from restaurants lowering prices and increasing the quality of food however‚ for Thames Water there is no competition so they do not have to worry about price or quality because they
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LONG-RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION In the long run‚ a firm in the perfectly competitive market can earn only normal profit. So‚ the profit maximization under long run is: (1)Necessary condition P=LMR=LAR=LMC=LAC (2)Sufficient condition Slope of MC > Slope of MR We can establish this condition from the following analysis. In the above diagram for any market price OP1 the existing firms can earn supernormal profit as for the equilibrium output level OQ1. The average
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one that comprises numerous small sellers and buyers. Firms that comprise the industry produce similar products and consumers have complete and accurate information about their prices. All firms have equal access to raw materials‚ capital‚ labor and technology. A perfectly competitive industry‚ therefore‚ has no single market leader or monopolistic firm. All participating companies are identically leveraged and each must offer high quality products to retain customers. Examples of perfectly competitive
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In Smartphone Market‚ It’s Luxury or Rock Bottom By CHRISTOPHER MIMS Feb. 1‚ 2015 8:53 p.m. ET (WSJ) For Apple Inc. and Xiaomi‚ the Chinese smartphone maker often described as the “Apple of China‚” it is the best of times. For most of the companies’ competitors‚ not so much. In December‚ Xiaomi became the world’s most valuable tech startup‚ worth $46 billion. And last week’s blowout quarterly results for Apple were credited to just about everything—from consumers’ lust for big phones to Chief Executive Tim
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benefits the consumer in many ways. First is the price range they can pick from; second is the quality of the product and third is the model of the device using that specific OS and so on. I am enjoying this business because of the markets competition and the development of many different OS and devices (Technology is ruling the world). Working in technology field benefits me in one major way; I am always up-to-date on what comes out in the market and how the companies develop their operating system
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MARKET SEGMENTATION Identify and profile distinct group of buyers who might require separate products and/or marketing mixes. Market segmentation can be segmented in different ways. MASS MARKETING- is when the seller engages in the mass production‚ mass distribution \and mass promotion of one product for all buyers it is also create s the largest potential market which leads to the lowest costs‚ which in turn can translate into either lower prices or higher margins. LEVELS OF SEGMENTATION
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