Facts: Kramer Pharmaceuticals‚ Inc. was a major manufacturer of prescription drugs for the medical and dental professions. It had a sales force of over 500 detailers‚ whose primary responsibility was calling regularly on hospital personnel‚ doctors‚ and dentists to describe the product line and to persuade these medical personnel to use and prescribe Kramer drugs. After having worked at Kramer for 12 years‚ Bob Marsh‚ a detailer of the company‚ was fired for unsatisfactory performance‚ poor attitude
Premium Boss Change Leadership
Microeconomics and the Laws of Supply and Demand Your NAME ECO/365 July 6‚ 2015 INSTRUCTOR NAME Microeconomics and the Laws of Supply and Demand The simulation showed how a shift in the supply curve or the demand curve can lead to significant changes to the economic standing of the business. When the demand curve shifts downward or to the left it showed a decrease in demand from renters thus yielding less apartments rented. This happened when the new company who moved into the area had a higher
Premium Supply and demand
Main Factors affecting product pricing in the UK In the UK‚ there are factors which affect how a company chooses to price their products. This is known as product pricing. Having a good product pricing strategy is essential to maintain a high profit margin‚ creating brand loyalty or superiority and remaining competitive. We will discuss the factors affecting product pricing‚ to see why it is so important for firms to take into different factors and variables when deciding their product price.
Premium Supply and demand Pricing Microeconomics
Is Student Loan Debt Crippling Local Economies? Research suggests that increased student loan debt is creating a negative‚ ripple effect on local economies‚ because graduates are starting families later‚ buying homes later‚ and are repaying loan debt with their professional earnings rather than spending back into their local economy. About half of all students (49%) graduate college with a total debt count of over 30‚000 dollars in student loan debt alone. When you add all this debt together
Premium Debt
Price discrimination Price discrimination is the practice of selling the same product at different prices to different customers‚ when there is no difference in the cost to produce the product. Price discrimination is done to maximize profits. This occurs when market prices are set differently to different buyers‚ according to the willingness of each buyer to pay (demand curve) rather than setting a uniform price. It can be seen in the image below how if the seller kept the uniform price of Africa’s
Premium Supply and demand Marketing Economics
consultancy company active in Healthcare and Pharmaceutical industry. A structured interview questionnaire combined with company’ website review and literature researchs‚ allowed us to gain an insight
Premium Management Employment Human resource management
Nicholas Benyola Professor Mansourian Econ 201- 25 17 May 2012 Microeconomics Research Paper Minimum Wage In the United States‚ minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is considered a price floor and the minimum wage laws determine the lowest price possible that any
Premium Minimum wage Poverty
com/gallery/autos/2013/08/28/fiat-500l/index.html?iid=HP_Highlight Interpretation Microscale or Macroscale economy? The article deals with the microscale economics of the Fiat Corporation private cars industry with a special focus on the Fiat 500 series. Macroscale economy ramifications on the global automobile industry might propagate Fiat competitors to redesign their compact cars to become ergonomically more spacious. What‚ how and for whom? The article is locked upon one of the latest additions to
Premium Economics Opportunity cost Automotive industry
Economics Exam Review Chapters 2‚ 3‚ 4‚ 5‚ 6‚ 7‚ 8‚ 13‚ 14‚ 15‚ 16‚ 17‚ 21 Chapter 2: Thinking like an economist Scientific Method- Development and testing of theories about how the world works. This is applicable to studying a nations economy. * Theory and observation‚ economists collect and analyze data since experiments are often difficult in economics. * Economists make do with whatever data the world happens to give them * Natural experiments offered by history‚ considering
Premium Supply and demand Consumer theory
in an industry are determined and why firms enter and leave the industry ! Predict the effects of a change in demand and of a technological advance ! Explain why perfect competition is efficient The Busy Bee The busy bee pollinates plants and beekeepers rent their hives to farmers. Across the United States from Vermont to California‚ a parasite is killing off bees and the rent farmers pay for hives has more than doubled. How does competition in beekeeping and other industries affect
Premium Economics Supply and demand Perfect competition