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Economic profit is an indication that consumers are willing to pay more for a good or service being offered.
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- Branding involves creating and communicating a unique image and theme for a product in the consumers' mind. Does successful branding increase Market Power? how and why?Information about Perfectly competitive marketWhich of the following is not ever considered a cost of advertising from society's perspective? Decreased government revenue Waste of resources Misleading of vulnerable people Decreased competition
- Study the evolution of any brand/company of your choice regarding its target market. In addition, also discuss how the brand/company differentiate and position its products/services to get the maximum competitive advantageFrom a marketing strategy and customer intimacy perspective, to what extent do you believe companies ‘know the business they are in?Advertising and sales promotions are ways of persuading consumers to match demand with products offered by sellers. Advertising can be informative or competitive. Explain the good and bad of advertising for society!
- True/ False Competitive market is efficient for the consumer.Given a description of a company's marketing mix, classify the elements of the marketing mix and the category of marketing.Generic strategy is a combination of competitive strategy and competitive scope in Broad and Narrow segments. Discuss when a company should employ a STUCK IN THE MIDDLE STRATEGY
- What does the skimming price strategy allow a company to do? quickly attract the entire market quickly test out the product quickly earn back its investmentTake into account the following: Do you think that ten to fifteen years ago, marketing technologies like Big Data and Predictive Analytics would have been successful? Is there a justification for this?Think about how marketing might have evolved ten years ago if big data and predictive analytics had been around. How come this is the case?
