Discuss to what extent you agree with the following statements. Advertising helps raise revenue for the firms and provides information to the customers; therefore, expenditures on advertising are justified.
Q: Which statement about their pricing plans is true? A Company A charges $25 a day more than Company…
A: Company B rental fee=Change in charge Change in number of days Service fee of company B=Total…
Q: Unlike a monopolistic firmʹs product, a monopolistically competitive firmʹs product a. is a unique…
A: Has many close substitutes because of many sellers.
Q: Explain how long-run adjustments impact perfectly competitive, monopoly, and monopolistically…
A: All factors and cost of productions are variable in the long run time period. The markets may take…
Q: Resorts give discounts to individuals who book in advance and stay over a weekend. Individuals who…
A: Pricing is the process through which manufacturers calculate what they will get in return for their…
Q: Advertising and sales promotions are ways of persuading consumers to match demand with products…
A:
Q: Explain at least five different “Functions of Marketing” to any local company of your choice.
A: Answer: Functions of Marketing includes the following points: Market research, before finalization…
Q: Which of the following is NOT an economic function of advertising? a) Facilitating competition b)…
A: Advertising plays an important role in the growth of an economy. Advertisement of a product shares…
Q: The elasticity of demand for a firm’s product is –2.5 and its advertising elasticity of demand is…
A: a) The own-price elasticity of demand for a firm is: EQ,P = -2.5 Advertising elasticity of demand…
Q: What is Price Discrimination? Charging individual customers, a different price for the same product…
A: Price discrimination is a strategy of selling commodities in the market where the producers charge…
Q: When the first Pizza Hut opened its doors back in 1958, it offered consumers one style of pizza: its…
A: Initially, the company launched the product in order to analyze the response of the customers as…
Q: Unlike a monopolistic firmʹs product, a monopolistically competitive firmʹs product a.has no close…
A: Monopolistic competition characterizes an industry in which many firms offer products and services…
Q: Which of the following statements is correct? a. In the long run, both perfectly competitive…
A: Excess capacity occurs when the output produced by firm is less than its efficient level of…
Q: Which of the following is a common criticism of advertising? а. It makes market entry easy. b. It…
A: Because notice the consumption of individually makes others to imitate them
Q: Resorts give discounts to individuals who book in advance and stay over a weekend. Individuals who…
A: Customers that have made reservations in advance If a group of people decides to spend the night at…
Q: Which of the following facilitates targeted marketing to specific consumers O Data mining Permission…
A: Permission marketing alludes to a type of publicizing where the target group is given the decision…
Q: The first step/stage of the market segmentation/ target marketing process is to: develop new…
A: The correct answer is C ‘segment the overall market into the identifiable market segment.
Q: true or false Consumers are generally worse off under competitive markets than under monopolistic…
A: In case of perfect competition, there are large number of buyers and sellers. The sellers sell…
Q: How would a monopolistically competitive firm determine its profit maximizing level of output and…
A: Definitions: Monopolistic competition describes an industry wherein many firms offer items or…
Q: Compared to a firm in perfect competition, in the short run the monopolistically competitive firm…
A: A perfectly competitive market is where several firms sell products that are identical. A…
Q: When the first Pizza Hut opened its doors back in 1958, it offered consumers one style of pizza: its…
A: Product differentiation is the strategy of developing goods and services with distinguishable…
Q: Healthy and Hearty Soups: Healthy and Hearty Soups produces a variety of soups. There is…
A: Concept: Monopolistic competition A monopolistically competitive industry is an industry where…
Q: The holistic marketing concept is based on the development, design, and implementation of marketing…
A: Coca cola have merged all their marketing goals into one single marketing goal which is happiness.
Q: identify customers, differentiate among customers, and interact with customers are A - steps of…
A: The given above steps like , Identify customers Differentiate among customers Interact with…
Q: List three key attributes of monopolistic competition.Draw and explain a diagram to show the…
A: Monopolistic Market: The market in which many firms exist and these firms sell closely related but…
Q: Because monopolistically competitive firms produce differentiated products, they will: Select one:…
A: Monopolistically competitive market is a market having some features of both competitive and…
Q: Which of the following is not ever considered a cost of advertising from society's perspective?…
A: Advertising makes a firm's product a differentiated product for the consumers.
Q: Which of the following gives the customers better products that are not offered by other…
A: Marketing: It means promotion and selling of goods and services which include market research and…
Q: When advertising increases brand loyalty for your company's brand, then the company's demand curve…
A: Brand loyalty means that if other new brands enter the market then also I will choose to buy this…
Q: An undifferentiated marketing strategy would include? * One marketing mix for each target market Two…
A: Marketing strategy is a long-run, innovative approach and an overall game plan of any organization…
Q: Q8. The similarity between Monopoly and Monopolistic competition is a) Free entry and exit of firms…
A: Monopoly and monopolistic both are part of the imperfectly competitive market in which the firms may…
Q: According to the figure above, what is the monopolistic competitor's profit-maximizing output?…
A: A monopolistic market refers to a market where number of buyers and sellers are present in the…
Q: Under monopolistic competition, firms produce________ a: products that are somewhat…
A: Monopolistic competition- It is an imperfect competition in which many sellers sell products…
Q: of buyers with distinct needs, cha might require separate marketing strategies or mixes A) Mass…
A: According to the Bartleby guidelines policy only first three subpart solve please post question…
Q: Microlith, Inc. operates in a monopolistically competitive market. Using an appropriate diagram,…
A: A market is said to be monopolistically competitive if there are many firms in the market. Under…
Q: Outline the economic factors that affect marketing decisions and consumer buying power.
A: There are many economic factors that affect the marketing decisions of a firm such as unemployment…
Q: In a market where firms are monopolistically competitive: Group of answer choices There is one firm…
A: Introduction Monopolistic Competition. It a market where many firm producing the similar product but…
Q: Question 5 Based on market research, a film production company (monopolistically competitive firm)…
A: It is given that this is a monopolistically competitive firm. We know that the monopolistic…
Q: In competitive market structure, firms earn zero economic profit in the long run but still remain in…
A: We will answer the first question since exact one was not specified. Please submit a new question…
Q: The process of differentiating different clusters of customers into smaller, homogenous groups…
A: The correct answer is B ‘Market segmentation’.
Discuss to what extent you agree with the following statements.
Advertising helps raise revenue for the firms and provides information to the customers; therefore, expenditures on advertising are justified.
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- The graph depicts the demand curve before advertising, DO, and the four possible demand curves that results from advertising. Which of the four demand curves depicts the two ways that advertising impacts demand?- D1 - D2 - D3 - D4Outline the economic factors that affect marketing decisions and consumer buying power.Which of the following gives the customers better products that are not offered by other competitors? Select one: a. Competitive advantage b. Branding c. Advertisements d. Marketing Strategy
- 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!Which 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 competitionFRONT PAGE Pricing Disney+ Disney decided it wanted to provide streaming services directly to customers, rather than renting its library of films and television shows to other streaming services like Netflix. But how successful would a streaming service be? In other words, what did the demand for a "Disney+" streaming service look like? Disney knew that the number of subscribers would depend not just on the attractiveness of the Disney archives, but also on the subscription price. After doing some market research, Disney decided to launch Disney+ at a price of $6.99 a month (or $69.99 per year). When Disney+ was launched on November 12, 2019, 10 million people signed up on the first day-a resounding success! Source: News reports, October-December 2019. Suppose Disney+ changes its monthly subscription price from $7 to $9 per month. Graphically show the impact of this price change in the following markets: a. Popcorn, pizza, and other movie snacks
- In advertising, a business is not only making consumers aware of the existence of the product and its positive features but is purposely trying to persuade consumers to purchase the product. As a piece of economics which of the following best characterises what advertisers are trying to do? (a) Shift the demand curve to the right and make it more income elastic; (b) Shift the demand curve to the right and make it less income elastic; (c) Shift the demand curve to the right and make it less price elastic; (d) Shift the demand curve to the right and make it more price elastic.In which type of market, monopolistic or competitive market, is the equilibrium market price lower? Why?Summarize the six components of a marketing plan.
- Who are our competitors? What are their marketing strategies?The diagram above shows a monopolistically competitive firm in the long run. Answer the questions below. Using the points displayed on the diagram, name the rectangular area that represents the profit or loss. What should the firm do regarding price and/or quantity to minimize its losses?As an entrepreneur, which graph illustrates the ideal brand loyalty you would like to see for your product, that is, the demand curve you would like to achieve as closely as possible? Product A Product B Price Demand Graph A Graph B Graph C Graph D Quantity Price Demand Quantity Price Product C Demand Quantity Price Product D Demand Quantity