...Basic Analysis of a Tariff Introductory Notes and Caveats These notes focuses mainly on mechanics, and getting comfortable with a model that we can use to picture the effects of different kinds of import restrictions on particular markets. We will concentrate on the policies of tariffs and quotas. In this discussion, the question you should always be able to answer is “who benefits and who suffers from this policy?” You may notice that when we analyze tariffs and quotas we are applying microeconomic tools, looking only at markets in individual goods and not at the big picture of overall trading patterns. This is because in order to focus in on a few questions we have to make tons of simplifying assumptions. One of those assumptions is the economist’s favorite ceteris paribus (“other things being equal”), which is the convenient assumption that we can look at changes in one market while assuming that everything else in our economy is not changing. (Note for example that in Ricardian trade theory we do assume that one market affects another, when productive factors from one industry move into another industry.) We also bring over a lot of other simplifying assumptions from neoclassical micro, such as the assumption of perfect competition in domestic industry. So beware: these are starkly oversimplified models that are useful because they help us think about issues. But be careful about naively using the results from a model as a guide to policy. The core intuition of this...
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...This idea of a mouse trap that can catch mice and not make a mess and is easy to set up is attractive to everyone. While the case states that women are the target market, I feel that men can like this product as well. The trick is marketing it the right way. It seems that the major problem is a huge lack in advertising. The cases states that she is very successful at the National Hardware Show in Chicago, but its seems that nobody cares that Trap-Ease mouse traps won the Best New Product Award or that it got good press from the show. What Martha House needs to do is go back to the drawing board and stop investing so much of her budget in these stupid hardware shows. She even says it doesn’t help her much. It’s probably because nobody cares about a hardware show. Before reading this case I didn’t even know that they had hardware shows. So you need a way to connect to people other than just going to hardware shows, where the only people that are going to be there are people who are enthusiast in hardware, which I assume is a very small percentage of people who buy these mouse traps. The case mentions how she wants to target women, since consumers like less of a mess and is easy to set up. Do you think women are going to be a Hardware shows? I feel her whole marketing strategy is not thought threw well enough. Why doesn’t she spend more money on ads? I don’t understand how she can only spend $10,000 on Advertisements and $60,000 on travel cost to these hardware shows that nobody...
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...Individual Research Report Consumer Behaviour Naveed Mohammed 300765975 Prof. James Quance Business Communications 2 BUSN 733 13 Nov ‘13 ------------------------------------------------- Executive Summary This report discusses consumer behaviour in detail. Consumer behaviour refers to the buying behaviour of individuals and households that buy goods and services for personal consumption. All of these final consumers combine to make up the consumer market. Consumers around the world vary tremendously in age, income, education level and tastes. They also buy an incredible variety of goods and services making both simple and complex purchase decisions every day. The Cultural, Social, Personal and Psychological factors that affect consumer behaviour are discussed in detail. The consumer decision process which consists of Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision and Post Purchase Behaviour are then studied. A Consumer Analysis follows where questions like “Who buys and uses the product?”, “What consumers buy and how they use it?” and “Why consumers prefer a product?” are answered. A brief conclusion wraps up the report which states how Marketers study consumer behaviour to find answer to most questions that help them design marketing strategies to reach consumers more effectively and build long lasting relationships. Table of Contents Introduction | | 1 | Factors influencing Consumer Behaviour | | 1 | ...
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...María Fernanda Herrera 15023228 Marketing in China Professor: Hongxing FINAL PROJECT “Four moments of truth: toothpaste” 2015/06/09 Table of Contents Introduction 3 History Toothpaste history in China4 Colgate History 4 Four moments of truth5 Marketing research Observation 7 Interviews 10 Insights 24 Conclusion 25 References 27 1. Introduction Colgate-Palmolive Company is a multinational firm that is focused on the production, distribution and provision of household, personal products and health care. In this case we focused in a specific product that is the Colgate toothpaste. The project is based in a detailed research about the impact that Colgate is having in the Chinese market with this product and the consumer reaction. To have a more complete idea of how Colgate could improve in the Chinese market. We based our research in the four moments of truth that the consumer experience with the product. Where we studied the interaction that the costumer has with the toothpaste, through interviews and observations. 2. History Toothpaste history in China Toothpaste most likely originated in China, Egypt, and India more than 6,000 years ago. In China, twigs and bones were mashed and mixed with water, salt, and flower petals to form a thick paste. This paste was then put on the end of a sharp bamboo leaf and applied to the teeth. This proved to be a very effective treatment for gingivitis. In Egypt, manuscripts from the 400s...
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...Effect of Brand Image on Consumer Purchasing Behaviour on Clothing: Comparison between China and the UK’s Consumers By Kwok Keung Tam 2007 A Dissertation presented in part consideration for the degree of “MSc International Business” Table of Content Page numbers Abstract i Acknowledgements ii Chapter 1: Introduction 1.1 The importance of brand image on fashion clothing 1.2 Background information of China and the UK clothing markets 1.2.1 China clothing market 1.2.1.1 Chinese spending habits 1.2.1.2 Impediments to China’s clothing brand development 1.2.2 UK clothing market 1.2.2.1 British spending habits 1.2.2.2 Characteristics of the UK clothing market 1.3 Theoretical framework 1.4 Objectives of the dissertation 1.5 Outline of the dissertation 1 1 2 2 3 4 5 5 6 7 7 8 Chapter 2: Literature review 2.1 Introduction 2.2 The important roles of brand 2.2.1 The characteristics of successful brands 2.3 Brand equity 2.3.1 Brand awareness 2.3.2 Perceived quality 2.3.3 Brand loyalty 2.3.4 Brand association 2.4 Consumer buying behaviour 10 10 10 11 12 13 15 16 17 19 2.4.1 Models of consumer behaviour 2.5 Summary 20 23 Chapter 3: Methodology 3.1 Introduction 3.2 Theoretical backgrounds 3.2.1 Review of different research traditions 3.2.2 Quantitative versus qualitative analysis 3.2.3 Reliability and validity of data 3.3 Justification of research method 3.4 Sampling 3.5 Interview schedule 3.5.1 Stage one 3.5.2 Stage two 3.5.3 Stage three 3.6 Administration...
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...Guidelines for Addressing Case Topics FRAMEWORK FOR ANALYSIS SITUATION ANALYSIS The Situation Analysis involves analyzing a number of internal and external factors. Important internal factors to analyze include the organizational structure, the resources at hand, and the personalities involved in the decision- making. Externally, you should analyze the organization's positioning relative to the competition, the size and characteristics of various target audiences, consumer attitudes toward the product or service, the nature of the purchase/consumption function, the salient attributes of the product or service, and the threats versus opportunities posed by the various elements of the environments (i.e., social, political, legal, technological, and economic). Secondary sources should be used for this section of your paper. Assumptions based on logic may be appropriate, if stated as such. Remember, an advertising manager will never have ALL the information he or she would like in order to make a decision. A. External Environment 1. Relevant economic, social, political, legal, technological trends 2. Nature and extent of demand a. demand elasticity b. size of the market 3. Industry structure a. entry/exit barriers b. competition 1) nature of competition 2) profile of competitors (background, resources, etc.) ...
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...------------------------------------------------- TIVO --- CONSUMER BEHAVIOR ------------------------------------------------- TIVO --- CONSUMER BEHAVIOR PRESENTED BY: Syed Intisar Haider PRESENTED BY: Syed Intisar Haider Q 1 According to Keast, “there is a mystery in the sharp contrast between the inertia of prospects and the evangelical zeal of TiVo users.” As an emerging expert in consumer behavior how would you tackle that mystery? What do you think could be going on? Beyond your pet hypothesis, try to be creative and list a large number of conflicting hypotheses by taking multiple points of view. What might “evangelists” mention as a cause of their failure to sell TiVo to their friends? What might a “couch potato” say about his reluctance to buy TiVo? What would you expect a top executive at NBC to say about the situation? What explanation would the founder of TiVo love to hear? Hate to hear? Hypothesis * Resistance to technology * Fear of technology * Though people have tendency to buy but willingness and ability to buy are different * Pricing * Survey questionnaire was not up to the mark that addresses the exact demand of people * Survey was not surveyed in the proper sample population * Didn’t addressed the target market * Market Segmentation. * Underestimated the audience. * Existing Cable industry DVR and TiVo seems to be equivalent * Word of mouth—plays a vital role in making good or bad perception *...
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...An Analysis of Toro Corporation’s S’No Risk Program Risk analysis from the point of view of Toro: Toro bears relatively minimal risk on this S’No risk program the year they ran it, as the most they are going to pay-out to the insurance company in 1983 is around $680K, while in-turn profiting $106K. (Bell, 2004). The year they ran the promotion, a confluence of elements came into play: the insurance company erroneously quoted them 2.1% of the retail value of the snowthrowers covered; the snowfall was significantly higher than the year before, but because of this premium cap by the insurance company, it did not lose its shorts on its liabilities. Additionally, they did not have to pay vendors the 10 percent discount they normally did in the fall. That was an increase of 8% in profit for Toro, plus the vendors and consumers were delighted. Risk analysis from the point of view of the insurance companies: American Home Assurance carried the most risk. According to the case study, they agreed to meet all claims from the program for only 2.1 percent of the retail value of the snowthrowers covered (Bell, 2004). The total number of rebates that year of the promotion was 19 percent. While Toro, hedged its losses, American Home ate 17 percent of the cost of rebates. If Toro were to continue the program it would increase the premium to 8% of the total sales, which amounted to an average of the last four years of actual payouts by Toro (Bell, 2004). American Home would try to...
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...TruEarth Healthy Foods CASE STUDY 1. Read, reflect on and analyze the company situation within the context of a changing wine industry. 2. Think about an outline all of the external, internal, competitive, market, and consumer factors, changes and trends affecting Mondavi in their business model. 3. Analyze Mondavi on the industry using the tools you now know of, such as SWOT analysis, factor analysis, competitive matrices and Porter's five forces. What are your conclusions about competitive position and options for future growth? To answer: 4. Why was Cucina Fresca pasta successful? First of all, because it’s healthy. Also it’s easy to cook, it’s fast and tasty (in comparison with pasta of another companies). Package has size for one time meal and right proportions of sauce and pasta. Each package has simple instructions for cooking process. For people who care about health and don’t have time to cook – it’s the best option. And on the market only two companies which provide this product. 5. How would you compare the pizza opportunity to that for pasta? I think that here can be two options: huge fail or more or less success. When company launched fresh pasta it was something completely new and thus huge success and large consumption. But pizza is completely different. It’s can’t be healthy food, so people can be interested in it and in case of good taste it can be successful, but with more possibilities it’s not going to be as good as it was with...
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...1.1 Marketing process is the process where the company start analyzing and identifying the potential opportunities of the company selecting the target market, and managing the marketing effort. Marketing process is a series of actions and reactions between the customers and the company. The steps of the marketing process are: Analyzing marketing opportunities It is the first step of the marketing process, and the main goal here is to analyse what kind of opportunities can you have is the market and to identify the customer’s needs and wants and try to satisfy them. This step is useful to understand the environment in which the company is operating and to analyse the long- run opportunities in this market. Marketing analysis is indispensable because it allows the company to get enough information about the competitors, costumers, government, and changes in the environment to be prepared and decide and determine what are their opportunities, Selecting target markets Now the company knows how is the market they will deal, they must be customer centred; they have to know what they want and start competing the costumers with the competitors, but they need to know specifically who are they customers. This process is called market segmentation and is the process where the company define and divide the market into different and smaller groups with different needs and behaviour. And market targeting is the processes of analyse and select one or more of the markets segments...
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...School of Economics CDAM Research Report LSE-CDAM-2001-09 October 8, 2001 Contents 1 What is game theory? 2 Definitions of games 3 Dominance 4 Nash equilibrium 5 Mixed strategies 6 Extensive games with perfect information 7 Extensive games with imperfect information 8 Zero-sum games and computation 9 Bidding in auctions 10 Further reading 4 6 8 12 17 22 29 33 34 38 This is the draft of an introductory survey of game theory, prepared for the Encyclopedia of Information Systems, Academic Press, to appear in 2002. ∗ 1 Glossary Backward induction Backward induction is a technique to solve a game of perfect information. It first considers the moves that are the last in the game, and determines the best move for the player in each case. Then, taking these as given future actions, it proceeds backwards in time, again determining the best move for the respective player, until the beginning of the game is reached. Common knowledge A fact is common knowledge if all players know it, and know that they all know it, and so on. The structure of the game is often assumed to be common knowledge among the players. Dominating strategy A strategy dominates another strategy of a player if it always gives a better payoff to that player, regardless of what the other players are doing. It weakly dominates the other strategy if it is always at least as good. Extensive game An extensive game (or extensive form game) describes with a tree how a game is played. It depicts the order in which...
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...solve a game of perfect information. It first considers the moves that are the last in the game, and determines the best move for the player in each case. Then, taking these as given future actions, it proceeds backwards in time, again determining the best move for the respective player, until the beginning of the game is reached. Common knowledge A fact is common knowledge if all players know it, and know that they all know it, and so on. The structure of the game is often assumed to be common knowledge among the players. Dominating strategy A strategy dominates another strategy of a player if it always gives a better payoff to that player, regardless of what the other players are doing. It weakly dominates the other strategy if it is always at least as good. Extensive game An extensive game (or extensive form game) describes with a tree how a game is played. It depicts the order in which players make moves, and the information each player has at each decision point. Game A game is a formal description of a strategic situation. Game theory Game theory is the formal study of decision-making where several players must make choices that potentially affect the interests of the other players. 2 Mixed strategy A mixed strategy is an active randomization, with given probabilities, that determines the player’s decision. As a special case, a mixed...
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...Australian Brasserie Consumers Q1. For this case, involving some exploratory research, Exhibit 12a and 12b show the segmentation and descriptor variables used to collect data for the segmentation analysis. Comment on the appropriateness and comprehensiveness of these attributes. What would your team change in this questionnaire and what other segmentation and descriptor questions would you recommend to ask to respondents for a better segmentation and targeting strategy? 1.) The comprehensiveness and appropriateness in the data from exhibit 12a and 12b for the segmentation analysis are very accurate and on point. The questions asked in exhibit 12a, the segmentation variables, are really right to the point and they are getting as much information as possible form customers about their knowledge of fashion. Also, exhibit 12a segmentation variable questions are very helpful because they are finding out important information from the customers to help target their preferences with bras, as well as great information on how to better market for their bras. Exhibit 12b, descriptor variables, is also appropriate because it helps with targeting different segments of customers specifically. Also, this information helps to specify how to market, when/where to market, and to whom to market different information to different segments of customers. - My team would change from the questionnaire a few things that could help impact the segmentation analysis. The questions from...
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... Pampered Chef offered its products for sale at Target in the past, but since the independent sales people build their own businesses and their incomes from sales of the same products, most of them were extremely upset with Pampered Chef, because they were essentially taking money right out of their sales' people's pockets. Pampered Chef ended up pulling its products and reverting to direct sales. Do you think the risk of upsetting and/or cannibalizing the direct sales force is worth the increase in revenues that would be realized by selling through other channels? What are some of your ideas for an approach that would allow CUTCO to capture that untapped revenue without negatively impacting its direct sales? (Post is Unread) Thread: Post: Author: CUTCO analysis CUTCO analysis Posted Date: Status: February 22, 2016 8:05 PM Published Ivan Martinez 1. I personally cannot recall buying a product though a direct selling method. But one of my aunts sells Princess House cookware directly. She began selling soon after she attended a selling party she was invited to, and has been selling for a few years. I have gone to a few of her sales parties and the technique she uses the most is social and demonstration. She will gather friends and people interested in the...
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................................................................................................ 1 Internal analysis ................................................................................................................................... 1 External analysis .................................................................................................................................. 2 Competitor analysis ............................................................................................................................. 3 Consumer analysis ............................................................................................................................... 4 Conclusion ........................................................................................................................................... 5 Perspective ........................................................................................................................................... 5 Bibliography ..................................................................................................................................................... 6 Introduction Motivation: Anthon Berg (henceforward referred to as AB) is Toms Gruppen A/S’ (henceforward referred to as Toms) primary export product and is seen in various tax-free shops in different airports, which is why AB already is an international well-known brand. Sales of chocolate confectionary in the UK market are expected...
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