Monopolistic Competition Of The Retail Industry A Look...

Monopolistic Competition in the Retail Industry: A Look at Fast Food From an economic perspective, the retail industry can be identified as having four distinct forms of competition: perfect competition, monopolistic competition, oligopoly, and monopoly. This paper shall examine those constructs briefly, and then discuss in depth, the concept of monopolistic competition in the retail industry, using fast food as an example. There are really limited examples of perfect or pure competition, whereby there is no one supplier big enough to have market power sufficient to set pricing for a product that everyone is selling. By way of example, one might look to a wholesale fish auction and the dozens of fishermen that present the same catch for auction at market each weekday morning. While some fish may vary as to grade, like Ahi or Yellowfin tuna, there is more likely than not, no one fisherman who can drive the market price for tuna on any given day. In this fairly pure competition construct, there can be many buyers and sellers, and minimal barriers to entry or exit from the market. Monopolistic competition also features an abundance of sellers, as in the example above, but not all products are necessarily identical, as might be the case with raw yellowfin tuna. Products under this competitive construct may differ slightly or be perceived as being different, even though they actually are not. Product differentiation could occur through quality, location, brand name, priceShow MoreRelatedThe First Era Of Industrialization1625 Words   |  7 PagesIn the 1760s, the United States began its first major period of rapid industrialization. Everyday there was a new factory built, a new machine created, a new industry expanded. The effect of industrialization was so massive that even songs were written about this period. One song depicted a man who could â€Å"hatch eggs by thousands; all by steam†.[1] With more factories and more efficient means of production, more commodities became available to the public for consumption. The first era of the industrialRead MoreA Microeconomic Analysis of Indian Retail Industry3316 Words   |  14 PagesMODERN RETAIL MICRO ECONOMICS PROJECT REPORT ABSTRACT The growing number of modern retail outlets in India on the one hand and frequent sale seasons and talks of underperformance on the other point to a mixed bag and make us wonder whether the sector is on the right growth trajectory. In this report, rather than providing with just the facts, we have tried to understand the modern retail sector from an economist’s point of view and visualize its future-whetherRead MoreMarketing Report on Tata Tea4053 Words   |  17 PagesSTRUCTURE The number of firms in an industry or those supplying substitute products affects the strength of competition. The competitive structure in which Tata Tea is operating is Monopolistic Competition. Features of Monopolistic Competition structure are as follows: Many firms compete with one another. Each firm has a relatively small market share. The tea market is highly consolidated in In.dia, with HLL and Tata Tea accounting for almost half of retail value sales. According to theRead MoreBusiness Model And How Their Succes Has Affected On The Corporate Social Responsibility2014 Words   |  9 PagesNowadays there are many successful companies in the world, but the fact is that Walmart Inc. is the most competent in their industry. Their strategies and business model have led them to achieve success and make them the worlds largest retailer. In this essay I will analyze Walmarts business model and how their succes has affected to the Corporate Social Responsibility. First of all, what does Corporate Social Responsibility means? When we are talking about corporate responsibility, we talk aboutRead MoreFactors Affecting Market Share of Retailers15007 Words   |  61 Pagesfamily use. Retailers are the final business in a supply chain that links manufacture to consumers. According to Kotler and Armstrong (2006) a retailer is a business whose sales come primarily from retailing. Although most retailing is done in retail stores, in recent year’s non stores retailing has been growing much faster than has store retailing. Non store retailing include catalogs, telephone interest, TV home shopping shows, home and office parties, door-to-door contact, vending machinesRead MoreChekcers: The Gap between The Seller and The Buyer2413 Words   |  10 Pagesdistribution centres and the retail stores and thus the consumer. According to Shoprite Holdings Ltd on their website; the fleets of trucks operate 24 hours a day and seven days a week, which get the product to the customer quicker. Shoprite states they have a â€Å"highly sophisticated transport route planning and scheduling system† which improves store deliveries. This effectively closes the space gap between the checkers and the consumer. As checkers is a food retailer, and food is perishable, there isRead Moremkt311 tb chap13 Essay34179 Words   |  137 PagesDiana feels it is time she had a 20% increase in her salary. If Diana takes this increase in compensation, it will decrease the breakeven quantity of gowns she needs to sell on a monthly basis.      True  Ã‚  Ã‚  Ã‚  False    17. If a firm is engaged in monopolistic competition, it should seek a way to differentiate itself.      True  Ã‚  Ã‚  Ã‚  False    18. When Sony released their PlayStation 3 game machines, they charged a high price, attracting the most avid game players. This was a market penetration pricing strategy.  Read MoreStarbucks vs Dunkin Donuts4794 Words   |  20 PagesTable of Contents: 1. Introduction 3 2. Industry Overview 3 3. Competitive Landscape 3 4. Industry Lifecycle 4 5. Industry Trends 5 6. Macro Environment Impact 6 7. Porter’s Five Forces 7 8. Starbucks Company Overview 9 9. Starbucks SWOT 11 10. Starbucks Balanced Scorecard 15 11. Dunkin Donuts Company Overview 15 12. Dunkin Donuts SWOT 16 13. Dunkin Donuts Balanced Scorecard 19 14. Conclusions 21 15Read MoreSmuckers6894 Words   |  28 PagesSmucker Company has been able to survive over a century as a result of their diverse portfolio, which include products such as: fruit spreads, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk and health and natural foods and beverages SMUCKER S - THE J.M. SMUCKER COMPANY (coffee, sports drink mixes, lemonades). J.M. Smucker Company have acquired the following 3 companies and brand names: Mary Ellen (jams and jellies) 1963, Dickinson s (gourmet preservesRead MoreShopping Malls5817 Words   |  24 Pageszones. 4 Advantages of shopping malls: ï‚ · ï‚ · ï‚ · ï‚ · Increase in the growth of the organized retail sector Monumental increment in economic growth Employment generation by the organized retail sector Good competition means better products services Disadvantages of shopping malls: ï‚ · The companies with superior resources would muscle out the ones inferior to them. ï‚ · Monopolization of the organized retail sector In India, the emergence of shopping malls has mostly altered the lifestyle of the consumers

The Effects Of Climate Change On The United States

Over 14 billion dollars have been spent on levees in New Orleans , yet hurricanes continue to cause damage. As storms continue to grow stronger, that figure will continue to rise. Though the destruction of climate change can be seen globally with storms, wildfires, and oil depletion, Popular support for environmental movements and policies is minimal. The numbers needed to make a difference are not there. From 2008 to 2010, the number of Americans who believed in climate change dropped to 57%. While shocking, there is an array of psychological reasons for the lack of support. Ordinary citizens are shying away from environmental efforts due to knowledge, perspective, and money. It is hard to image someone being unaware in a world with knowledge readily available at his or her fingertips. Sadly, the general populace tends to be ignorant of the realities of climate change. Most know, to some degree, that climate change is real, but many do not know the cause. Very few people are able to identify carbon dioxide emissions as the primary anthropogenic source of climate change. Dropping, the number of those who feel human activity is the source of the problems is only 47%. Not surprisingly, those that could identify the causes were more likely to support climate related policies . The other major issue is that people tend to be misinformed. Knowing about climate change is good, but only if the sources are valid. News stations, for example, may not be a good source for theShow MoreRelatedThe Effects Of Climate Change On The United States1583 Words   |  7 PagesThe Discordant Applications of the Common But Differentiated Responsibilities Doctrine as a Hindrance to Climate Change Policy Climate change looms large over our rapidly growing and continually changing world. No longer are the adverse effects of this menacing global issue a mere ominous projections, they are starting to become a very concrete reality. Countries are today experiencing rising sea levels, which compromises coastal infrastructure, prolonged drought, squeezing food supply and agriculturalRead MoreThe Effects Of Climate Change On The United States1131 Words   |  5 PagesOur climate plays an important role in human societies and affects agriculture, ecosystems, our natural environment and our health. Human activities such as pollution and deforestation, has changed the climate as a whole, leading to an increased amount of greenhouse gases such as carbon dioxide to enter the atmosphere. The effects of this has led to higher sea levels, loss of sea ice and an increase in heat waves across the globe. A recent report released by the Environmental Protection AgencyRead MoreThe Effects Of Climate Change On The United States1397 Words   |  6 Pagescontinued growth of GHG emissions could cause global average temperatures to increase by another 4 °C or more by 2100 and by 1.5 to 2 times as much in many midcontinent and far northern locations (1). Although our understanding of the impacts of climate change is increasingly and disturbingly clear, there is still debate about the proper course for U.S. policy—a debate that is very much on display during the current presidential transition. But putting near-term politics aside, the mounting economicRead MoreThe Effects Of Global Climate Change On The United States1428 Words   |  6 Pagesidea of global climate change is like saying that they do not believe in science. About 200 nations, including the United States, have all come to the conclusion that climate change is indeed a real and that we, human-beings, have become respo nsible for finding a solution to this precarious situation that we have put ourselves in. However, there is still a small population of people that believe that there is nothing we can do to forestall the destructive effects of global climate change. To retractRead MoreThe Effects Of Climate Change On The United States Current President1852 Words   |  8 Pagesideas of climate change in 1896 (Weart 34). Some of these basic ideas were the causes of climate change, such as the greenhouse effect (Anttila-Hughes, Oppenheimer 11). At this point in time, this was all new research which influenced others to continue the research on climate change. As time progressed, more and more people began to believe in the effects of climate change due to the large amounts of research done since Arrhenius introduced the issue (Weart 34). Nowadays, the idea of climate changeRead MoreIn Contrast To The Views Of Mcmichael And The Usgcrp, Emeritus1126 Words   |  5 Pageslocated in the Stanford Univ ersity, Thomas Gale Moore, published a book in 1998 refuting any belief that climate change will have severely negative effects on human health. He is well-versed in economics, which is why it is not surprising that the second half of the book discusses the economic side of climate change. Nevertheless, the way of gathering information on climate change’s effects was fairly new in the late nineties and what little data that was gathered was speculated on by Moore. MooreRead MoreGlobal Issues Of The 21st Century Essay1400 Words   |  6 Pagesthe contribution of humans to climate change. To understand human impact on the Earth it is crucial to understand the basic climate science of glacial periods and the greenhouse effect. For its entire lifetime, the planet has gone through cycles of glacial advance and retreat. More simply, the Earth warms and cools in cycles, the last of which we call the Ice Age. These cycles are completely natural, expected, and simply a part of life on Earth. The greenhouse effect directly explains how this warmingRead MoreClimate Change Is An Effect Of Human Action983 Words   |  4 PagesClimate change has been a growing problem over the past few decades, which is hurting our Earth, therefore, hurting humanity. With the help of big name companies lowering their emissions and developing and developed countries putting effort into helping the cause, it is possible to reduce the speed at which this global problem is happening. This is a real problem and it must be stopped. Countries all across the world, developed and developing alike, must carry the burden of mitigating climate changeRead MoreConsequences Of Climate Change On Food Systems1342 Words   |  6 PagesThe agricultural sector in the United States contributes largely to both rural and national social and economic development; however, it is greatly affected by climatic changes. As the world population is expected to increase up to approximately nine billion by 2050, climate c hange affects the stability of food production and poses food security challenges in the US (Hatfield et al. 2014). Smith et al. 2013, argued that negative impact of climate change on agriculture have a direct impact on globalRead MoreClimate Change And National Security1295 Words   |  6 PagesTopic: Climate Change and National Security For centuries the United States Military has addressed the many challenges of national security, from fighting for the foundation of America in the Revolutionary war, to the containment of terrorism and Islamic extremism in recent years, but now global climate change presents a new and very different type of challenge to national security. The stability of the world’s climate that has enabled human civilizations to grow and flourish over the last five thousand

Entrepreneurship Markets & Morality

Question: Discuss about theEntrepreneurshipfor Markets Morality. Answer: Introduction The growth of health issues and other factors are making the demand for cleanliness to increase. Every induvial and organizations prioritize being smart and clean (Russo, 2010). This means more cleaning service organizations need to be established to cater for the growing demand. Johor Bahru, Malaysia has been growing in various perspectives that have led to increase in the demand for cleaning services and I believe establishing an enterprise which offers these services will play a significant role in improving the level of cleanliness for individuals and organizations which value it. The reason why Johor Bahru is ideal for this business is because the numbers of current businesses which provide this type of services do not match the current demand, and they have not also understood the consumer expectations. My Purpose The reason why I would like to venture in this type of business is because I have realized there is a gap which needs to be filled in this sector. As time goes on, people are becoming prone to new diseases which emerge each day; organizations, on the other hand, are seeking to improve cleanliness so as to enhance their image to the public. This means there is an increase in demand for the professional cleaning services. Starting this kind of business will make people who seek for good cleaning services to get them because one of the core values of this enterprise will be offering high-quality services which can meet the customer expectations. My business will emphasize on using advanced technology and best detergents to ensure best services are delivered to the customers. Establishing this venture will also contribute towards economic growth because it will be legally registered enterprise (Jane, 2013). One of the ways it will contribute in the economic growth is paying tax. It will also play a role in offering job to the youth. As time goes on, the job market is becoming flooded and therefore opening this type of business will assist in addressing this problem. My Dream Business This business will majorly offer cleaning services in Johor Bahru, Malaysia and will expand its services to other parts of the country as the business continues to grow. The reason why this strategy will be used is because the enterprise will start as a small business because of various factors like the planned startup capital and other resources. Some of the services offered will include window cleaning, floor cleaning, and carpet cleaning among others. The business will majorly target two market groups: consumer and commercial. The consumer group will primarily consist of residential maid services. For this group, the enterprise will offer carpet and window cleaning along with other cleaning services required on a less-frequent basis. In the commercial market, the business will offer a wider variety of services along with other companies which target enterprises rather than individual consumers. Assessing Existing DreamBusinesses The current businesses have not yet known the changes in consumer perceptions towards cleaning services. Currently, customers are looking for quality, not just the services (Catherine, 2015). Some of the existing businesses which provide these services in Johor Bahru, Malaysia are far away from perfection. For example, some of them are using outdated cleaning machines which end up compromising the quality of their services. Others use low-quality detergents which leave stains or bleach floors, curtains, and windows. My business will be unique in its own way because it will emphasize in innovation and technology to enhance quality. The current cleaning businesses are yet to realize that the demand for cleaning services have increased significantly (Vincent, 2012). They have not yet expanded their businesses to match this demand. This means demand is high and supply is low. This situation is making most of the customers to seek these services from unqualified people. Market Analysis The cleaning market has been growing in the recent years. The reason which has triggered this growth is the fact that people have understood one of the primary factors of enhancing health is by remaining clean (Orly, 2010). The growth in demand has created a gap which can only be filled by new companies entering in this sector. This means introducing this kind of business will help the customer attain high-quality cleaning services, hence satisfying their demand. As time goes on, competition is becoming rampant in this sector. This competition is triggered by more companies entering the market to address the growing demand (Bruce, 2015). This competition comprises of both large and small companies which provide cleaning services to different types of consumers within the town and its outskirts. From analysis, there are some of the enterprises which are already in the market, providing various cleaning services which my business aims to provide. Some of these enterprises include; mama love, bro sis cleaning services, Sparkline cleaning services, Suncorp cleaning, CC cleaner services JB among others (Hess, 2011). Because these competitors have been in the market for a while, they know trends concerning consumer purchasing behavior, and therefore good strategies will be used to assist my business in overcoming the competition related challenges. My business will be committed to attaining a competitive advantage through ensuring it provides services which can meet customer expectations. This will be attained through using the modern technology and inventing the best strategies of providing high-quality cleaning services (Mihaela, 2016). The business will gain its profit through offering various cleaning services like floor cleaning, carpet cleaning, window cleaning, curtain cleaning and so forth. The profit will be obtained by subtracting the operational cost from the money received from customers for the services. My target market will be organizations and individuals who seek for professional cleaning services within Johor Bahru, Malaysia. The business will analyze customer needs and develop strategies which can address those needs in the best way. Some of these strategies will include coming up with unique services which can enhance differentiation, targeting the right customers and coming up with the best pricing strategies. For differentiation, the staff members will be trained to ensure they provide unique services to enable the customers to differentiate them from those of competitors. This will be attained through using scientific methods to determine the effectiveness of our cleaning services. For the targeting strategy, the business will mostly target the customers who value getting cleaning services from professional within the town and its outskirts. The business will also charge fair prices which will lead to profitability and assist the business in attaining competitive advantage. Conclusion Because this will be a new business which will start as a small business, good management styles will be used to ensure it survives in the market. This will include ensuring the services offered matches the customer expectations, employees are trained to improve their cleaning skills and ensuring all business resources are well utilized. The business will be growth oriented through using some of the profit earned to promote growth. To survive in the competitive market, the business will use proper marketing strategies like promotions, differentiation, good pricing, targeting the right customers and segmenting the market in a manner which can assist the enterprise to learn and address the customer needs. Bibliography Bruce, B., 2015. Entrepreneurship as a Sign of Common Grace. Journal of Markets Morality, 18(1), pp. 78-90. Catherine, R., 2015. "Help, I Have Too Much Stuff!": Extreme Possession Attachment and Professional Organizers. The Journal of Consumer Affairs, 49(20), pp. 45-90. Hess, E., 2011. Growing an Entrepreneurial Business: Concepts and Cases. Stanford, CA.: Stanford Business Books. Jane, E., 2013. Working toward Employment: Preparing for Tomorrow and Beyond. Journal of Visual Impairment Blindness, 107(6), pp. 14-34. Mihaela, I., 2016. Entrepreneurship Evolution in Terms of Economic Development Stages.. Global Economic Observer, 4(2), pp. 44-89. Orly, N. S., 2010. The Speech of Services Procurement: The Negotiated Order of Commodification and Dehumanization of Cleaning Employees. Human Organization, 69(3), pp. 45-102. Russo, M., 2010. Companies on a Mission: Entrepreneurial Strategies for Growing Sustainably, Responsibly, and Profitably. Stanford, CA: Stanford Business Books. Vincent, L., 2012. Brand Real: How Smart Companies Live Their Brand Promise and Inspire Fierce Customer Loyalty. New York: American Management Association.

Music, Health and Wellbeing Essay Example For Students

Music, Health and Wellbeing Essay Several studies show that patients health in various populations improved by practicing music therapy (Nonvoter, 2013), which has been widely practiced in remedying numerous, different afflictions such as pain, stress, chronic mental illness, dementia, cardiac disease, cancer, drug abuse, Parkinson disease, formability and potentially even Alchemists. Both musical artifacts and musical performances (such as performing relationships) are explored and considered as possible ways for achieving health and well-being (Baker, 2013). Music therapists can practice music therapy with one or more than one patient, commonly in the form of songwriting, lyric substitution, improvisation, singing, music listening, instruments playing, etc. By exploring sound vibrations, Parkinson patients led to improvements in symptoms, including less rigidity and better walking speed with bigger steps and reduced tremors (Amenorrhea alteration, 2009). L think music in itself is healing. Its an explosive expression of humanity. Its 3 something we are all touched by. No matter what culture were from, everyone loves music. Said by American musician Billy Joel (Andy, 2011). Compared to music therapy twenty years ago, musicians are a new population of music therapy patients. A music therapist can use music psychotherapy to help musicians with needs related to the music profession. Besides helping achieving health, music also plays a to smarter people is not based in evidence, Mozart is a stimulus affecting emotional states, which may influ ence performance in measures that test cognitive ability. According to multiple studies, childrens intellectual developments can be positively enhanced by learning instruments. Baker, 2013). With all the countless benefits, music still has some negative effects. Substantial internalizing symptoms may increase due to maladaptive listening in some circumstances (Baker, 2013). Also, the research about the link between the music of youth subcultures and well-being shows there are potential links between music and delinquency and self-harm. However, other factors like personality or family dysfunction, may have higher influence than listening to music. Comparing to verbal language, music heals and is also one of the most powerful instruments to those who only use nonverbal communication.