Does marketing shape consumer needs and wants
Question: Does marketing reflect the needs and wants of consumers or does marketing shape consumer needs and wants?
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Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. Identify consumer surplus, producer surplus, and total surplus in an appropriate table.
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What are the implications of operating in the short run and the long run? As your business grows, how must you consider the issues regarding diminishing marginal returns and economies of scale?
If you were to develop a marketing plan for an existing company, which company would you choose and why? For instance, if you were picking Starbucks, what would be a new marketing plan that they could use?
Describe the relationship between technology, productivity, and costs. How has your firm used technology? What was the impact on productivity, costs, and profits?
Discuss ways firms establish barriers to entry and explain how they benefit firms but not consumers. Give an example of a law or regulation that limits the ability of firms to establish barriers to entry and an example of a law or regulation that
Identify an organization and recommend methods to reduce costs. What effects do technologies have on costs? What are some lower-cost sources the organization can utilize to reduce costs?
Write down the firm's profit function and the firm's long run profit maximisation problem. Find the firm's optimal use of input 1, input 2, the associated optimal quantity of the output, and the firm's profit level.
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