Assignment: Marketing Management Act
• Should the government step in and set minimum price levels? Discuss the consequences of your answer.
• You've heard of a monopoly, but have you ever heard of a monopsony? A monopsony involves one powerful buyer and many sellers. The buyer is so powerful that it can drive prices down. An example is Wal-Mart, the world's largest retailer. Wal-Mart's power allows it to get the lowest possible prices from its suppliers. Similarly, wine-making giant E. & J. Gallo has so much power buying grapes that growers have to concede to the wine maker's demands for lower prices.
o Is it fair that a buyer can exert so much power over a supplier? Are there any benefits to consumers? Why or Why not?
o Explain the differences among styles, fashions, and fads and give an example of each.
• Name and describe the five stages of the product life cycle. Identify a product class, product form, or brand that is in each stage.
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.