I turned in Assignment 5 for MGT5001 Economics and the Modern Manager yesterday. This assignment included (just like all the others) a discussion question and a paper. The discussion question was:
How is it possible that a firm in a perfectly competitive market is able to sell all it wants without having to change the price? What does this tell us about the elasticity of demand faced by the firm? and the paper was:
Compare and contrast managerial decisions in (a) a competitive market, (b) an oligopoly, and (c) a monopoly.
I have a bad cold and so it was tough to write this one with the cold medicine making me sleepy. What made it worse was that I took a vacation day off on Friday and today (Monday) to have some time at home plus work on papers. Today, I am taking it easy but reading for the final assignment. Here is what is required on Assignment #6 (eight discussion questions):
Discuss in detail the demand considerations of pricing and how they relate to profit maximization?
What factors cause a marketing textbook to lose value during the period of one semester? It is not unusual for a student to receive less than one-half of the purchase price when he or she sells the book at end of the semester?
If two nearly identical wristwatches – except for brand name – have different prices, consumers generally conclude that the higher priced watch is of higher quality. What factors led to this conclusion?
You are in a supermarket shopping for soda and other party items. A six-pack of Pepsi on a special display is priced at $5.95. Using the concept of reference prices, how would you and other consumers determine whether this is a good value?
Windows 95, introduced in August 1995, was uniformly priced at $89.95 through advertising support agreements between Microsoft and retailers. Was uniform pricing a good decision or should Microsoft have encouraged retailers to set their own prices? Was $89.95 a good price; was it too high; was it too low?
Price haggling is an American tradition when buying an automobile. Saturn has established a no-haggle pricing policy. Is this a good or bad marketing move for Saturn? What are the advantages and disadvantages?
Sam’s Club is thought of as a deep discounter that sells merchandise in a warehouse setting. What factors allow Sam’s to offer deep discounts? How successful is the concept now? How successful will it be in the future?
Airline customers must travel over the weekend to get a discount from most major airlines. What are the airlines objectives for charging differential prices over the weekend?
I am also thinking about my next course as this one ends Feb 23. I think I will take MGT5012, Managerial Accounting for Decision Making. I sent an inquiry about the course to my academic advisor.
