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Profitable Cattle Marketing
Profitable Cattle Marketing

EFL Lesson 4
EFL Lesson 4

Market segmentation
Market segmentation

... You might think that if you try to appeal to everyone in the market you’ll sell more of your product. Not all people want the same thing and it’s usually best to give customers exactly what they want if you can. Think about products such as mulch and potting mix; or services such as lawn mowing. In ...
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... There are three basic approaches to economic decisions about resource allocation. One is based on tradition - that is, people generally repeat the decisions made at an earlier time or by an earlier generation. A second is based on command - that is, decisions are made largely by an authority such as ...
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... •Costs of promoting the product. •Costs involved in distributing the product. •Costs of selling the product to the final consumer. •Profit for all people involved in the marketing process. ...
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... Even while this process was taking place, American car manufacturers decided against changing to small car production believing that the trend was only temporary and that their market share would recover when world oil prices fell. This never happened, and by the time American manufacturers finally ...
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... – Elasticity (demand) tends to be greater in countries where there are many competitors ...
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... Who your potential customers are, how many there are? What they need, want and expect? Why they will use your product/service? When they will use and how much they will use your product/service? What will motivate them to use your product/service instead of your competitors? What they are prepared t ...
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... no individual seller or buyer can affect the market price. – Only one kind of good or service is traded. All units of this good or service are identical, therefore, buyers don’t care from which seller they buy. – Producers can freely enter or exit the industry. – Buyers and sellers have perfect info ...
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... 5. Microsoft constrained by past, present, future. 6. Wrong to define relevant market to exclude potential new entrants and then to measure power by how same new entrants are excluded. 7. Merger Guidelines bad approach here. Focus only on short-run. For software, long-term competition is of most rel ...
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Just for Perspective: A Note on Adam Smith
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... the 1880s by the “Austrian” economists. 2. The father of economics, Adam Smith, wrote his famous book The Wealth of Nations in 1776, long before the concept of demand was fully understood. 3. Smith thought the price of every good compared to other goods just depended on the amount of labor in each. ...
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Grey market

A grey market (sometimes called a parallel import, but this can also mean other things; not to be confused with a black market or a grey economy) is the trade of a commodity through distribution channels which are legal but are unofficial, unauthorized, or unintended by the original manufacturer. The most common type of grey market is the sale, by individuals or small companies not authorised by the manufacturer, of imported goods which would otherwise be either more expensive in the country to which they are being imported, or unavailable altogether. An example of this would be the import and subsequent re-sale of Apple products by unlicensed intermediaries in countries such as South Korea where Apple does not currently operate retail outlets and licensed reseller markups are high.
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