ECON Assignment Example | Topics and Well Written Essays - 1000 words

ECON - Assignment Example Before purchasing goods using GBP, the consumers must exchange the dollars for pounds hence increased demand for pounds. The increase in demand for pounds will lead to an increased in the quantity of US dollars supplied to the foreign country and a decrease in the supply of pounds. The branded-drug maker offered to pay the generic entrant an amount of $10 million as a way of reducing inter-product cannibalization that would have ensued if the generic drug entered the market/industry. Paying off the generic entrant was a way of ensuring the generic drug stays far away from the branded drugs. With the generic drugs being much cheaper than the branded drugs, the branded drug maker was sure that consumers would go the generic brands and his chances of earning profit would be slim. Paying off the generic drug maker acted as a way of acquiring the substitute good and this means he would increase his profits. In this case, the firm should follow the strategy of inter temporal price discrimination where the price of the product varies with the time the product is bought. Therefore, the firm should sell the iPhone to technophiles at $400 now and sell it to normal people at $250 later. The technophiles are high value consumers in this case while the others are low value consumers. The normal people or low value customers will not purchase the iPhone unless the price is reduced and so the optimal pricing scheme is for the firm to first concentrate on the technophiles. The optimal pricing scheme will also include the production of two versions of iPhone so that the high value customers can get the expensive and high quality one while the low value customers will purchase the low quality depending on the price. There is dominant strategy portrayed by either player. Therefore, the equilibrium will be a mixed nash. If any of the players randomizes their selection of action by going 50% one way, then the other player will

Internet Technology, Marketing, and Security Research Paper - 2

Internet Technology, Marketing, and Security - Research Paper Example It is based on some basic set of assumptions. The general conception is a well-built confidence in amplified sales for a mature business that promotes good quality products, excellent pricing, fine ads, and even improved social repute if they decide to run the correct advertisements for the correct audience. The fundamental paraphernalia was almost always accessible to mark demographic categories on social media. This one concept was embedded with the ever mounting number of people using social media sites from their machines and their personal digital assistants gave the momentum for management to agree on the fact that the only reasonable way to succeed is to go ahead via social media, and if accomplishment was not attained during their anticipated time frame then the resolution had to be more assets that must be invested into the project ( Belch, 2012). This ended up as a fuel to new development for social media corporations assisting them to build up even more tempting networks i n accordance to their clientele. Facebook, being one of the largest social media company is a result of the above described phenomenon. There are also some that worked on user data mining as Flow Town that is under Demand force, went forward with the objective to put up user information for sale to companies that opt for express mail while thinking to better deal with their end user links using custom notifications exclusively customized for each depending on their social media action on all sites. (Bloch, 2010) It is a hoax with numerous admirers still hoping for a marketing magic land. But as many failed events commence to come up generating new ideas, a novel way of thinking, an innovative estimation is at the moment offered to the community at large that evidently recognizes the imperfection of the procedure and predicts an opposite way to move for the now imagined business. Answer:2 There are several advantages and disadvantages when social media is used by business entrepreneu rs. The obvious advantage comprises of  data collection from media users via internet and then arranging data through software that eliminates manual activity of sorting data. Initially developing customized applications will be costly and take some time but it is worth the effort and money because a lot of time and resources are saved in the future and important data including market content is being provided (Smith and zook, 2011). Other advantages of social media comprise of Low costs, builds credibility, and the augmented number of associations (DAS, 2009) and modifying an existing business to make it efficient or making a new business (Mercer, 2009) . A noteworthy benefit of social media advertising is growing experience and growing traffic. almost two-thirds of marketers are utilizing social media to increase marketplace intellect.(65%). Attached for fourth place, 58% of marketers specify producing front and increasing devotees are repayment of social media (Stelzner, 2012). Shortcoming would contain, from a marketer's perspective, protection apprehension, particularly those relevant to Internet privacy and security concerns. Marketers may also be anxious about expenses of considerable quantity of resources to give guarantee  for building trust to media users to reassure the users that all information taken