Friday, January 24, 2020

Explain What Is Meant By The T :: essays research papers

Explain what is meant by the term â€Å"an economic model† and outline a model of price and output determination in a free market. Examine the effect of a change in real disposable income on equilibrium price and output. An economic model or theory is a simplified explanation and analysis of economic behaviour. It allows us to predict, and therefore intervene, if we do not like the outcome of a possible chain of events.   Ã‚  Ã‚  Ã‚  Ã‚  Theories and models are mainly derived from past responses to similar stimuli or from statistical surveys, and this information may not always be accurate as it assumes ceteris paribus, or all other things remaining equal. For example, figures may show that the number of people smoking doubled when the price of cigarettes halved in the 1960’s. This does not mean to say that following a similar price reduction today, the response would be the same, as advertising has increased the awareness of the dangers of smoking. Such a difference in behaviour patterns can be explained when we consider that economics is a social science, concerned with people, who have a free will and cannot be made subject to laws. This also explains why many models are generalised, dealing with trends in economic behaviour rather than the choice of the individual, as this varies and is difficult to surmise and predict.   Ã‚  Ã‚  Ã‚  Ã‚  A market is a place where buyers and sellers communicate for the purpose of the exchange of a good. In free market, the price of a good can fluctuate, determined by supply and demand. When economists discuss demand, they mean effective demand, or how much people will want, and can afford to buy at any given price of a product. This means that demand is dependent on price. The graph above is a demand curve that illustrates that as price rises, demand falls. This enables movement along the curve, which we term an expansion or contraction of demand, depending on the direction of this movement. Like most economic models, it is simplified and assumes ceteris paribus that price and demand have an inversely proportional relationship. This theory does not account for goods which are nesscessities or that have few close substitutes, for whom demand may remain constant with price changes.   Ã‚  Ã‚  Ã‚  Ã‚  Similarly, there is a supply curve that shows the relationship between price and supply. The economic theory here is that the higher price a good commands, the higher your profit margin will be (assuming costs of production remain constant).

Thursday, January 16, 2020

Automobile and Swot Analysis Essay

1. Introduction This report is based on the company Mercedes Benz, and the chosen country is Singapore. The purpose of the report is to conduct an environmental and marketing analysis of Mercedes Benz in Singapore. Firstly, this report will state the company background. Next, it will state the country background. Thirdly, it will state the SWOT analysis. Fourthly, it will state the PEST analysis. After that, it will state the marketing strategy, new product development, and lastly the conclusion. Company background Mercedes-Benz is a German car company, some sort of multinational department from the German company Daimler AG. The company is used intended for high-class motor vehicles, buses, motor coachs, as well as vehicles. The particular brand made an appearance in 1926 within Daimler-Benz yet history the sources to Daimler-Motoren-Gesellschaft’s 1901 Mercedes and to Karl Benz’s 1886 Benz Patent Motorwagen, which is commonly viewed as the first car. Mercedes-Benz’s slogan is â€Å"Das Beste oder nichts† (English: â€Å"The best or nothing†). Mercedes-Benz is just about the most commonly known as well as set up car makes in the world, which is on the list of the world’s oldest car company nevertheless around the world today in 2014,possessing the first petrol-powered vehicle. Country background Singapore is an affluent island nation, positioned in Southeast Asia within the southern tip of the Malay Peninsula. The occupants of Singapore delight in one of the maximum standards associated on earth, with each capita GDP adequate to in which from the top international locations within American The european union. The particular economy would depend intensely upon exports, and the nation houses one of the busiest ports on earth. 2. SWOT analysis SWOT analysis is part of strategic planning. The SWOT analysis helps organizations assess issues within and outside the organization. The SWOT analysis, made up of an assessment of strengths, weaknesses, external opportunities and threats from competition, provides an outline for strategic decision-making Table 1 From the table above it is seen that strong brand value measures that Mercedes is considered as a premium brand, such as BMW, Porsche, Audi and etc. There is no exception that Mercedes will stay in premium segment for a very long time. Almost all the rich and old people prefer this particular car brand. Also, this company has an advantage over their competitors as increasing production hybrid cars because of environmental friendly and Ð µÃ'€Ã'Æ' exact number of miles driven. To produce high quality cars and hire well – educated employees makes production expensive. That is why Mercedes is interested in upper class people who are able to buy such a car. It makes the brand attractive investment for people with high income (upper class). PEST analysis Originally known as PEST Analysis, this is a macro environmental framework used to understand the impact of the external factors on the organization and is used as strategic analytical technique. Strengths Weakness Opportunities Threats Strong brand value High price cost Fast – growing company Government policy Leader in innovation Expensive service New products and services Increasing in competition High level safety of cars High fuel consumption Developing hybrid cars Decrease in demand Investment. Stereotype that this car is for the rich people Fuel price rises Rising price of raw material High quality It is hard to find manual transmission in such a car Positive attitude towards â€Å"green† vehicles Unexpected problems A PEST analysis is looks at how those external factors can affect a business’s activities and performance, and it can be used in combination with other tools. It helps to determine an organization’s overall outlook for success. Political Economic Socio – Cultural Technological Bureaucratic Interest rates Fast – growing society Modern technology Stable government law system High income level Diversity of cultures WI-FI zones Taxation system. High power of the local currency Variety of language cultures Automation of work Law level of corruption Low level of economic freedom (-2) Most of the people are in advanced age Production of high quality medical equipment Foreigners investment Trade freedom Prevalence of upper class Investment in technology Table 2 From the table above let us take 3 characteristics for discussion. Firstly, high income of Singapore measures that Mercedes – Benz is one of the most suitable brands for upper class. It is considered, that Mercedes – Benz is a car which is suitable for old population, especially for men. Therefore, this car brand has a priority to take Singapore as a sales leader in the adult audience because of the prevalence of old population. Diversity of cultures of the populations shows that every single nation has different understanding of car design. That is why this brand can offers cars such as â€Å"family car† like Sedan (C – class) to â€Å"celebrity car† as Crossovers (G – class) with the newest and technology to their customers. 1) Franki Colbert (n. d). Definition of a SWOT Analysis. Retrieved from: http://smallbusiness. chron. com/definition-swot-analysis-43274. html 2) Russ Heaps (n. d) 10 most expensive cars to own and drive. Retrieved from: http://www. bankrate. com/finance/auto/10-most-expensive-cars-to- own-and-drive-1. aspx 3) Chad Brooks (2013, November 22). PEST Analysis: Definition, Examples & Templates. Retrieved from http://www. businessnewsdaily. com/5512-pest-analysis-definition- examples-templates. html 4) Abha Pandey (2011, 26 September). What is PESTLE Analysis? Retrieved from: http://bpmgeek. com/blog/what-pestle-analysis 5) Leading through innovation (n. d/ n. a) http://www. mbusa. com/mercedes/benz/innovation.

Wednesday, January 8, 2020

Apple Inc. Business Analysis - 3012 Words

Business Analysis of Apple Inc. On April 1, 1976 Steve Jobs, Steve Wozniak, and Ronald Wayne joined together to form Apple Computer Incorporated. The concept behind their company was the creation of an inexpensive, simple to use personal computer kit. Working out of Jobs’ garage in Cupertino, California the trio designed and manufactured their first product in three months. They named this product the Apple I and it went on sale in July 1976 for $666.66. Six months after the release of the Apple I, Ronald Wayne opted to sell his share of the company back to Jobs and Wozniak for a meager $800. Soon thereafter multimillionaire Mike Markkula joined Apple and on January 3, 1977 the company was incorporated. Apple continued to gain†¦show more content†¦Instead, Jobs decided for Apple to concentrate exclusively on desktop and portable Macintoshes for professional and consumer customers (International Directory of Company Histories, 2001). With guidance and oversight from Jobs, Apple released the su ccessful iMAC in August of 1998. This marked Apple’s return to profitability. In 2005 the company underwent another period of change. From 2005-07 Apple transitioned from PowerPC processors to Intel x86 processors. While the former PowerPC processors were supplied by Motorola and IBM, Steve Jobs stated Apple’s lack of faith in Intel to meet the company’s needs for the future. In January of 2007, Steve Jobs announced that the company would now be known as Apple Inc. during the Macworld Expo in San Francisco, California. The change in name signaled the company’s change in focus from personal computers to mobile electronic devices (Macworld 2007). Apple Incorporated’s primary NAICS code is 334111. The company falls under the electronic computer manufacturing category. This U.S. industry’s primary function is in manufacturing and/or assembling electronic computers. 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The company also sells a range of related software, accessories, services, networking solutions, and third-party digital content and applications. Apple, Inc. operates in different segments namelyRead MoreExternal and Internal Environmental Analysis Strategic Planning and Implementation1213 Words   |  5 Pagesand Internal Environmental Analysis Strategic Planning and Implementation STR/581 External and Internal Environmental Analysis Apple Inc. is a computer product company that was launched into the market through the collaborative efforts of Steve Jobs and Steve Wozniak in the year of 1976 and is aimed at reaching the diverse global community. The changes in the external environment of the company determine the decisions that the corporation will make. Apple Inc. has reputable frameworks