Notes, summaries, assignments, exams, and problems for Economics

UNIT 1

1. What are the two perspectives of marketing?

Philosophy and Technique.

2. Who first mentioned the concept of marketing-mix?

Neil Borden.

3. What is the current concept of marketing?

The current concept arises from the customer's or user's needs which guide production.

4. Do all companies are marketing oriented?

No, companies can be Sales or Marketing oriented.

5. What is the difference between the four 'p' and the 'four c's?

From a customer's point of view, the 4 P's of marketing become the 4 C's.

6. What decisions include sales management?

• Strategic decision
• Selection training
• Motivation
• Supervision and compensation of sales team.

7. What is relationship marketing?

Relationship marketing is the establishing of long-term, stable relationship with a...

Balanced Budget

Balanced budget is when current revenues equal current expenditures; however, when a deficit budget occurs causing revenues to fall short of expenditures, it requires the government to borrow money or even tap into reserves to make up the difference. This becomes a requirement that shapes the entire budget process, thus making budget deliberations revenue-driven when revenues determine the level of spending. Balanced budget is elusive when authorities propose a balanced budget but the council approves an unbalanced one or state or local laws allow the deficit at the end of the year to be carried over to the next year. Furthermore, there are no consistent or enforced standards for the balanced budget since it may be manipulated...

Market Coverage Strategies

There are 3 main types of market coverage:

• Intensive – Distributing the product through the largest number of different intermediaries.
• Selective – Choosing a number of intermediaries for each area.
• Exclusive – This involves choosing only one intermediary.

Promotion Mix Elements

The promotional mix includes:

• Advertising
• Public Relations (PR)
• Personal Selling
• Direct Marketing (DM)
• Sales Promotion

Promotion: Standardization vs. Adaptation

• Standardization = The same promotional message or element of the promotional mix is used across all communications and markets (e.g., the same TV advert used, perhaps with language updates).
• Adaptation = All (or some) of the promotional mix is changed to appeal to local needs and demand (e.

PROFORMA INVOICE

It is a document without taxes value, the seller provides it to the buyer, contains most of the necessary information about an international operation. If the buyer accepts, it is understood that the buyer accepts and confirms the information indicated on it.

The Liquidity Preference Theory of Interest

The Liquidity Preference Theory, presented by J.M. Keynes in 1936, is a highly regarded theory. According to Keynes, the rate of interest is a purely monetary phenomenon. It represents the reward for relinquishing liquidity for a specific period.

Thus, similar to the price of a commodity, the rate of interest is determined by the demand for and the supply of money. Therefore, it is necessary to introduce the concepts of demand for money and supply of money.

The supply of money refers to the stock of money in circulation and is a fixed quantity at a particular point in time. It is the sum of currency (notes and coins) and commercial bank deposits. It remains fixed in the short run because it is determined...

Quiz 7

1. The boundaries of Traffic Analysis zones (TAZs) reflect natural or man-made obstacles (e.g. rivers, freeways) where all TAZ trip-generating activities are represented by the zonal centroids.

iMarketing: Creating Value and Building Relationships

iMarketing is a process by which companies create value to satisfy customer needs through strong and long-lasting relationships with them, and capture value from them in return, ensuring enough profit. Strategic marketing is about the analysis and search for opportunities in the market, taking as a starting point the mission and the competitive advantage. Operational marketing is about the specific action plan that is designed and implemented to achieve strategic objectives or goals with proper management of allocated resources and within a defined framework.

Evolution of Marketing

• Production concept (1920): Demand exceeds supply, attractive prices and availability, focus on efficiency, passive

Company Dimension and Financing

This analysis examines the economic and financial structure of Tangoe, a company that has experienced continuous growth over the past decade, despite a decrease in non-current assets in 2014. The increase in total assets has been primarily financed by current liabilities.

Current Assets

Current assets have increased by almost 20%, mainly driven by growth in both Cash and Accounts/Trade Receivables.

• Cash: Increased by 8,000 thousand dollars, representing 43% of total current assets and 23% of total assets in 2014.
• Accounts Receivable: Experienced significant growth/decrease (receivables).

Capital and Revenue

The company's capital has fluctuated in recent years. In terms of sales and revenues, Tangoe has seen a clear...

-(management accounting) the application of principles of accounting and financial management to create, protect, preserve, and increase value so as to deliver that value to stakeholders of profit note for profit enterprises both public and private.

(balance sheet) about shows the financial position at a point in time as one accounting period ends and another one starts. The main elements of the balance sheets are assets, liabilities, and equity.

(budget) is a financial plan. It can be seen as a statement of financial effect expected from the resource conversion process that the business has planned.

(globalization) - it is an extension of internationalization in the sense that most aspects of the production or service are performed and integrated...

International Trade Policy Analysis

Impact of a 20% Tariff on Personal Computers

Given the following information, we will calculate the cost to consumers, the benefit to producers, the change in government revenue, and the deadweight costs of a proposed 20 percent tariff on personal computers.

Calculations for the 20% PC Tariff

With a 20% tariff, the price of personal computers increases from $2,000 to $2,400 (a $400 increase).

• Cost to Consumers (Loss in Consumer Surplus):
  The total loss in consumer surplus is the area of the trapezoid