FFA Pro Golf Case study Free Essays

They came from no official agency agreement – legally, an agent is someone who has authority to create legal relations between a person known as a ‘principal’ (In this case Pro Golf) and others – o an official trademark agreement – which Is a contract under which the owner of a copyright (in this case Pro Golf), allows a licensee (here FAA) to use, make, or sell copies of the original brand. This changes make us understand the strong link between the companies and their willing to increase their cooperation. However, FAA decided to sub-license the trademark to another Japanese company for the aim to making more money. We will write a custom essay sample on FFA Pro Golf Case study or any similar topic only for you Order Now Issues The fact that FAA decided to sub-license the trademark in order to make margin on loyalties incited Pro Golf to end the contract. The termination of the contract by Pro Golf incited FAA to sew them for breaching of contract. Was Pro Golf entitled to terminate the contract with FAA? Rules â€Å"Contracts that do not state a set length of time for termination are presumptively â€Å"at will† and may be terminated by either party at any time. † Court’s decision Considering that the contract between Pro Golf and FAA does not mention any set length, they should be entitled to end the contract whenever they want to. Pro Golf re entitled to terminate the contract with FAA. Was Pro Golf entitled to royalties received for Teeth sales? During those 6 years , Pro Golf and Facilitation evolved. They came from no official relations between a person known as a ‘principal’ (in this case Pro Golf) and others – to an official trademark agreement – which is a contract under which the owner of a FAA got a new opportunity to increase its benefit through getting higher royalties by Sub-licensing the trademark to Teeth Was Pro Golf entitled to royalties received for Teeth sales? This is Just a trademark agreement, they are no agency relationship between companies. The company can use the trademark on golf soft goods in Japan freely. Application of Rules Because the two companies made a trademark agreement, FAA can use the trademark on golf soft goods in Japan freely and sub-license the contractual rights. No Agency relationship between Pro Golf and FAA was engaged but rather a written trademark agreement for FAA to use the First Flight trademark on golf soft goods. Courts in the U. S. E reluctant to impose restrictions on assigning of rights in real or personal property; FAA here has a contractual right to use the trademark on golf soft goods in Japan and can freely transfer, assign, or sub-license all or part of those contractual rights. Nothing in Fast trademark license contract with Pro Golf prohibited FAA from granting sub-licenses to others or required FAA to pass along to Pro Golf any royalties FAA might receive from such subsequences. Was Pro Golf entitled to reimbursement for its attempts to perfect trademark rights in Japan? When Pro Golf heard its attempt to register the trademark in Japan had not been completely successful and that third parties had obtained the right to use the trademark in Japan, they terminated the contract. The termination of the contract by Pro Golf incited FAA to sew them for breaching of contract. Pro Golf counterclaims and ask for reimbursement for damages equals to its expenditure. Was Pro Golf entitled to reimbursement for its attempts to perfect trademark rights in Japan? In Japan, the rules are different than in the United States. Third parties are able to et registration without use, in the contrary than in the USA where registration is basically synonym for legal protection of a trademark. As FAA is operating under Japanese rule, it should not be responsible to payback Pro Golf for its own failure. In Japan, unlike the U. S. , registration is the critical factor for legal protection of a trademark. Third parties were able to get registration without use, and Pro Golf apparently had to buy them off. Its failure to do so is not the fault of FAA, nor should FAA be responsible to reimburse Pro Golf for its own failure. How to cite FFA Pro Golf Case study, Free Case study samples

Exchange of Money Perception in Consumer Behavior

Question: Discuss about the Exchange of Money for Perception in Consumer Behavior. Answer: Perceived Value Perceived value is the perception of the consumer based on the utility of a product. It can be based on four aspects: 1) value of the product what the consumer really wants, 2) value as to low price, 3) value as per the quality what the consumer get in exchange of money, 4) value as per what is acquired as what is sacrificed. Zeithaml (1988) Perceived value is a value that a consumer has in their mind about any particular brand or product. In such cases, most of the times consumers are not aware of the actual cost of the product they are indulge to buy instead they only have a perception about that product that it is of high quality or the best of the market. As in order to create higher perceived value producers uses marketing strategies which may pursue a good brand image in customers mind (Investopedia, 2010). "Seen esteem" gets to be noteworthy when the items are fundamentally the same as each other. Frosty and hack solutions are great case of saw quality in an aggressive domain. Since huge numbers of the fixings among contending brands are indistinguishable, the firm offering the item should construct a subjective impression of their item that makes its item appear to be exceptional. "Seem" is the watchword. They are not by any stretch of the imagination diverse (Smallbusiness.chron.com, 2016). Regardless of the type of the business the producer have, consumers always make purchases on the basis of their perceived value (Miciak Shanklin, 1994).. That is why the producer must be aware of how to create a high perceived value. Perceived value is greater than the price tag which leads the consumer to buy products. If it is the fact, then the producers have two options. We can bring down the cost, such that it will fall underneath their apparent worth, or, we can build their apparent estimation of the item, such that it crosses the value edge. Of the two techniques above, which is ideal? Sensibly, we would reason that raising the apparent worth is superior to anything bringing down the cost and settling for smaller net revenues. This is basically, the essentials of showcasing and publicizing, and it is the reason organizations burn through billions of dollars a year to persuade buyers why their item is "justified, despite all the trouble". Be that as it may, one moment. As a rule raising the apparent estimation of an item includes some significant pitfalls, so it is not all that simple. In any case, on the off chance that we advise our choices through examination, we will see that there are many approaches to increment saw esteem without strenuously burdening our wallets (Schneider, 2014). We should investigate. Expand the Price The majority of us have a tendency to trust that individuals need to purchase less expensive products to spare cash. While there is some truth to that, the inverse can be generally as genuine; now and then individuals need to purchase the more costly thing. For them the apparent estimation of the costly thing some of the time surpass than the first esteem (Lin, 2003. p. 27).. Robert Cialdini, creator of top of the line novel Influence, put it best: "In business sectors in which individuals are not totally beyond any doubt of how to evaluate quality, they utilize cost as a stand-in for quality." To put it plainly, individuals expect that higher estimated merchandise are better (in light of the fact that, frequently, they are). This is especially detectable with extravagance products. In a study by Stanford and Caltech specialists selected 11 male Caltech graduate understudies who said they loved red wine. The subjects were informed that they would attempt five distinctive Cabernet Sauvignons. Be that as it may, just three wines were utilizedtwo were given twice. The principal wine, which regularly costs $5, was appeared in two containers, one costing $5 (genuine cost) and one as far as anyone knows costing $45 (fake cost). The second wine was done backward, typically costing $90 and appeared in a $90 and $10 bottle. They found that expanding the apparent cost of a container of wine expanded the genuine AND saw delight that testers got from drinking the wine. The members said they could taste five unique wines, despite the fact that there were just three, and included that the wines recognized as more costly tasted better. In this case, unmistakably only putting a high sticker price on a container of wine was sufficient to build the apparent quality (which then really interpreted into real esteem through their delight in it). Furthermore, we can infer that with regards to wine - nobody truly recognizes what they are discussing. Importance Of Perceived Value To Consumer Behaviour And Marketing It is the perceived value of a product because of which a consumer buys products and services. Before planning a vacation, or booking a dine table people do a lot of research on the internet instead of directly going at that place. Research as reviewing sites, people reviews and ratings. The person gathers an idea what exactly the place is and they will get in return of their time and money spent (Monroe's,1979). This is what a perceived value of a business. Every time a customer goes for shopping or buying a product the first question they always ask from themselves Is this product worth my hard-earned money? Is this service worth my time? Obviously it is the job of the producer to give answer to these questions. As in order to make customers loyal the ne has to answer such questions. Once a producer fails to answers these types of questions, then he cannot expect the customer loyalty in future and their support. Perceived Value In Consumer Behaviour Influencing Perception Perceived value of a product influences the decision of the consumer. As on continuous basis consumers collects information about the product and the company of which they are going to buy the product in order to get the information if the company is offering value. Consumer perception is the reality for a business. Sometimes by making manipulations and tricky techniques the producer influence the decision of the consumer just for the purpose to present themselves in best possible light, as high perceived value helps in increasing sales as well as with high priced (Mack, 2016). Reaching Consumers Main factor to influence customer perception is exposure, he more you expose your qualities More will be customers get aware. So businesses do all the things to publicize their product and offerings. But in a huge market when every company is exposing their products and adopting marketing strategies, it is to responsibility of the company to adopt strategies which can help in making the product stand out from the crowd. Risk Perception Risk perception is another factor which must be taken into account when the producer is trying to influence consumer behaviour. If the consume is not familiar with the product they are not able to assess the risk involved in purchasing the product which makes the poor product image (Mwencha , 2014. p. 143).. In order to overcome this hesitancy business must provide the product information as much as possible with encouraging product reviews (Agarwal, S., Teas, R. ,2001). Here is an option too, providing a test of the product in stores can minimize the risk perception of the consumer. Customer Retention Customer retention means making a consumer loyal with the product and their purchases. Successful businesses need to foster their clients time to time in order to make them retained with the product. As after using a product it is a need of the producer t make the consumer retained with that product only by maintaining a good reputation and establishing brand loyalty (Parasurman, Grewal, 2000). Offering after sales services, taking feedbacks as it helps in taking perceptions about the consumer and helps the business to improve them in future. As loyal consumers generates more revenue rather than the new customers. We can take some examples of perceived value of companies. Apple: Perceived value is obtained through external sources rather than from internal sources. As critiques and supporter provide their feedback and experience with the brand and service. Let us take an example of Apple. It is greatest example of perceived value. iPhone is not a big step technologically-as all other companies competing in the market are also providing the same qualities as well as technology. But in the way, Steve jobs presented his products and packaged, make it a big brand and a mad desire in customers mind. Apple is still able to gain a high perceived value as the consumers are loyal (Marketing Zeus, 2016). Starbucks Satrbucks is a famous coffee brand. Do we have any idea why we pays $2-3 for the same cup of coffee which we can get in 70-80 cents only (Yeh, 2013).. The answer comes in comprehension client saw esteem. Starbucks has changed our apparent estimation of espresso. We are not just purchasing espresso at Starbucks- - we are purchasing an "affair." This experience offers an extended arrangement of worth drivers, for example, an assortment of flavours and tastes, store feeling, client administration, and physical association in an undeniably unoriginal, innovation commanded world. We pay more since we see a more prominent worth (Pirson, n.d.). References Agarwal, S., Teas, R. (2001). Perceived Value: Mediating Role of Perceived Risk.Journal of Marketing Theory and Practice,9(4), 1-14. Retrieved from https://www.jstor.org/stable/40470071 com (2010) Perceived value, in Available at: https://www.investopedia.com/terms/p/perceived-value.asp (Accessed: 21 August 2016). Lin, C. (2003), The role of customer perceived value in generating customer satisfaction: An e-business perspective. Journal of Research in Marketing Entrepreneurship, 5(1), 25-39. Marketing Zeus. (2016). Increase Your Perceived Value; Increase Your Sales. [online] Available at: https://marketingzeus.com/article/increase-your-perceived-value-increase-your-sales [Accessed 21 Aug. 2016]. Mack, S. (2016) Role of perception in consumer behavior,Small Business Chron, Miciak, A. R. Shanklin, W. L. (1994). Choosing celebrity endorsers. Marketing Management, 3(3), 51-59 Monroe, Kent B. 1979.Pricing: Making Profitable Decisions. New York: McGraw-Hill Book Company. Mwencha, P.M., Muathe, S.M., Thuo, J.K. (2014), Effects of perceived attributes, perceived risk and perceived value on usage of online retailing services. Journal of Management Research, 6(2), 140-161. Parasuraman, A., Grewal, D. (2000): The impact of technology on the quality-value-loyalty chain: a research agenda. Journal of the Academy of Marketing Science, 28(1), 168174. Pirson, M. (n.d.). Shareholder Value, Shared Value, or Social Value Creation - The Troubles of Managing for More than One Bottom Line. SSRN Electronic Journal. Schneider, D. (2014)10 ways to increase perceived value (without breaking the bank). Available at: https://ninjaoutreach.com/ways-to-increase-perceived-value/ (Accessed: 22 August 2016). chron.com. (2016). [online] Available at: https://smallbusiness.chron.com/definition-perceived-value-23017.html [Accessed 22 Aug. 2016]. Yeh, Y. (2013), The impact of customer advocacy on customer perceived value. Journal of Business and Retail Management Research, 8(1), 91-102. Zeithaml, V.A., 1988. Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3): 2-22.

Modern vs. Classical Music free essay sample

During the late 17th century to early 1 9th century, the phenomenon that is the evolution of tragically Music had hit the Classical era; extremely skilled artists such as Mozart, Beethoven, Haydn and Schubert were producing masterpieces for the courts of the upper class. Because the culture that surrounds these classic artists and the modern artists has changed greatly over hundreds of years, the skill involved in becoming a master of the art has not.Though taken very early in life from ongoing battles with illness mixed with over exhaustion from tirelessly producing piece after piece and a final, fatal bout with typhoid fever, Vienna based Franz Schubert work is often described as being the last great representation of Classical era music, as well as being a transitional composer between classical and romantic era. Throughout his life while he composed, he worked mostly in schools after his own schooling applying for various positions but seeming to end up falling short of his goal. We will write a custom essay sample on Modern vs. Classical Music or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In 1818 he was even jobless and considered himself a failure, especially during the spring, when he produced only one work considered noteworthy, so he left the city for the mummer months and was revived showing exuberant aspirations fresh creative outbursts, in creating three dynamic pieces. But at this time, his music was starting to be used in performances around Vienna. His only public performance, which was ironically the same year he died, generated much profit in terms of money and success in terms of his lifelong accomplishments as an artist ending on a strong foot.Like Haydn and Beethoven, Mozart studied at the prestigious Viennese Classical School, but unlike those composers, or any other artist in history for that matter, he irked with all genres of music available to him at the time, and remarkably had success in all of them. This, along with the fact he was composing by age five and performing for royalty and nobility by age of six, point out his true musical genius.Alth ough his musical talent was strong in composition as well as performance and he had toured through Italy, Anaheim, Paris, Syllabus, Munich and of course Vienna through early years of his life, he had serious financial worries, and they worsened as the famously fickle Viennese found other idols. His income during his last five years, 1786091, was far larger than that of most musicians, though much below that of the class he wanted to be associated Beethoven, whose father saw promise with him musically at a young age, did not develop the talent or partial recognition that Mozart had until his teens. In the late sasss, it is said he went to Vienna from his hometown of Bonn to study with Mozart, who was impressed with Beethovens abilities and thought this young man will make a great name for himself. At the turn of the century, it became apparent to Beethoven that is continuing lose of hearing will only get worse, but that he will seize fate by the throat. Though stricken with bad luck in health and lesser musical genius than Mozart, he was able to support himself without the financial woes that Mozart and Schubert had, and was also the first musician in history to receive a salary for nothing more than compose under his own restrictions. With the evolution of music and technology from the classical era to what the industry has today, the composition, production and presentation of music as expanded the capabilities of the artist and the audience.In addition, the financial worries that the forefathers of this art had to endure have not impacted the upper echelon of musicians toda y by any means, and we saw a transition to this starting with Beethovens salary, which showed a rise in appreciation of musicians by all society, rather than church and wealthy commissioners. The music medium has exploded into a worldwide cultural phenomenon, where ideas and thoughts of composition and sound can be exchanged with ease through radios, computers, concerts and Vinyl/CD/Tape/AMP, which leads to constantly evolving music, rather than the antiquated notion of music being a regional cultural experience. In terms of the artist in the modern music scene, the skill and dedication required is equally demanding if not more so to rise to the top in this competitive industry, though the reward is far greater in terms of fame, wealth and social status; all of which Mozart striver for but never was able to attain despite being perhaps one of the greatest musical talents the world has seen yet. Also with he expansion of audiences, infusions of genres and capabilities with technology, modern society has seen a trend in corporations fabricating bands, composing music for artists that fit with the cultural fads and electronically perfecting acoustics, all of which are ways for these companies to make quick profit. The downfall in this is the loss of appreciation of music by these corporations and eventually listeners, in terms of the emotion, talent and sacrifice that it takes away from the real musicians trying to make a name for themselves and their careers, such as Schubert and Mozart.

Gun Manufacturers free essay sample

Manufacturers and Responsibility Velasquez, 6th edn, 2006, p. 49 During 2002, John Allen Muhammad and John Lee Malvo shot and killed up to 13 people in Alabama, Georgia, Louisiana, Maryland, Virginia and Washington, D. C. They used a semiautomatic assault rifle manufactured by Bushmaster Firearms, Inc. The two killers bought the rifle from Bulls Eye Shooter Supply, a gunshop in Tacoma, Washington, although federal law prohibited the shop from selling the gun to either Muhammad, who had a record of domestic battery, or Malvo, who was a minor. Survivors of the victims have claimed that although Muhammad and Malvo were directly responsible for the deaths of the victims, both Bushmaster Firearms, Inc. , and Bulls Eye Shooter Supply (and their owners) also â€Å"should be held responsible. â€Å" Audits by the Bureau of Alcohol, Tobacco, and Firearms showed that Bulls Eye had â€Å"lostâ€Å" guns (238 in a 3-year period) or â€Å"lostâ€Å" documentation – including its records of the Muhammad-Malvo sale – yet Bushmaster Firearms continued to sell its guns to the shop. We will write a custom essay sample on Gun Manufacturers or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Survivors of the victims claimed that Bushmaster Firearms had an obligation not to create an unreasonable risk of foreseeable harm from the distribution of its guns. The company, they claimed, failed to adequately investigate or screen this dealers record of weapons handling, failed to adequately monitor and supervise how its dealer was selling its guns, and failed to provide training or incentives for its dealer to comply with gun laws. If Bulls Eye and Bushmaster had acted as they had an obligation to act, Muhammad and Malvo would have been prevented from obtaining the assault rifle they needed to kill their victims since federal laws prohibited both from buying guns. Bulls Eye and Bushmaster helped cause the deaths, the wife of a victim claimed, and so â€Å"they share the responsibility for my husbands death and many others. â€Å"

Tremont, Ohio Essays - Free Essays, Term Papers, Research Papers

Tremont, Ohio Essays - Free Essays, Term Papers, Research Papers Tremont, Ohio A history of Tremont symbolizes the typical urban American neighborhood with its mish-mash of cultures. It offers eclectic sites and adaptive locations for filmmaking. I will look at the history of Tremont as a cultural center of the Midwest before the filming of The Deer Hunter (Figure 3). In addition, I will examine the history of Saint Theodosius Russian Orthodox Cathedral and the history of Lemko Hall to illustrate the eclecticism and adaptability that director, Michael Cimino, tapped in his film. Director Michael Cimino's most powerful, and controversial film work The Deer Hunter examines the uniqueness of this area by focusing its setting on Saint Theodosius Russian Orthodox Church and Lemko Hall. The original developers of Tremont (Figure 4) were Mrs. Thirza Pelton and John Jennings. They planned to develop the Tremont area into the cultural center of the Midwest. Purchasing 275 acres for the development of Cleveland University, incorporated in 1851, was their start. The building on the corner of College and University Avenue would be the first and only building constructed for the University. Part of its campus would be Pelton Park, which was surrounded by streets named after the college like Professor, College, University, Literary, and so on. This conglomerate would make up "University Heights". This venture would end two years later, in 1852, when Mrs. Pelton died along with the loss of her financial support. Tremont still remained and continued to develop into an exclusive area as Pelton and Jennings had intended. "University Heights" continued to progress as an eclectic residential area of Cleveland up until the time of the Civil War. Jennings Avenue, currently ! West Fourteenth Street, was called the Gold Coast of Cleveland. Around the time of this prosperity, the area had become a main stay for the Union Troops. This area became a major participant for the Union in the Civil War. This area was affected by the war, which changed its name "University Heights" into "Lincoln Heights" and Pelton Park to Lincoln Park. The Union Troops had set up the area for their northern operations. The current Ukrainian Labor Temple, which lies on Auborn Avenue and West Eleventh Street, was used as a hospital for the Union Soldiers that were sick or wounded. The troops did their recruiting from Auburn Avenue, and the troops camped at the foot of Professor Street, which overlooks the Cuyahoga River, and also in Lincoln Park. After the civil war, many developers were interested in creating an industry in Tremont. Its access to the Cuyahoga River and its flat surrounding region made it an ideal place for steelworking. This created a need for a work force. Eager Irish and Slavic immigrants came into the area in hopes to make a new home for themselves. Between the nineteen-thirties to the late sixties Tremont become home to a multitude of cultures. The Irish and the Slavic people were followed by Germans, Southern Europeans, Syrians, Greeks, Italians and a few Blacks. The largest group at that time was the Lemkos. Lemkos were originally from Lemkovina, which was situated in the slopes of the Carpathian Mountains. Lemkovina, controlled by Austria-Hungry, is still considered to this day the most neglected in cultural progress and the most oppressed of all the Russian peoples. With The Slavs that immigrated into the United States and Canada they not only brought their eastern orthodox religion, but also ! brought their styles of architecture. Before World War 1, 6,000 Slavic immigrants inhabited the Cleveland area. Their heritage and artistry is notable in Tremont's Architecture. The Eastern Orthodox belief of the Slavic people was and is still worshiped at Saint Theodosius Russian Orthodox Cathedral. Saint Theodosius is the oldest Russian Orthodox Church in Cleveland. In September 1974 for its seventy eighth anniversary the church was put on the National Registry of Historical Places. It was coined "one of the most outstanding examples of Russian church architecture in the United States". (Cleveland Press Collection 1974). The architect's, Fredrick C. Baird, design was based on the pastor's, Father Basil S. Lisenkovsky, photographs of the Church of Our Savior Jesus Christ in Moscow. Baird used certain features of the Muscovite Church resulting in Saint Theodosius having 13 distinguishing crosses and

Seven Years War and How it Affected the British Colonies in North Research Paper

Seven Years War and How it Affected the British Colonies in North America and What Were the Policy Changes After 1763 - Research Paper Example However, at the end of this war several challenges faced Britain (Rickard Web). This paper seeks to discuss Seven Years War and how it affected the British Colonies in North America and what were the policy changes after 1763. Influence to the Colonies Britain started to assess the relationship it had with the colonies. This did not take place before the war, but success of war prompted Britain to take this initiative. British authority thought of colonies as subject to authority of the king and parliament. Consequently, colonial assemblies were given authority to supervise the implementation of directives from royal governors in the colonies (Henretta and Burke Web). Additionally, Britain failed to put its laws in these colonies. For example, the molasses Act of 1733 was not implemented. This required the colonist to pay taxes on import from West Indies under French authority. This was because there was huge profit that Britain was generating from the colonies (O'Brien 125). Consequ ently, colonist gained both political and economic autonomy. However, the colonies were sometimes uncooperative to royal directives (Henretta and Burke Web). According to Knopf, â€Å"The success of Britain in the war increased its American control to a size that was challenging to any European metropolis to exercise control† (Knopf Web). ... Consequently, Britain was faced with huge debt. Compounding British financial woes was uprising calling for tax relief due to bulging taxes for those living in British Isles. There was also a negative response by Indians living in areas formerly under the French dominance. Actually, there was suspicious relation between Great Britain and tribes in Ohio and the great lakes region. They had established a cordial relationship with French settlers before. However, after French and its allies defeat, British settlers started to inhabit this region. This was rampant in the Appalachian mountain where there was rich agricultural land. As a result, the Indian viewed these settlers from another perspective that was not pleasing to them (O'Brien 125). In addition, Major General Jeffrey Amherst contributed to a tense relationship between the Indians and British in the culmination of the War. During the war, a considerable support was given to British by Indian tribes. As a result, British gave v arious gifts to their leaders. However, this was terminated after a successful termination of the war. General Amherst considered these tribes as inconsequential as he no longer needed their support. Trading links were also severed with Indians. Furthermore, the Indians felt that British were treating them as subjects rather than their allies. Digital History notes, â€Å"The colonist’s encroachment of Indian land was a source of frontier retaliation in the form of Pontiac’s uprising† (Digital History Web). The Pontiac revolution led various Indian tribes against British forces and settlers. This was a protracted war seeking to reduce British dominance. A number of British soldiers were killed, while settlers fled to safer locations in the eastern side. Challenges

Principles of Economics Essay Example | Topics and Well Written Essays - 1000 words

Principles of Economics - Essay Example Q1. You own a local sub shop in a college town. You primarily serve two groups of people: local residents (both students and other local residents) and visitors to your town. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy. A1. Although, there may be a plethora of available price discrimination policies for a variety of different businesses, for a fast food eatery there are a number of simplistic strategies that could be employed to help increase revenues over a single price strategy. Firstly, the sub shop could advertise students to 'show their student card' for a predetermined discount. As for other residents fliers could be distributed to the houses in the community with a 'customer loyalty card attached'. These loyalty cards could also be presented for a predetermined discount. As visitors passing through the town would not have access to these types of identification they would be charged full price. According to Tutor2u (2011) this strategy would accomplish charging a higher price for an identical good (In this case food) for a reason that is not associated with an increase in costs. Q2. Suppose the cable TV industry is currently unregulated. However, due to complaints from consumers that the pric e of cable TV is too high, the legislature is considering placing a price ceiling on cable TV below the current equilibrium price. If the government does make this price ceiling law, diagram and explain the effects with supply and demand analysis. If the cable TV company is worried about disgruntling customers, suppose that the company may introduce a different type of programming that is cheaper for the company to provide yet is equally appealing to customers. Explain what would be the effects of this action. A2- In this example, if the government were to impose a price decrease from Price $(A) to Price $(B) this would naturally drive the demand from its Equilibrium level to a level of Q(B). However, the cable company may not want to provide all of this excess service to new customers (Owing to high costs associated with new cable lines etc) so it is likely that this government imposed decrease in price would be driven from Equilibrium to Q(A) resulting in a shortage of supply. Nat urally, this action would enrage customers. What the company may choose to do is offer a price discrimination strategy wherein they could charge the new government imposed low price for a basic service cable service and continue a higher price strategy for a more premium service. Q3. Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if demand for the product rises. A3. As you can see from the above graph, if in a perfectly competitive market the quantity demanded for a product increases the demand curve will shift to the right and the price of a good will increase in the short term (Which would have a positive effect on the profitability of a firm). However, because the market is perfectly competitive more players would enter this market which would effectively drive the price down until its original equilibrium was once again attained. However the opposite could also hold true, insofar as if the demand for a good decreases the price of goods would also decrease (Which would have negative consequences for firms operating in this market). At this point several firms would no longer compete in this market and the quantity of goods supplied would decrease which would drive the price of goods back to its original position. Q4- Discuss why some long-run average cost curves are steeper on the