Week 4
This scenario was sooner difficult to follow. Not having lots experience in the business world, I wasnt overly sure how to pursue in dealing with a belligerent commercialise. Staying a head of the competition and finding ways to fuck off your company stand out are vital to the natural selection of the business. The scenario involving quasar was a great learning experience of nevertheless how difficult it can be.
In a Monopolistic market quasi-stellar radio source needs to dress in bettering their technology glitches rather than passing the costs to their consumers. In a market much(prenominal) as a monopoly, if the price of the item, or in this circumstance the Neutron was to increase the demand for that product would decrease causing the gain of quasi-stellar radio source to decrease as well. In the scenario we had to determine if Quasar should implement something that would fix their deficiencies with the Neutron or if that cost should be passed to their consumers. I had chosen to invest the 500 to 600 million to fix the problems kinda of passing the cost to consumers. I thought that if the price was to increase, on the already expensive product, people would not be equal to(p) to afford it and they will not want to purchase something that does not work to its full potential.
In an Oligopoly market it is important for Quasar to stay comepetive in priceing to even out the market between the Neutron and Orion. We were asked in the simulation to determine the costs and see how that change the market. I struggled in this area as I wasnt sure what to do. When there is one other company competing with a similar product there has to be something that sets you apart from them. ordinarily this will involve price. It is important to keep the market as equal as possible. In an Oligopoly market Quasar could invest in a marketing plan or a research plan that will predict where the market is passing play and the needs of the consumers to accurately price the Neutron in comparison with the Orion. Also, Quasar could invest in technology that...If you want to get a full essay, order it on our website: Orderessay
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