Products can be classified as
Products Products Products for direct consumption. Consumer durables Consumer non durables In the case of consumer advertising the following points should be taken into consideration:…
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Explain Baumol’s theory of sales revenue maximization
According to Baumol, every business firm aims at maximization it sales revenue (price x quantity0 rather than its profit. Hence his hypothesis has come to…
What is Managerial Economics?
Economics is a social science, which studies human behavior in relation to optimizing allocation of available resources to achieve the given ends. The application of…
How does economic theory contribute to managerial decision ?
Economics through ,variously defined is essentially the study of logic, tools and techniques of making optimum use of the available resources to achieve the given…
What do you understand by Opportunity cost ?
The concept of opportunity cost is attributed to the alternate uses of scarce resources. Resources both natural and man made, are scarce in relation to…
Opportunity Cost in Finance
Suppose a firm has Rs. 100 million at its disposal and there are only three alternative uses :- Alternative:- To expand the size of the…
Opportunity Cost in Production
Suppose that a firm has a sum of Rs.100000 which it has only two alternative uses. It can either buy a printing machine or alternatively…
Opportunity Cost in Marketing
Suppose a company can sell a basket of apples for Rs. 1000/- in foreign market, for Rs. 600/- in domestic market . The company hence…
Service Advertising
I would like to ask you a very simple question. What do you mean by services? Well, the following essential points about what constitutes a…
Corporate Advertising
In this form of advertising an institution presents its own story to build up an image of itself in the minds of the public. It…