ECONOMICS Essay Example | Topics and Well Written Essays - 500 words

ECONOMICS - Essay Example In a perfectly competitive market where the consumer is well-informed of the prices of all commodities sold in the market, Perfectly Price Elastic goods are said to exist, wherein even just a very small increase in the price of the good will make the quantity demanded drop to zero. Cross-Price Elasticity (with Substitutes and Complements) Whereas Elasticity of demand refers only to one product, Cross-Price Elasticity is a study of demand elasticity between two goods in the market. Cross-Price Elasticity refers to inter-relation of two goods in the market, looking into the effects that an increase in the price of Good A procures to the quantity demanded of Good B. If an increase in the price of Good A increases the quantity demanded of Good B, then the two goods are said to be Substitutes, where Good A could just substitute and replace Good B, and vice versa, for the consumer demand. However, should the increase in the price of Good A pulls down the quantity demanded for both products , then it can be said that the pair of goods is a Complements.

The Market and Marketing of Verizon Business Research Proposal

The Market and Marketing of Verizon Business - Research Proposal Example On the other hand, Verizon wireless had a net gain of $1.8 billion retail subscribers and customer growth from the first and second quarter. In order to have a better understanding of where Verizon is perceived in the market, there will be two areas which will be covered for this purpose of the research. The research will be focusing on the non-Verizon customer, for a greater depth in understanding the reasons why Verizon is not attracting them. This report will mainly focus on two areas which Verizon should improve: The main reason why Verizon's customer base has been decreasing and well as taking their Verizon because it needs to focus most of its attention to the wireless affiliate because that's what is giving Verizon a competitive advantage. Verizon will have to create something new for the phone company and to do so they might have to increase the expenses a little to be more technologically advanced. However, their net income would increase and they would get more customers. As the Mintel report depicts that Verizon and Sprint both show higher-than-average shares of those who earn above $100k, Verizon and Alltel (not shown) are the only Top Five brands to have an above-average share of white customers and below-average share of all minority subscribers. Therefore in the light of all these developments Verizon's market strategy should be to include: A focus   on reasons why it is not capturing the subscription base of other ethnic groups rather than mainly higher income and white respondentsThey should also focus of what will attract other race or ethnicity groups to become part of their customer base. A review of the advertising practices and strategies in this regard. The relevant price and discount strategies. Currently, Verizon has an average share of those customers who earn above $100 k per annum   The purpose of this study is to find out the critical reason why Verizon is losing its market share. This study has been conducted for the purpose of understanding the market strategies of other telecom providers and to investigate reasons for diminishing customer base and strategies to attract new customers. There also needs to be an inquiry into how the present customer base can be successfully retained, in a more profitable context. This section will mainly focus on the consumer trends of all ethnicities with an income of over 100k per annum.