Hello, I need help. Instructions: The answer is general no need for deep details
ID: 1225149 • Letter: H
Question
Hello, I need help.
Instructions:
The answer is general no need for deep details
Provide written answers to the following question. Discuss and explain sufficiently.
Problem A:
Schmeckt is an energy bar company who wants to release a new product which is Schmeckt Besser energy bar.
knowing different market structures,
1- What is your suggestion to the Board to ensure a smooth introduction of the Schmeckt Besser energy bar? Your answer should be related to the different market structures discussed in Module.
Hint:
in order to answer this question, you have to consider that the Schmeckt Besser energy bar is going under the monopolistic competition
Explain briefly about the monopolistic market; use a graph to explain it.
Introduce Besser energy bar, set several virtual advantages of this bar from your choice, for example it will make give you energy to run for longer time
Talk about the short run and the long run effect of this product
2- Can you think of specific tasks for the Schmeckt Gut Research Department in reference to a market structure analysis? Explain!
Hint: in order to answer this question you have to explain the idea of market structure, “perfect, monopolist, monopolistic, oligopolistic) in a small paragraph.
Talk about the differentiation of the product, talk about several points that make the product differentiated (for example, it is a new product, after sales service, geographical location and other 4 points of your choice)
please and thank you.
Regards,
Explanation / Answer
1. IN THE MONOPOLISTIC MARKET THE FIRM HAS TO USE PRODUCT DIFFERENTIATION TO GET ITS PRODUCT IDENTIFIED. IN CASE OF THE SCHMEKT ENERGY BAR THE SAME THING NEEDS TO BE APPLIED. IN THE SHORT RUN WE CAN PROPOSE THE PRODUCT AS A INSTANT ENERGY PRODUCT TO BE EATEN JUST BEFORE THE ENERGY CONSUMING WORK TO BE DONE, IT CAN BE USED AT TIMES YOU FEEL TIRED AND SLEEPY TO REGAIN YOUR ATTENTIVENESS, ALSO IT CAN BE A GOOD SUBSTITUTE FOR THE DAYTIME SNACKS ATLEAST ONCE A DAY. IN THE LONG RUN THE PRODUCT CAN BE USED AS HEALTH SUPPLEMENT, A STOREHOUSE OF ENERGY AND NUTRITION AND ALSO A SUPPLEMENTARY FOOD.
2. THE PRODUCT CAN BE DIFFERENTIATED ON THE FOLLOWING LINES
A) THE PRODUCT IS THE BEST ENERGY BAR ON THE MARKET.
B) IT HAS UNIQUE INGREDIENTS COMING FROM NATURAL SOURCES.
C) THE PRODUCT IS SUITABLE FOR ALL AGES EXCEPT INFANTS UPTO 3 YEARS AND BELOW.
D) NEW FORMULA WITH BETTER AND FASTER RESULT.
E) AVAILABLE THROUGHOUT THE STATES AT ALL LEADING STORES AND RETAILERS.
F) USED BY THE FAMOUS AND THE COMMON BOTH.
G) NO ADDED PRESERVATIVES AND ARTIFICIAL TASTE AGENTS.
I) LOW FAT AND SUGAR FREE VERSION ALSO AVAILABLE.
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