The project has severalparts, each of which must be answered to complete theproj

Question

The project has severalparts, each of which must be answered to complete theproject.

1. Select two companieswhose product(s) you use in your daily life. You may choose anyfirms you wish, as long as their information is publicly available(as to their products and financial information) and they are knownto the average person.
2. Describe, in detail,each company's product line in terms of:
   1. Product description andusage
   2. Factors that determinethe demand for the products
   3. Factors that determinethe supply of the products
   4. Available substitutesfor the product
   5. Available complementsfor the product
   6. Is demand for theproduct elastic or inelastic in the short run? In the longrun?
   7. Is the firm's productioncapital-intensive or labor-intensive? How important is technologyin the producing the product? Why?
3. In which of the fourmarket structures does each firm operate? Describe the attributesof the firm's market that show why that is the relevant marketstructure.
4. What do you think arethe long term prospects for the product? Why?

Explanation / Answer

Company      :   Colgate Total                     :   Gillette Product         : Colgate Total                      :  GilleteMach3 razor Describe, in detail, each company's product line in termsof: ======================================== Colgate Total containsthe anti-microbial ingredient triclosan, which reduces the number of bacteria that causegingivitis, cavities and halitosis. The GilletteMach3 is a line of safety razors produced by Gillette andintroduced in 1998 after more than $750 million in research anddevelopment costs. The three blade design is marketed by Gilletteas allowing for a shave with less pressure to the skin and withfewer strokes, thereby reducing skin irritation Factors that determinethe demand for the products (you need to elaborate withreference to each product) ================================== 1)   Changing price of a substitue 2)   Changing price of a complement 3)   Change in the income of theconsumers 4)   Changes in taste and preference 5) Change in government policy Is demand for the product elastic or inelastic in the shortrun? In the long run
===================================================
Example
======
If people consider Darlie toothpaste to be a close substitute forColgate toothpaste, then if the price of Colgateincreases, ceterisparibus, many consumerswill switch to Darlie. Hence, the demand for Colgate is quiteelastic.

Is the firm's productioncapital-intensive or labor-intensive? How important is technologyin the producing the product? Why?
================================================================================ Capitalintensive - this is where techniques are used to producethat use relatively more capital than labour.
Labour intensive - this is where the proportion of labourused in producing the product is relatively high. Labour willusually be used instead of capital. obviously Colgate Total andGillette Match3 are capital intesive. In which of the four marketstructures does each firm operate? Describe the attributes of thefirm's market that show why that is the relevant marketstructure ================================================================================= MonopolisticCompetition Monopolistic competition isdefined as “a market structure in which several or manysellers each produce similar, but slightly differentiated products,each producer can set its price and quantity without affecting themarketplace as a whole Monopolistic competition isdefined as “a market structure in which several or manysellers each produce similar, but slightly differentiated products,each producer can set its price and quantity without affecting themarketplace as a whole Oligopoly Oligopoly involves only a fewsellers of a standardized or differentiated product; so each firmis affected by the decisions of its rivals.
Perfect Competition Characteristics that make perfectcompetition unique are the market usually involves identical,standardized products that are produced in mass quantities. Perfectcompetition products do not set pricing and market entry and exitis easy for an organization.
Monopoly monopolist is a pricemaker. With the above outline I expectyou can complete your project. Instead you can also choose Pepsi/ Nestle Powder milk / Nestle Coffee mate / other FMCGgoods
monopolist is a pricemaker. With the above outline I expectyou can complete your project. Instead you can also choose Pepsi/ Nestle Powder milk / Nestle Coffee mate / other FMCGgoods

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.