Monopolistic Competition in the Retail Industry Essay

Monopolistic Competition in the Retail Industry Defining the Market The retail industry is comprised of thousands of different brands and companies. However each is defined by its quality of make and materials used. Abercrombie Fitch, Timberland, and Guess are all well-known and respected brand names. However if prices were to exceed what people are willing to pay, then the consumers would alter their preferences and buy from another brand. Therefore we are dealing with a monopolistic competition. Monopolistic competition is often defined as: a common form of industry structure characterized by a large number of firms, none of which can influence market price by virtue of size alone; some degree of market power is achieved by†¦show more content†¦Lately the retail industry has been using celebrity endorsement as an effective way to increase sales. Paris Hilton is the spokeswoman for Guess while many black, male celebrities are seen sporting Timberlands. Timberland and Guess also make extensive use of magazine advertisements. Abercrombie Fitch has promoted itself in a radical way. Never featured on magazine advertisements or on TV commercials, Abercrombie has been established since the 1800?s and has spread itself through word of mouth and is now the premier clothesline for casual wear among American youth. It is in fact the #1 demanded clothing line on Ebay as well. III. Strategies for making profit : Short run All firms which are monopolistically competitive must examine short-run and long-run strategies. In order to maximize profits, all firms, regardless of their market structure must produce to the point where marginal revenue equals marginal costs. These costs refer to economic costs (which include sunk, accounting, and opportunity costs). Monopolistically competitive firms have a downward sloping demand curve because they are price makers, yet because prices are constricted by the demand of the consumers. As mentioned before, the market structure follows both perfectly competitive firms and monopoly forms of structure. Short-run, the industry functions like a monopoly while in the long-run, the industry functions more like a competitive firm.Show MoreRelatedMonopolistic Competition in the Retail Industry986 Words   |  4 PagesMonopolistic Competition in the Retail Industry The retail industry is a prime example of the modern version of Chamberlin and Robinson’s model of Monopolistic Competition (Grewal, 441). The retail industry consists of vast markets with different brands and goods of one common goal, to sell their products. To cater to this rapidly changing market many large scale retailers are findings ways to make their product more appealing to the public in hopes of gaining market share over their competitionRead MoreMonopolistic Competition Of The Retail Industry : A Look At Fast Food1873 Words   |  8 PagesMonopolistic Competition in the Retail Industry: A Look at Fast Food From an economic perspective, the retail industry can be identified as having four distinct forms of competition: perfect competition, monopolistic competition, oligopoly, and monopoly. This paper shall examine those constructs briefly, and then discuss in depth, the concept of monopolistic competition in the retail industry, using fast food as an example. There are really limited examples of perfect or pure competition, wherebyRead MoreTypes of Market Environments and the Internets Affect907 Words   |  4 Pagesis being targeted. Whether it is the agricultural industry, the retail sales industry, the automotive industry or the utilities industry, each market has its own type of business environment that it operates under. In recent years, the emergence of the Internet has shifted the balance of power in most industries. In order to explain today’s market environment clearly, it is better to break down each type of market environment. Pure competition is the most consumer-friendly type of business environmentRead MoreWhat Company Got So Big That Even Weird Al Yankovic1688 Words   |  7 Pages1995). EBay, when considered as a single business entity, follows the perfect competition business structure. EBay, when considered as a market place for multiple sellers, follows an oligopoly, monopolistic competition, and perfect competition business structure. The different business structures must be understood before analyzing what business structures eBay follows. So, what is Perfect Competition? 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An Effective Foreign Policy Is Essential For A Nation

An effective Foreign Policy is essential for a nation to function in a world economy Today more than ever before we can travel and communicate with foreign countries at lightning speed. Whereas before it may take weeks or months to contact another country today, we can reach into our pocket and contact a person over 7,000 miles away. What us to take us months to get to another country now can be accomplished hours. We personal can become part of the international trade by just sitting down at our computer and ordering shoes directly from Pairs France, camera equipment from Beijing China and eyeglasses from Mumbai India. Without the United States taking a progressive stance on Foreign Policy we may be destined to putting our economy at further risk of failure. All we need to do is look to the past to get a good indication what are the economy will do if our country decides to put its foreign policy on the back burner instead of making it a major part of our new political transition. Early on in the creation of this county’s government, our for father knew that for us to grow as a nation, we would have to look to allies and neighbors far and wide. Today are foreign policy circumnavigate the globe; we have diplomatic relations with 190 countries and 265 diplomatic missions.† American diplomacy is as old as the country itself. In 1776, Benjamin Franklin traveled to Paris to serve as a commissioner on behalf of his newly declared country and solicit the support of the FrenchShow MoreRelatedThe Sovereignty Solution By Simons, Mcgraw And Lauchengco Essay1739 Words   |  7 PagesSolution is the book of choice that was evaluated. This book presents to the readers a radical way to deal with strategy – a persuasive, credible and clear contention recommending a basic and significant move in the way Americans characterize their nation s strategy. 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Business Research Environment Tourism in Gold Coast

Question: Discuss about the Business Research for Environment Tourism in Gold Coast. Answer: Introduction Gold Coast tourism is a membership based tourist firm prearranged for endorsing the particular metropolitan as a commerce event destination by global and domestic trade. In addition to this, Gold Coast also intends to enhance the popularity by various travel and media industry channel in Australia. The aim and objective of this firm is to develop the tourist visitation, demand and expenditure to the Gold Coast (Sharpley 2014). The environmental analysis of the particular organization executes different growth opportunity and these can be evaluated in an effective way. In addition these, this research study would mainly facilitate the identification of the challenges that the management of Gold Coast faces in order to expand the opportunity of business in the global platform. Therefore, in other words, it can also be said that the intention of the work is to arrange for a detailed investigation regarding tourism activities in the Gold Coast. This will help the researcher to identify t he opportunities in order to enhance the particular industry in an effective way. Nevertheless, this research study would also contribute to identify the challenges to Gold Coast for the expansion of business. Thus, the research objectives of this particular research study are firstly, to evaluate the various opportunities for Gold Coast in order to widen the tourists visitation in an efficient manner. Secondly, to identify the chief challenges for improving the effectiveness of the business in Gold Coast. Lastly, the goal of this investigation is to recommend few steps by implementing which the arrival of the visitors and the expenditure of the visitors in the business can be increased and improved. Overview of research study: The article Transforming the Tourist City into a Knowledge and Healthy City: Reinventing Australias Gold Coast mainly indicates the opportunities for Gold Coast that will help to widen the visitation of the tourists in an efficient way. As per the article, the intention is to convert the urban area Gold Coast into a city that will be mainly utilized by the both inbound and outbound tourists. This can be made possible through fast augmentation of the council of Gold Coast that hunts for diversification of the culture, financial system and the daily life of the people of the particular city. The particular article examines this transformation by the process of reviewing the programs, projects and policies that arise from the vision of Gold Coast City Council regarding the particular town that achieves benefits from the data and information that are regarding the improvement of the city. Secondly, it has been found that this particular research paper mainly aims to identify the challeng es and opportunities in the development of the budding sophisticated town as a city of health and knowledge (Epublications.bond.edu.au 2016). This research work mainly highlights on larger health and knowledge nodes along with main highways. However, this also examines the potential for the development of a system consisting of minor nodules along with enriched transportation system. Therefore, it can also be said that this research work provides an additional integrated and holistic outlook in order to sustain both the city and area in the long run. Overview of methodological approach: This particular research work has been done on the basis of the documentary research of the secondary materials. These include the documents of the government plans and policy that are related to the economic development, community planning, urban design and major infrastructure projects (Punch 2013). In addition to this, the documentary research is supplemented by the spatial analysis. This involves visiting the field to the minor and major health and/ or knowledge nodes in the contexts of suburban and urban. Overview of research strategy: A particular research strategy helps the researcher to investigate the problem statements of the research work. Therefore, it can be said that research strategy is a general plan that helps the researcher to answer the research questions in an accurate and systematic manner (Creswell 2013). A research strategy is considered as the effective method only if the strategy contains research aims and objectives, research questions and data collection resources. Research strategy is also helpful to the research as it helps to gather data through particular data collection methods. It can also be said that in an effective research strategy, a researcher might gather background information and can analyze the collected data and information to reach a particular conclusion (Steyerberg et al. 2013). In this article, the particular researcher has opted for two important research strategies analysis of the literature review and case study. Overview of data collection methods: In the particular research study, the researcher has collected data from the secondary resources. This includes the case study on Gold Coast, books related to the research topic, websites, previous journals and articles. Therefore, in this research work, qualitative analysis has been performed in order to analyze the gathered data (Smith 2015). Implications of research for the proposed research project: The findings of this research paper will help in practical application for the council of Gold Coast City by providing critical review regarding the strengthening of current programs and policies of the Council on knowledge precincts, urban health and health hubs (Amelung and Nicholls 2014). In addition to these, the particular research work will also help to study the other cities that are primarily based on travel and tourism dependency. Therefore, this research study and its findings will also help the researcher in the proposed research work, as the findings will help to gather data regarding the opportunities for Gold Coast that will widen the visitation of the tourists in an efficient way. Overview of research study: The article International Visitors in Australia mainly indicates the reasons and also recommends a few steps by implementing which the arrival of the international visitors in Australia has increased. Thus, this particular article helps to understand the reasons for increased numbers of visitors in Australia and this will also help the researcher to predict the trend of tourism industry or numbers of visitors who will visit Gold Coast in future. This research study has been performed based on the survey of the international visitors who visit Australia. This specific article is the quarterly report of the international visitor survey for the month of June 2013 (Tra.gov.au 2016). Overview of methodological approach: This particular research work has been done on the basis of the primary research. This includes the survey of international visitors and for this a fixed sample size has been selected. On the basis of the survey, in this research work, quantitative analysis of the collected data and information has been performed. As per the particular article, it has been found that the International Visitor Survey (IVS) mainly symbolizes the sources of comprehensive data and information regarding the worldwide travelers to the particular country. The IVS samples of 40,000 depart temporary global travelers who are 15 years old or more and those who visits the particular nation (Dedekorkut-Howes and Bosman 2015). The survey of the specified research work has been performed by Computer Assisted Personal Interviewing in the department of leaving sprawls of eight key intercontinental airports. These include the Gold Coast, Darwin, Adelaide, Perth, Cairns, Brisbane, Sydney and Melbourne. Overview of research strategy: A research strategy is considered as the effective method only if the strategy contains research aims and objectives, research questions and data collection resources. However, in this particular article, research questions are provided. Research strategy is helpful to the research as it helps to gather data through particular data collection methods (Segall 2013). It can also be said that in an effective research strategy, a researcher might gather background information and can analyze the collected data and information to reach a particular conclusion. In this article, the particular researcher has opted for only one research strategy and that is the survey analysis. It has been found that the survey analysis strategy helps the researcher of the research study to gather quantitative information and data. More, this survey strategy also helps the researcher to gather general views of people. Overview of data collection methods: The researcher of the particular research work has conducted a survey and from this survey the researcher has collected various data and information regarding the research topic. The survey was consisted of 100 questions that were supported by show-cards in order to guide the participants of the survey to respond to the answer in some specific areas (Creswell 2013). These specific areas include repeat visitation, usual place of residence, group tours, activities, demographics, expenditure, travel party, accommodation and transportation, purposes of visit and places visited and sources for achieving information regarding Australia. Therefore, it can be said that the data and information were collected by conducting a survey and these data were analyzed by the researcher quantitatively. Implications of research for the proposed research project Therefore, this research study and its findings will also help the researcher in the proposed research work, as the findings will help to gather data regarding the causes for increased numbers of visitors in Australia. This will also help the researcher to predict the trend of tourism industry or numbers of visitors who will visit Gold Coast in future (Dredge and Jamal 2013). The particular article will help to understand the facts and figures and on the basis of these the proposed research can be done easily. Overview of research study: The article The Critical Decade Queensland climate impacts and opportunities mainly indicates the chief challenges that Gold Coast faces and the recommendations for improving the effectiveness of the business in Gold Coast. In this article primarily the adverse effect of the climatic change has been highlighted on Queensland as well as on Gold Coast. The particular article focuses that the tourism industry of Queensland is at risk due to climatic change (Ma and Hassink 2013). It has also been highlighted that the rise in the sea-level has threatened the lifestyles and properties of Queensland. At present, it has been found that the Gold Coast has more houses than any other part in Queensland. However, it has been noted that most of the houses in the Gold Coast lies within 110 meter of erodible coastline (Climatecouncil.org.au 2016). Therefore, over 4,000 residential buildings in the Gold Coast are at risk (Climatecouncil.org.au 2016). Moreover, there is a probability that the potent ial spread of dengue fever will increase sharply in the particular area causing human health hazards. These act as the major challenges for the growth of tourism industry in Gold Coast. Overview of methodological approach: This particular research work has been done on the basis of the documentary research of the secondary materials. These include the documents of the government plans and policy that is related to the economic development, community planning, built environment, coasts at risk, agriculture and human health. In addition to this, the documentary research is supplemented by the spatial analysis. Overview of research strategy: Research strategy helps to gather data through particular data collection methods. It can also be said that in an effective research strategy, a researcher might gather background information and can analyze the collected data and information to reach a particular conclusion (Farrington 2012). In this article, the particular researcher has opted for only one important research strategy and that is analysis of the literature review. Overview of data collection methods: In the particular research study, the researcher has collected data from the secondary resources. This includes books related to the research topic, websites, previous journals and articles. Therefore, in this research work, qualitative analysis has been performed in order to analyze the gathered data (Marshall and Rossman 2014). Implications of research for the proposed research project Therefore, this research study and its findings will help the researcher in the proposed research work, as the findings will help to gather data regarding the chief challenges that Gold Coast faces. It will also help to recommend the steps for improving the effectiveness of the business in Gold Coast. Conclusion Therefore, it can be concluded that each of the three articles provides with various data, information, facts and figures will help the researcher to perform the proposed research work. The methodology for conducting survey and also for collecting data and information through secondary resources can also be better understood from the above articles. The importance of implementing various research strategies based on different aspects can also be considered as a helpful element for the researcher to complete the proposed research study. Moreover, the various methods of data collection will also provide the researcher with different opinions in order to conduct the particular proposed research study successfully. References Amelung, B. and Nicholls, S., 2014. Implications of climate change for tourism in Australia.Tourism Management,41, pp.228-244. Climatecouncil.org.au. 2016.Climatecouncil.org.au. [online] Available at: https://www.climatecouncil.org.au/uploads/d71d70af18c737ae9f175598c831ae45.pdf [Accessed 18 Aug. 2016]. Creswell, J.W., 2013.Qualitative inquiry and research design: Choosing among five approaches. Sage. Creswell, J.W., 2013.Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications. Dedekorkut-Howes, A. and Bosman, C., 2015. The Gold Coast: Australias playground?.Cities,42, pp.70-84. Dredge, D. and Jamal, T., 2013. Mobilities on the Gold Coast, Australia: Implications for destination governance and sustainable tourism.Journal of Sustainable Tourism,21(4), pp.557-579. Epublications.bond.edu.au. 2016.Epublications.bond.edu.au. [online] Available at: https://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1146context=sustainable_development [Accessed 18 Aug. 2016]. Farrington, D.P., Ohlin, L.E. and Wilson, J.Q., 2012.Understanding and controlling crime: Toward a new research strategy. Springer Science Business Media. Ma, M. and Hassink, R., 2013. An evolutionary perspective on tourism area development.Annals of Tourism Research,41, pp.89-109. Marshall, C. and Rossman, G.B., 2014.Designing qualitative research. Sage publications. Punch, K.F., 2013.Introduction to social research: Quantitative and qualitative approaches. Sage. Segall, M.H., 2013. Aggression in global perspective: A research strategy.Aggression in Global Perspective: Pergamon General Psychology Series,115, p.1. Sharpley, R., 2014. Host perceptions of tourism: A review of the research.Tourism Management,42, pp.37-49. Smith, J.A. ed., 2015.Qualitative psychology: A practical guide to research methods. Sage. Steyerberg, E.W., Moons, K.G., van der Windt, D.A., Hayden, J.A., Perel, P., Schroter, S., Riley, R.D., Hemingway, H., Altman, D.G. and PROGRESS Group, 2013. Prognosis Research Strategy (PROGRESS) 3: prognostic model research.PLoS Med,10(2), p.e1001381. Epublications.bond.edu.au. 2016.Epublications.bond.edu.au. [online] Available at: https://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1146context=sustainable_development [Accessed 18 Aug. 2016]. Tra.gov.au. 2016.tra.gov.au. [online] Available at: https://www.tra.gov.au/documents/International_visitors_in_Australia_June_Qtr_2013.pdf [Accessed 18 Aug. 2016]. Climatecouncil.org.au. 2016.Climatecouncil.org.au. [online] Available at: https://www.climatecouncil.org.au/uploads/d71d70af18c737ae9f175598c831ae45.pdf [Accessed 18 Aug. 2016]. tra.gov.au. 2016.tra.gov.au. [online] Available at: https://www.tra.gov.au/documents/International_visitors_in_Australia_June_Qtr_2013.pdf [Accessed 18 Aug. 2016].

John Rofle Essay Example

John Rofle Essay Not much is known about Rolfes early life except that he was born around 1585 and was probably the son of a small landholder in Norfolk. In June 1609, Rolfe and his wife sailed for North America aboard the Sea Venture, as part of a new charter organized by the Virginia Company. The ship was caught in a hurricane in the Caribbean and wrecked on one of the Bermuda islands. The group finally arrived in Virginia, near the Jamestown settlement, in May 1610, and Rolfes wife died soon after their arrival. Native Americans living in the region around Jamestown spoke the Algonquin language, and were organized into a network of different tribes led by Chief Powhatan. One of the chiefs daughters was Matoaka, who as a child was nicknamed Pocahontas (Little Mischief). The English settlers at Jamestown had known of Pocahontas since 1607, when she was only around 10 years old. Captain John Smith later wrote that the young princess rescued him from death when Powhatan held him captive in December 1607. In 1613, the English captured Pocahontas and held her for ransom. While in captivity, she studied English, converted to Christianity and was baptized with the name Rebecca. John Rolfe is credited by Ralph Hamor, then Secretary of Virginia, with the experiment of planting the first tobacco seeds that he obtained from somewhere in the Caribbean, possibly from Trinidad. I may not forget the gentleman, worthie of much commendations, which first tooke the pains to make triall thereof, his name Mr. John Rolfe, Anno Domini 1612, partly for the love he hath a long time borne unto it, and partly to raise commodity to the adventurers Rolfe gave some tobacco from his crop to friends to make a triall of, and they agreed that the new leaf had smoked pleasant, sweete and strong. The remainder of the crop was shipped to England, where it compared favorably with Spanish leaf. John Rolfe died sometime in 1622. Although a third of the colony was killed in the Indian uprising of that year, it is not known how Rolfe died. In a life that held much personal tragedy, he had given the colony its economic base. From, Brant Albritton We will write a custom essay sample on John Rofle specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on John Rofle specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on John Rofle specifically for you FOR ONLY $16.38 $13.9/page Hire Writer