Examining the Market Structure of Barbershops - 1606 Words

E x t e n d e d e s s a y I n h l e c o n o m I c s T o p I c : Examining the Market Structure of Barbershops in West Amman I n t r o d u c t I o n For a male living in Amman, getting a decent haircut is quite an undertaking. I myself have witnessed this first hand, having tried over ten different barbershops and even trying to cut my own hair at one point but to no avail. The main problem I find here is the lack of expertise in most of these barbershops. None of them seem to have the appropriate training or the skills needed to be able to fully satisfy their customers and give them the perfect haircut. Looking at it from an economics point of view, I was very interested in finding out the market structure which†¦show more content†¦The demand curve for a monopolistically competitive firm is downward sloping but highly elastic due to limited price control. Firms will operate where their marginal revenue curve meets their marginal cost curve Ââ€" at their profit maximization point. Contrary to monopolistic competition, oligopolies involve much less competition with only a few large firms dominating the market and controlling most of the market share. High barriers to entry are set up which allow these firms to maintain their dominance as well as their profits. This market structure is characterized by the interdependent nature of its firms. In order for one firm to survive, it needs to closely monitor the behavior of its rivals. Each firm must consider the reactions of other firms when making their own decisions on output and price. This interdependence between firms is the main reason why oligopolies rarely compete over price. Firms are afraid of starting a price war . If one firm decides to lower its prices, the others will probably do the same in order to remain competitive, so they each manage to maintain the same market share relative to each other, but each one loses some revenue. Also it is not wise for a firm to raise it prices because consumers will t hen automatically switch away to buying cheaper substitutes from rival firms, and so its market share will fall drastically. Thus an oligopolistic firm faces not one but two demand curves, each with a different elasticity.Show MoreRelatedPlanning Is The Process Of Determining Appropriate Goals And Courses Of Action1401 Words   |  6 Pageswell as what the company does (i.e. selling goods or services) and who they do it with (i.e. people of certain demographic or geographic location). The next phase in the planning process is formulating a strategy. Formulating a strategy is done by examining a company’s present situation and creating strategies to overcome any challenges facing the company. This method gives people from different departments direction which is advantageous when attempting to achieve the company’s desired future stateRead MoreDiageo Marketing Strategy2798 Words   |  12 Pagesbrands than any other drinks company and market leadership in many of the major growth markets around the world. Diageo’s unique STP strategy has allowed it develop into a globally renowned brand with an operating profit of over  £2 billion in 2005. With its headquarters in London, Diageo has experienced rapid expansion with over 80 offices worldwide employing around 20,000 workers. The firm’s recent success can be largely attributed to its efficient market segmentation and product diversificationRead MoreMarketing Strategy and the Contemporary Challenges in Marketing Effectivness: a Case Study15886 Words   |  64 PagesTransport would be taken. Some of the theory revealed that organizations that engaged in strategic management generally outperform those that do not. The attainment of an appropriate match or â€Å"fit† between an organization’s environment and its strategy, structure, and processes has positive effects on the organization’s performance. For example, a study of the impact of deregulation on U.S. railr oads found that railroads that changed their strategy as their environment changed outperformed those that didRead MoreQmb 360013075 Words   |  53 Pagesprice break by buying ice in bulk. Second, the cost of larger iceboxes can be spread over more units (sales), keeping the cost per sale low. Text problem p. 279 also asked for conditions that might lead to diseconomies of scale. PROBLEMS 1. Bill’s Barbershop a. B3-a = 10+8+15+20+9 = 62 minutes B3-b = 10+8+10+20+9=57 minutes b. B4 c. process cycle time is 20 min./60 = 3 customers/hr. (8 hrs) = 24 customers per day 102 PART 2 Managing Processes 2. Barbara’s Boutique a. 3 [the bottleneck is

Introduction of Coffee Drink in Prague Research Proposal

Essays on Introduction of Coffee Drink in Prague Research Proposal The paper "Introduction of Coffee Drink in Prague" is an excellent example of a research proposal on statistics. The main aim of the research is to determine the reaction of the residence of Prague on the introduction of coffee drink to the region. Study design The study design shall be descriptive and cross-sectional which shall be carried out in the Prague area. The study shall employ the descriptive and cross-sectional study design because they involve establishing information concerning knowledge, attitude and the practice of the people of Prague towards coffee drink. The major advantage of using this sturdy design is because; descriptive sturdy design helps to determine and reports the way things are and fully describes the behavior, values, attitudes, and characteristics of the community. While the cross-sectional study design helps in ensuring that an adequate population is reached. Study Area The study is to be carried in Prague. Prague is a region that has different people o f cultures, taboos, and religion. It provides a good sample population since they shall provide different and genuine results that are not biased. Study population The study population is focused on both genders above 12 years of age, and residing in the Prague area. Before the interview begins, permission shall be obtained from the local area administrator and the respondent will be explained to the importance of the research in the area, afterward, their consent is obtained. Inclusion ad exclusion criteria Inclusion criteria All men and women above 12 years of age All men and women above 12 years consenting to participate All men and women above 12 years present in Prague during the study period Exclusion criteria All men and women outside the study area All men and women above 12 years with no consent to participate in the study All men and women above 12 years absent during the study period Sampling technique and sample size Sampling technique The respondent is selected in Prag ue using a systematic random sampling technique Sample size Yamane’s formula is to be used to calculate the sample size. This is in accordance with Israel in 2006, a simplified method that can be used to calculate proportions. The formula has also been used in a number of studies involving a known finite population. The formula is:n- The sample sizeN- The population, which will be given by 10% of the men and women of Praguee- The desired level of precisione- Level of acceptable error = 0.05  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  My target group has a total of 1200000 people, therefore, = 120000Hence, my study population is 120000My sample population is;  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  N= 120000  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   e = 0.05   n=  =398n= 398 which is my sample size.  Pre-testing The questionnaire that is made is to be pretested in a particular area, by giving 20nmen and women to fill. It will help to test the efficiency and the e ffectiveness of the questionnaire to collect the required data during the actual study to meet the objectives. Adjustments shall be done to ensure the volatility and reliability of the data during the actual study. Data management and analysis The data gathered will be processed in a stepwise approach, that be shall start by data cleaning to ensure all incomplete questionnaires are not analyzed. The completed questionnaires are coded for easy handling. The coded data is entered in the computer as a back up to the hard copy. Data analysis is done by the use of SPSS and Microsoft office excel. The quantitative data is presented and displayed by the use of graphs representation in the form of tables, bar graphs and pie-charts(Associate Onwuegbuzie 2010, P. 11).

Reynolds Price on writing for performance Essay Example For Students

Reynolds Price: on writing for performance Essay TCG has just published Full Moon and Other Plays, the second collection of plays by award-winning novelist Reynolds Price. Like his dramatic trilogy, New Music (published by TCG in 1990), this new collection is graced with Prices undisputed talents for compassionate characterization and lyrical prose. Spanning his professional playwriting career, the collection includes Full Moon (1992), Private Contentment (1982) and Early Dark (1977). All three plays are delicate examinations of love, faith, family and race, written in the eloquent and witty vernacular of North Carolina. In this essay, written in the summer of 1990, Price explores why he writes for the stage and screen. The first sizable piece I wrote was a playa Christmas play in December 1946 when I was in the eighth gradeand I wrote it on my own time, without a school assignment and with no hope of a stage production. I cant remember why, beyond the fact that Id grown up as an avid consumer of the lively films of the 30s and 40s and that a touring troupe had visited our small-town school only a few months before. (I saw them play both Romeo and Juliet and The Taming of the Shrew and was deeply excited.) Even more crucially, Id grown up in two extended families of excellent and epic conversationalists; so my taste for good talk was keen. And by the time I was into adolescence, I understood what serious talking skills were now required of me economy, interest, drama and wit. Apparently Id also seen that similar skills could lead me from home and family to adult work and lasting rewards. But for years I was slack. Early in high school I wrote a screenplay about St. Bernadette of Lourdes for a planned neighborhood home movie production that failed for lack of funds. Then my courting of a stage or screen audience cooled for a long time, to revive only when I was commissioned in 1964 to adapt my first novel, A Long and Happy Life, for a film. When that script also failed to reach production, I waited more than a decade before rethinking it for that stage as Early Dark. Then at last I was given a deep, sweet taste of the working theatre the WPA Theatre in New York gave Early Dark a nearly ideal production in 1978 and at last I was caught. Id fallen in love, not only with the seductive, gritty air of the stage but with that art of playwriting, so different in its demands from the novel, the poem or the essay, and so refreshing by turns. In the early 80s then, I began a script for American Playhouse. That resulted happily in Private Contentment, which was broadcast in the Playhouses premiere season. Next, in the mid-80s, a commission from Hendrix College elicited a play called August Snow, which was so perfectly played by student actors that I was quickly led to write two further plays about the same characters. The resulting trilogy, New Music, charts the lives of one married couple, their kin and friends as they advance through the years from the 1930s to the mid-70s. It had a first and splendid production as a trilogy in the fall of 1989 at the Cleveland Play House, under a grant from the Fund for New American Plays. Since then Ive completed a sixth play, Full Moon, which had its professional premiere last spring at New Stage in Jackson, Miss.; and Im presently mulling at least one more. The challenge of conveying to an audience of strangers an arrestingly fresh but partly familiar world, with only the help of stripped-down speech and thoughtful bodies, continues to engage me powerfully and in ways that none of my other work affords; so I plainly hope to work ahead, long years to come, in the narrow but endless frame of the stage.