Demand and price elasticity of demand Essay Example | Topics and Well Written Essays - 1500 words

Request and value flexibility of interest - Essay Example On account of Bordeaux, the buyers had proposed a low wine cost. This infers lessening the cost of the wine will cause the ware to be progressively moderate to the customers (Sheffrin, B. 2003). This would expand the interest of the item along these lines expanding its flexibly. Increment in the gracefully of Bordeaux wine would expand the quantity of deals. Value versatility of a wares request includes a measure that is utilized in economies in indicating the flexibility responsiveness of the amount of the item that is requested towards an adjustment in the product’s cost. In this regard, it gives the rate change of the amount of the item that is requested to follow a reaction to an adjustment in the cost. Value versatility can be viewed as negative in spite of the way that investigation would consistently overlook the negative sign prompting equivocalness (Peters, K. 2006). A positive value versatility of interest happens for a situation where the items don't fulfill the law of interest. In this regard, the interest of the wine would be supposed to be inelastic when the value versatility of interest (PED) is beneath one. This suggests the value changes have an essentially littler impact on the measure of wine that is requested. Then again, the interest of Bordeaux wine would be supposed to be flexible at whatever point the value versatility of is mutiple. This implies the adjustments in the items cost would significantly impact the measure of the wine that is requested. On account of Bordeaux wine, the interest of the item could be supposed to be flexible. This is so on the grounds that the interest of this wine is firmly influenced by changes in cost. Subsequently, expanding the cost of the item would decrease the interest of the item where as lessening the cost of the item would have an impact of expanding request of the item (Knugman, R. 2005). It is hence that the dealers who were reached through The Times contend that they could possibly acknowled ge the wine when the cost of the wine is diminished to around ?95 out of 2008 for the best brands contrasted and the ?318 of every 2007 vintage (Sage, A. and Pavia, W. 2009). These financial specialists contend out that when the cost of wine is higher than the proposed one, there would be no clients. This is a reasonable sign that the interest of Bordeaux wine was flexible. Part B. The measure of the wine requested is typically a solid part of its cost. A contextual analysis never really out the amount of the wine requested at different value levels with the various elements kept consistent, would result into the table 1. Table 1. Request plan. year value Average value amount 2002 95 170 133 700 2003 192 253 223 500 2004 141 145 190 159 600 2005 472 480 622 523 300 2006 450 622 536 200 2007 318 466 392 400 Graph 1. The diagram speaks to the amount of the wine that is requested as the variable that is Independent (x-pivot) and the cost as the variable that is reliant (y-hub). As per the law of interest the amount of the item that is requested will consistently move towards the contrary value course. This is seen in the diagram above through the descending interest bend incline. At the point when one moves along the bend, an adjustment in the cost of the wine would result into an adjustment in the amount that is requested. At whatever point there exists an adjustment in the impacting factor other than value there could be a move in the interest bend either towards the privilege or the left,

Mia Brand Swot Analysis

TANISHQ INTRODUCTION Tanishq has extended its portfolio with the dispatch of sub-brand Mia, a line of adornments focused at working ladies. The line involves two unmistakable plans headings †one in the advanced and another in the ethno contemporary space. Mia is intended for ladies in a hurry, who are occupied with different callings and have a settled embellishment gathering, tragically barring gems. Fine adornments that working ladies purchase is generally for conventional events, and don't have a contribution for their day by day wear in the market. Tanishq is most appropriate to comprehend the necessities of these buyers and has assembled a magnificently made, all around planned adornments assortment, which will make them love to go to work. This assortment is high on structure remainder, light in weight, moderate and able for the present current lady. Mia has more than 100 plans estimated at Rs 5,999 onwards and the assortment is accessible over the 130 Tanishq outlets in more than 76 towns. The goal is to take gems wearing events past weddings and exceptional occasions. Kulhalli ,VP (retail, showcasing and stock) thinks focusing on the 5,000,000 working ladies is sufficient open door as expanding desire levels and the quantity of ladies entering the workforce will drive spending. The new sub-brand will likewise help open up another purchaser age gathering, in a gems advertise where heft of the deals is in the 30-60 age gathering. Plan PHILOSOPHY Mia Tanishq is a dazzling scope of fine, urban-chic, reasonable gems beginning at Rs. 999 solely made for Working Women to guarantee that you're acknowledged in your work spot and causes you to make the most of your work life more than ever. In light of 2 plan bearings, Quest (no start and no closure †Infinity) and Blossom (Born to Blossom †Born to Shine †Floral), this assortment is genuinely a victor at work. Really catching the substance of the urban, free working ladies, Mia is enlivened by the uniqueness of every single one of you and genuinely extends force, certainty and taste. SWOT ANALYSIS Strengths 1. It has a youthful and present day approach and plans are urban chic. 2. Reasonable value ranges are beginning from 5999 3. Promoting technique is solid and persuades the crowd. 4. Market extension is acceptable, accessible at different outlets Weakness 1. Solid contenders 2. Gold Perception †Since gold is normally considered as a venture and the gold costs are unstable. 3. Gold purchasing is for the most part thought to be a custom for events like wedding and other significant capacities . Opportunities’ 1. Target crowd is the common laborers lady in India, around 5 million lady are working in India in Tier 1 and Tier 2 urban communities so it is an extraordinary chance. 2. With Globalization, parcel of chances in the universal market. 3. It is a sub brand of Tanishq the main jwellery creators , and has great piece of the pie in Indian jwellery industry. Dangers. 1. Intense rivalry with other jwellery brands. 2. Neighborhood jwellery shops 3. Government guidelines 4. Criticalness on Gold.

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I Como vosotros debéis saber, voy a pasar el verano trabajando con Telefónica en Madrid. Pues, llegué el sábado pasado- entonces, hace dos semanas enteras que he vivido aquí. Tengo una habitación en la Puerta del Sol, un móvil nuevo (cuyo número todavía no recuerdo), un abono mensual para el metro, mi propio escritorio en la oficina, ya he comdio paella y tortilla española, y sé la manera más rápida de viajar a la oficina, y que quiere decir la noche madrileña. In other words, Im totally settled in! =) (Translation: As you guys should know, Im spending this summer working for Telefónica in Madrid. Well, I got here last Saturday, so Ive been living here for a two whole weeks. I have a room in Puerta del Sol, a new cell phone (whose number I still cant remember), a monthly metro pass, my own desk at the office, Ive already eaten paella and tortilla española, and I know the fastest way to work and what they mean by la noche madrileña- the night in Madrid.) So thats the one paragraph summary, but after that I dont even know where to begin. I guess the beginning is best- I got here Saturday afternoon and was met at the airport by Mónica, who is the sister of my friend Martín. (Their family used to live in Madrid when they were kids. Their parents moved with them to the US, but 3 of the 4 siblings have made their way back here to live, or study in college.) Martín was in most of my classes in high school (Spanish included), and even though he drove me crazy, he helped me learn a ton of Spanish. (If we were passing notes in class, not like we would ever do that, of course, but just suppose we passed notes in class about trivial gossip, he would insist that I respond to him in Spanish, then would return the note with his response, along with corrections on my grammar. Im not kidding. He totally (would) do that when (if) we passed notes.) Anyway, Mónica showed me around a little, and then took me to Puerta del Sol. Id been emailing with a woman who lives there about renting a room in her apartment, so I went to check it out. Well, its the smallest apartment I think Ive ever been in but I loved it, and its in a super cool area- Puerta del Sol is kind of like the Times Square of Madrid- there are more people in the streets outside my apartment at 2 AM than 2 PM, so its pretty cool place to live! So she (her name is Berny) told me to come back the next day with all my stuff (since I had already planned to spend the first night with Mónica). Then Mónica and I left to meet the rest of her siblings (Martín is studying in China right now, but thanks to him I already have a bunch of friends here!), and Berny left to go meet with another girl who might end up being my roommate. So we hung out around Puerta del Sol for awhile, then made our way back to the Metro so we could catch the last bus back to Mónicas house, which is actually in the suburbs. As soon as we entered the Metro stop, I heard someone yelling my name with an American accent. Um, what? It turns out it was Lauren M 10, who also lives on Conner 2, and who I knew was getting to Madrid the same day as me to start her job with GMV, an aerospace firm. Laura, guess what, I just got an apartment! And the moment she said that, I knew. With Berny, right? Yeah, do you know her? Okay, you math geeks, someone out there please tell me, in a city the size of Madrid, what exactly are the odds of that? So within 12 hours of landing in Barajas Airport, I had my first utterly insane story of the summer. My friends are always telling me that one day, my life will make a really entertaining movie. I spent the next day moving into my new apartment, tracking down the suitcase that never made it all the way to Madrid, buying a new cellphone, and trying to remember all that Spanish that I hadnt used in 3 years. Monday was my first day at work, and seriously, my job is awesome. I basically have a Media Lab UROP. Im working in the ambient intelligence group. Ambient intelligence is the idea that computing should be ubiquitous, invisible, and intelligent. So, for example, as you drive home from work, your car should send a wireless signal to your house and tell it to turn the heat back on. This means there are computers everywhere, theyre all connected, and they do what you want them to either without you telling them, or with a very natural interaction. Typing on a keyboard and clicking things with a mouse are very NOT intuitive. Computers should be able to recognize your voice and gestures, and react to you that way. Another good example is something that my coworker David is working on- a smart cell phone that offers tourist advice. Say youre out in an unfamiliar city, and youre getting hungry. Your cell phone can take your coordinates from its GPS, some preset preferences youve entered, the time of day, and recommend some nearby restaurants that are open at that time- and then give you directions right to its door. Maybe after you eat there you can tell your phone whether you liked it or not, and your phone would learn through experience, comparing possible suggestions to your rankings, and the rankings of other people in the network with similar preferences. So Ive been doing a lot of reading lately, half in English and half in Spanish, and most of it straight out of MIT. No joke. Most of the projects Ive been researching have been products of the Media Lab. I think my boss is trying to make me feel at home. Were still working on defining my specific project, but Ill keep you updated when I know more about it. So my job is cool, and my coworkers are even cooler. Ive made a bunch of new friends here, who are all super friendly and oddly excited to hang out with Americans. Ive already gone out with people from work at least 3 different times. They really like showing us typical hangouts in Madrid, and giving us advice about what to see and do. Plus, all of us speak varying levels of both English and Spanish, so we have a lot of bilingual fun teaching each other. David writes emails to me in English, and I respond in Spanish. Theres a sheet of paper on his desk to which I keep adding useful tidbits of American culture and the English language. I call it his American scrapbook. On Friday, Carlos spent all of our lunch hour making me attempt various Spanish tongue twisters so he could laugh at my accent. But let me tell you, hearing She sells seashells by the seashore in a Spanish accent is quite hilarious! So, Im having a great time over here! I live right near Puerta del Sol and La Plaza Mayor, which are famous sightseeing spots, so Ive seen them. I also took a trip to Retiro Park last Sunday, but other than that I havent really done many of the typical touristy things yet. Then again, there arent many. But Adelaide 09 is coming to visit this weekend, so well be sure to visit some of the more famous places when she gets here! (This all means that I have no pictures for you yet- sorry! I dont think Ive brought my camera with me anywhere yet!) Anyway, Madrid is more a city to be experienced than to be seen, and Ive been doing a lot of experiencing! I love the food. I am going to be so sad when I go back to the US and cant have chorizo anymore. (I mean okay, chorizo is possibly the most fattening food ever, but still.) Well, Ive got to go grocery shopping, so we can cook something in time for dinner- which is served around 10 PM over here. Ive actually gotten used to that pretty quickly, but Im still not used to eating my largest meal at 2 PM! (Spanish lunch is the biggest meal of the day.) Hasta luego!