Eco 550 Assignment 3 Scribd



Outline a plan that managers in the low-calorie, frozen microwaveable food company couldfollow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic. Provide a rationale for your response.

3 $o4 a$orie or hea$th! o5tion )ood is a )resh one5t 4hih has gained a $ot o) interest in toda!6s times& Restaurants0 shoo$s0 and even 5risons are )eeding hea$thier& More 5eo5$e 4ant to ,e hea$th! and $ive hea$thier $i)est!$es& This 5a5er 4i$$ out$ine a 5$an )or managers antii5atingrising 5ries0 e7amine the ma8or e))ets the government have on 5rodution and em5$o!ment0 determine 4hether government regu$ations ensure )airness0 e7amine the ma8or om5$e7ities under e75ansion via a5ita$ 5ro8ets0 and $ast$! suggest ho4 a om5an! ou$d reate onvergene ,et4een the interests o) sto9 ho$ders and managers&The Com5an! aims to 9ee5 the 5ries o) its 5roduts as ine$asti as 5ossi,$e& This means that the 5riing strateg! shou$d have no im5at on the 4a! the onsumers 5ereive and ,u! suh  5roduts De)inition o) Ine$asti0 n&d&;;& Genera$$! 4e see suh demand on$! in situations in 4hih the good or servies are indis5ensa,$e and the onsumers annot do 4ithout the 5rodut& This is not the ase )or miro4ava,$e )ood 5roduts&The demand )untion )or $o4 a$orie miro4ava,$e )oods $arge$! de5ends on the 5rie o) the merhandise0 its re$ative su,stitute; 5rodut0 advertisement overheads and $ast ,ut not the $east on the inome o) the onsumer&<rom the demand )untion and the e$astiit! onsidered0 it is esta,$ished that the mar9et )or the $o4 a$orie miro4ava,$e )oods )it into a mar9et o) mono5o$istia$$! om5etitive t!5e& 3 mono5o$isti om5etitive is distinguished ,! a reasona,$e num,er o) ,u!ers and se$$ers& 3s a resu$t 5eo5$e an hange to another ,rand i) a s5ei)i ,rand harges a soaring 5rie& =o4ever0 mono5o$isti om5etitive su55$iers arr! out 5rodut di))erentiation and onse'uent$! ,ringing


Legal and Ethical Considerations 3

Assignment 3:

Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property

Legal and Ethical considerations are a viable element in marketing, product safety and intellectual property, yet there continues to be the secret and unpredictable element that each organization cannot control, the employee. Ethical or unethical behavior is not entirely an issue of the character of the employee; it is determined by a lot of factors. Employees or people are influenced by the forces surrounding them


 their peers, their superiors, the reward system, group norms, and organizational policies and values. In this assignment, we will revisit the organization PharmaCARE and how legal and ethical considerations affected their decision making in marketing, product safety, and the intellectual property of Colberia.

Ethical issues

There are many

ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety. We will look closely at a few and how these have a common component that must be included for an organization to have a strong ethical and legal relationship.

 Marketing and Advertising

Every aspect of the marketing and advertising mix is subject to laws and restrictions. Every marketing manager will be confronted with how they must address ethics and law. Each marketing executive knows that rarely are there cut and dry answers to ethical issues that will arise during the normal course of business. (Lamb, McDaniel, & Hair, 2010). One ethical issue that will occur in marketing is how to be socially consensus. When a product is being marketed and advertised to a particular group, there must be ethical consideration of how this will affect the people you are targeting. Will this be considered stereotyping? Is this offensive to a particular

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