Difference between mass marketing and niche marketing

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Reference no: EM132947575

Question

1. An entrepreneur is engaged in tree growing. He purchases a seedling for 4 dollars, incurs a cultivation cost flow at a rate of G(t) = 0.4t dollars per year during the life of a tree, and sells the tree at t = T for R(T) = 4 + 8T - T 2 dollars. The market rate of interest is 0.20. Determine an optimal length for his cultivation period, T. Apply the appropriate second-order condition to verify that your solution is a maximum.

2. Assume that there are two consumers and two commodities. Let the utility functions be U1 = q11q12 and U2 = q21q22 with q11 + q21 =q1 and q12 + q22 = q2. Show that Scitovsky contours are given by q1q2 = (√ + √ ) 2 .

3. Consider the following statements and select the 'normative' ones regarding policy making by a democratic government: 1. India spent Rs. 50,000 crore on welfare schemes. 2. India should do more to promote irrigation. 3. India's reservation policy needs expansion. 4. Express Highways are serving economic purpose.

4. Select the international organisation/Report which recently concluded - "Development policies become more effective when combined with insights into human behavior" - from the given list : (a) World Development Report 2015 (b) World Happiness Report 2013 (c) World Economic Forum, 2015 (d) Human Development Report, 2015

5. In the context of balance of payments, 'portfolio investment' relates to (a) Takeover of foreign companies (b) Purchase of shares in foreign companies (c) Purchase of real estate in foreign companies (d) Private remittances to foreign countries.

6. Evaluate the usefulness of the product life cycle to a company when deciding on the future product mix of its business.

7. Explain the difference between mass marketing and niche marketing.

8. To what extent might sales forecasts be useful for a business such as Bata.

9. Forecasts may be mis- leading, if there is a recession. Forecasts are not definite and can be wrong. What is the value of market research to a business?

10. With the aid of appropriate examples show how important packaging is to the success of a product?

Reference no: EM132947575

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