Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Catalogue shopping and social class Mail order catalogue agencies became popular in the 1950s and 1960s with the rise in disposable income after the war. In the UK, catalogues were aimed at C2 and Ds, the largest socio-economic group of the time, using agents - usually women - who sold goods to a circle of family, friends, neighbors and acquaintances. Such circles were often referred to as ‘clubs' and were an integral part of some close-knit communities. Agents received commission on the amount of goods they sold whilst customers appreciated the weekly payment option at a time when credit was difficult to obtain. By the late twentieth century the industry had been reduced to five main retailers: Littlewoods, Great Universal Stores (GUS), Grattan, Freemans and Empire (later to become Redcats). In 1985 GUS launched Innovations - often given away as a free supplement in Sunday newspapers. The Innovations mini-catalogue aimed to bring the latest in technology to its customers and became required reading for those seeking quirky and unusual gifts. However, agency catalogue shopping is in decline. Agents now buy mainly for their own families whilst the traditional customer base finds it easy to obtain credit elsewhere. High street retailers have always been around 15 to 20% cheaper than agency catalogues and now firms such as Tesco and next offer their own direct-order catalogue service. Added to this is the growing popularity of Internet shopping and the rise of TV shopping channels such as QVC. The catalogue business is finding it difficult to compete. Freemans was bought in 1999 by German firm Otto Versant, owners of Grattan. In 2000 GUS bought online retailer jungle.com but was forced to close the loss-making Innovations in 2003. Meanwhile the Littlewoods group is seeking permission from the Competition Commission to buy GUS and Keys catalogue. Analysts believe that if the catalogue companies are to survive they must be more flexible and more effective at individual marketing.
Question
1 What type of market structure describes the agency catalogue industry?
2 What has happened to the traditional target market of the catalogues?
3 Why have the catalogue companies found it so difficult to survive?
4 What steps did the companies take to fight back?
Can overall money demand be legitimately separated into three additive components according to Keynes's motives for holding money? If not, what is the justification for doing so?
U(C,1day-L)=4C2/3(1day-L)1/3, where C is the amount of consumption and L is the number of hours worked. If the price for consumption is $9, the wage rate per hour is $6, initially the consumer had $162 and 24 hours as time endowment;
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses
What is the average of these five amounts?
. The challenger costs $6,000 and has O&M costs of $2,000 per year, increasing by $1,000 per year. The machine will be needed for only three years, and the salvage value at the end
One question that arose during the meeting was about how the firm's profitability in their toothpaste division would be impacted by the expansion. The Board asked you to assess the profit potential using marginal analysis.
(Distribution of Household Income) Look back at Exhibit 1 in this chapter. How would you explain the shift of the U.S. income distribution in the last two decades?
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are very basic. Supply and demand conditions in this..
Household spending is given by the following equation: C = $100 + 0.70Yd and Intended Investment = $125. (a) Calculate the equilibrium level of income in the economy, and explain why this is the case.
In the last month, the price of gasoline increased by 20%. Your job is to determine what caused the increase in price: a change in demand or change in supply. Ms. Info has all the numbers associated with the gasoline market and she can answer a si..
Illustrate how fiscal policy can close the expansionary gap.
The United States, at the point where it is currently producing, must give up the production of 300 motorcycles to produce 15 additional SUVs with the same resources. Which of the following is the opportunity cost of producing 100 motorcycles
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd