IMPERFECT COMPETITION Essay Example | Topics and Well Written Essays - 500 words

IMPERFECT COMPETITION - Essay Example Generally, an imperfect competition market can be described as a market setting where the products sold are highly differentiated. In essence, in order to survive in an imperfect market, a firm has to develop unique survival techniques to avoid suffering losses and losing customers loyalty. Apparently, the fast food industry has become quite competitive in the modern times (Schlosser, 2012). In response to the increased competition, firms operating in fast foods industry have come up with distinguished survival strategies to enhance continuity in business. Some of the survival techniques that have been adopted by firms in the fast food industry include product differentiation, brand building and diversity in product promotion. In this regard, it can be observed that the tropical Smoothie Cafà © operates in an imperfect competition market. The price of products offered in an imperfect competition has insignificant influence on demand. Basically, customers in an imperfective competition market are more sensitive on product brand than price. Tropical Smoothie Cafà © has established unique marketing strategies that are rarely known by its competitors. Some of the major competitors of the firm include McDonalds, Starbucks and Burger King. Since the firm operates in an imperfect competition market, the most appropriate means of achieving market power is through establishment of a strong brand name (Manning, 2013). In essence, a strong brand name aids in winning customers loyalty and maintaining them for long. Actually, the firm should emphasis on brand imaging through advertisements and product promotion. In addition, the company should consider offering discounts to its customers to promote sales as well as customer loyalty. The government efforts to regulate business operation can either result in positive or negative outcome to a business concern. The issues of patent

Impressions of Visiting Vatican Museum Essay Example | Topics and Well Written Essays - 750 words

Impressions of Visiting Vatican Museum - Essay Example Before going into the particular sensations that my senses felt, it is necessary to begin to describe the experience with relation to the mood that I had upon arriving at the Vatican museum. The mood itself was a mixture of feelings that helped to add to the overall experience and the level to which I can recall it. Firstly, I was exhausted from my travels. Secondly, I was fatigued from standing in line under the hot Italian sun for over an hour. Thirdly, I was thrilled to realize the fact that finally, I was going to be able to realize my dream. And lastly, upon entering the museum itself, I was in pure amazement. What greeted my senses was something that is difficult to retell while keeping the experience as powerful as it was to me. Upon entering the museum, I remember the distinct smells that I encountered. It was an interesting medley that recalled the smell of an air conditioner that had just been turned on for the first time of the season mixed with the powdery smell that ston e buildings often have. What was noticeably remarkable was the fact that the museum did not smell like a museum. Instead, it smelled more sterile. This had the combined effect of somewhat distancing the exhibits from the reach of the visitor. Had the location smelled more like a museum, it is likely that I would have in some way met at least a few of my prior expectations regarding the exhibits housed within. One factor that detracted from the overall experience was the sheer number of people that were in the Vatican museum at the same time that I took my tour. Although I expected that such a tourist attraction would be crowded, I had no way of preparing myself for the number of people that I encountered. Unfortunately, at times, the crush of the crowd did take away from the overall experience as I felt that at certain times I was being herded through the museum without having the necessary time to take in the setting and/or the artwork that greeted me.