Absolute and Comparative Advantage Essay Example for Free

Absolute and Comparative Advantage Essay An individual, a firm, a region, or a county may develop an area of specialization naturally, but frequently choices must be made to determine what to produce for exchange or trade. Producers should concentrate on the activity in which the)- have an absolute advantage. An absolute advantage is the ability to product a good or service using fewer resources than other producers use. In the United States, this situation occurs when one region of a country is more suited than another for producing certain pro ¬ducts. Florida can grow oranges using fewer resources than Iowa, where heated green ¬houses would be necessary. Iowa has vast, flat acreage and can produce corn much more efficiently than could Florida. Thus, Florida specializes in oranges while Iowa concentrates on com. and the products are exchanged through the marketplace. When each of two parties has an absolute advantage over the other in producing a particular good or service, it is easy for both to decide their areas of specialization. But what happens when one party can produce both goods and services more effi ¬ciently than a second party? Should the party with the absolute advantage produce both products for itself? Although this party has the advantage in producing cither good, it should specialize in producing the good in which it has a comparative advantage. Comparative advantage is the ability to produce a good or service at a lower opportunity cost than other producers facc. 1’his means lerting the other party produce the good in which it has the lower opportunity cost. Total output will be greater, and exchange will allow both parties to have both goods. Suppose a woman can make $100 per hour as a marketing consultant. Part of her work includes preparing reports for her clients. Suppose that in addition to being a first-class consultant, she is more efficient at word processing than anyone she might hire to key the reports. Thus, she might be able to key in one hour what it takes an assistant two hours to do. As a result, she reasons that, instead of hiring an assistant to do the work, she should do it herself. Is she right to do her own keying as well as consulting? If she docs her own keying, she still must take an hour each day from her consulting to do so. The opportunity cost of keying is the S100 she could have earned consulting. The opportunity cost of consulting is the S20 she must pay an assistant to key the reports. Therefore, if she hires an assistant, she can devote her hill time or consulting. I led gross earnings will be $ 100 greater per day. After paying the assistant $20 for two hours work, she will still have additional net income of $80 per day. Thus, the marketing consultant is bcucr-off specializing full time in the service for which she has the greater comparative advantage.

Growing Up in I Stand Here Ironing Essay -- American Literature Tillie

Growing up The oppression of women by society has never been a secret. Many times it has been documented in works of literature, and one classical example of this occurrence is "I Stand Here Ironing" by Tillie Olsen. This story illustrates the consequences of oppression in women's lives. The story leads the reader on an exploratory journey to witness the neglect by Emily's extremely guilty mother. This is described by the children's cry when they are left with strangers, lacking attention and love due to the fact she is a single parent at a time where this was not commonly accepted in the community, causing a lot of emotional distress. The mother's pain and torment is apparent from the very beginning of the story. Her realization that she could have been a better mother, had it not been for the circumstances and life events which occurred following Emily's birth, such as the father who dealt with his parental responsibility by leaving - "Her father left me before she was a year old. I had to work her first six years when there was work, or I sent her home and to his relatives" (Olsen, 373). The mother does, however, continually "shift" back and forth, as the metaphor of "ironing" implies, to invoke pity from the reader and explain that there were other people, and factors which played a significant role in Emily's upbringing. Purposely organized in a non chronological way, it illustrates the shifting, which is the passing back and forth of Emily emotionally (allowing the nursery, school teacher, and hospital staff play the primary care giver) and physically (the baby-sitter, the father's family, etc) distress. Emily's mother seems to be constantly blaming her troubles and circumstances for the less than adequate ... ...one or more of the five senses of the reader. In this short story, the author uses literal language to call up a mental picture in the reader's mind. In the last line of Emily's story her mother says, "Only help Emily to know... that she is more than this dress on the ironing board, helpless before the iron" (Olsen, 373). The image, ironing a dress, compares to actually raising a child. The dress represents the child, the iron is the child's parents and society, and the ironing board is their expectations. The theme this image conveys is that children grow up to become individuals as a result of their interaction with their parents and society, their experiences, and their own insight, not simply being "ironed" in to society's preconceived model. Work Cited Olsen, Tillie. "I Stand Here Ironing." The Story and It’s Writer. Ed. Ann Charters. Boston: Bedford, 1999.

Pharmacia & Upjohn Case Study

Kayem Foods, Inc. Case Study Kayem Foods, Inc Buzz Marketing Al Fresco Chicken Sausage STRATEGIC ISSUES AND PROBLEMS Matt Monkiewicz is the director of marketing for Kayem Foods, Inc.. Mr. Monkiewicz was put under pressure to decide whether or not to us a buzz marketing plan for their Al Fresco chicken sausage brand, which would be implemented as part of their advertising campaign for 2006. The Al Fresco chicken sausage brand was able to capture a large portion of their target market, making them the number-one brand in its target market.The dilemma that Monkiewicz faces is whether or not the increase in sales were due to the buzz marketing campaign they implemented the previous year or if other advertising and promotional campaigns were the sole reason for the increase in sales. In order to make a decision, Monkiewicz must analyze all parts of the advertising and promotional campaigns that they have previously used and decide which of these campaigns actually contributed to the sale s increase and which campaigns didn’t. KAYEM FOODS, INC. Kayem Foods, Inc. as been around for almost a 100 years and is located in Chelsea, Massachusetts. The company has historically made its fortune from selling fresh delicatessen meats, hot dogs, and sausage. Annual sales, from the fiscal year ending February 28, 2004, were approximately $140 million. The majority of their sales came from meat products that were sold under several brand names, with the majority of the meat products being that of hot dogs. They have several brand names for which their products are sold and the most well-known brand is Kayem.There has been a continually rising market for sausage. Breakfast sausage has increased by 2 percent and dinner sausage has increased by 4 percent in 2003. This is why Kayem Foods, Inc. is desperately working to find a way to capture this rapidly growing market. Kayem Foods director of marketing, Matt Monkiewicz, feels that in order to adequately capture a significant po rtion of the market they must be willing to think outside the box and possibly implement non-traditional styles of advertising. Buzz marketing does exactly what Mr.Mankiewicz is looking for in his advertising campaign, which that they have used in the previous year and it has made them the number one-selling brand of chicken sausage, however, not all of the sales force at Kayem believes this increase in sales were due to Buzz marketing. Although Kayem has been able to substantially increase the sales of Al Fresco, they still have a lot of concerns pertaining to their profit margins. In the recent years supermarkets have been able to gain industry power, when it comes to dealing with manufacturers that supply them with products.The supermarkets now demand larger discounts and coupons for their customers. There is also a force keeping prices down due to the tense competition within the industry. In the past two years Kayem’s private label activity has been operating at break-ev en and co-packs have been operating below break-even. Obviously Kayem is in business to make money and not operate at break-even. They must use an aggressive advertising technique to get their profit margin back up. INSIGHTS TO BUZZ MARKETING You can sum up the definition of Buzz marketing in just 3 words,† word of mouth. Many companies have found this advertising approach to be very profitable and appealing to their bottom line. In today’s market, especially due to the rise of social networking, many companies depend on their current customers to help spread the word of their products. Buzz marketing helps companies build brand loyalty and awareness by building a personal relationship with their consumers. Many times consumers can be more easily persuaded towards purchasing a product when it is recommended from someone they know or trust and Buzz marketing does exactly that.Kayem Foods, Inc. previously used a company called Bzz Agent to implement their Buzz marketing c ampaign. Bzz Agent currently had 60,000 agents and these agents volunteered to try the products and then would use word of mouth techniques to get these products in the hands of their friends, acquaintances, and possibly strangers. Most of the Buzz agents actually enjoyed testing new products and then talking about them to their friends, they felt some type of satisfaction for being one of the â€Å"firsts† to discover the product.Bzz Agent also found that most of their agents advertised their products in all of the social networking settings, which also helps spread the word of the products. In recent years, marketing managers have found that product endorsements were more credible when it came from a friend or acquaintance. PLAN OF ACTION Mr. Monkiewicz must decide on which advertising campaign Al Fresco will use for next year. He must decide if they will usual traditional advertising like: television, radio, magazines, and billboards.Another option for his campaign could b e Buzz marketing, which if he decided to use he must develop a better way to track the increase in sales that come from Buzz marketing. He may also decide to implement more than one style of advertising and possibly combine the different approaches together, however, Monkiewicz has only been granted a marketing budget of $185,000 so he must be fully aware of his choices. Some of his choices may also not be feasible because of their high cost. Since Monkiewicz was only allowed $185,000 for advertising campaign, he will not be able to choose the more expensive advertising options like television.What he felt appropriate options for his advertising campaign were Buzz marketing, magazines, and price-off coupons. Based off of the chart above, Better Homes and Gardens magazine will also not be an option. He is left with Buzz marketing, trade marketing, food and wine magazine, cooking light magazine, and price-off coupons. RECOMMENDED AL FRESCO MARKETING STRATEGY The efficiency of buzz mar keting is undeniable, penetrating social networks and building personal relationships with consumers. With that being said, Matt Monkiewicz should choose to implement the Buzz marketing strategy for their advertising campaign.It is also a cheap option that has multiple benefits. In order to track the success of their Buzz marketing campaign he will just simply ask his Bzz agents to have the people they reach out to, for their product, fill out an online survey. This survey will ask questions like: will they continue to buy Al Fresco products, were they satisfied and if not, why? , and also if they were able to find their products at their local super market. Mr. Monkiewicz should combine his Buzz campaign with Trade marketing, with the combination of these two approaches he will surely get the word out there and it will help to build brand awareness.He can also use the remaining, [$185,000 – ($75,000+$80,000) = $30,000], $30,000 for price-off coupons, which will further help to expand their portion of the target market. TARGET MARKET Al Fresco should keep the same target market as before. Their target market should be women that range in age from 25 to 45 years old. This is the best suitable target market for their product, considering that this is the most health conscious market out there. What Al Fresco should do, however, is use their advertising efforts to capture a larger portion of this market. MARKETING MIXProduct Strategy – Al Fresco should keep their product of chicken sausage and their current flavors. Price Strategy – One thing that Al Fresco must do is not discount their products as much. We know that the sales force for Al Fresco thought the primary reason for becoming the number one selling product of chicken sausages was because of constant discounts they were giving away to the supermarkets. If Al Fresco can cut down on their discounts and they can continue to capture the majority of the market then they will be able to se e how effective their Buzz marketing campaign was.Distribution Strategy – The current distribution strategy implemented by Al Fresco has proven to be successful so they should continue to use the same strategy, â€Å"If it’s not broken, don’t fix it. † Advertising and Promotion Strategy – Al Fresco will use the combination of trade marketing, price-off coupons, and Buzz marketing for their advertising campaign. If they can effectively implement these low cost advertising approaches then they should be able to gain back some of their profit margin that they have been so concerned about in the past couple years.

Unwanted and Unplanned Teen Pregnancy and Sexually...

Unwanted and Unplanned Teen Pregnancy and Sexually Transmitted Illness (STI) Teen Pregnancy The birth rate among teens in the United States has declined 9% from 2009 to 2010, a historic low among all racial and ethnic groups, with the least being born in 2010; and in 2011 the number of babies born to adolescents aged 15-19 years of age was 329,797 (â€Å"Birth Rates for U.S.†, 2012). Although the decline in unwanted and unplanned teen births is on the rise the United States continues to be among the highest of industrialized countries facing this problem. This is a prevailing social concern because of the health risks to these young mothers as well as their babies. Teens at higher risk of becoming pregnant are raised at or below the poverty†¦show more content†¦145). Sexually Transmitted Illness Risky Sexual Behavior Risky sexual behavior not only results in teen pregnancy but also sexually transmitted illness (STI) (i.e., bacterial vaginosis, chlamydia, genital herpes, gonorrhea, syphilis, pelvic inflammatory disease ) presenting another social issue that has far reaching and grave adverse consequences for the teen, their families, their children and the overall public. Adolescent sexual health is a concern to educational specialists, organizations that are youth focused, local and national government agencies, members of the community, medical professionals, parents and caregivers. These groups and individuals collectively and separately work to create programs that will educate and provide support for this population, to prevent or decrease unplanned and unwanted teen pregnancy and STI’s while increasing safe sex practices and or promoting abstinence. Sexual activity among teens leads to high instances of STI’s, and adolescents ages 15-24 account for near ly half of the 20 million new cases of STIs each year; chlamydia and gonorrhea are the most commonly diagnosed among this age group (â€Å"Sexually Transmitted Diseases†, n.d.). STI’s are not obviously detectable making regular screenings critical and will result in the prevention of infertility and death. The highShow MoreRelatedProblems that Teenage Mothers Face Essay1602 Words   |  7 Pagesproblem of teen pregnancy. The Center of Disease Control and prevention affirmed on June 26 what other agencies, such as the National Center for Health Statistics, have been saying over the course of this year: â€Å"The teen pregnancy rate is dropping. The number of teenage girls across the country who became pregnant fell 12 percent between 1991 and 1996. This drops affects girls, of different races and socioeconomic backgrounds, in all states. 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