Chapter 11: The Price Strategy

Chapter 11

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Factors Affecting Price

The factor that I think affects price the most is the Law of Supply and Demand. When the demand for something is high the price goes up. An example is the iPhone. The demand for the iPhone is high so the company that makes the iPhone can command a high price because the demand is high enough and consumers will pay the price. If the demand is low then a company must lower the price. An example, is for the older versions of the iPhone. Apple had to lower the price for the older phone in order for people to buy the phone. The factor that I think affects the price the least is technological trends. If a business has a store and a website it really can't change its price so much. The price on the website must be almost identical to the store price. If it isn't then the customer will go to the store and buy it.

Garrett Morgan Poster

Chapter 9 Site Selection and Business Layout

Chapter 9 site selection and layout planning

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Trademark History

The trademark I'm doing is GMAIL. The trademark for GMAIL was filed April 7, 2007. The logo is Gmail with the M in the shape of a piece of mail. The name behind gmail is google mail. The company google made its email database to gmail to make sure its user knew it was an email database and it belong to google. The unique thing about this trademark is the logo. The gmail logo looks like the the Google logo except the "M" is in the shape of a piece of mail which makes its different from the rest.

The Big Idea Series #1

As we watched the Big Idea series today, all the entrepreneurs had something in common. What they had in common was that they all had a will to make their product or service successful. They were all hard workers and determined to make it. The disadvantages of being a young entrepreneur is that adults don't take you serious enough when your trying to conduct business. A young entrepreneur won't get the same opportunity as an older entrepreneur. The Ryan Blair series was the most interesting because it showed a young man who was determined not to become the product of his environment. The business that I think has the most longevity is Ryan Blairs business because it is in the technology sector and it looks like he plans to make them all as succesful as his billion-dollar company.

Sole Proprietorship vs. Partnership

A sole proprietorship has more advantages than a partnership. A sole proprietorship has more advantages because its run by only one person. When one person runs a business, that person has a great amount advantages due to he/she authority. They make their own decisions on how to run a business, they take in all profits, and its easy to create. In a partnership these advantages are gone as everything has to be shared between the partners.
I think sole proprietorships are so popular because they are easy to create. With a sole proprietorship theres no "middle man," you are doing everything on your own which makes them easy to create and therefore popular. With a partnership both partners have to be on the same page about everything for it to be started.