Lecture

Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally, consumption is defined in part by comparison…

Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a…

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Because there are few…

A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service ; a monopoly may also have monopsony…

A competitive market has many buyers and sellers trading identical products so that each buyer and seller is a price taker. In a perfectly competitive…

Price elasticity of demand is a measure of how much the quantity demanded of a good responds to a change in the price of that…

Costs of Production are  Firms  willing to produce and sell a greater quantity of a good when the price of the good is high. This…

Integrated marketing communication is the integration by the company of its communication channels to deliver a clear, consistent, and compelling message about the organization and…

Retailing includes all the activities in selling products or services directly to final consumers for their personal, non-business use. Retailers are businesses whole sales come primarily…

New product development is a refers to original products, product improvements, product modifications, and new brands developed from the firm’s own research and development.

Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. E.g. Soap,…

Consumer buyer behavior refers to the buying behavior of final consumers individuals and households who buy goods and services for personal consumption.