Managerial Economics: Introducing New and Innovative Vehicle
Can you help me get started with this assignment?
I need to write a 1,500 - 2,000 word research paper discussing a current topic in the field of Managerial Economics (the economics of the firm).
Justify why you believe the topic is appropriate for Managerial Economics, and provide a rough outline of how you plan to proceed.
Follow the APA format. Both in-text citations and a general reference list at the end of the paper MUST be used. See Course Guide Appendix
Topic: The Managerial Economics of Introducing New and Innovative Vehicles in Today's Auto Market
Then I need to write the paper exclusively from the perspective of the auto industry and write about how the auto companies go about making their decisions based upon the economics involved.
Again, do not comment on the impact on the economy or on consumers, and do not present the government's point of view on anything. Think of yourself as a CEO/Manager and you are presenting a paper to fellow CEOs/Managers at a symposium.
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https://brainmass.com/business/pest-analysis/managerial-economics-introducing-new-innovative-vehicle-226445
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The response addresses the queries posted in 1556 Words, APA References
Managerial Economics & Decision Making Process
Introduction
Managerial Economics is a branch of economics, in which various economic theories, concepts, tools and logics are studied to use in the business decision making. These theories are applied for the analysis of the business problems, business options or opportunities to reach at an appropriate business decision. Managerial economics integrates various economic theories with the business practices. The decision making process is an important task for a business because an appropriate decision selects the best alternative from the various alternative opportunities. All the problems related to the production, as well as the sales problems are also analyzed in the managerial economics, which helps in the decision making process (Baumol & Blinder, 2005).
Concepts of Managerial Economics
The different theories of Managerial economics like theory of demand, production and market structure analysis, pricing theory and profit management and capital & investment decision are the important concepts that are used in the business decision process. The concept of profit management, theory of demand and theory of production is used in the many industries widely, to make an effective business decision. The new product innovation for an organization is also based on the managerial economics.
Auto Industry
The current trend in auto industry shows that the demand of the automobiles is increasing continuously. The production in the global auto market is increasing with a rate of 5%. In some regions, the growth rate is stronger than the growth rate in the global auto market (Automotive, 2009). The automobile business is growing because of the increasing merger activities between car and parts manufacturers. The people are frequently changing their brands because bigger car manufacturers are providing financial facilities to them. The large brands are expanding their business activities globally.
Managerial Economics in Auto Market
E-commerce provides better information to the consumers about the various models of cars. They analyze the cost and quality of the car by comparing it with others and it causes an increase in the demand of the consumers, for the new technology and quality in the products of the company. The increase in the demand is causing for the new and innovative vehicles in the current auto market. The auto industry is a large segment in the US economy. The growth in the industry is because of the change in the preference of the consumers. ...
Solution Summary
The response addresses the queries posted in 1556 Words, APA References