Answer to Question #127512 in Microeconomics for fariza

Question

Question 3
While charging a normal admission fee for adults most days of the week, local cinema offers special low price for ladies’ admission every Wednesday. Why do you suppose the cinema often price this way, offering lower fee on one day during the week? Why would they choose a day like Wednesday rather than Saturday?
(4 Marks)
Question 4
Choose any one brand and identify its market structure. Explain the characteristics of this brand to conform with the structure.

Answer 1

Q3. A day is chosen among the working week in order to advertise their services, drawing the attention of a certain group of consumers. Psychologically, this is a very important point, since when planning a weekend, potential consumers can choose to visit the cinema, the advertisement of which they saw during the week.

Q4. Mercedes brand wheel

Attributes

Germanic, elite, expensive, top quality, history, masculine.

Benefits

Reliability, confidence, prestige.

Values

Security, superiority, master.

Personality

Mature, solid, conservative, authoritarian, Nordic.

Brand essence

Design excellence