September 27, 2007
Studying Part 1...Marketing .. how marketing is incorporated into economics theory.?.
Firstly, from a perfectly competitive firm in a perfectly competitive market
a few key assumptions -
Every small firm is facing elastic demand of the goods. these homogeneous firms have to accept the market price for the products they sell. they are not able to shape the marketing environment.
- They sell homogeneous product They produce at the point where MC = MR = P
4 assumptions of the theory of perfect competition.
1. Price - both buyer and seller cannot affect the price.
2. products are sold undifferentiated
3. Consumers have perfect information about their preference income, prices, product quality.
4. Perfect mobility of resources; i.e to say that companies can enter and exit the market freely
From these points, 3 theorms can be drawn out.
1. Price is not a strategic marketing tool for the individual firm as buyers and sellers cannot affect the price.
2. When a company sells undifferentiated products, price and product development are not important marketing
3. With perfect information, a company will not gain from informative promotion because consumers have perfect information.
According to this model, marketing shouldn't exist under perfect competition model
firstly, price there are companies that can affect the price e.g LV branded stuff.
secondly marketers differentiate the products by brand. and lastly, with the information overload situation, marketers will have to use promotional strategies ti draw customers attention and provide them with the relevant information for purchasing the product.
Therefore the theory of perfect competition can only explain marketing briefly.
However, marketers can study marketing under the models of imperfect competition.
This situation occurs for e.g in a oligopolistic or monopolistic competition, Companies are able to differentiate themselves and therefore are able to ask for higher price for their product as they are not as restrictive as neo-classical theory of perfect competition.
BO LIAO part 2
i did this picture taking while i was mugging rather bored... some upgrading construction taking place...
Posted by Delwin at 9/27/2007 11:20:00 PM
September 22, 2007
Its the 21st September.. something just trigger my mind to write this entry.. somehow...I had a gym lesson today. and interesting found out that my legs are terribly weak.. i workout some triceps and quadriceps.. i need to work out my albs too.. which are amazing weak.. so for this 7 days is gym gym gym. ! ha ha..
anyway i learning this song.. great song by eagles. i first heard over a wedding maybe 4-5 months ago... it is still vividly in my mind.. i just learned how to play the intro.. this song rox. This wonderful song =)
Labels: life
Posted by Delwin at 9/22/2007 11:12:00 AM
September 19, 2007
HERE IS MEMBERSHIP YIPPY YEA
Posted by Delwin at 9/19/2007 06:47:00 PM
September 17, 2007
I shall blog about a person - my dear scandal..Firstly, i came to know her by accident... by through a person blog.. i met her. Sounds coincidental? Never say Never... at the moment we were all having our studies in fact examinations.. IBM. terrible subject to study.. To my surprise, we have a common friend., i meant only A common friend.. shall not elaborate about that.. We were chatting about her job and mine... her wanted job, ben and jerry... and about me.. my NUH job... telling her that 'wonderful' experience my colleague had.. i was full of envy when she went to London.. but then i didn't really console her about that matter. so sorry..
After that event, i was devastated by a single event. i didnt tell anyone about it, however i told my scandal about it.. She told me to move on.. however at that time, i was totally devastated. the advice didn't really went inside me.. these 3 months after that event, i am still sad about it. however there is her- my scandal always encouraging me through the bad patch... 3 weeks ago, she scolded me yet again.. However this time the advice went in.. - the grass is greener on the other side yet.. now slowly, i am getting better as the days went by.. Remember i told u about 3 stages... The laptop display picture, the picture inside my wallet and the ring.... i didn't know if u realize something when u saw my wallet, the picture is no longer there. =P
What i really want to say is, i really really appreciate for what you have done for me, i haven felt this type of feelings before. So i will cherish and treasure you as a friend, a scandal, and..
I really thank god for this wonderful friend/scandal... thanks very much.. =)
p.s to protect the identity of the scandal.. it shall remains as a scandal.
Posted by Delwin at 9/17/2007 10:46:00 PM
September 13, 2007
Today - yet another fun day..had lunch at ah yat restaurant.. We had DIM SUM.. so nice..
the price was good too.. =P...
Got a suprise birthday present from scandal..
love you to the core !
Labels: life
Posted by Delwin at 9/13/2007 07:48:00 PM
September 12, 2007
A true friend... a scandal...No words can describe the feeling when i am with you.
Every word i use is to thank u
Any word that i used, is used to express a million thanks.
Thanks a lot..
scandalous
Posted by Delwin at 9/12/2007 11:59:00 PM
September 9, 2007
a traditional T0-day....Morning i got up...
decided to go DIM SUM with parents... had DIM SUM at one of the most famous restaurant in Singapore. It is called Red Star... the DIM SUMwas delicious.... while enjoying the food, the restaurant had a black out for at least 10 mins.. it was like a oven inside.. after that, we went home.. cause sister has exams to prepare for... while i was surfing web and listening to some youtube songs.
my mum came with this...
traditional 4d lucky picks..
P.S i dun not know the numbers.. dun ask me.. hahah .. after picking the numbers, mum asked whether i got my wedding attire for some relative wedding ready ? i said "oh yah i bought a cotton jacket from hk.. with courtesy of.. " i paused for a while... i continued "With courtesy of you.." My mum said in Cantonese "OH since when i agreed to buy stuff for you.. My mum just turned the whole situation around and said " And that will be your birthday present.." i replied in Cantonese "OH NONONO, i wan a more expensive present. and my mum gave a =_- face..
oh ya.. as i just came back from hk, i am so in the mood for DIM SUM.. haha pls give me a msg if u come across any good DIM SUM restaurant
Posted by Delwin at 9/09/2007 11:24:00 PM
September 8, 2007
A good laugh - A snip from Bryan Wong online DiaryEscapade.
Guess what,i am out of singapore! Finally got the short break that i wanted to recharge this lame brain of mine.However, the beginning of the jail break ain’t that smooth sailing. Got on the plane last night 210807 at 2030hrs and due for take off at 2045 but flight was delayed for an hour due to the technical problem of water being not available at the taps in the toilets..So, in halting english, the leading steward announced ” Lady and gentlemeeeeen,we cho chorry..there a pobblam in the toilet..there no water..The techicol team now solving the pobblam about the water.Cho chorry for the delay…” Hmm.. that’s something new..flight delays caused by passengers who are late i’ve heard..delays caused by heavy traffic for departures i have heard..but,toilet without water? Thats New!!!!!!
And so i sat there and waited , along with the other passengers who are starting to complain amongst themselves.Some even took out their handphone to commiserate with loved ones that are somewhere out there. Finally, an hour later, the steward came back on ” Halo Lady and gentlemeeeen..we are cho happy to tell you that we have solved the pobblam! the water cannot be fixed!” I almost fell out of my chair when i heard that. Fortunately, before i burst into great peals of laughter, he continued” We now waiting for a bottle of water.Please be informed that during the flight you can still use the toilet.You can still flush but there is no water at the tap. Don’t worry,after you use the toilet, our crew will be there for you with a bottle of water to wash your hands. We cho happy to solve this pobblam and now we wait for a bottle of water and then we can take off. Thank you krup”
Credits to Bryan WongLabels: funny
Posted by Delwin at 9/08/2007 10:54:00 PM
September 6, 2007
bon voyage scandal.enjoy your holiday.
take good care ay
miss ya... =P
cya when u are back...
Posted by Delwin at 9/06/2007 09:13:00 PM
September 3, 2007
HK PART 2upload my second set of photos .... macau and hongkong
Posted by Delwin at 9/03/2007 06:01:00 PM
September 2, 2007
Went to catch a midnight movie with scandal. before that, we met up to 'see comex'. This time rather boring, i saw a want ! a 32 inch samsung LCD TV. whahaha after the movie, i met my secondary school friends for her birthday party at v8 cafe. after that, i met my scandal at marina to watch this movie NO reservation.it was funny. a romantic and comedy film 4 /5 thumbs up =)
Labels: life
Posted by Delwin at 9/02/2007 02:45:00 AM
September 1, 2007
back from HKHK part 1
i got tons of pictures to upload and bought tons of stuffs,,, enjoyed the trip though... i will upload the photos asap haha .. HK my second home.. i am sure felicia and jun will agree with me