What Consumers Want I 1. How does the speaker define commodities in an agrarian society? How did this definition

change during the Industrial Revolution?

2. What does the speaker say has happened to the producing of goods over the last 50 or 60

years? What does this mean?

3. What does the speaker say is the antidote to commoditization? What does he mean by this?

4. What does the speaker say has happened to services over the past 10 or 20 years? How

does he suggest marketers respond?

5. What advice does the speaker give to consumers?

6. Do you agree with the speaker that there is no such thing as a truly authentic experience?

Explain

no

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

All of the industries and businesses in the country of marksenia are privately owned and sell products at different prices that are not controlled by the government or any other organizational body. consumers in marksenia are free to buy as much of the products as they like from the businesses they want. the country of marksenia has a

When an interest-bearing note comes due and is uncollectible, the journal entry includes debitingaccounts receivable and crediting notes receivable and interest revenue.accounts receivable and crediting interest revenue.notes receivable and crediting accounts receivable and interest revenue.notes receivable and crediting accounts receivable.