Price Discrimination In India And The Us Economics Essay

Price Discrimination In India And The Us Economics Essay Publishers have traditionally sold textbooks at different prices in different areas of the world. For example, a textbook that sells for $70 in the United States might sell for $5 in India. Although the Indian version might be printed in cheaper paper and lack color illustrations, it provides essentially the same information. Indian customers typically cannot afford to pay the U.S. price. Use the theories of price discrimination presented in this chapter to explain this strategy. The definition of price discrimination is the practice of charging different prices to various groups of customers that are not based on differences in the costs of production. In another word, a type product has been produced under same condition, same content, share the same cost, but it sells in different prices to different customers at different places, which in the context is the textbooks. Price discrimination normally happened in segmenting market that varying price elasticity or price sensitivity of demand. As in the context example, U.S. customers are segmented as inelastic market whereas India customers are elastic market. It explained that U.S. customers will purchase the textbooks even it charged in a higher price, however India customers might refuse or unaffordable to purchase the higher price textbooks. The purpose of price discrimination is to maximize the profit that has to do with consumer surplus. Consumer surplus is the difference between the total amount of money consumers are willing to pay for a product rather than do without and the amount they actually have to pay when a single price is charged for all units of the products. Refers to the Figure 1 below, the customer surplus is the area of P1AB. Q P Q1 0 P1 Demand A B Figure 1 As for the willingness to pay, the customers might not want to purchase the extra units of product where they think are not worth for it. Example, in India, there is plenty type of textbooks published by different publishers, why should the customers grab one of yours? Even your textbooks fit the customers wants, but the selling price might be too high for the customers that they think it does not worth that much for them to pay for. It is also the example of price elasticity in India market. Basically, there are three theoretical models of price discrimination first degree, second degree, and third degree price discrimination. For the context of textbooks selling in India and U.S. markets, it falls into the category of third degree price discrimination. Third degree price discrimination is the most common form of price discrimination, where firms separate or segment the markets according to the price elasticity of demand and charge a different price for each market. Of course, the firms is charging a higher prices in the most inelastic demand market, which is U.S. and sells in a lower price in India that the market is more elastic or price sensitive in demand. Since the U.S. market and India market has difference in elasticity and willingness to pay for the textbooks, the publisher segments the markets by charging U.S. market a higher price. Meanwhile, publisher charged a lower price in India market to increase or maximize its revenue. 0 Q1 Q2 U.S. market Quantity India market Quantity $ MC MR2 MR1 D2 D1 70 5 Figure 2On the other hand, if the publisher charged a higher price in India market as in U.S. market price, the India customers may unaffordable to purchase the textbooks or they are not willing to pay that much just for a textbook, where the textbook is not worth for what they are paying. Therefore, it would be a failure in India market if the publisher sells the textbooks in a high price as in U.S. market, which is shown in the Figure 2 based on the context example. In the Figure 2, the right side is the demand of U.S. market and on the left is the India market demand. In order to further explain why it would be a failure to charge higher price in India market, it is drawn to shows that if the publisher charge $70 abroad all the market as in U.S., there is no demand in the India market. In order to maximize the profit, the publisher has to lower the price as like marginal revenue equal to marginal cost (MC=MR2) for the India market. However, for the U.S. market that has the demand and the willingness to pay even in a higher selling price, it is an unwise decision to lower the textbooks selling price in U.S. market as what it charged in India market for the purpose of price standardization abroad. That is for sure the quantity in U.S. market will increase but it does not served the rules of profit maximization, where price at MC=MR1 should be charged in U.S. market that is $70. If the publisher decides to sell this textbook online, what problems will this present for the pricing strategy? How might the publisher respond? For the price discrimination segmented market, one problem need to be identified and managed by the firms, where the firms has to ensure or able to prevent the resale activity among the different groups of customers. Otherwise, the customers who are charged a lower price could be able to resell the product on hand to the customers who are in the higher price market segment. Hence, if the publisher is going to sell the textbook online, it will probably have to set a single price, where it is typically the high U.S. price. It is a safe precaution step for the publisher to set in a high price that to assume the customers who order online are affordable and willing to pay even in high price. However, it would means that it will lose the India market who may not afford to pay for a high price textbooks. On the other side, publisher might think of customization or product differentiation. For example, the publisher may amend the textbooks content such as the example in textbooks to use India currency, rupees instead of U.S. dollar. This India version can be sold together with the original U.S. version online with different pricing. One of the reasons is the India customers will feel more relevant to them that the example is in their currency and it can get in a cheaper price. However, the U.S. customers who has been charged for higher price would not tends to purchase the India version for a lower price as it is less relevant to their market and environment. Another method would be using the technology. With the use of technology, the publisher may set the different price for different market, where price discrimination could be worked online. First, publisher may need the online purchaser to register an account for purchasing, where the purchaser need to fill in their particular that includes the country or location where the purchaser are stayed in. With the information gathered, the publisher can links the different groups of purchasers who come from different country or markets into different online order page and purchase with different currency. Meanwhile, the publisher can also limit the delivery of textbooks to the origin country that the purchaser registered. For example, if the purchaser is from India, the delivery will only be made to India.

How Film Technology Impacted Cinema’s Evolution Essay

Over the nineteenth and twentieth centuries, cinema technology advanced greatly—and with an ever-growing history of movies from which to draw reference, film-makers have increasingly approached productions from fresher perspectives, while always employing the most modern equipment, in order to better serve the audiences of their days. In Visions Of Light, a series of interviews with directors and cinematographers explores how the evolution of microphones, lighting, film, staging, cameras and mounts has affected the translation of story into cinema in a variety of ways. When sound was first introduced, for instance, actors were forced to lean in closer to microphones that were hidden on the sets, in order to be better heard—thus affecting their physical impression on camera (Bailey, VL). Also, the advent of sound affected the mobility of cameras—and it was years before directors began taking moving shots again. Only after technology improved, and the practice of adding audio in post-production took hold, did cameras become fluid once more (Bailey, VL). In Visions Of Light, Zsigmond even goes so far as to claim the advent of sound might have affected film’s ability to rise to a higher form of art. Furthermore, in the early years, the onset of color film collided with the aesthetic prerogatives of directors from the black-and-white era of cinema. The dark-and-light stark contrasts of early film had always supplied directors with a strong foundation in a medium built on more abstract emotions—being more removed from reality, due to their lack of color (Daviau, VL). The introduction of red, yellow and blues, however, gradually eroded that surreal nature of young cinema—and left film-maker’s with a new spectrum of visuals to explore that were more rooted in reality—yet took away the artsier fare of the colorless picture (Daviau, VL). Finally, as the studios began to give way to more location shoots, and more independently ground-breaking and inventive movie-making, more experimental cinematography began taking place, including the increased use of techniques adopted from unintended effects of technology—and instructional mistakes on set. Inventiveness and new cameras and lenses wedded to create unprecedented waves of evolution in cinema. The more relaxed embracing of happy accidents, such as random camera â€Å"flares† for instance–and other unique lighting effects (Hall, VL), eventually led to the deeper medium today, where visual artisans have a century’s worth of rich and varied cinema to emulate, be inspired by—and pay homage to—in order to further expand upon the apparent human motion to improve the film experience. Visions Of Light is an inspiring look into the history of film—and a revelatory expose of the methods by which we attempt to translate our greatest tales into the constructs of cinema—and how technology and history have shaped the medium. By the time a movie is played on screen, one is witness to countless lifetimes of work, both in the perceived piece—as well as the endless sub-texts of cinema that came before it. The improvements of technology over time have both strengthened and handicapped cinema, enabling it to more accurately capture reality, while also rarifying the more abstract forms of black-and-white film and silent pictures. Future directors, of course, may yet return to the black-and-white medium, in order to test the depths of their art—but they may also find it more challenging than filming in color (Daviau, VL). Similarly, while sound changed movies from a purely visual form into a mixed discipline—directors who were to attempt to make a silent film today might find it more difficult to execute. Technology has allowed film to record reality better—while also blunting or limiting its inherent ability to translate more basic human emotions, through less colour or sound. Furthermore, as cameras have become more sophisticated and economical—the increased use of an independent, hand-held approach will change the look-and-feel of film for the coming generations, lending to it a more reality-based frame—and for that very same reason, a more difficult platform from which to craft the abstract. Overall, as technology advances, film evolves into a much different form from the shape it started out. It is now a fuller and more complex medium—although perhaps less of a straightforward one. With each mounting generation, directors have to grapple with the new and profound questions about how to approach the entertainment and education of an audience. They have to learn how to emulate the traditional paths of film’s past auteurs—but also, and equally importantly, to test the limits of the undiscovered country and new technology in cinema. Film-making as an art-form is ever-evolving and re-engaging its audiences in newer and more gripping ways. The language of the motion picture, however, is fundamentally limited by the science which allows it—and so, in order to direct most effectively, every last available trick of modern film-making must be employed, toward the end of showing people something they haven’t seen before, and creating a synthesis that succeeds in overwhelming the sum of its parts. Newer technologies and angles must be embraced, in order to achieve a more honest form of surprise and catharsis, so that audiences are finally moved and enlightened. For as technology evolves, so too does our tool set in the medium—providing an endless art-form to perfect and exercise up to the heights of cinema, as modeled by Citizen Kane. No patterns from past directors can ever be totally relied on, of course, in order to achieve the freshest cutting edge of new cinema—but those who are willing to learn the trade as well as take risks and experiment in the non-traditional forms are the ones who will always create original and inspiring works. Thinkers and shapers who are keen to test tomorrow’s technologies and exploit their own mistakes are the ones who will consistently set the bar higher—and allow the younger audiences to be livened up by the unexpected. Film’s suspension of disbelief, after all, dwells in the camera’s ability to capture the world around us—but also, in the editing room, where unnecessary redundancies of past pictures are trimmed back–and re-hashed tricks of the trade are left on the cutting floor. Only the bare bone advances of new cameras and exciting visual storytelling will seduce the eye and mind long enough to engage future audiences. Only the visionaries of light and sound will remind people of their daily existences deeply enough to be enthralled by the verisimilitude of it all—while simultaneously transporting them far enough away from themselves, that they will ultimately leave the theaters changed forever. Works Cited Vision Of Light. Samuels, S. ; Glassman, A. ; McCarthy, T. ; Glassman, A.. Daviau, A. ; Almendros, N. ; Bailey, J. ; Hall, C. ; Kovacs, L. ; Nykvist, S. ; Storaro, V. ; Wexler, H. ; Willis, G. ; Zsigmond, V. ; DVD. CBS FOX, 1993.

The Good, the Bad and Topic for Presentation

The Good, the Bad and Topic for Presentation Topic for Presentation - What Is It? Meetings should be held a couple of times a month. The very first step in preparing a presentation is to find out more about the audience to whom you will be speaking. Presentations and speeches could possibly be inevitable during anybody's work or university life. Comprehension is the phase of interpretation. Learning how to begin a presentation is at least as crucial as knowing how to complete it. French language and culture isn't limited to France. Here's What I Know About Topic for Presentation Business is still another important sector where PowerPoint presentations are frequently used. If you're still uncertain about your presentation, keep reading to obtain a variety of engaging presentation topics. You should remember to make your PowerPoint presentation effective and memorable. 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