Hamburger and Wendy Essay Example for Free

Hamburger and Wendy Essay Executive Summary Wendys offers a variety of fast food. The food selection ranges from hamburgers, French fries, salads, chicken, potatoes, and chili. Wendys income is based on the sale of fast food. The demand of Wendys service is highly elastic. A change in price will affect demand for products. Wendys market structure is an oligopoly and has two main competitors; McDonalds and Burger King. In an oligopoly, the market is dominated by a few large producers of a homogeneous or differentiated product. Because of their fewness, oligopolies have considerable control over their prices, but each must consider the possible reaction of rivals to its own pricing, output, and advertising decisions (McConnell Brue, 2005). Since there are many substitutes, Wendys has to be willing to keep their prices and quality of food relative to competitors. McDonalds and Burger King offer substitutes to Wendys food. Advertising and promotional offers can help Wendys stay competitive. Wendys also has to be observant of economic trends. Raises in inflation and food costs will affect the demand for fast food. However, inflation and food costs should also affect McDonalds and Burger King. Therefore, Wendys market share should not be affected if they raise prices collectively with McDonalds and Burger King. In the future, there is a chance for a healthy fast food restaurant to enter the market. Society is leaning towards a more health conscience population and the fast food industry will have to adjust. Wendys and its competitors currently offer salads. Wendys should consider offering healthier menu items and increase advertising to gain market share. Investing in advanced technology will also keep Wendys competitive. More technology will result in higher productivity and lower average total cost. Description of Utility of the Good or Service Wendys is a fast food restaurant that provides an alternative to home cooked meals. The convenience of their products is not a necessity but can be considered as a luxury. In the past, women were not in the work force and stayed home to tend to household chores. Chores included tending to the children, cooking and cleaning. In the twentieth century, women had begun working outside of the home. In addition, there has been an increase with single-parent homes. The work day has also increased in hours. These factors have increased the demand for an alternative to home cooked meals. Wendys offers fast food at an affordable rate. Time that would have been spent in the kitchen can now be spent with family or running errands. Fast food also serves as an alternative to traditional restaurants that seat customers and offer full course meals. The meals offered at traditional establishments are priced higher than fast food restaurants. In addition, the time spent at a traditional restaurant is significantly more than time spent getting food at a fast food restaurant. For added convenience, most fast food restaurants offer seating for customers who wish to dine-in. Description of Substitutes and/or Complementary Products Wendys competes in local, regional, national, and international markets. Wendys mainly competes with Burger King and McDonalds on all market levels. Burger King and McDonalds offer the same types of foods as Wendys. Each fast food chain, however, offers something that the others do not. For instance, Burger King and McDonalds sell fish sandwiches all year, while Wendys only sells fish during Lent. On the other hand, Wendys offers chili while Burger King and McDonalds only sell chili in certain markets, or not at all. Wendys doesnt offer many complimentary items. Items sold at Wendys can be eaten alone or with other products. French fries usually complement sandwiches but can be eaten alone. Wendys offer a combination meal that includes a sandwich, fries and a drink since the items are usually purchased together. With the change in culture to a more health conscience environment, Wendys allows side salads as a substitute for French fries. In the immediate future, there may be a chance for a healthy fast food restaurant to enter the market. In general, the oligopolies in the food industry have large marketing budgets that hinder others from entering into the market. In addition, the members of the oligopoly can begin a price war to deter other entrants into the industry. However, it is conceivable that a healthy fast food restaurant may emerge in the near future. The fast food industry may have difficulties advertising against a healthy fast food restaurant, since the current culture is health conscience. Price Elasticity of Demand The price elasticity of demand is relatively elastic. If McDonalds and Burger King have promotional sales and Wendys does not follow suit, the demand curve for Wendys food will shift to the left, reflecting a decrease in demand. Due to the decrease in demand, Wendys will have more supply than usual. The supply curve will shift to the right. On the other hand, if Wendys raised the price on their food and other competitor prices remain the same, demand for Wendys food will decrease. Another factor of demand for Wendys food comes from a healthier culture. The shift in society has been to a more health conscience population. Demand for fast food had decreased as a result of high fat content in many of the foods. Wendys can adjust to a decrease in demand by increasing promotions and advertising. Having a promotional low-fat sandwich and extensive advertising will result in the demand curve shifting to the right. Another method to counteract a decrease in demand is to offer reduced prices for popular selling items. For example, Wendys could offer fifty cent junior cheeseburgers for a two week period. This type of promotion will get consumers back into Wendys and should boost the sell of French fries, since the two are usually sold together. To counteract the demand for a healthy fast food restaurant, Wendys will have to promote healthy items. Wendys has taken steps to include nutritional facts on their website and offer healthy menu items. They have increased their selection of salads and have collaborated with the American Diabetes Association to help familys select menu items for a healthier lifestyle (www. wendys. com). Advertising healthier menu items is an important part of countering restaurants that offer health food. Issues that Affect Consumer Demand and Price. Oligopolies are affected by the price competitors charge for similar products. The market share should remain constant if oligopolies collectively increase or decrease prices for similar products. Issues that affect consumer demand for fast food include changes in national, regional, and local economic conditions, consumer preferences and spending patterns, demographic trends, consumer perceptions of food safety, weather, traffic patterns, the type, number and location of competing restaurants (www. wendys-invest. com). For instance, fast food on highways and toll roads are priced higher than residential areas. The higher price can be charged on the roads and will not affect demand because travelers have few substitutes and will pay the higher price. Residents, on the other hand, can cook at home and have more substitutes than a traveler. The same is true for demographics. A restaurant in a metro area with a higher cost of living will have prices higher than a restaurant that is not located in a metro area. Demand for the higher priced items will not decrease because the cost of living is higher. The location of competitors will greatly affect price and demand. If there are many substitutes available, consumers will not buy an expensive product. In an oligopoly, a company has to be aware of competitors prices and predict what impact their own prices will have on competitors. The previously mentioned issues will continue to affect Wendys in the future. Wendys should remain competitive if their prices remain relative to their competitors. Wendys has to remain aware of the location of immediate competitors and competitors prices. Cost Component Factors such as inflation, food costs, legal claims, labor costs and benefit costs, affect administrative expenses (www. wendys-invest. com). Labor and Benefit costs are minimal expenses for Wendys compared to other industries. Wendys usually pays minimum wage and the majority of its employees are part-time. Therefore, benefits costs are low. Wendys is affected by inflation and food costs. However, the benefit that an oligopoly affords Wendys is they can expect competitors to react to increase inflation and food costs, as well. Increased prices should be realized by all competitors. Technology and productivity are indirectly proportional to average total cost. By increasing technology, productivity will increase. For example, a large grill will allow multiple hamburger orders to be processed at one time. Productivity increases for hamburgers. As a result, the average total cost to process on sandwich decreases. Wendys also has incorporated an automatic coin changer. This allows the coin portion of a customers change to be automatically dispensed by the register. Cashiers no longer have to count out someones change. This reduces processing time and allows for more customers to be served. In the future, inflation, food costs, legal claims, labor costs and benefit costs will continue to be a cost for the fast food industry. Advanced technology can aide in faster processing of customers and free up monies allocated for labor. For example, robotic arms can process all orders for fries. The culture has evolved into a ? get rich quick society. Frivolous law suits can pose as an added expense in the future, as well. The time and effort to investigate and disprove claims can be expensive. Wendys was recently involved in a severed finger scandal. Wendys official state that Wendys quarterly earnings fell nearly $2 million dollars after the scam (www. money. cnn. com). Market Structure Component. Wendys is an oligopoly. An oligopoly is a market structure that contains few large sellers. Most likely, there are barriers to enter the industry. The sellers have interdependence in pricing and output decisions. Oligopolies consider responses of rivals in pricing decisions. Strategies for pricing and output decisions include retaliatory pricing and advertising (McConnell Brue, 2005). Retaliatory pricing is one strategy that may govern how Wendys reacts to anothers price and output decision. Wendys can sale their sandwiches for a lower price than McDonalds and Burger King. However, Wendys could lose money by slashing prices and may have to raise prices or layoff employees to compensate for lost monies. Price slashing may work as an immediate competition tool, but should not be a long term solution for competing. Advertising is another strategy that governs how Wendys can compete with anothers price and output decision. Advertising can be more effective than price matching. By providing information about competing goods, advertising diminishes monopoly power and results in greater economic efficiency. Successful advertising can boost demand, lower long run average total cost due to increased output, and enable firms to enjoy economies of scale, (Muryn, n. d. ). Successful advertising campaigns may also raise the cost of entry to potential competitors. In the future, Wendys has to be more health conscience. McDonalds and Burger King are making advances towards healthier menu items. To stay competitive, Wendys should make more strides to display healthy menu items. Some of the advertising budget has to be directed toward health conscience consumers. Promotional campaigns should introduce the public to healthier items offered by Wendys. The market share for Wendys should remain competitive with the introduction of healthy menu items. Conclusion Wendys is an oligopoly that competes with McDonalds and Burger King. Demand is relatively elastic. To stay competitive, Wendys must stay aware of the competitions prices, location and menu items. Wendys should also know what current economic trends, costs, and societal shifts affect demand for their product. Wendys should use increased advertising as a long term tool to stay competitive. References CNN (2005). Wendys Frosty, Retrieved May 15, 2005 from http://www. money. cnn. com/2005/05/10/news/midcaps/wendys_frosty McConnell R. C. , Brue S. L. (2005). Economics principles, problems, and policies, 16th ed. New York: McGraw-Hill/Irwin. Muryn, Jack (n. d. ). ch25. ECO 204, Retrieved May 26, 2005, from http://www. washington. uwc. edu Wendys (2005). Eating Better Together, Retrieved May 30, 2005 from http://www. wendys. com/food/US_nutrition_topics. jsp Wendys-invest (2005). Safe Harbor Statement, Retrieved May 30, 2005 from http://www. wendys-invest. com/safeharbor.

F. Scott Fitzgeralds The Great Gatsby :: essays research papers

Then wear the gold hat, if that will move her; If you can bounce high, bounce for her too, Till she cry Lover, gold-hatted, high-bouncing lover, I must have you! Thomas Parke D'Invilliers Jay Gatsby went through most of his life striving for a new beginning, a chance to start over and succeed. He forced that aspect of life, into his own, by changing his identity. He was James Gatz a man who's unknown soul was left to linger in the past. Now he is Jay Gatsby. Gatsby does not realize that life can be difficult. You can not just move on and pretend that the past never happened. If you do not face the real and original you, you will never find success or happiness in the way you wish to live your present life. All through Gatsby's life he looked to the green light on the dock across the bay for hope and reassurance. He needed to know that his dream was still as bright as it was the day he met Daisy. Gatsby lived for an American dream. The truth was that Jay Gatsby of West Egg, Long Island, sprang from his Platonic conception of himself. He was a son of God - a phrase which, if it means anything, means just that. (Pg.104) Gatsby created himself to be his own hero, through the eyes of a seventeen year old boy. He began to wear that gold hat and rise in society with money, friends, and a love life he dreamed of returning. You see I usually find myself among strangers because I drift here and there trying to forget the sad thing that happened to me. (Pg.71-72) Gatsby smothered himself in popularity to try and block out the memory of the man he was before his change. He has been grieving for a love that he lost when drafted to the war. His only hope left is a green light across the bay which seems to shine through the unhappiness in Gatsby's life. Daisy, as pure and sweet as the flower itself, is the only thing left that is needed for him to complete his dream. He wanted nothing less of Daisy than that she should go to Tom and say, I never loved you. (Pg.116) We know that Gatsby is asking for to much of Daisy, he knows it too. Can't repeat the past?

Babel Essy

Pain of Loss Imagine yourself without the ability to hear anything, how would your life be compared to how it is now? The deaf are incredible people because they lack the capability of hearing and that can alter the way of communication if they also cannot speak. Even with all these disabilities, they find other ways to communicate using symbols and handwriting. Babel is an award winning movie that displays diversity. They have scenes from Morocco, Japan, Mexico and the United States. Chieko Wataya is one of the main characters in that movie.She is a deaf Japanese girl who has been issing her sense of hearing since she was a child. In Babel, Chieko shows feelings of helplessness, being inadequate and experiences the loss of control throughout the movie. First off, Chieko is missing her sense of hearing which can lead to her feeling helpless. She experiences something horrifying that no one should, by her finding her mother's dead body with a bullet straight to her cranium. Having tha t said, she is left with her with her who is always busy. She feels as if her dad does not pay much attention to her even though he is trying his best.An inattentive father can cause feelings of neglect and psychological issues in the future if she is left isolated. With her given situation, she becomes a helpless emotional person. It seems as though her disability to speak and hear has driven her life off the edge sanity. Since Chieko is not an average girl, love is hard to find to her. With her dad always working and not giving her enough attention, she seeks attention somewhere else, which is from her friends and men she does not even know. The inability to speak and hear is majorly ffecting her life and it makes her feel nothing other than helpless.Chieko's hard life can also make her feel in adequate. While trying to have fun and meeting boys, her friend and her go out to a club called â€Å"I-pop. † During her time there, she is very flirtatious to boys she finds attrac ting and they give her smiles as a reactions, as if approve of her. Eventually a boy comes and notices her while she plays an arcade game. Girls do not usually play video games, so she could have done this as a call for attention. It took Chieko a while to notice him because she is deaf. The boy is probably wondering if she can even hear him.When she finally notices him, the boy said hi to her. The only probable is that he did not know that Chieko was deaf and incapable of speaking. When he realizes this about her, he Just walks away from her uninterested. As he is walking away from her, she did not seem surprised as if she was used to those kinds of actions. Her self-esteem must be low due to the fact that she cannot speak or hear. She results in a desperate move to get other guys attention by taking off her underwear and show her private part to other boys. She is willing to do this because she thinks she cannot find love any other way.She thinks so low of herself that she offers herself as an item to men and nothing else. These impairments of her senses make her feel that she is not good enough for anybody. Chieko's lack of senses and the events happening in her life has caused her to experience a loss of control. After witnessing her friend kiss the boy she admires, she feels like she is betrayed. It seemed as though the world around her was falling apart because sne stands stil I in a club while people around ner were dancing This is one of the mains causes to lose her self-control.After she witnesses her friend betray her, Chieko decides to call detective Kenji Mamiya as an act of the loss of self-control. She started telling him a sympathetic story about how her mother died. Chieko lies about her mother's death saying that she Jumped off the thirty story balcony, but in reality, she had shot herself in the head. That lie is said was possibly the action she was going to do herself as an act of suicide. She mentions this as an attempt to make the detectiv e sorry for her. As the detective is leaving, she tells him to wait and she goes to another room.When she came back, the detective has a shocked looked on his face to see her being fully naked. Chieko tries to seduce the detective as a final attempt to make herself feel happy, but Mr. Mamiya rejects her knowing that she is too young. She eventually realizes her actionsto him and apologizes for it. The loss of control with her emotions has caused her to do these extreme actions only because of the hard life she is living. In the end, feeling helplessness and inadequate has caused Chieko to lose control f herself.As she realizes this, her dad comes home to see her at the balcony. She could have thought of Jumping off to make all her pain go away. She cries and hugs him because she knows she is not truly alone, she has her dad by her side. The absence of her senses has makes her life rough. Speech is not the only way of communication, so Chieko should realize that her life could have b een worse. She could have been blind and is not able to see anything. Being deaf may be a hard disability in life, but people can work their way around it.

The Art Exhibition Of The Piano For More Than 10 Years

As a person who has been learning to play the piano for more than 10 years, I not only love music, but also am interested in other various forms of arts. Painting, which is the practice of applying paint, pigment, color or other medium to a surface, is one kind of arts I love. Therefore, instead of having dinner with friends, I went to the Emporium Center and visited â€Å"The Fall Juried Show: 41st Fall Art Exhibition† at 6 pm on last Friday. It was a rainy day. Walking along the sidewalk in downtown Knoxville with the rain made me a little melancholy, but I did not feel bad because I thought that melancholy is a good feeling for enjoying arts. When you are melancholy, your senses will be more sensitive, which makes you notice more details of various kinds of arts. When I stood in front of the Emporium Center, the building â€Å"The Fall Juried Show: 41st Fall Art Exhibition† was displayed at, I could see that the exterior wall of this building was consisted of tawny bricks. Some bricks were dark tawny, and some bricks were light tawny. A mottled exterior, brick wall made it seem like this building was steeped in history, and so it did. The Emporium Center was originally built in 1898, and was re-opened following renovations during the summer of 2004. This building, which located at 100 South Gay Street, has the 28,000 square feet of flexible use space. It houses multiple art galleries, which showcase local and reg ional artists, the administrative offices of the Arts CultureShow MoreRelatedWassily Kandinsky Essay1710 Words   |  7 PagesSolomon Higgs Dr. Watson HUMA 1153 4-22-10 Wassily Kandinsky Wassily Kandinsky was a Russian-born artist, whose contributions to the world of modern art are innumerable. On an artistic level, Kandinskys maturation process from representational art to abstract art is fascinating. From his earliest work, with an impressionistic flair, to his later work, which was pure abstraction, Kandinsky was an innovator and a genius. 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