The market education: Museums

The market education: Museums Assignment example
High school
Assignment
Marketing
Pages 6 (1506 words)
Download 0
Name Course Course Instructor Date The market education: Museums 1. Introduction A market can be described as a place, which provides an opportunity to purchasers and sellers to engage in an exchange of various goods and services. In any market, there is information gathering by the buyers and sellers…

Introduction

Nonetheless, this paper focuses on museums, in the context of a market, and explores how museums and museum visits satisfy the various aspects of a market economy and economics. 2. Markets, Demand, and Supply The market plays a major role in ensuring that the force of demand is equivalent to that of supply. In the case of museums, museum visits represent demand, while the number of available museums and museum services represent the supply. In a market, there is the aspect of price mechanism, which involves an interaction between the buyers and sellers, in order to determine the market price. Nonetheless, the market price is determined by the supply and demand in the market. Therefore, when prices rise, the demand falls, and when the prices fall, the demand rises. On the other hand, the market equilibrium price is achieved when there is a balance between the force of supply and that of demand. In this case, there results a balance in production and consumption of goods and services. Prices in a market economy can act as an incentive to entice buyers to purchase more goods. Therefore, when prices are lowered, this acts an incentive, as consumers will be able to purchase larger quantities of goods and services. ...
Download paper
Not exactly what you need?

Related papers

Understanding Value: Western art market vs Eastern art markets
Understanding Value: Western art market vs Eastern art markets …
Marketing Research for Yelp in the Brazilian Market.
If you feel that any of the steps mentioned in the proposal contradict with your expectations, kindly notify us so that we may be able to make the relevant modification on a timely basis. …
Online Education Market Research
The research aims at highlighting the role of online courses in changing the conventional trend of education system along with adding value to the education system. For this purpose, the research has been designed in a logical manner covering different points. The researcher has formulated research questions and objectives that will be achieved through primary and secondary data analysis. The…
marketing plan ( market the city of toronto)
This has the effect of improving on their revenue base. At the same time, companies want to gain global recognition. In essence, this is something, which is rather beneficial when it comes to business (Crouch, 2011). Various cities use different approaches in the course of their marketing. It is imperative to note that the method, which is to be used, is largely dependent on the expansive market.…
A Marketing analysis of Italian wine in the Chinese market
Political Political factors play an important role in the performance of businesses in the long run. In China, political risk is relatively low compared to other emerging economies in the world. This is because China follows a one party policy, which reduces chances of political parties among opponents. The central government of China has recently revised its taxation policy in order to help it…
market segmenatation
Consumers from similar market segments also respond in the same manner to market fluctuations. Basis on which market segmentation is done includes gender, income, age group, marital status, and occupation (Yankelovich, 2004: p86). Based on gender, the marketer will divide the consumer market into smaller sub-sets with regards to gender. Women and men possess different preferences and interests,…
STRATEGIC MARKETING MANAGEMENT
. 3.0 Marketing plan. 3.1 Marketing objectives. 3.2 Situational analysis. 4.0 The marketing strategy. 4.1 Psychographic research necessity. 4.2 Personalised service production – direct marketing. 4.3 Enhanced promotional development. 4.4 Strategic alliances and partnerships. 4.5 Control systems. 5.0 Recommendations. 6.0 Conclusion.