An overview of the theory of Microeconomics (consumer behaviour and market structures) in fast food marketing
AbstractThis paper provides an overview of the application of microeconomic theories in fast food marketing. The aim is to bring out the interrelationship between marketing and microeconomics with respect to the fast food industry. The paper examines some conceptual and theoretical tools that will enhance the marketing practices of managers in the fast food industry. Hence, the marketing aspects of international fast food firms are analyzed within the framework of the concept of consumer behaviour and monopolistic market structures. The paper further analyzes the market structures and its implications on the profit, cost and revenue of fast food firms. The concluding part of this paper brings out the marketing implications of the theory of consumer behaviour and market structures and also describes the strategies that firms in a monopolistic market can use to increase their bottom line, become competitive and increase their market share.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Ekonomika a Management.
Volume (Year): 2011 (2011)
Issue (Month): 1 ()
Postal: Redakce Ekonomika a management, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- M31 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising - - - Marketing
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- Biswas, Tapan, 1977. "The Marshallian Consumer," Economica, London School of Economics and Political Science, vol. 44(173), pages 47-56, February.
- Macdonald, Emma K. & Sharp, Byron M., 2000. "Brand Awareness Effects on Consumer Decision Making for a Common, Repeat Purchase Product:: A Replication," Journal of Business Research, Elsevier, vol. 48(1), pages 5-15, April.
- Hoch, Stephen J & Loewenstein, George F, 1991. " Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, University of Chicago Press, vol. 17(4), pages 492-507, March.
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