Managerial Economics Term Paper

Managerial Economics Term Paper-60
Now the industry is worth $US60 billion and the farmers get about $US5.5 billion.Berkeley, California, for example, has even considered banning the sale of coffee that is not 'fair trade'.(2010) reported that there are almost 49,888 Fast-food companies and chain shops in the USA and this number is increasing in every week where the major player are Arby’s Group, Burger King Corporation, Doctor’s Associates Inc.

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After four years of record low prices, the International Coffee Organisation (ICO) composite price index shows average prices to be trending upwards.

From an average price of 48 cents a pound in 2002, to 52 cents a pound in 2003, the first quarter of 2004 saw an average price of around 59 cents a pound.

The major suppliers of the industry could categorize into a number of segments because the raw materials required in the production process of food products are not necessarily available from any single supplier.

The most essential suppliers of the fast food industry include: Manta Media Inc.

Oxfam, meanwhile, has taken a decisive step and joined forces with the UK's largest independent coffee roaster, Matthew Algie, announcing plans to launch a chain of fair trade coffee shops, called Progreso, in partnership with coffee grower cooperatives.

While support for the fair trade lobby has certainly grown in recent years, it faces opposition from free market economists like those at the Adam Smith Institute, who claim that fair trade fosters inefficiency and that, ultimately, this will not help farmers in less developed countries (LDCs).

The fair trade lobby has certainly received a lot of attention of late as cappuccino consumers in the malls and high streets in developed countries have begun to voice their concern about the plight of coffee farmers in the less developed world.

Ten years ago, the world coffee market was worth $US30 billion and farmers received about $US10 billion.

A significant part of the fast food industry in UK and USA are now dominated by Bengali and Indian fast food restaurants (especially central London); snacks like Kheema, Paratha, Keshar Pista-Kulfi, Aloo Posto, Amer Chatni, pickles, Khichdi, Batter Fried Fish, Bengali Fish Curry, Payesh, Coconut Almond Sandesh, Fish Cutlet, Rasgulla, Yoghurt Fish, Ras Malai, etc are largely preferred by customers.

In the US Fast Food Industry, product differentiation is another criterion where the Mc Donald and other firms put into practice by branding, packaging, advertising; price, flavor, and color successfully motivate the customer to determine their requirements from their own product line rather than going to the other firms.

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