Marketing Management

  • Explain both positive and negative WOM and the influence of digital WOM on consumers using websites such as or What should the recipients of poor reviews on these sites do to remedy negative WOM?
  • Discuss the “wisdom of crowds” and apply this perspective to reviews one might find on sites such as Yelp or Trip Advisor. Which do you trust more: the reviews of fellow travelers or the opinions of travel experts? Explain your choice.
  • Consider how general economic conditions affect the way consumers allocate their money. Explain how confidence in the future, as well as in the overall economy, determines how freely people spend and the types of products they buy. How do travel sites such as the ones discussed in this case assist consumers in making sound economic decisions?

A firm has a short-run variable cost function VCsr (Q) = Q3 – 10Q2 + 30Q.

a) Calculate the short-run marginal and average cost at this production level. (4 marks)

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b) If the market price is p = Sh. 18, how much would the firm decide to produce?

(6 marks)

(Note: If you obtain two possible values for Q, choose the highest.)

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