Hypothetical Case Study: monopoly high pricing. 2005: Motorway services in Wales
|
|
- Ashlie Bryan
- 5 years ago
- Views:
Transcription
1 Hypothetical Case Study: monopoly high pricing 2005: Motorway services in Wales NB. All details are fictional, and no reference is intended to any existing company or person. This was first written some time ago, so it is interesting to see how low my predictions were of fuel and other prices! Some background In the UK motorway service areas are strictly limited in number and are operated on a franchise basis. Companies awarded the franchise have complete discretion over prices to be charged, but they must remain open 24 hours and provide free toilets for all visitors. In response to complaints of shoddy service, they have typically sublet parts of the site to fast food chains such as McDonalds, Burger King, and Pizza Hut. Quality in the main restaurant has improved but prices are reckoned to be high by UK standards. The Welsh motorway does not (yet) exist. Wales is hilly and, apart from the area around and to the West of Cardiff in the South, is sparsely populated and does not have a very good reputation amongst food lovers. Recently Wales got its own National Assembly. Complaint This case arose out of the complaints of travellers on the motorway opened in 2003 across central Wales linking Holyhead and Cardiff. There is only one motorway services on the winding, hilly, 180 mile road which forms the only direct transport link between north and south Wales since storms swept away the railway viaduct at Towyn, near Aberystwyth, which is awaiting a decision by the European Regional Infrastructure Commission in Frankfurt before it can be rebuilt. The services are operated by WMS (Welsh Motorway Services), a wholly-owned subsidiary of (USowned) First Leisure Corporation of Indiana. The Board of WMS is largely British. The main complaints have been high prices and, at peak times, long queues for food and petrol. Nature of product demand Only a handful of people set out to visit motorway service areas as their primary objective. Motorway services are primarily consumed along with travel. They include: restaurants petrol stations shops plus a variety of free services such as 2-hour parking, maps and toilets. A recent survey undertaken by the Welsh Office showed the average pattern of behaviour at the mid-wales service station: City University 1
2 0.60 Economics of Regulation and Competition For week 5 Table 1: Spending pattern of visitors to service station in the year 2005 Leisure Business Transport Average parking time 45 mins 40 mins 60 mins Average spending on: Restaurant Fuel Shopping&c Typical journey cost Number if vehicles per day These spending patterns include the 30% of visitors who use the services but spend nothing. Leisure and business users mainly drive cars and multi-purpose vehicles (95% petrol driven). Transport drivers drive a range of vehicles, from Tranisent vans to 8-axle, 60 tonne Cobber road trains. These transport vehicles are 95% diesel. The market-prices The Competition Commission commissioned a survey from a leisure consultancy, who collected the following information on meal prices. Table 2: Survey of Restaurant Prices Type of restaurant WMS English Eat n Go Greasy Vaderbuilt Food Motorway Spoon Plaza ( A roads) ( A roads) (Cardiff) Fish and chips oz lamburger n.a. n.a. Baconandeggs Welsh Rarebit 2.70 n.a. n.a Coffee Tea (Pot for one) Roll and butter Note: Fish and chips is a popular British restaurant dish. Welsh rarebit is melted cheese on toasted bread. Greasy spoon is colourful language for a cheap basic café. Table 3: Fuel prices Type of outlet Fuel English Welsh per litre WMS Motorway A road Supermarket Unleaded regular Diesel City University 2
3 The market costs WMS s cost structure is shown in the following Table. The site rent covers a charge for depreciation and interest on the building costs incurred when the services were opened. Annual Costs Site rent (to group holding 20,000,000 company Of which petrol station 5m Maintenance of common areas 6,000,000 Restaurant: Staff 3,500,000 Materials, etc. 5,000,000 Petrol station: Total expenses (excluding 20,000,000 Rent) Site total 54,500,000 The market revenues WMS s revenues are obtained largely from operation of the motorway service area. Table 4: WMS Source of revenue Source Restaurant Fuel Shopping Total Annual revenues 20.6m 29.7m 4.8m 55.2m Views of Customers Transport drivers noted that prices were twice as high as in typical transport cafés, and 20% higher than in typical English motorway service stations. The situation had been improved slightly for regular drivers by the introduction of a loyalty card giving 20% reductions once a minimum accumulated spending of 50 was triggered. Other customers noted the isolation of the spot, but claimed this should mean that prices should be lower, not higher. A number of regular travellers said they had tried going off the motorway with limited success but everything seems to shut at 5.30 round here. Other customers were very pleased with the standard of service at least when the place isn t too busy. City University 3
4 6.30 profits 9.30 so Economics of Regulation and Competition For week 5 The Company s views The relevant market was motorway travel, of which motorway services were just one input. The cost of the whole product should be looked at. Viewed in this way it was still cheaper to travel down the Welsh motorway than to go via the northern coast road and M5. More fuel would be required, more stops for food, and more time spent. The service station operating company admitted that prices were higher than in comparable restaurants on A roads, but claimed that this was the result of higher costs arising from the need to open 24 hours and to provide toilet facilities to all corners, whether they spent any money or not. The situation in mid-wales gave rise to further difficulties. Staff had to be bussed in from as far away as 50 miles, and all food had to come along the motorway from Cardiff. Because of this the standard contract was for 8 hour shifts, which made it uneconomic to employ staff simply to cope with the 2 daily peaks, 7.30 am and 4.30 pm. WMS claimed that the standard of service on the site was much better than at English Motorway services. All customers were assigned a personal serving assistant, and, except at peak times, the aim was to get the customers back on the road within 35 minutes of arrival in the restaurant. Because or the superior ambience, price levels should be compared with a 4-crest hotel, such as in the new Vaderbuilt Plaza chain. The company denied they had a monopoly. Nobody forces people to use the facilities. Drivers could fill up before the start of their journal, and could take food with them: indeed, a recent survey showed that as many as 20% of visitors brought food with them to eat in their vehicles, twice the figure of English motorways. Those who patronised the café, therefore, had to subsidise these others, since the licence terms did not permit charges for short-term parking or use of toilet facilities, on grounds of road safety and public health. The company offered a back to basics range of items, including tea, coffee, and simple snacks which the company believed were competitively priced. Another example of competition was in diesel prices. Commercial drivers were well aware of price differences, and their vehicles had longer ranges than domestic vehicles. If prices were too high, these drivers would fill up before their journey started. The site was only marginally profitable were only 1.4% of turnover it was difficult to see how the service area could afford to reduce any of its prices, unless service standards were allowed to fall. The views of other parties The chairman of the Eat n Go chain, Mr Dicky Bramsgrove, said they had tried to establish just-off-the-motorway services to gain economies of scope from serving both local and long-distance travellers, but had faced difficulties from the planning authorities, particularly in National Park areas. Unlike in America it was difficult to advertise off-the-motorway services, so they had reluctantly abandoned the idea. City University 4
5 Questions for consideration 1. What further information would you seek? (up to three items, in order of priority). 2. What is the relevant market or markets? (Make explicit reference to substitutes.) Are there separate segments within the market thus defined? 3. Are entry barriers significant? (What is their source?) 4. Is there dominance in this market? 5. Is there any evidence that prices are excessive? 6. Is there any evidence of price discrimination? 7. Is a remedy called for? If so, suggest some alternatives. Which do you prefer? John Cubbin City University 5
Company name (YUM) Analyst: Roman Sandoval, Niklas Podhraski, Akash Patel Spring Recommendation: Don t Buy Target Price until (12/27/2016): $95
Recommendation: Don t Buy Target Price until (12/27/2016): $95 1. Reasons for the Recommendation One of the most important reasons why we don t want to buy Yum is the growth prospects of the company in
More informationRail Haverhill Viability Study
Rail Haverhill Viability Study The Greater Cambridge City Deal commissioned and recently published a Cambridge to Haverhill Corridor viability report. http://www4.cambridgeshire.gov.uk/citydeal/info/2/transport/1/transport_consultations/8
More information2017 National Monitor of Fuel Consumer Attitudes ACAPMA
2017 National Monitor of Fuel Consumer Attitudes ACAPMA FIVE DIFFERENT FUEL SHOPPERS Convenience Store Shopper Location Driven Price Sensitive, Fuel Only Price Sensitive, Loyalty Fixed Retailer Percentage
More informationGrape Growers of Ontario Developing key measures to critically look at the grape and wine industry
Grape Growers of Ontario Developing key measures to critically look at the grape and wine industry March 2012 Background and scope of the project Background The Grape Growers of Ontario GGO is looking
More informationFinal Report. The Lunchtime Occasion in Republic of Ireland and Great Britain
Final Report The Lunchtime Occasion in Republic of Ireland and Great Britain November 2013 Contents Introduction & Research Objectives... 1 Research Method... 2 Segment Profiles... 3 Executive Summary...
More informationMore information from: https://www.wiseguyreports.com/reports/ global-online-food-delivery-and-takeaway-marketanalysis-by-order-type
Report Information More information from: https://www.wiseguyreports.com/reports/1079744-global-online-food-delivery-and-takeaway-marketanalysis-by-order-type Global Online Food Delivery and Takeaway Market
More informationTHIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 4/24/2013 GAIN Report Number:
More informationAn Examination of operating costs within a state s restaurant industry
University of Nevada, Las Vegas Digital Scholarship@UNLV Caesars Hospitality Research Summit Emerging Issues and Trends in Hospitality and Tourism Research 2010 Jun 8th, 12:00 AM - Jun 10th, 12:00 AM An
More informationACSI Restaurant Report 2014
June 17, 2014 ACSI Restaurant Report 2014 Industry Results for: Full-Service Restaurants Limited-Service Restaurants Customer Satisfaction Rises for Full-Service Restaurants, Strong and Steady for Limited-Service
More informationPavilion Organizer - THAILAND
Pavilion Organizer - THAILAND Our participation in Foodex was successful and we have made achievements. So we plan to exhibit again next year in the importer zone using 14 booths, the same size as this
More informationFEATURES OF GLOBALISED PRODUCTS -Its production is specific: it relies on the DIVISION OF LABOUR and its production is usually outsourced
Globalised products FEATURES OF GLOBALISED PRODUCTS -Its production is specific: it relies on the DIVISION OF LABOUR and its production is usually outsourced -It is spread all over the world: either identical
More informationDELIVERING REFRESHING SOFT DRINKS
BEVERAGES DIVISION DELIVERING REFRESHING SOFT DRINKS Swire Beverages manufactures, markets and distributes refreshing soft drinks to consumers in Hong Kong, Taiwan, Mainland China and the USA. 46 215 PERFORMANCE
More information3. Permit hotels/resorts with a liquor primary to provide a free alcoholic drink to guests in the lobby/reception area at check-in
Date: October 20, 2016 To: Re: All LCLB Staff All licensees All industry associations All local government, First Nations and police agencies Liquor primary licence policy changes Please note: These policy
More informationChapter Ten. Alcoholic Beverages. 1. Article 402 (Right of Entry and Exit) does not apply to this Chapter.
103 Chapter Ten Alcoholic Beverages Article 1000: Application of General Rules 1. Article 402 (Right of Entry and Exit) does not apply to this Chapter. 2. For greater certainty, Articles 400 (Application),
More informationWine On-Premise UK 2016
Wine On-Premise UK 2016 T H E M E N U Introduction... Page 5 The UK s Best On-Premise Distributors... Page 7 The UK s Most Listed Wine Brands... Page 17 The Big Picture... Page 26 The Style Mix... Page
More informationCLG: Seafood Consumption. Richard Watson Seafish
CLG: Seafood Consumption Richard Watson Seafish Agenda Seafish Insight Service Benchmark Consumption Trends Trend Drivers Growing Seafood Consumption Market Insight Service Provide 250 reports per year
More informationTrends & Styles in Northern European Markets
Trends & Styles in Northern European Markets by Job de Swart MW RAI - AMSTERDAM 26 NOVEMBER 2018 Who is this guy? - Job de Swart is the 3rd Dutchman to become a Master of Wine in 2018 - Wine buyer for
More informationWant a Quick Serve Restaurant? Here s How!
Summit Membership Meeting Want a Quick Serve Restaurant? Here s How! Presented by: Russ Morgan, RPM Consulting Group, LLC & Robert Lenhart, San Francisco Sourdough Eatery Russ Morgan, RPM Consulting Group,
More informationRetailing Frozen Foods
61 Retailing Frozen Foods G. B. Davis Agricultural Experiment Station Oregon State College Corvallis Circular of Information 562 September 1956 iling Frozen Foods in Portland, Oregon G. B. DAVIS, Associate
More information4 Steps to Survive the Fast Casual Digital Ordering & Delivery Revolution
HOW-TO GUIDE 4 Steps to Survive the Fast Casual Digital Ordering & Delivery Revolution The restaurant industry has always been competitive. There s forever plenty of demand from continuously hungry humans,
More informationUNIVERSITY OF PLYMOUTH SUSTAINABLE FOOD PLAN
UNIVERSITY OF PLYMOUTH SUSTAINABLE FOOD PLAN 2014 2020 Date Section Page Issue Modifications Approved (Print name) 28/03/2011 Issued. 1 First issue Procurement 09/07/2014 All All 2 Updated from original
More informationMarketing Strategy and Alliances Analysis of Starbucks Corporation
Liberty University DigitalCommons@Liberty University Faculty Publications and Presentations School of Business 2009 Marketing Strategy and Alliances Analysis of Starbucks Corporation Rebecca Lingley Liberty
More informationHERZLIA MIDDLE SCHOOL
NAME TEACHER S COMMENT TEACHER CLASS PARENT S COMMENT MARK PERCENTAGE PARENT S SIGNATURE HERZLIA MIDDLE SCHOOL GRADE 7 ECONOMIC & MANAGEMENT SCIENCES 27 AUGUST 2015 TIME: 50 minutes MARKS: 70 o This paper
More informationCompany Coverage. Country Coverage. Global Coverage. Regional Coverage
Global Food Service Market: Analysis By Type (Full Service Restaurants, Cafe and Bars, QSRs, Fast Casual Restaurants, Others), By Full Service Restaurant (Fine Dining, Casual Dining), By Region, By Country
More informationYAKIMA VALLEY TOURISM ANNUAL REPORT
YAKIMA VALLEY TOURISM ANNUAL REPORT 17 20 LEADERSHIP MESSAGE On behalf of the Board of Directors and staff of Yakima Valley Tourism, we are proud to present our 2017 Annual Report. Tourism means economic
More informationAnswer: 1881 km. a How many litres have been used? Answer: litres. Answer: Answer: a How much flour has been used?
Unit 8: Basic Operations Section A: Addition This section will help you to improve your addition skills for basic operations. Read the questions below and answer all of them in the spaces provided. To
More informationThe following slides collate the insights relating to food and drink only.
1 2 The following slides collate the insights relating to food and drink only. To see the full results and to put this extract into context please click on this link: Scotland Visitor Survey Objectives
More informationGlobal Contract Catering Market: Size, Trends & Forecasts ( ) March 2018
Global Contract Catering Market: Size, Trends & Forecasts (2018-2022) March 2018 Global Contract Catering Market: Coverage Executive Summary and Scope Introduction/Market Overview Global Market Analysis
More information1
1 Introduction In his 213 budget, the then chancellor George Osborne abolished the beer duty escalator which increased beer duty by 2 per cent above the rate of inflation. A 1p cut in duty was also announced.
More informationBoston Beer Company, Inc. SELL Price Target: $110 Key Statistics as of 04/29/2016. Thesis Points: Company Description: NYSE:SAM
Boston Beer Company, Inc. NYSE:SAM Analyst: Sector: Lionel Krupka Consumer Disc. SELL Price Target: $110 Key Statistics as of 04/29/2016 Market Price: Industry: Market Cap: 52-Week Range: Beta: $156.08
More informationThe 2006 Economic Impact of Nebraska Wineries and Grape Growers
A Bureau of Business Economic Impact Analysis From the University of Nebraska Lincoln The 2006 Economic Impact of Nebraska Wineries and Grape Growers Dr. Eric Thompson Seth Freudenburg Prepared for The
More informationMSA TESTS Number of European MSAs given this rating
MSA TESTS 2001 Key Points * The project was directed and managed by the ADAC (the German AA) and funded by the EuroTest consortium of motoring organisations * The tests were carried out by the Swiss Gastro
More informationHow Rest Area Commercialization Will Devastate the Economic Contributions of Interstate Businesses. Acknowledgements
How Rest Area Commercialization Will Devastate the Economic Contributions of Interstate Businesses Acknowledgements The NATSO Foundation, a charitable 501(c)(3) organization, is the research and educational
More informationEU Sugar Market Report Quarterly report 04
TABLE CONTENT Page 1 - EU sugar prices 1 2 - EU sugar production 3 3 - EU sugar import licences 5 4 - EU sugar balances 7 5 - EU molasses 10 1 - EU SUGAR PRICES Quota As indicated and expected in our EU
More informationCase No IV/M PEPSICO / KAS. REGULATION (EEC) No 4064/89 MERGER PROCEDURE. Article 6(1)(b) NON-OPPOSITION Date:
EN Case No IV/M.289 - PEPSICO / KAS Only the English text is available and authentic. REGULATION (EEC) No 4064/89 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 21.12.1992 Also available in the
More informationThe British Pub What Does the Future Hold?
The British Pub What Does the Future Hold? Outline What will the pub landscape look like in five or ten years time? Will the 'traditional' pub be able to hold its own? What will be the impact of growth
More informationUNIVERSITY OF PLYMOUTH FAIRTRADE PLAN
UNIVERSITY OF PLYMOUTH FAIRTRADE PLAN 2014 2020 Date Section Page Issue Modifications Approved (Print name) December Issued. 1 First issue Linda Morris 2012 09/07/2014 All All 2 Updated from original Policy
More informationStarbucks / Dunkin Donuts research. Presented by Alex Hockley and Molly Fox. Wednesday, June 13, 2012
F& H Starbucks / Dunkin Donuts research Presented by Alex Hockley and Molly Fox Executive Summary: These days there are a significant amount of coffee establishments located in Center City, Philadelphia.
More informationAccess Statement - Stadium of Light INTRODUCTION
Access Statement - Stadium of Light This access statement does not contain personal opinions as to suitability for those with access needs, but aims to accurately describe the facilities and services we
More informationCHAPTER I BACKGROUND
CHAPTER I BACKGROUND 1.1. Problem Definition Indonesia is one of the developing countries that already officially open its economy market into global. This could be seen as a challenge for Indonesian local
More informationGlobal Concession Catering Market: Size, Trends & Forecasts ( ) December 2016
Global Concession Catering Market: Size, Trends & Forecasts (2016-2020) December 2016 Global Concession Catering Market Report Scope of the Report The report entitled Global Concession Catering Market:
More informationFoodservice EUROPE. 10 countries analyzed: AUSTRIA BELGIUM FRANCE GERMANY ITALY NETHERLANDS PORTUGAL SPAIN SWITZERLAND UK
Foodservice EUROPE MARKET INSIGHTS & CHALLENGES 2015 2016 2017 2020 Innovative European Foodservice Experts 18, avenue Marcel Anthonioz BP 28 01220 Divonne-les-Bains - France 10 countries analyzed: AUSTRIA
More information16 17 October 2018 caffecultureshow.com
caffecultureshow.com 2 New Team, New Venue, New Dates, New Rates After 11 years at Olympia, the event is moving to the Business Design Centre in Islington, which is in the heart of one of London s most
More informationSportzfun.com. Source: Joseph Pine and James Gilmore, The Experience Economy, Harvard Business School Press.
National Extension Tourism Conference Park City, Utah Center for Agribusiness and Economic Development June 15 th, 2009 or Agribusin siness and Econ onomic Deve Center fo velopment What does Agritourism
More information1 Introduction The beer industry in the UK provides nearly 900,000 jobs and contributes 23bn annually to the UK economy. The sector also supports the employment of a large number of people in underrepresented
More informationFairtrade Buying Behaviour: We Know What They Think, But Do We Know What They Do?
Fairtrade Buying Behaviour: We Know What They Think, But Do We Know What They Do? Dr. Fred A. Yamoah Prof. Andrew Fearne Dr. Rachel Duffy Dr. Dan Petrovici Background/Context The UK is a major market for
More informationFeststellungsprüfung im Fach Englisch 2010 für die 11. Jahrgangsstufe FOS, 12. Jahrgangsstufe BOS. - alle Ausbildungsrichtungen -
Feststellungsprüfung im Fach Englisch 200 für die. Jahrgangsstufe FOS, 2. Jahrgangsstufe BOS - alle Ausbildungsrichtungen - Name: Schule: Arbeitszeit: 45 Minuten Zugelassene Hilfsmittel: keine Note: Cloze
More informationIdentifying & Managing Allergen Risks in the Foodservice Sector
Identifying & Managing Allergen Risks in the Foodservice Sector Simon Flanagan Senior Consultant Food Safety and Allergens Customer Focused, Science Driven, Results Led Overview Understanding the hierarchy
More informationIntroduction. Quantification of the marketing and distribution costs for the commercialization of Alsatian wine Work in progress
Vineyard Data Quantification Society Quantification of the marketing and distribution costs for the commercialization of Alsatian wine Work in progress Laurent Grimal, Philippe Guerlain, Sylvie Rivot Université
More informationDESICCATED COCONUT Introduction Market Packaging Production capacity Sales revenue
DESICCATED COCONUT 1. Introduction Desiccated coconut is used commonly in sweetmeat preparations, as toppings in desserts, ice creams, puddings, etc., as a filler in betel leaves and a variety of products.
More informationA Study on Consumer Attitude Towards Café Coffee Day. Gonsalves Samuel and Dias Franklyn. Abstract
Reflections Journal of Management (RJOM) Volume 5, January 2016 Available online at: http://reflections.rustomjee.com/index.php/reflections/issue/view/3/showtoc A Study on Consumer Attitude Towards Café
More informationCONSUMER TRENDS Pulses In India
International Markets Bureau MARKET INDICATOR REPORT DECEMBER 2009 CONSUMER TRENDS Pulses In India Consumer Trends Pulses in India EXECUTIVE SUMMARY While India is the largest producer of pulses in the
More informationNEW ZEALAND WINE FOOD BILL ORAL SUBMISSION OF NEW ZEALAND WINEGROWERS 23 SEPTEMBER Introduction
NEW ZEALAND WINE PURE DISCOVERY FOOD BILL ORAL SUBMISSION OF NEW ZEALAND WINEGROWERS 23 SEPTEMBER 2010 Introduction 1. New Zealand Winegrowers (NZW) is the national industry organisation representing the
More informationSmall Breweries Relief. A Response from CAMRA, The Campaign for Real Ale
Small Breweries Relief A Response from CAMRA, The Campaign for Real Ale October 2003 1.0 Introduction and Summary 1.1 We support the principle of reduced rates of duty for small brewers. Small brewers
More informationBottled Water Category Overview
Bottled Water Category Overview 2014-2015 Disclaimer The following information is offered in good faith and represents an unqualified interpretation of a range of industry commentary and market data. It
More informationThe National Association of Convenience Stores (NACS) defines a convenience store as:
The National Association of Convenience Stores (NACS) defines a convenience store as: A retail business with primary emphasis placed on providing the public a convenient location to quickly purchase from
More informationFACTORS DETERMINING UNITED STATES IMPORTS OF COFFEE
12 November 1953 FACTORS DETERMINING UNITED STATES IMPORTS OF COFFEE The present paper is the first in a series which will offer analyses of the factors that account for the imports into the United States
More informationMcDONALD'S AS A MEMBER OF THE COMMUNITY
McDONALD'S ECONOMIC IMPACT WITH REBUILDING AND REIMAGING ITS RESTAURANTS IN SOUTH LOS ANGELES, CALIFORNIA A Report to McDonald's Corporation Study conducted by Dennis H. Tootelian, Ph.D. November 2010
More informationInvestment Opportunity
Golden Corral New 15 year Absolute Triple Net Lease With 10% escalations every 5 years 825 East State Road 44 Shelbyville, IN 46176 Investment Summary: This Golden Corral restaurant is is approximately
More informationFOOD SERVICE FOOD SERVICE FOOD SERVICE. Food service: Food service. Dispensing prepared meals and snacks for on-premise immediate consumption
Food service: Dispensing prepared meals and snacks for on-premise immediate consumption Value added by the food and fiber system, 2001 Farming Input industries Manufacturing Food processing Nonfoods Distribution
More informationDemand, Supply and Market Equilibrium. Lecture 4 Shahid Iqbal
Demand, Supply and Market Equilibrium Lecture 4 Shahid Iqbal Markets & Economics A market is a group of buyers and sellers of a particular good or service. The terms supply and demand refer to the behavior
More informationFrequently Asked Questions Little Mix Timings. What are the timings of the event? 3pm All official car parks open
Frequently Asked Questions Little Mix Timings What are the timings of the event? 3pm All official car parks open 4pm The Catering Village opens 5pm All stadium gates open LITTLE MIX 10.00pm Concert ends
More informationThe European Hemp Industry: Cultivation, processing and applications for fibres, shivs, seeds and flowers
The European Hemp Industry: Cultivation, processing and applications for fibres, shivs, seeds and flowers Authors: Michael Carus 2017-03-26 Introduction Hemp is a multi-purpose crop, delivering fibres,
More informationFish and Chips in Commercial Foodservice 2016 JULIA BROOKS, JANUARY 2017
Fish and Chips in Commercial Foodservice 2016 JULIA BROOKS, JANUARY 2017 INTRODUCTION Since the mid nineteenth century fish and chips have built their position as being a symbol of the UK s culinary culture
More informationBy Type Still, Sparkling, Spring. By Volume- Liters Consumed. By Region - North America, Europe, Asia Pacific, Latin America and Middle East
Global Bottled Water Market (Value, Volume): Analysis By Type (Still, Sparkling, Spring), By Region, By Country: Opportunities and Forecast (2018-2023) By Type Still, Sparkling, Spring By Volume- Liters
More informationBeer sales pick up in 2010 after the slowdown in 2009
Global Picture Beer sales pick up in 2010 after the slowdown in 2009 Global beer volume growth picked up again in 2010, after flat sales in 2009, with volumes growing by over 1%. It appears that recovery
More informationThe Contribution made by Beer to the European Economy. Poland - January 2016
The Contribution made by Beer to the European Economy Poland - January 2016 Europe Economics is registered in England No. 3477100. Registered offices at Chancery House, 53-64 Chancery Lane, London WC2A
More informationGUIDANCE NOTE ON UK IMPLEMENTATION OF A EUROPEAN DIRECTIVE DEREGULATING SPECIFIED QUANTITIES (FIXED PACK SIZES)
Page 1 of 9 Version 1 January 2009 GUIDANCE NOTE ON UK IMPLEMENTATION OF A EUROPEAN DIRECTIVE DEREGULATING SPECIFIED QUANTITIES (FIXED PACK SIZES) Introduction 1. This guidance has been produced by the
More informationWine On-Premise UK 2018
Wine On-Premise UK 2018 T H E M E N U Introduction... Page 5 The UK s Best On-Premise Distributors... Page 7 The UK s Most Listed Wine Brands... Page 17 The Big Picture... Page 26 The Style Mix... Page
More informationPhoto courtesy of Highways England Take a break Road users views about roadside facilities July 2016
Photo courtesy of Highways England Take a break Road users views about roadside facilities July 2016 Take a break Road users views about roadside facilities Foreword Jeff Halliwell For road users making
More informationPresented by: Paul Tuan Lawrence Keung Cathine Lam Lanna Zhou Ho Sum Wong Kento Matayoshi Tiffany Cheung Tommy Zhou Kathy Nguyen Vincent Luo
Presented by: Paul Tuan Lawrence Keung Cathine Lam Lanna Zhou Ho Sum Wong Kento Matayoshi Tiffany Cheung Tommy Zhou Kathy Nguyen Vincent Luo Agenda Overview: Starbucks The Story Logistics Interviews and
More informationTHE ECONOMIC IMPACT OF BEER TOURISM IN KENT COUNTY, MICHIGAN
THE ECONOMIC IMPACT OF BEER TOURISM IN KENT COUNTY, MICHIGAN Dan Giedeman, Ph.D., Paul Isely, Ph.D., and Gerry Simons, Ph.D. 10/8/2015 THE ECONOMIC IMPACT OF BEER TOURISM IN KENT COUNTY, MICHIGAN EXECUTIVE
More informationThe state of the European GI wines sector: a comparative analysis of performance
The state of the European GI wines sector: a comparative analysis of performance Special Report November 2017 1. Overview of a growing global wine market Wine is one of the most globalised products. The
More informationRestaurant chains to drive growth through nontraditional locations
Restaurant chains to drive growth through nontraditional locations Checkers Drive-In, Fazoli s and Huddle House are partnering with retailers, convenience stores and travel centers Mark Brandau Jan. 2,
More informationFHRS FREQUENTLY ASKED QUESTIONS
FHRS FREQUENTLY ASKED QUESTIONS What is the food hygiene rating scheme for? The scheme provides information on food hygiene to help you choose where to eat out or shop for food by giving you information
More informationKOREA MARKET REPORT: FRUIT AND VEGETABLES
KOREA MARKET REPORT: FRUIT AND VEGETABLES 주한뉴질랜드대사관 NEW ZEALAND EMBASSY SEOUL DECEMBER 2016 Page 2 of 6 Note for readers This report has been produced by MFAT and NZTE staff of the New Zealand Embassy
More informationTechnical Memorandum: Economic Impact of the Tutankhamun and the Golden Age of the Pharoahs Exhibition
Technical Memorandum: Economic Impact of the Tutankhamun and the Golden Age of the Pharoahs Exhibition Prepared for: The Franklin Institute Science Museum Prepared by: Urban Partners November 2007 Economic
More informationAgenda. Peet s and Market Opportunity Our Growth Strategy and Focus Future Outlook
January 2011 Legal Disclaimer These slides accompany an oral presentation by Peet s Coffee & Tea, which contains forward-looking statements. The Company s actual results may differ materially from those
More informationKiosk Franchise Model
Kiosk Franchise Model 1 www.betweenroundsbagels.com Jerry Puiia President Between Rounds Franchise Corp. 860-291-0323 Jerry@ Betweenroundsbagels.com May 2017 FINALLY 2 An alternative to traditional convenience
More informationBRIQUTTE SECTOR IN KENYA. Briquettes have been produced on a small scale in Kenya since the 1970 s.
BRIQUTTE SECTOR IN KENYA Briquettes have been produced on a small scale in Kenya since the 1970 s. However, they are not used widely because of the cultural preference for charcoal and lack of cooking
More informationGlobal Dissolving Pulp Market Outlook China
Global Dissolving Pulp Market Outlook China RISI Asian Conference May 2017 Rod Young Chief Economic Advisor China Is The Driving Force Behind Dissolving Pulp Demand Viscose fibers lead the development
More informationThe Columbian Exchange and Global Trade
GUIDED READING The Columbian Exchange and Global Trade A. Analyzing Causes and Recognizing Effects As you read this section, note some cause-and-effect relationships relating to the European colonization
More informationASIA FRANCHISE BUSINESS UNIT (FBU) Siddharth Varma, Managing Director
ASIA FRANCHISE BUSINESS UNIT (FBU) Siddharth Varma, Managing Director Yum! Asia FBU: Partnering For Growth China = 3,900 units Thailand = 480 units Asia FBU = 4,500+ units Asia FBU Asia FBU: Collection
More information2004 Grape Juice Concentrate Summary Report and Future Projections
2004 Grape Juice Concentrate Summary Report and Future Projections A paradigm shift in business philosophy is upon us. Greg MaGill Joseph W. Ciatti Co., LLC Specialist in Sales and Marketing of: Fruit
More informationTOURIST SPECIAL INTEREST WINE TOURISM NEW ZEALAND FEBRUARY 2014
Tourists NEW ZEALAND FEBRUARY 214 INTRODUCING WINE TOURISM This report provides an overview of tourists that visit wineries as an activity during their visit to New Zealand. The report includes trends
More informationFACT SHEET MOLASSES FOR BIOENERGY AND BIO-BASED PRODUCTS
FACT SHEET MOLASSES FOR BIOENERGY AND BIO-BASED PRODUCTS Brussels, 27 September 2017 WHAT IS MOLASSES? Molasses is a thick, sweet syrup obtained during the manufacture of beet or cane sugar. Molasses contains
More informationCHINA'S ANTIDUMPING INVESTIGATIONS AGAINST CELLULOSE PULP By Michael Stone
CHINA'S ANTIDUMPING INVESTIGATIONS AGAINST CELLULOSE PULP By Michael Stone A. Introduction In February 2013, the Chinese government announced that it would be conducting an antidumping duty investigation
More informationECONOMIC IMPACT OF LEGALIZING RETAIL ALCOHOL SALES IN BENTON COUNTY. Produced for: Keep Dollars in Benton County
ECONOMIC IMPACT OF LEGALIZING RETAIL ALCOHOL SALES IN BENTON COUNTY Produced for: Keep Dollars in Benton County Willard J. Walker Hall 545 Sam M. Walton College of Business 1 University of Arkansas Fayetteville,
More informationJason McNally. 21 st of April 2009
Coffee & Food On the Go How to maximise your Profits! Jason McNally Dubai 21 st of April 2009 Agenda Cafe Culture Convenience Retailing Coffee to Go Simply Coffee Food to Go Summary Questions COFFEE &
More informationCustomer Focused, Science Driven, Results Led
Navigating allergen claims, labelling requirements and what they actually mean for manufacturers Simon Flanagan Senior Consultant Food Safety and Allergens Customer Focused, Science Driven, Results Led
More informationAs Serious a Threat as HLB: The Collapsing Orange Juice Market
As Serious a Threat as HLB: The Collapsing Orange Juice Market Allen Morris University of Florida, IFAS, Citrus Research and Education Center ramorris@crec.ifas.ufl.edu Indian River Citrus Show, Fort Pierce,
More informationLIVE WHAT YOU LOVE LIKE US!
BRAND PRESENTATION LIVE WHAT YOU LOVE JUST LIKE US! HOW IT STARTED In 2000, as two students of the Prague University of Economics we traveled to the United States to gain real life experience. We worked
More informationChina: Opportunities & Challenges for Produce from South America. Mabel Zhuang Director, M.Z. Marketing Communications PMA China Consultant
China: Opportunities & Challenges for Produce from South America Mabel Zhuang Director, M.Z. Marketing Communications PMA China Consultant Agenda A Little Background: China s Economy Overview Setting the
More informationOPPORTUNITIES FOR SRI LANKAN VIRGIN COCONUT OIL IN TURKEY
OPPORTUNITIES FOR SRI LANKAN VIRGIN COCONUT OIL IN TURKEY Prepared by: Embassy of Sri Lanka, Turkey June 2017 CONTENTS 1. SUMMARY... 3 2. MARKET DESCRIPTION... 3 3. POSITION OF SRI LANKAN VIRGIN COCONUT
More informationIs Your Restaurant Ready for the Growing Online Ordering Trend?
Is Your Restaurant Ready for the Growing Online Ordering Trend? Are you looking for a new way to grow your restaurant business? Consider online ordering. According to QSR Web, digital ordering is growing
More informationBIS Foodservice offers an integrated data and research solution in the foodservice market
BIS Foodservice offers an integrated data and research solution in the foodservice market Syndicated Multi-Client Studies Private Research Projects Foodservice Omnibus Consultancy BIS Foodservice has provided
More informationCASHEW SNACKS Introduction Market Packaging Production capacity Sales revenue
CASHEW SNACKS 1. Introduction Cashew kernels find a variety of uses in the daily cuisine of every Indian household. However, the processed kernels are consumed as snacks, offered at parties, and served
More informationHomer ORGANIZATION bill analysis 5/6/2003 (CSHB 2593 by Eissler) Consumption of wine for sale at wineries
HOUSE HB 2593 RESEARCH Homer ORGANIZATION bill analysis 5/6/2003 (CSHB 2593 by Eissler) SUBJECT: COMMITTEE: VOTE: Consumption of wine for sale at wineries Licensing and Administrative Procedures committee
More informationABN Australian Vintage Limited Full Year Result to 30 June 2018 Profit up 79% and Record Cash Flow
ABN 78 052 179 932 Company Announcements Australian Securities Exchange 29 August 2018 Key Points Australian Vintage Limited Full Year Result to 30 June 2018 Profit up 79% and Record Cash Flow Net Profit
More informationWelcome to Coffee Planet
Welcome to Coffee Planet At Coffee Planet we roast our 100% Arabica specialty coffee in our own roastery on the Arabian Peninsula; where Arabica roasting began over 500 years ago. The combination of this
More information