TMMBA Week in the Life: Day 4

Radu Mocanita, TMMBA Student, Class of 2015

Hi and welcome to the 4th day of the week. Hang on in there, we’re making progress. If you reached so far and you’re still reading, it means you’re really interested in this program! 🙂 So stay tuned, you’ll learn a lot from this blog. I’ve read it myself before finally deciding to make the step.

Thursday is the review session day. Every week, from 6 to 8, two teacher assistants will have a one hour session each to go through the last class’ topics. I can’t tell you how useful these are when you’re struggling with the concepts and need some help. You can either join in person, at East Side Executive Center or online. I usually prefer the online session as I have enough of EEC 2.5 times a week. Don’t get me wrong, it’s a nice facility but home is nicer :). The downside of participating online is that you can’t ask questions. But we’re smart, creative people and we find workarounds, like texting or emailing your question to somebody who is there in person.

I need to tell you how amazing some of these classes are and how they make you change you perspective on the things around you. You might think that you’re old or that you graduated in a different era. Well, while that might be true, don’t think that you can’t do it and can’t absorb any more knowledge. This quarter Microeconomics was my favorite class. Even though I already had a micro course in my undergrad, it was no match to this one. The cases and the real-world applications of the concepts were eye-opening for me, I had a great time studying.

In the last two chapters, for example, we did Game Theory and Price Discrimination techniques. Now I understand what’s the deal with price matching or sale price guarantees. I always wondered what’s the incentive for big stores to do it as it seemed to be too nice of them to do that only for the sake of making a customer happy. While that is also a reason, these are actually tricks which facilitate price cooperation between competitors in oligopoly markets.

Ok, enough microeconomics for tonight. One more day and the weekend comes. Should I be happy? Well, it depends whether I have a class on Saturday or not :). Thank you for your attention and have a good night.

Radu

11 gânduri despre &8222;TMMBA Week in the Life: Day 4&8221;

  1. hmm … „price matching” . .eu mereu am crezut ca e mai mult o chestie de fidelizare decat altceva.
    Poti sa detaliezi putin pe „price cooperation between competitors ” 😀 ? practic sa se poata face usor schimbari mari de preturi fara sa se considere ca se face monopol? sau ? nu ma prind 100% 🙂

    1. paaai, sa-ti explic, tine-te bine.

      Deci in oligopoly firmele sunt interdependente si ele stiu asta. Fiecare stie ca este dependend de pretul pe care il pune ala de langa – daca ala scade si asta tre sa scada ca altfel pierde din vanzari, si tot asa. Si cum e ilegal sa se stranga la o masa si sa-si faca cartel, sa zica:”nene nimeni nu mai vinde sub $10 ca sa facem profit”, atunci firmele isi dau una alteia „sugestii” cum ca sunt interesate sa faca price cooperation – care practic zic ca nici una nu mai scade pretul. Dar isi dau sugesttile astea intr-un mod legal.

      Si anume, sale price guarantee este cand, daca tu cumperi azi un TV cu $1000 iar apoi el se ieftineste in 20 zile te intorci la magazin si iti da diferenta fata de pretul cu care l-ai luat tu. Din cauza ca este mult mai scump pentru firma sa scada pretul (ca pierde si la ce vinde de azi inainte si si la ce a vandut in ultimele 30 zile) asta este un commitment public pe care firma il face ca sa le arate competitorilor ca este less likely sa faca reducere de pret.

      Price matching este ca sa le arate competitorilor ca daca scad pretul nu rezolva mare lucru, ca si ei ofera price match. Si in cazul asta nu e nici o garantie ca competitorul va castiga din volum de vanzari ci mai degraba e mai sigur ca toti vor pierde – ca nu mai e price cooperation, toti vand acu mai ieftin da’ cererea e la fel. Face sens? 🙂

        1. bun asa, ma bucur, MI-era ca m-ai pus sa scriu taimai explicatia si nu te mai intorci sa citesti ca te cautam pe mail :))

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