BUS305, Competitive Analysis and Business Cycles Mod 3 Case Assignment Essay

BUS305, Competitive Analysis and Business Cycles Mod 3 Case Assignment - Essay Example mage advertising or institutional advertising designed to create public awareness of the citrus industry and to improve its reputation in the marketplace. Because this task is being undertaken by the Department from a tax paid by citrus growers on each box of citrus that moves through commercial channels, there is no need for individual citrus growers and merchants to advertise independently. According to the website, over 80 percent of the Departments annual budget of approximately 58 million dollars is spent on advertising and promotional activities for Florida citrus in the United States, Canada, Europe and Asia. In this sense, then the Department acts as if it were a single corporate entity with numerous divisions or subsidiaries providing homogeneous products. In terms of demand and supply, the purpose of the Department is to regulate and apply standards of production and quality to meet domestic and international demand for Florida grapefruit. It also serves to promote the product through promotions and advertising, as well as to manage issues that arise. The citrus industry of state acts as if it were one single corporate entity managed by the executives of FDOC. In so doing it will seek to gain the best market share possible and endeavor to improve it over the long haul. By competing in the market for the product with other suppliers, the Florida citrus industry through the FDOC seeks to provide the quantity and quality of the agricultural product in the market at competitive prices. According to the Economics Dictionary, the Organization of Petroleum Exporting Countries is an organization of about a dozen nations that sell oil to other nations. It was formed in the early 1960s but had little impact until the oil crisis in 1973. The goal or purpose of OPEC, an international cartel, is to control the production of oil and to establish favorable oil prices for the member nations. Most OPEC countries, such as Libya and Saudi Arabia, are in the Middle