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The note introduces the behavioral or psychological aspects of consumer price acceptance. Begins by reviewing the traditional economic approach to product pricing and consumer price acceptance--namely, that consumers should be willing to purchase anytime a product's perceived value exceeds price. This purely economic approach questioned, and the concept of transaction "fairness" is introduced as an additional component of consumer price acceptance. Through paired vignettes, the behavioral side to product pricing is explored in some detail. In the end, the traditional economic perspective on product pricing is combined with the behavioral or psychological perspective to provide a more realistic understanding of how consumers respond to a firm's pricing decisions.

After booming in 1997 and early 1998, the offshore drilling industry slumps in late 1998 and early 1999. Lower oil prices lead oil companies to reduce drilling budgets, and rig utilization falls from essentially 100% to 70% in some markets. Day rates--the prices paid for a rig's services--fall by as much as 75%. The case illustrates how supply and demand work together to determine prices and utilization in the short run, as well as how long-run supply is determined in an industry where capacity additions take several years. Also describes the industry's move toward "turnkey" contracts, in which drilling contractors provide a complete bundle of drilling services, and how advances in deep-water drilling technology are changing industry structure.

After reaching all-time highs in excess of $2,500 per ton in 1988 and 1989, aluminum prices fall dramatically in the early 1990s as the former Soviet Union begins exporting far larger quantities of metal. By the beginning of 1994, the price has hit all-time lows (in real terms) and stands at $1,110. The case contains data on world consumption by sector; an accompanying spreadsheet contains detailed cost data for the world's 157 smelters. Together, these allow a thorough supply and demand analysis that illuminates price fluctuations in this industry. A rewritten version of an earlier note.

Arriving in greater numbers to poverty-ridden cities throughout Latin America, international executives, by their increased visibility, become targets. Newspapers have been filled with stories of kidnappings, abduction and robbery of foreign business people. However, in many respects, Latin America posed no greater danger than the United States, and with proper preparation, risks can be managed. This note briefly presents the current security risks, and actions that can be taken by international firms and individuals to reduce these risks. Comparative statistics are also provided.

Describes a methodology for identifying markets for new technologies and for defining the highest value attributes of new products or services. It helps innovators escape the trap of incremental improvements to established product concepts by asking a straightforward question: What job did my customer expect this product to do for him or her?

The Caspian region may become one of the world's next major energy producers. Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan-all former Soviet republics--hold vast and largely undeveloped reserves of oil and gas, but the region's export infrastructure is nearly nonexistent. The Note provides background on Azerbaijan and Kazakhstan-the region's major oil producers-including economic and oil sector data. Also in A, it discusses major options to the surrounding region; B. Covering the advantages and weaknesses of each of the options.

Summarizes the core ideas about the microeconomics of markets that are most relevant to business strategy. Sections I and II develop two basic building blocks of any market, demand and supply. Section II discusses how demand and supply interact to determine the quantity of goods traded in a market and the price paid for those goods, with special attention to the way that external events influence the quantity traded and the price paid. Section IV presents the important benchmark of "perfect competition," in which equally matched firms compete so vigorously and market entry is so easy that no firm earns more than its cost of capital. Section V explores the ways that real markets depart form perfect competition. These departures lie at the heart of long-run profitability.

Outlines the role of interactive technologies in the development of relationship marketing strategies.

Presents a model or theory about the competence or capability of organizations. Written to help managers be more precise about what the capabilities and disabilities of an organization are, and to be able to put their finger precisely on the place in the organization where capabilities and disabilities reside.

Outlines some of the ways network technology is changing the role of intermediaries in the market.

Describes the perceptual mapping techniques in a non-technical fashion. The procedure is useful for the depiction of the structure of the market. Discusses alternative methods, presents examples of each, and shows how the maps can be used in marketing decision making.

Presents a non-traditional description of the conjoint analysis methodology. Discusses the process by which a study is done and cites areas of application.

A review of the use and effectiveness of financial incentives in changing physician behavior.

Examines activities of offshore financial centers. The text documents the growth and uses of offshore corporations.

Describes the major communication vehicles and the process via which they can be brought together in an integrated marketing communications plan.

This note provides an overview of business valuation techniques. The discounted cash flow method is described in a simple six-step process. A numerical example is also provided. Other valuation methods are briefly discussed, including the price-earnings approach, break-up value, and an acquisition premium approach. This note is ideally suited for an executive audience. (A more in-depth note in this area can be found in A Note on Mergers and Acquisitions and Valuation, case number 9A95B023.)

Introduces the concepts and issues related to Enterprise Resource Planning (ERP) technology. Begins with a stylized example of ERP in action. Aa brief history of the ERP industry is provided, with reference to major events and players. Additional case examples of successful and unsuccessful implementations are offered to enhance students' understanding of the impact ERP can have on the organization and to illuminate ERP issues.

Explores the location of the somewhat imprecise line between debt and equity. Identifies the primary business contexts that give rise to problems, the alternative tax consequences attending the debt versus equity determination, and the most prominent tests used to resolve the questions. Deals with corporate debt paying a market rate of interest and issued at par or close to it.

A synopsis of the writings of Edgar Schein, Modesto Maidique, and B.J. Zirger on what organizational culture is, where it comes from, how it can be changed, and how it inhibits change.

It is argued that professionals pledge fiduciary responsibility towards their clients to minimize the occurrence of conflicts of interest, which are socially inefficient. Professional associations are formed to ensure that in their practices, professionals live by their professional pledges.