Explain to your boss how Coke can use the protection provided by patents, copyri

Question

Explain to your boss how Coke can use the protection provided by patents, copyrights, and trademarks to increase their economic profits.
i.   Discuss what each of the 3 protections apply to, and
ii. Discuss how each will help a firm achieve economic profits.
d.   Explain to your boss how Coke can use their Brand to increase their economic profits.
i.   Discuss the following and each can be used to increase a firms economic profit:
1.   Brand-name recognition
2.   Brand equity
3.   Brand promise
4.   Brand personality
e.   Explain to your boss how technological advance increases productive efficiency and allocative efficiency.
i.   Discuss the impact of technological advancements on productive and allocative efficiency.

Explanation / Answer

1) Answer:

TO understand how these three are going to affect the incremental in the profit, we need to uinderstand what actually they are consist of . One by opne we will unfold the meaning, implication and impacts of these three. Lets understand how these three works first.

1. Copyright - Copyright inculcates with the collection of the rights that a product and service have. These rights can be anything that makes a list of the capability of the product. For example- ability to perform in the public, ability to display teh respective product. All these copyrights will works once they are accomplished with the licensing process.It protects the interest of the product or the service for a longer period of the time.

2. Patent - Simply, Patent protects innovantion,. If any new product is introduced we will cover the performance of the same via Patent.  These inventions can include new and useful processes, machines, manufactures, compositions of matter as well as improvements to these. They also gives a cover for a longer period of time.

3. Trademark is something that helps to understand the difference in product from the other. These are the outer sides of the products or services that are rendered. It can be the symbol, phrase, slogans, logo, etc. A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others.

So now we had already discussed the differentrilas, lets discuss these implication as how these three will impact the economicprofits for Coke.If we tak about Coke, and its branding there are various factors to be considered.

1. Cost effectiveness

2. Pricing of the product

3. Market Focus

4. Advertising expenses

Talking about Copyrights when COKE is having the right to sell the black sweet carbonated soft drink.After a qualifying survey we will get to know our customers , market and the taste of the consumers and we will keep our rights like that so we can grow in that particular market with those partricular ingredients

Then we will set up a trademark like wise that will allow a new market to be captured. A sufficient trademsrk will definilty help yus to raise the profits as this isthe attractive point of any good. By looking at that or listening to that phrase will help a consumer to be followed. There are two wayas of creating market, one is to research on the taste of the market or to create a market by giving them soemthing new. Certainly we can increase the level of the profits by attracting consumers to the product which will result in sales of the product automatically increase in the profits.

These three protects the interest of Coke as when these three are implied properly, then there will be no other competitor who can use such technique for preparing that drink or use such phrase to enter into the market as they are legal binding by laws.

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.