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In the market for medications, there is a difference in demand for medications that are under patent, medications that have a strong name brand, and medications that are generics. Discuss the differences in demand for these three different types of medications. Be sure to discuss these differences using the concepts of price elasticity of demand, cross price elasticity of demand and income elasticity of demand.

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Doug is a UNA senior studying marketing. He just attended a job fair where he made a very positive impression on the Human Resource Officer at Alcoa Aluminum. He has been invited to his first interview for a job as a Sales Service Trainee. He arrives at the interview on time with his new Dillard’s suit. He feels a little uncomfortable about not really preparing for the interview. He had spent his time studying for Dr. Armstrong’s product test.

Kelly has just graduated with her marketing degree from UNA. She has interviewed with two firms so far without very much luck. However, she has great hopes for this interview. The job ad reads, We are looking for a marketing manager to help create new markets and improve our current products. We are looking for combination of experience and education in a graduate who can help us develop new marketing programs.

question 1: Read the case study titled “JC Penney Is Changing Its Competitive Strategy” and write a one to two paragraph summary of the case.