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An overview of the theory of Microeconomics (consumer behaviour and market structures) in fast food marketing

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  • Emmanuel Selase Asamoah
  • Miloslava Chovancová

Abstract

This paper provides an overview of the application of microeconomic theories in fast food marketing. The aim is to bring out the interrelationship between marketing and microeconomics with respect to the fast food industry. The paper examines some conceptual and theoretical tools that will enhance the marketing practices of managers in the fast food industry. Hence, the marketing aspects of international fast food firms are analyzed within the framework of the concept of consumer behaviour and monopolistic market structures. The paper further analyzes the market structures and its implications on the profit, cost and revenue of fast food firms. The concluding part of this paper brings out the marketing implications of the theory of consumer behaviour and market structures and also describes the strategies that firms in a monopolistic market can use to increase their bottom line, become competitive and increase their market share.

Suggested Citation

  • Emmanuel Selase Asamoah & Miloslava Chovancová, 2011. "An overview of the theory of Microeconomics (consumer behaviour and market structures) in fast food marketing," Ekonomika a Management, Prague University of Economics and Business, vol. 2011(1).
    • Handle: RePEc:prg:jnleam:v:2011:y:2011:i:1:id:127
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    References listed on IDEAS

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    1. Hoch, Stephen J & Loewenstein, George F, 1991. "Time-Inconsistent Preferences and Consumer Self-Control," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 17(4), pages 492-507, March.
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    5. Tapan Biswas, 2012. "The Marshallian Consumer," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 4(1), pages 165-174, June.
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    More about this item

    Keywords

    marketing; fast food; market structures; consumer behaviour;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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