advertising and the price of eyeglasses

Project Description:

5-7 page report on: this case addresses a question about whether society is wasting the resources devoted to advertising. does advertising serve a valuable purpose, or is it just a way that business firms manipulate people’s tastes? is advertising more psychological than informational?

use the breakfast cereal frosted flakes as the topic for your response to the following questions. provide specific examples to support your answers.
•how is it possible for kellog’s to offer frosted flakes for prices ranging from $3.50 to $4.00 per box, when competitors such as general mills and ralston’s sell the same-sized box in the range of $2.10 to $2.50?
•is a frosted flake a frosted flake, or do real product differences exist?
•does a registered trademark such as tony the tiger really add any informational value to the product, or is it more psychological in nature? is this type of advertising the primary basis for such price differences of frosted flake brands?
•does one of the brand names that is more advertised denote a better quality of frosted flake for any reason?
•how does branding and advertising fit into the overall market structure of monopolistic competition? if your employer fits into the market structure of monopolistic competition, why (or why not) does your company advertise
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