You are a business manager for Coca Cola and some new competitive soft drinks are being introduced with great customer acceptance.

a. Explain to your boss the fast second strategy.

b. Explain why and how Coke would use the fast second strategy to increase its economic profit i. Discuss the why ii. Discuss the how iii. List and discuss 2 examples.

c. 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 how 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.