Pricing Strategies Free Essays

Penetration Pricing Price set to ‘penetrate the market’ ‘Low’ price to secure high volumes Typical in mass market products – chocolate bars, food stuffs, household goods, etc. Suitable for products with long anticipated life cycles May be useful if launching into a new market Market Skimming High price, Low volumes Skim the profit from the market Suitable for products that have short life cycles or which will face competition at some point in the future (e.g. We will write a custom essay sample on Pricing Strategies or any similar topic only for you Order Now after a patent runs out) Examples include: Playstation, jewellery, digital technology, new DVDs, etc. Value Pricing Price set in accordance with customer perceptions about the value of the product/service Examples include status products/exclusive products Loss Leader Goods/services deliberately sold below cost to encourage sales elsewhere Typical in supermarkets, e.g. at Christmas, selling bottles of gin at  £3 in the hope that people will be attracted to the store and buy other things Purchases of other items more than covers ‘loss’ on item sold e.g. ‘Free’ mobile phone when taking on contract package Psychological Pricing Used to play on consumer perceptions Classic example –  £9.99 instead of  £10.99! Links with value pricing – high value goods priced according to what consumers THINK should be the price Going Rate (Price Leadership) In case of price leader, rivals have difficulty in competing on price – too high and they lose market share, too low and the price leader would match price and force smaller rival out of market May follow pricing leads of rivals especially where those rivals have a clear dominance of market share Where competition is limited, ‘going rate’ pricing may be applicable – banks, petrol, supermarkets, electrical goods – find very similar prices in all outlets Tender Pricing Many contracts awarded on a tender basis Firm (or firms) submit their price for carrying out the work Purchaser then chooses which represents best value Mostly done in secret Price Discrimination Charging a different price for the same good/service in different markets Requires each market to be impenetrable Requires different price elasticity of demand in each market Destroyer/Predatory Pricing Deliberate price cutting or offer of ‘free gifts/products’ to force rivals (normally smaller and weaker) out of business or prevent new entrants Anti-competitive and illegal if it can be proved Absorption/Full Cost Pricing Full Cost Pricing – attempting to set price to cover both fixed and variable costs Absorption Cost Pricing – Price set to ‘absorb’ some of the fixed costs of production Marginal Cost Pricing Marginal cost – the cost of producing ONE extra or ONE fewer item of production MC pricing – allows flexibility Particularly relevant in transport where fixed costs may be relatively high Allows variable pricing structure – e.g. on a flight from London to New York – providing the cost of the extra passenger is covered, the price could be  varied a good deal to attract customers and fill the aircraft Contribution Pricing Contribution = Selling Price – Variable (direct costs) Prices set to ensure coverage of variable costs and a ‘contribution’ to the fixed costs Similar in principle to marginal cost pricing Break-even analysis might be useful in such circumstances Target Pricing Setting price to ‘target’ a specified profit level Estimates of the cost and potential revenue at different prices, and thus the break-even have to be made, to determine the mark-up Mark-up = Profit/Cost x 100 Cost-Plus Pricing Calculation of the average cost (AC) plus a mark up AC = Total Cost/Output Influence of Elasticity Any pricing decision must be mindful of the impact of price elasticity The degree of price elasticity impacts on the level of sales and hence revenue Elasticity focuses on proportionate (percentage) changes PED = % Change in Quantity demanded/% Change in Price Price Inelastic: % change in Q % change in P e.g. a 5% increase in price would be met by a fall in sales of something less than 5% Revenue would rise A 7% reduction in price would lead to a rise in sales of something less than 7% Revenue would fall Price Elastic: % change in quantity demanded % change in price e.g. A 4% rise in price would lead to sales falling by something more than 4% Revenue would fall A 9% fall in price would lead to a rise in sales of something more than 9% Revenue would rise How to cite Pricing Strategies, Papers

Wto Summary Essay Example For Students

Wto Summary Essay The courage and dedication that was displayed by the protestors in the video was what I took to heart. It was something else to see a group of people come together to protest something that they believed so strongly despite being pepper sprayed, shot at with rubber bullets, and thrown into jail†¦..But why would anyone go to these lengths to protest against an organization?The World Trade Organization was created in Jan. 1 1995 and has 140 member countries. According to their official website www.wto.org the organizations main purpose is to, â€Å"help trade flow as freely as possible-so long as there are no undesirable side-effects. This partly means removing obstacles.† However the organization isn’t a democratic organization. Instead the WTO rules are written by and for corporations with inside access to the negotiations. Citizen input by consumer, environmental, human rights and labor organizations is consistently ignored as WTO meetings are held in secret. Acco rding to the video, out of the 100 largest economies in the world, 51 are corporations and only 49 are countries. As a result it is no wonder why so many came to protest this secret meeting held in Seattle, WA. According to the video many protestors argued that the WTO and its motto of free world trade is stomping over labor and human rights in countries throughout the world as the use of cheap labor and child labor are continually ignored by the WTO. The magazine Global Exchange states that the WTO is blocking human rights abuses since they have ruled that, â€Å"1) It is illegal for a government to ban a product base on the way it is produced and 2) Governments cannot take into account the behavior of companies that do business with vicious dictatorships such as Burma.†The protestors in the video also felt that the WTO was destroying the environment. Evidence of this, dates back to 1993 when according to the Global Exchange , â€Å"The very first WTO panel ruled that a regulation of the US Clean Air Act, which required both domestic and foreign producers alike to produce cleaner gasoline, was illegal. Recently, the WTO declared illegal a provision of the Endangered Species Act tha t requires shrimp in the US to be caught with an inexpensive device that allows endangered sea turtles to escape, and the WTO is currently negotiating an agreement that would eliminate tariffs on wood products, which would increase the demand for timber and escalate deforestation. As a result I believe that these corporations should not be allowed to continue to get away with such actions. The people in Seattle honored their legal right to assemble. The actions taken by the city of Seattle against these protestors were too extreme and I’m still unclear for what reason they took such extreme measures against the protestors. These were peaceful protests and the city freaked out over a few broken windows at corporations such as Starbucks and Nike. In my point of view the steps taken by the city of Seattle was way over the line and its disgusts me that peaceful protestors were thrown into jail for demonstrating a legal right in the constitution. Social Issues

An Overview of the Sunbelt in the U.S.

An Overview of the Sunbelt in the U.S. The Sun Belt is the region in the United States that stretches across the Southern and Southwestern portions of the country from Florida to California. The Sunbelt typically includes the states of Florida, Georgia, South Carolina, Alabama, Mississippi, Louisiana, Texas, New Mexico, Arizona, Nevada, and California. Major U.S. cities placed within the Sun Belt according to every definition include Atlanta, Dallas, Houston, Las Vegas, Los Angeles, Miami, New Orleans, Orlando, and Phoenix. However, some extend the definition of Sun Belt as far north as the cities Denver, Raleigh-Durham, Memphis, Salt Lake City, and San Francisco. Throughout U.S. history, especially after World War II, the Sun Belt saw abundant population growth in these cities as well as many others and has been an important area socially, politically, and economically. History of Sun Belt Growth The term Sun Belt is said to have been coined in 1969 by writer and political analyst Kevin Phillips in his book The Emerging Republican Majority to describe the area of the U.S. that encompassed the region from Florida to California and included industries like oil, military, and aerospace but also many retirement communities. Following Phillips introduction of the term, it became widely used in the 1970s and beyond. Although the term Sun Belt was not used until 1969, growth had been occurring in the southern U.S. since World War II. This is because, at the time, many military manufacturing jobs were moving from the Northeast U.S. (the region known as the Rust Belt) to the South and the West. Growth in the South and West then further continued after the war and later grew substantially near the U.S./Mexico border in the late 1960s when Mexican and other Latin American immigrants began to move north. In the 1970s, Sun Belt became the official term to describe the area and growth continued even further as the U.S. South and West became more important economically than the Northeast. Part of the regions growth was a direct result of increasing agriculture and the earlier green revolution which introduced new farming technologies. In addition, because of the prevalence of agriculture and related jobs in the region, immigration in the area continued to grow as immigrants from neighboring Mexico and other areas were looking for jobs in the U.S. On top of immigration from areas outside the U.S., the Sun Belts population also grew via migration from other parts of the U.S. in the 1970s. This was due to the invention of affordable and effective air conditioning. It additionally involved the movement of retirees from Northern states to the South, especially Florida and Arizona. Air conditioning played an especially significant role in the growth of many Southern cities like those in Arizona where temperatures can sometimes exceed 100 F (37 C). For example, the average temperature in July in Phoenix, Arizona is 90 F (32 C), while it is just over 70 F (21 C) in Minneapolis, Minnesota. Milder winters in the Sun Belt also made the region attractive to retirees as much of it is relatively comfortable year-round and it allows them to escape cold winters. In Minneapolis, the average temperature in January is just over 10 F (-12 C) while in Phoenix it is 55 F (12 C). Additionally, new types of businesses and industries like aerospace, defense and military, and oil moved from the North to the Sun Belt as the region was cheaper and there were fewer labor unions. This further added to the Sun Belts growth and importance economically. Oil, for example, helped Texas grow economically, while military installations drew people, defense industries, and aerospace firms to the desert Southwest and California, and favorable weather led to increased tourism in places like Southern California, Las Vegas, and Florida. By 1990, Sun Belt cities like Los Angeles, San Diego, Phoenix, Dallas, and San Antonio were among the ten largest in the U.S. In addition, because of the Sun Belts relatively high proportion of immigrants in its population, its overall birth rate was higher than the rest of the U.S. Despite this growth, however, the Sun Belt did experience its share of problems in the 1980s and 1990s. For example, the regions economic prosperity has been uneven and at one point 23 out of the 25 largest metropolitan regions with the lowest per capita incomes in the U.S. were in the Sun Belt. In addition, the rapid growth in places like Los Angeles caused various environmental problems, one of the most significant of which was and still is air pollution. The Sun Belt Today Today, growth in the Sun Belt has slowed, but its larger cities still remain as some of the largest and fastest-growing in the U.S. Nevada, for example, is among the nations fastest-growing states due to its high immigration. Between 1990 and 2008, the states population increased by a whopping 216% (from 1,201,833 in 1990 to 2,600,167 in 2008). Also seeing dramatic growth, Arizona saw a population increase of 177% and Utah grew by 159% between 1990 and 2008. The San Francisco Bay Area in California with the major cities of San Francisco, Oakland and San Jose still also remains a growing area, while growth in outlying areas like Nevada has decreased significantly due to nationwide economic problems. With this decrease in growth and outmigration, housing prices in cities like Las Vegas have plummeted in recent years. Despite recent economic problems, the U.S. South and West (the areas that comprise the Sun Belt) still remain the fastest growing regions in the country. Between 2000 and 2008, the number one fastest growing area, the West, saw a population change of 12.1% while the second, the South, saw a change of 11.5%, making the Sun Belt still, as it has been since the 1960s, one of the most important growth regions in the U.S.

buy custom IT Governance essay

buy custom IT Governance essay How does the description of IT governance mechanisms in Public Sector organizations in Australia differ from those presented by Weill and Ross (2004)? IT governance mechanisms in Public Sector organizations in Australia describes the importance of the principles, as well as, lessons of good corporate governance being replicated in the individual IT governance mechanisms laid down for the institution (Ali and Green, 2007). These mechanisms encourage a set of behavior, which encourages behavior that goes hand in hand with the companys mission, values, strategy, and norms (Ali and Green, 2007). On the other hand, Weill and Ross determine that, managers should focus in designing, implementing, and communicating the IT governance processes (Weill Ross, 2005). Furthermore, IT governance incorporates five important decision domains: infrastructure, investment decisions, prioritization, IT principles, infrastructure and business application needs (Weill Ross, 2005). IT governance mechanisms in Public Sector organizations in Australia, cautions the implementation of the above mechanisms; the nature of organizations is essential in showing how effective mechanisms are (Ali and Green, 2007). However, Weill and Ross explain six archetypal approaches applied in IT governance: IT monarchy, business monarchy, feudal, federal, duopoly, and anarchy (Weill Ross, 2005). The two recommend guidance in effective IT governance design. One needs to identify the companys needs for autonomy and synergy, establish the role played by organization structure, pick the desirable IT-related behaviors, and then design IT governance on a single page (Weill Ross, 2005). How does the description of IT governance mechanisms in Public Sector organizations in Australia differ from the claims of the case study material from the COBIT site: Solo Cup Uses COBIT to Develop IT Policies? IT governance mechanisms in Public Sector organizations in Australia describes the importance of the principles, as well as, lessons of good corporate governance being replicated in the individual IT governance mechanisms laid down for the institution (Ali and Green, 2007). These mechanisms encourage a set of behavior, which encourages behavior that goes hand in hand with the companys mission, values, strategy, and norms (Ali and Green, 2007). On the other hand, COBIT stipulates an effective set of guidelines that make sure IT policies show enough coverage of common control objectives. These guidelines also identify control gaps. The control elements have the correct content, depth, as well as breadth that would ensure compliance with the control objective put down by COBIT. IT governance mechanisms in Public Sector organizations in Australia, cautions the implementation of the above mechanisms; the nature of organizations is essential in showing how effective mechanisms are. In its part, the COBIT framework narrowed the process of coming up with a comprehensive set of the policies. Without COBIT, time and energy would have been wasted. Buy custom IT Governance essay

Changing Dialect of Singapore Essay Example | Topics and Well Written Essays - 1500 words

Changing Dialect of Singapore - Essay Example Tan has made it a point to continue to work with the original language of Singapore to keep the memory of the past alive and to embrace the past through the use of speaking. Tan has made an effort with the younger generations to continue to speak in the main language of Malay. â€Å"If we lose our culture through language, then what do we have left? I believe it is important to continue to remember what we speak, where we are from and what the ancient history is of this land,† says Tan. To him, the idea of keeping the language alive is also a part of keeping the memories and heritage and of his world as a part of the everyday lifestyle. For Tan’s children and grand children, understanding the language isn’t one that they rebel against and often find that the extra dialect helps them to stay ahead in their own thinking. â€Å"Even though we learn English in school, we like having the Malay dialect as a part of our upbringing. It makes us feel unique and like we a re truly from Singapore,† says Tan’s grandchild. This attitude is one that many who are able to speak in two dialects carry with them as they progress forward with the understanding of different dialects. The languages of Singapore have undergone changes through every generation, even though they are kept alive through stories such as Tan. English is now recognized as the main language of the land, specifically because of the colonialization that took place in the 1820s by James Cook. However, there is also an influence of Mandarin, Chinese and Indian dialects, all which have come from the several who have migrated to Singapore through time. This is combined with the main dialect of Malay which is spoken by those who are considered as native to the land. The mixture of languages has led to the four main dialects of English, Malay, Chinese and Tamil becoming the main dialects of the island. It is not only the recognition of the four main dialects that influences the dive rsity of Singapore. While it is a small island, the influx of immigration into the land and the philosophies, such as what Tan has, continue to alter the dialects which are spoken in various regions. For instance, the recognition of Mandarin Chinese as a dialect is only one of several ethnic ways of speaking that are in the region. When visiting Singapore, you will note that Hokkien, Teochew, Hakka, Hainanese and Cantonese are also spoken among households. No more than 10 -20% speak these languages and most is recognized in the home; however, the strong traditions keep the dialects such as these strong and alive (Chan, 2009). The alterations of dialect have also led to a creation of mixtures of each of the languages. A combination of English and Malay, for instance, is commonly heard among locals when they are working to converse among others who know more English. This is a common practice of those in the region, specifically with older generations who have not been educated with t he formal applications of English in the nation. The split of languages is known to have occurred specifically with waves of immigration which occurred from the 1800s. The beginning of the Malays and the structure of Singapore as a country was one which was noted as the dominant culture through this time. Ancient beliefs were kept during this time as well as patterns for economic trade and village life. While there were some fluctuations in Arabic and immigrants from other lands, most adapted to the Malay traditions and way of living. It was from the 1800s –

Leadership and entrepreneurship Essay Example | Topics and Well Written Essays - 2250 words

Leadership and entrepreneurship - Essay Example Most of the basic organizational problems such as distorted structural design, poor morale of managers and employees, communication gaps, resistance to change, inefficient controls, iniquitous salary structure, scarcity of resources, incompatibility with external environment and so on are attributed to poor leadership. Entrepreneurship on the hand, which is derived from the French word â€Å"entrprende†, as defined by the famous economist Adam Smith as, â€Å"the economic agents who transform demand into supply for profits†. One of the definitions of the term, includes, the founding of an enterprise which apparently includes all those associated with it such as the decision makers, the stakeholders and the initiators of business or a business idea. In conclusion, entrepreneurs are leaders who develop and grow enterprises. (Stephen Robins, 2004) Bill Gates or McDonald could well be considered as entrepreneurs due to their sheer vision and dedication of converting a business idea into a profitable and economically viable business option. The size of the business rarely affects the leadership qualities. For example, a leader of a national or international enterprise / organization, commands wide – spread influence over a large number of people while the influence of the leader of a small work group in an organization is relatively limited in scope. However this does not affect the fact that they leaders in their own right and fulfill all the duties and responsibilities of an entrepreneur. In a formal organizational setting, a leader enjoys a position of command and exercise power over their subordinates in order to get the work done and achieve the entrepreneurial goals laid down by the organization. The larger the group the greater the difficulties in exercising control over their subordinates. In such a situation, the leadership roles are often distributed among the subordinates, chosen

Catcher in the Rye by J.D. Salinger Research Paper

Catcher in the Rye by J.D. Salinger - Research Paper Example Salinger paid a great attention to the factors of personality formation. The novel â€Å"The Catcher in the Rye† is considered to be Bible for many generations. Nowadays this work can seem even to be naive but at the previous century it was sensation which caused a great wave of different emotions and was officially censored. Very often reading a book the readers try to guess the content from the very beginning judging from the title. Some authors give the mysterious titles to their works in order do some kind of riddle. Into the title of his novel Salinger placed the whole philosophy, symbolism which was an integral part of the novel. This gives an excellent opportunity to the reader to interpret the novel in their own manner and discourse. The main point of this novel is that everyone can see themselves in this work. The features of the main character are sincere and impress with their honest depicting. Though it should be mentioned that this novel is not about a lazy young man who is so simple and easy from the first sight but the author calls the reader o look deep inside the complicated mechanism if Holden’s soul. The character is opening step by step, every page of the novel helps to understand the character. Salinger wants to tell everything about his hero. The psychological portrait of Salinger’s hero is contradictory and complex. The behavior of Holden often makes an impression of a painful start. He is not just shy, touchy, and sometimes not polite, like almost everyone is prone to introspection, teenager of so-called introverted type. As it is evident from the confessions of the hero of the novel, and from the details Holden is childish for his age â€Å"unwillingness to resemble the adults in Holden's first emotionally more than consciously, feeling ahead of his mind and he's ready to be finished in one fell swoop with their offenders among which not everyone deserve a severe sentence†. However, on the other hand the youn g minimalism of Holden Caulfield is understandable thirst for justice and transparency in human relations. The fact that most depresses Holden and what he judges is quite "grown-up" is the feeling of hopelessness, impending doom of all his attempts to arrange his life in this world. Peering into the future, he sees nothing, except the gray routine that has become the lot of the vast majority of his countrymen. Salinger's hero fails to interest Sally enough, however, who does not really believe in life in the hut by the stream (Slawenski, 2011). Formulaic Hollywood movies with the triumph of virtue and indispensable quirks in the final scenes cause attack of revulsion in Holden’s mind. Holden lives in the cruel soulless world, which like a machine tends either to break their victim, or reshape them into their own image. Holden is endowed with "absolute moral hearing" - he immediately discerns hypocrisy, and his hypersensitivity is a special kind of radar that catches it, and t hen quietly passes by other history of American literature. This is his youthful impatience and attracts the readers' hearts. Not surprisingly, Holden eagerly looking for at least some outlet craves human warmth, involvement and understanding. So the question arises, what he wants, as he thinks in about the future, the question is even more important because we know very well