Wednesday, November 27, 2019

Cost-based and Competitive -based pricing Essays

Cost-based and Competitive -based pricing Essays Cost-based and Competitive -based pricing Essay Cost-based and Competitive -based pricing Essay When deciding which of the two methods will be more effective in our working field we took into consideration the advantages and disadvantages of the two methods. We have decided that the market in these days is too risky to use cost-based pricing for our product because it is hard to predict what is going to be the reaction of the purchasers and also we do not know how well the product is going to be sold. In case we fail to sell the predicted amount of our watches we will be forced to increase the price in order to save our company from bankruptcy . To sum it all up there are too many disadvantages in the usage of cost-based pricing. On the other hand such is not the case of competitive based pricing where disadvantages are fewer and risks not so dangerous. We have decided that the only risk when choosing this path is that if we set a price slightly higher than the production cost and the rival brands keep their share of the market we are surely going to bankrupt. Also competitive-based pricing offers a wide variety of sub-methods which can lead to higher profits. In this type of method we are closely observing the competition the quality of their products, prices they set and their ability to survive in a continuous price war and the introduction of a rival brand. We are not going to use a method of high pricing in order to imply that our product is very unique because there are too many illustrious competitors and it is going to be close to impossible to take over even a small share of the market while offering prices as high as theirs. Our company is also against the policy of using predatory pricing. That is a very incompatible method for our brand of watches it is illegal in some countries and is again very risky if the competition is able to respond to this method. We do not have enough finances to pull this off. We intend to take over a large share of the market not momentarily but slowly and steadily. We are also not intending to create a market niche for our product. Our main goal is to offer a price slightly higher that our production cost and lower than competitor prices in order to make a small profit while establishing ourselves as a major watch brand. Conclusion: In conclusion, by considering all the information presented in the analysis and the specifics of the pricing we decided the usage of the competitor-orientated method for our product in order to obtain major share of the market. Of course, there are many advantages and disadvantages for choosing both the cost-based and the competitor-orientated method. Having in mind that our product is widely used we considered that this pricing strategy will help us eliminate a great part of the competition and satisfy our customers needs and wants, which are our aims. This pricing method will be in assistance for the fast penetration of our product on the market and in the field of business relationships. We run the calculated risk of bankruptcy if there are not enough sales and if customers are not convinced in the quality of our product. Otherwise, we will have the opportunity to approve on the market with a great brand name and a good company position. Bibliography Sources used: 1. Blythe, J. (2001). Essentials of Marketing (2nd ed.). FT: Prentice Hall. 2. Kotler and Armstrong. (2001). Principles of Marketing (9th ed.). Prentice hall. 3. Jobber, D. (2001). Principles Practice of Marketing (3rd ed.). McGraw-Hill Company. 4. Mercer, D. (1992). Marketing. Blackwell Publishers. 5. Baked, M. (1994). The Marketing Book (3rd ed.). Butterworth Heinemann. 6. Etzel, M. (2004). Marketing (12th ed.). Mcgraw-Hill/ David Brake. 7. Oliver, G.(1995). Marketing Today (4th ed.). Prentice Hall. 8. Blagoev, V. (2003). Marketing (2nd ed.). 9. The Product Life Cycle. (2008). Retrieved October 14, 2008, from quickmba.com/marketing/product/lifecycle/

Saturday, November 23, 2019

buy custom Career Background in Business essay

buy custom Career Background in Business essay I consider having a strong career background in business as the major reason behind my wish to enroll for a business course at the Lakeland College. I am interested in the field of business because I have a strong passion for business related studies, which I drew from various observations that I have made around the world. The essence f my desire emanate from my first encounter with real economics after reading a book titled misunderstanding by Larry Lang who is a renowned economist. I believe that studying this course will enable me come face to face with various economic issues that the society encounters on a day-to-day basis. This will in turn offer me an opportunity to collaborate with other people in search of solutions. I am also enthusiastic about economics, especially when it comes to international market dynamics. My keen interest is usually focused on understanding how international business is conducted among different countries or regions around the world. This is becau se I believe that business drives the world in many ways. Research is a vital academic undertaking that I believe has the potential to change the society in many ways. I believe that such undertakings are particularly crucial in business relaed endeavors. Therefore, I am confident that Lakeland College has a suitable environment to enable me do research in various areas in the field of business. This is because the institution is reputed for its quality in terms of education it offers. Besides, I have a lot of interest when it comes to researching and analyzing different economy related issues. Having done Global Pathway as a course at Northeastern University, I developed vital research skills. I was successfully able to write a capstone research project on principals of macroeconomics and pre-calculus, hence gaining a lot of knowledge about how to write a successful academic research paper. This is because I gained enough basic skills that are required when researching and writing reports about a particular project. In this line, I also participated in various programs where I contributed in different ways. During the weekends, I used to volunteer at a local child center and some time at a food bank. This gave me a real feeling of how business can be integrated with life, especially in terms of improving the standards of living by having better economic environments. In addition, I learnt how to interact with people hence improving my observation skills that enable me relate things easily and accurately. Countries that are big businesswise mainly influence the global economy. Therefore, I believe that having a Chinese background will offer me an opportunity to study the Chinese business dynamics since the country does a lot of trade with most if not all countries around the world. Therefore, I will be able to relate culture and traditions with business and establish different phenomena associated with them. Being an adept in English speaking and writing gives me an advantage of pursuing this course. This is because the course is offered in English language, hence posing no risk of ineffective learning because of a language barrier. Moreover, my first encounter with the Chinese economy was courtesy the Larry Lang book that talks about problem contradictions. This will enable me learn international business better. During free time, I like listening to music and playing tennis as well as painting. In addition, I can pay a violin, thus showing my interest in music too. In other words, I m interested in artwork. I believe that the Lakeland College is the best place for me to pursue my career dreams and at the same time enjoy education alongside my hobbies. I am looking forward to your consideration. Buy custom Career Background in Business essay

Thursday, November 21, 2019

Homelessness in U.S Essay Example | Topics and Well Written Essays - 1000 words

Homelessness in U.S - Essay Example Given the current economic constraints, some people argue that the homeless people are freeloaders, who are unwilling to work extra hard so as they can afford to live in a place, which is not only safe, but also healthy for themselves, as well as their families. Therefore, this essay tends to clarify this issue by examining the main causes of homelessness within the United States, its effects, while at the same time giving a recommendation on what has to be done in tackling this problem. Causes There are various reasons leading to people becoming homeless, as well as the combination of causes leading to homelessness within the United States, which tend to vary from different individuals. The National Law Center on Homelessness & Poverty (2011) notes these causes including high cost and scarcity of housing; it is hard, according to Mayock and Carr (2008), if not impractical, for individuals with low-income, together with families to get affordable housing within the US. The majority o f the houses available in the United States are extremely expensive; therefore, it is easy for low income earners to acquire them (USA Institute for Children, Poverty & Homelessness, 2011). Secondly, poverty, literacy, joblessness and education happen to be another significant cause of homelessness within the United States. Poverty has a close connection with homelessness. When people do not have income for meeting all their needs, they get compelled to make a choice between housing, childcare, utilities, food, transportation and healthcare (Carter, 2011). Mayock and Carr (2008) claim that, even though a high percentage of homeless individuals has employment, their incomes are in most cases not enough to make certain that housing stability while the majority of people lack jobs, which living wages, high job security, as well as health insurance. Additionally, a lack of educational opportunities restricts accessibility to living-wage jobs (USA Institute for Children, Poverty & Homele ssness, 2011). The third leading cause of homelessness within the United States happens to be domestic violence: This is a factor in homelessness especially for women with children. Research shows that up to half of homeless women along with children might have gone through domestic violence before becoming homeless (National Law Center on Homelessness & Poverty, 2011). The majority of homeless youth and young adults have experienced violence within their homes. Fourthly, effects of mental illness and drug addiction also play a key role in the problem of homelessness within the United States. Most people with complex life issues connected to mental illness as well as substance use are amongst homeless persons compared to the general population (National Law Center on Homelessness & Poverty, 2011). In the United States, about 25 percent of homeless people are living with acute mental illness with alcohol and drug use being noteworthy amongst a huge group of homeless persons (National Law Center on Homelessness & Poverty, 2011). Apparently, issues related to untreated mental illness, together with substance abuse affect housing stability, as well as success (USA Institute for Children, Poverty & Homelessness, 2011). Institutional release to homelessness happens to another major cause of homelessness in the United Stat