Sunday, February 23, 2020

Pricing Strategies of Organisations Essay Example | Topics and Well Written Essays - 2500 words

Pricing Strategies of Organisations - Essay Example With this shift in pricing strategy, Whirlpool was able to redefine the washing machine industry and identify new markets and segments within it (Gregson, pp. 85-87, 2009; Ferrell & Hartline, pp. 47-49, 2008). Market Skimming Consider the example of Sony’s first High Definition Television (HDTV) in the Japanese market introduced in the year 1990. Sony initially priced it with 43000 US dollars but by the end of the year 1993, the same HDTV with similar features was being sold for almost 6000 US dollars. By the year 2004, a 42-inch HDTV had a price tag of only 1200 US dollars in the Japanese market. What Sony was trying to do here in Japanese market is known as â€Å"price skimming† or â€Å"Market skimming price† in the language of marketing. When companies introduce new, technologically advanced and better products, they deliberately charge very high prices for those products (Gregson, pp. 85-87, 2009). Usually, extensive promotion and hype is created in the mark et about the product, which create a very high demand. Furthermore, the unit costs of producing small volumes are not so high. This allows the organisation, not only to keep the competitors out of the market but at the same time, the high price communicates the message of luxury, uniqueness, and superiority of the product. By starting with the highest possible price and gradually decreasing it over a period, the company is able to â€Å"skim† all the revenue layers of the market (Zhang, pp. 36-39, 2005; Kurtz, MacKenzie & Snow, pp. 325-326, 2009). Important here to note is that with this method, the company is able to target all the segments and markets. With high initial prices, the company targets the market of less price sensitive customers who are willing to pay... This essay approves that many airlines in the airline industry use dynamic pricing strategy, which is another form of price discrimination. Under the umbrella of dynamic pricing, airlines charge different fares to the different customers during peak and off peak seasons, for advanced bookings, for last minute bookings and thus fares vary for different times of the day, different days of the month and different seasons. In fact, there are all chances that two people who are travelling through the same flight may have paid different fares for the same flight with the same benefits. Important here to note is that this kind of pricing not only allows the company to earn some extra revenues during the peak hours, days and seasons but it also ends up in increasing tourism in those areas. However, important here to note is that these are the low cost carriers who use aggressive forms of dynamic pricing. This paper makes a conclusion that pricing strategies play a crucial and imperative role in targeting different markets. Companies and managers, which are aware of the potential of pricing strategies to target different markets, are able to generate more business and revenue for the company. However, as mentioned earlier in the paper as well that much consideration and thought must be put into the pricing strategies to target different markets because an incorrect pricing strategies may not even end up tarnishing the image of the company but it may also end up putting the company into losses

Thursday, February 6, 2020

Arbitration Case Study Example | Topics and Well Written Essays - 750 words

Arbitration - Case Study Example Instead the allegations made against him were presented at that time. It would be interesting to determine who crossed his name out - assuming that this occurred - and why. If the claimant's allegations are proven to be true then it would appear that there has been a conspiracy to remove him from the company. How high up the conspiracy would go is not clear, but on the face of things would appear to involve the manager on duty that day since the work schedule has been defaced, and this has not been queried (at least not as far as one can tell, based upon the article). Since the article does not give the company's side of the dispute it is difficult to gauge the veracity of the claimant's account. However, clearly they feel there is a case to be answered since they are prepared to go to arbitration. The greatest difficulty the manager has in this situation is obtaining a truthful account of what happened. The claimant did not seek his line manager's advice at the time that he alleges he saw his name crossed out. Nor would it appear that until matters had reached a head did the claimant make any allegations of discrimination or unfair treatment from his colleagues. Assuming that I was aware of the tensions brewing in the kitchen my first priority would have been to prevent an escalation of the matter. Clearly there is at least one person in the organisation who does not respect other members of staff, namely the person who the claimant alleges swore at him. Had I been made aware of this I would have given the offender a verbal warning, and made it clear that no-one comes to work to have their self-esteem undermined. Depending on how wide spread such behaviour appeared to be I would also initiate a round of anti-discrimination continuing professional development classes, focusing particularly upon the issues in our specific workplace. Also it would appear that there is a shortage of staff in the kitchen or at least under employment of some members of staff and over employment of others - namely the claimant. This suggests that a time and motion study needs to be undertaken to ensure that there are sufficient hands on deck, and that employees are able to complete the tasks in order to keep the business functioning. 3. this is a union situation and has moved to arbitration. recognizing your chracteristics, what method of dispute resolution would you take yo could agree it should go to arbitration or should have been dealt with differantly. you may choose which ever way you want. however you must explain why you choose this method of resolution from teh union and why or why not, what would be the worst method Although arbitration is less expensive than a full industrial tribunal, I would opt for an in-house resolution, the primary reason being to reduce negative publicity. Not only is there a grievance matter here, there may also be a disciplinary issue. I would be tempted to return to the drawing board and exhaust our internal systems prior to handing it over to