Pricing Factor in Decision

Pricing Factor in Decision Introduction Pricing is part of the overall marketing strategy that plays tremendously vital role in the company’s success. Good price decision-making helps in boosting up the profitability and or market share of a product. Pricing factors in decision-making can be discussed as either external or internal factors.Advertising We will write a custom essay sample on Pricing Factor in Decision-Making specifically for you for only $16.05 $11/page Learn More Pricing Factors in Decision Making Customer Value, Relative to Competitive Offerings This is an external factor affecting pricing decisions. In setting prices as a Bubba’s House of Pork Rinds proprietor, it is important to calculate all the differentiating features and benefits of its product or service as a summation package. For instance, the management can look at the customer demand and consider important factors such as comparing its products to those of the major competitors, and whether th e firm has any competitive advantages vital to customers that they may be willing to pay more to get (Young and Keat, 2006). Differences between market and industrial segments In market segmentation, majority of businesses generate individual schemes of segmentation as a requirement to meet their business strategies (Young and Keat, 2006). There is some sense of similarity between these two segmentations, segmenting industrial markets appears different and more demanding due to its greater complexity in the buying processes, buying behavior and the bulkiness of industrial products. Prices in major industries are resulting to price differentiation among customer groups, which significance affects the profit margin. In order to make profits, a wholesaler or distributor that purchases pork rinds products in bulk requires lower prices compared to that of the retailer. They should maintain the end user price at almost equal level as when the manufacturer directly sells to a retailer. In short, Bubba’s House of Pork Rinds should consider the trends of its major buyers, if most of them are bulk buyers who resell the pork rinds, then, in order to maintain the prices to the end user, the firm must lower its prices. Expected Competitive Reactions A number of companies make drastic pricing decisions without considering several factors, a tend that might lead to price wars from competitors. Bubba’s House of Pork Rinds needs to consider the competitors (Dons Doritos Drive-in and Pauls Palace of Pringles) cost structure, their past pricing trends, product demand, the product’s relationship to others in the competitors line, and their capacity utilization.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More By considering all or most of these factors, Bubba’s House of Pork Rinds can come up with a competitive price and still avoid potential price wa rs (Daly, 2002). Marketing Objectives Market positioning has a great impact on pricing strategy. If a firm’s customer value, demand, competition, and real costs factors are accurately evaluated, then the resulting strategic price levels should maximize profits. Bubba’s House of Pork Rinds’ proprietor should weigh all these factors against its marketing objectives. There is also the need to evaluate how a price change affects the firm’s other products, the necessity for short-term profits as opposed to long-term market position, long-term consumer behavior, and the impact of profits management within the entire business operation. Maximum attention must be observed in order to put these four factors into consideration when making pricing decisions. The pricing objective adopted must cater for the current and future objectives of the firm (Baker, 2006). A consideration of these factors will help it to make better and more fact-based decisions about the toug hest marketing decision for both current and future market trends. References Baker, R. J. (2006). Pricing on purpose: creating and capturing value. NJ: John Wiley Sons, Inc. Daly, J. L. (2002). Pricing for profitability: activity-based pricing for competitive advantage. NY: John Wiley Sons, Inc. Young, P. K. Y., and Keat, P. G. (2006). Managerial Economics: Economic Tools for Today’s Decision Makers, 6th edition. NJ: Pearson Prentice Hall.Advertising We will write a custom essay sample on Pricing Factor in Decision-Making specifically for you for only $16.05 $11/page Learn More

2016 BSL Cranberry Classic Essays - Swimming, Sports, Leisure

2016 BSL Cranberry Classic Essays - Swimming, Sports, Leisure 2016 BSL Cranberry Classic Invitational Swim Meet November 4-6 , 2016 Birmingham Crossplex Birmingham Swim League " Cranberry Classic Invitational " Birmingham CrossPlex November 4-6 , 2016 SANCTIONED BY:This meet will be conducted under the auspices of Southeastern Swimming, Inc. of USA Swimming. USA Swimming technical rules and regulations will be followed with the exception of items specifically addressed in the meet information Sanctioned by Southeastern Swimming, Inc. Held under the sanction of USA Swimming and Southeastern Swimming, Inc. Sanction No. 16SEBSL11-4, Time Trial Sanction No. 16SEBSL11-4TT HOSTED BY:Birmingham Swim League (www.birminghamswimleague.org) 1025 Montgomery Hwy Suite 106 Birmingham, Al 35216 205-823-5512 (office) LOCATION:Birmingham CrossPlex (www.birminghamcrossplex.com) 2337 Bessemer Road Birmingham, AL 35208 205-279-8900 FACILITIES:Indoor 20 lane, 25 yard or 10 lane, 50 meter pool with non-turbulent lane lines, Colorado timing system and video scoreboard. The competition course has been certified in accordance with 104.2.2C(4). The water depth is a minimum of 8 feet to 16 feet. Warm-up/warm-down lanes available at all times. RULES:Current United States Swimming rules will govern the conduct of the meet. Southeastern Swimming safety guidelines and warm up procedures will be in effect. The use of audio or visual recording devices, including a cell phone, is not permitted in changing areas, rest rooms, locker rooms, or from behind the starting blocks. Deck changing into or out of swimsuits other than in locker rooms or rest rooms is prohibited. In the interest of safety and accident prevention, coaches and swimmers are asked to observe all posted pool rules and facility rules referred to in this meet information and to conduct themselves in a safe and prudent manner. Birmingham Swim League will not accept responsibility for anyone who climbs to an unsafe height for any reason. OFFICIALS:Meet Director:Kristie Muir ([emailprotected]) Meet Referee:Gwen McKenzie ([emailprotected]) Admin Referee:Donna Williamson ([emailprotected]) Officials and apprentices from visiting teams are welcome and appreciated. Please contact Gwen McKenzie ([emailprotected]) with session(s) you are available to work. Dress in khaki pants/shorts/skirts, white shirts and white shoes. Please fill out information on "Team Information" page to be returned with entries. Officials must be members of USA Swimming and must present evidence of certification as required by Southeastern Swimming. Should there be any questions, meet officials will recognize only coaches or their designated representatives. Officials' meeting will take place in the hospitality room 1 hour before each session. Timers' meeting will take place at Clerk of Course 30 minutes before each session. ELIGIBILITY:All swimmers must be 2016-2017 USA Swimming Registered athletes. USA registration number must be listed on the entry form. No entry will be accepted without current registration numbers. There will be no on-deck USA Swimming membership registration. Coaches and officials must present evidence of certification as required by Southeastern Swimming. A swimmer's age on the first day of the meet will determine his or her age for the entire meet. Swimmers must be 11 years old to enter "Senior" events. Any swimmer entered in the meet must be certified by a USA Swimming member coach as being proficient in performing a racing start or must start each race from within the water. When unaccompanied by a member-coach, it is the responsibility of the swimmer or the swimmer's legal guardian to ensure compliance with this requirement. STARTING TIMES:Warm-upCompetition Friday PM:4:00 PM5:00 PM Saturday AM:7:20 AM; 7:50 AM8:30 AM Saturday PM:Not before 12:30 PMNot before 1:40 PM Sunday AM:7:20 AM; 7:50 AM8:30 AM Sunday PM:Not before 12:30 PMNot before 1:40 PM Sessions (AM and PM) and/or events may be combined if necessary, depending on the number of entrants. If sessions are combined the events will also be re-numbered. Teams will be notified by telephone and/or email by Wednesday, November 4th, if this should occur, so please fill out ALL information on the TEAM INFORMATION page and turn that in with your entries by the deadline. WARM-UPS:Morning sessions will have one or two warm-ups depending on entries. Depending on size of meet, there may be designated sprint lanes at end of each morning warm-up. Afternoon sessions will be OPEN warm-ups with sprint and pace lanes to be designated the last 25 minutes at the discretion of the Meet Referee. Warm-up Lane assignments will be posted on www.birminghamswimleague.org and will be in

Central Bank Independence and the Conduct of Monetary Policy Essay

Central Bank Independence and the Conduct of Monetary Policy - Essay Example During the period of 1970s and in the beginning of 1980s, main industrialised economies witnessed constant stage of increased inflation (Walsh, 2005). A central bank that is independent enjoys freedom while planning its instrument of policy in order to attain its purpose. In order to have functional independence, it is necessary for the main purpose of the nationwide central bank with regard to a state which is a member of the EU, to be planned in a transparent and lawfully certain way. It is also required to be completely aligned along with the main purpose of price steadiness (Smaghi, 2007). To be more precise, the concept of central bank independence means that the bank enjoys complete independent authority in planning the degree of short-term rate of interest with regard to the ‘money market’ (Smaghi, 2007). 2. The Central Bank Independence & Framework of Monetary Policy In the earlier years, there have been certain absolute alterations made in the legislation of the central bank in order to boost the legal independence for the bank. The alterations made in the legislation provide more power to the central bank and facilitates it to emphasise chiefly on the purpose of price stability. ... Therefore, it can be stated that the vital purpose of the monetary policy designed by the independent central banks is to uphold stability in prices by effectively managing the inflation (Cukierman, 1994). 2.1. Basic Concepts in Monetary Policy The mechanism of the monetary policy is a process with the help of which alterations in the supply of money have an effect on employment, equilibrium of payments, output and inflation as well. For instance, any increase in the supply of money would imply that there would be more availability of money for the people to expend on assets that are financial in nature. As a result, the cost of the financial assets would increase. It is a known fact that there exists an inverse relationship among the rate of interest and the cost of the financial assets. To further understand this concept, it is assumed that there has been an issue of a certain government bond for ?1000 and which is expected to pay an interest of 10 per cent which makes it ?100. Now , if assumed that the price for that particular bond went up to ?2000 then the interest of ?100 would be now 5 per cent. Therefore, it indicates that an increase in the costs of the financial assets would result in decreasing the interest rates. Decrease in the rate of interest encourages investment along with consumption. They even tend to lessen the requirement for currency by way of lowering the value as well as increasing the export demand and lessening the import demand concurrently (Grant & Vidler, 2000). The main purpose of a central bank is that of defending the worth for the currency with regard to what it would buy. Inflation or rising price decreases the value for money. Monetary