Pricing Strategy Consulting Business Essay Example | Topics and Well Written Essays - 1750 words

Pricing Strategy Consulting Business - Essay Example Out of the three options, the most profitable and widely accepted one is number three. Most organizations falsely believe that they are competent at pricing, whereas the case is totally different (Daly, 2002, p. 1). Thus, it is necessary to price the product at a right price in order to attract the target market and gain profits. This paper aims to discuss the pricing strategy adopted in the launch of a new product. The scenario describes a company launching a new product. The organization has sought the help of a consultant in deciding upon the price. The client deals with luxury goods and has decided to launch perfume targeting the high-end segment of the society. The perfume introduced will be segmented both for men and women. Therefore, it is necessary to decide upon the price so as to attract the consumers and make the product profitable and well accepted by the target market. The client has asked the help of the consultancy in deciding upon the pricing of the product. The busin ess deals in luxury goods; as a result, they cannot charge a comparatively low price as compared to its other luxury goods. Therefore, pricing strategy should be decided based on the product and the business strategy which it has adopted for over the years. Pricing Policy Pricing has been termed as one of the important aspects in branding and marketing strategy as pricing is considered one of the first and foremost indicators of a brand positioning with respect to its consumers. Pricing is also the most flexible factor out of the 6 Ps of marketing mix as it can be modified at an ease (Okonkwo, 2007, p. 140). Pricing policy determines the way or the technique used by the company to set its prices for its product. One of the simplest ways to set price is through uniform pricing policy. The most profitable pricing policy is the price discrimination because in this case each of the unit is priced based on the benefit that the unit provides to its respective buyers. The next profitable p ricing policy is direct segment discrimination. Here the seller should be able to directly identify the various potential segments. Next to direct segment discrimination is the indirect segment discrimination. The least profitable pricing is the uniform pricing. Therefore based on the above discussion, it would be advisable to the client to adopt the pricing policy of complete price discrimination as in this pricing policy the marginal benefit equals the marginal cost which would benefit the client. Each of the buyers would be charged a maximum price that the customers are willing to pay and it is applicable as the product is targeted to the high-end segment of the customers. This pricing policy would extract a much higher price for its units that would be sold (Png & Cheng, 2001, p. 1-3). There are six steps in setting the pricing policy which includes selecting the pricing objectives, determination of demand, estimating the cost, analyzing the cost of its competitors, selecting th e pricing method and finally selecting the final price (Kotler, 2007, p.241). Figure 1: Pricing Policy (Source: Kotler, 2007, p.241) Analyzing the best price setting process used to establish sustainable and profitable prices In order to establish a sustainable and p

HRM and Collective Bargaining Assignment Example | Topics and Well Written Essays - 4250 words - 1

HRM and Collective Bargaining - Assignment Example A recommendation would be to employ distributive bargaining for better results. Â  The following is an integrative report on the role of the human resources function in terms of negotiating with labor unions. The report will delve into management relations with unions, and how these relationships are likely to be affected if either the union or management take a rigid stand during collective bargaining negotiations, and not exercise flexibility. The report will also look into such factors as health and safety regulations, misconduct, payroll, minimum wage, and others, to establish arguments and issues from either side and will attempt to culminate all these factors to come up with meaningful conclusions and/or provide future recommendations. Â  Where possible, the report will endeavor to provide examples of real organizational cases to strengthen relevant arguments. The report will make use of extensive established literature in the subject area to gain and provide theoretical input towards its discussions. Â  Employment relationship is protected by two different types of regulations namely legal and voluntary regulations (Willey, 2003), where legal regulations refer to standardised laws passed by the government like processes for dealing with complaints about infringement of legal rights; and the provision of solutions; whereas voluntary regulations refer to the additional discretion employers have, in compliance with legal regulations, in determining pay and employment conditions and the procedures followed; use of grievance procedures; disciplinary procedures; the roles of consultation and collective bargaining; and the involvement of third parties to the regulation of employment relations (Willey, 2003; Newell and Scarbrough, 2002).

Green Criminology Essay Example | Topics and Well Written Essays - 1500 words

Green Criminology - Essay Example It is a fact that science and technology advances are contributing heavily to the advancements of life on earth. Nobody can overlook the efforts of science and technology in reducing the human efforts needed in many areas of our social life. At the same time, advanced technologies brought many challenges also. For example, nuclear power is believed to be the future energy option because of the rapidly exhausting oil resources and increasing energy needs. But nuclear power generation produces a lot of radioactive wastes and the dumping of these wastes is a major issue we are facing at present. Most of the industrialized or developed countries like America, Britain, France, China etc have toxic wastes generated out of high levels of industrialization and it is a fact that these countries dumping the toxic wastes in poor countries, misleading the administrations of the poor countries. This paper briefly analyses the victimization of the general public in poor countries by the developed countries in dumping toxic wastes. In December 1984, Indian city Bhopal has witnessed one of the worst examples of green criminology. The Union Carbide chemical plant at Bhopal, which used, highly toxic chemicals in its production process faced a catastrophic explosion when water somehow mixed with the chemicals because of the negligence. As per the estimates, more than 6000 people died in the company proximity and more than 60000 people were seriously affected (The Greening of Criminology, n. d, p.315). The toxic gages liberated out of the plant reached the nearby Bhopal railway station and killed many people who were sleeping there. This plant was established in a heavily populated area which itself is a proof of negligence on the part of the authorities and the Union Carbide company.

Workplace Stress and Aggression Research Paper Example | Topics and Well Written Essays - 750 words

Workplace Stress and Aggression - Research Paper Example The overall productivity of the businesses may also come down just because of this negative perception about the work place environment in the company (Tom, 2008). The research shows many lethal examples of such violent incidents in different US institutions. At the top of the list, there is an incident of a US Army Major, who was serving as a psychiatrist, killed 13 people at his place in October 2007. Similarly, another horrible incident took place in 2006, when the corps found a dead body of a student at a research building hanging with the wall. The reason behind her death was the violent behavior of the lab assistant (Tom, 2008). In November 2008, an engineer was fired because of the consistent poor performance; he came after a week to his company and shot 11 people in aggression. In another incident in Mississippi in 2003, a plant worker killed six workers and then shot himself too. These are some of the incidents which are highlighted in the research, otherwise the history of US companies is filled with these horrible violent behaviors and therefore increasing the level of aggression and stress in the company employees (Tom, 2008). The increasing rate of work place violence issues need to be addressed soon other it will create a havoc for the rest of the company employees and thus the company management will have to suffer the losses. For this reason, the company management should be aware of the warning signs or the triggering factors which actually provoke these violent behaviors. In this way, company can take precautionary measures to avoid any such hazardous event or incident to take place (Morris, 2005). If a person is not at all comfortable with his or her colleagues at the work place and used to pass negative comments on them then it means that he has an aggressive behavior towards others. His inappropriate remarks towards other are a symbol that he is not comfortable with them. According to these people, they are