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Managing Financial Principles and Techniques

In: Business and Management

Submitted By revathyvellusamy
Words 3451
Pages 14
Managing Financial Principles and Techniques - Financial and Investment analysis
1. Be able to apply cost concepts to the decision-making process 2 2. Be able to apply forecasting techniques to obtain information for decision making 4 3. Be able to participate in the budgetary process of an organization 5 4. Be able to recommend cost reduction and management processes for an organization 7 5. Be able to use financial appraisal techniques to make strategic investment decisions for an organization 8 6. Be able to interpret financial statements for planning and decision making 10 References 12

1. Be able to apply cost concepts to the decision-making process
1.1 explain the importance of costs in the pricing strategy of an organisation
The pricing strategy becomes the major element in marketing mix of Dell Computers as it is related to product positioning. When there is a planning for new product launch pricing strategy is important and it requires general sequence of stages involved during pricing the new product. The different steps are as follows: (Daft, 2011) * Developing marketing strategy – helps the company to develop marketing strategy based on market analysis, market segmentation and positioning * Marketing Mix decisions – Defining a product, distribution and its promotional tactics * Estimation of demand curve – Estimating the demand and understand how it varies from quantity wit price * Cost Calculation – Calculation of fixed cost and variable cost associated with product development * Knowledge about environmental factors – Understanding the factors related to competition for the product and legal constraints * Setup of pricing objectives – Planning for profit, revenue maximization and price stabilization * Price determination – From the information collected from all the above steps a pricing strategy...

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