...mentioned in our marketing plan - More interactive, build customer relationship as tailored to individual customers 2. Identification of our competitive positing (market challenger) - Market leader include FoodPanda - Trying to outpace them with our product differentiation 3. Corporate social responsibility - to create brand awareness - Give back to the society Things that we could have done better! 1. Other ways of conducting primary data research (mail, telephone, personnel, etc..) - Pros & cons - Secondary data sometime does not really tell you what you really want to know 2. Public relation should carried out at the start - Immediate brand awareness Difficulties our team have faced 1. Market skimming vs Market penetration - Decision to use market skimming pricing to raise the quality of our service, compared to giving affordable pricing to reach out to a larger market - In the end, uses market penetration, and employ price adjustment strategies like promotional pricing to reach out to larger crowd 2. Using print media vs using radio ads - Print media might not be efficient as people will just flip through the pages, compared to radio ads, where they will not turn off the radio just to not hear the ad 3. Service Trade-off (offer only proximity delivery or round-the-island delivery) Points to notes from other group Group 1 - For single, delivery charges might deter them from ordering > Order as a family,...
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...priced product because sprint would let subscribers pay half of what they are paying to AT&T or Verizon. So it is a lower priced product. 3.1.4 The stage of the life cycle of sprint is declined, during the declined stage, sales fall rapidly. Sprint’s shares fell about 3% Tuesday, leaving them down more than 55% so far this year. When this happens, marketer may regain consumer’s attention by cutting off the price. 3.1.5 New features are added to product extension The half-off pricing under sprint’s offer won’t expire as long as subscribers stay on the plan. The carries is also offering to pay up to $350 per line for early termination fees charged by AT&T and Verizon for customers still under the contract. 3.2 Price penetration/ price skimming 3.2.1 The company is attempting to control competition with predatory pricing Penetration pricing is a pricing strategy where the price of a product is initially set at a price lower than the...
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...Business Recommendations Memorandum Team A: Alpha Team Consultants (April Hill, Kenechia Nelson, Nicki Stoops, Tina Parker, Teresa Tessier) University of Phoenix ECO/561: Economics MEMO: To: Big Drive Auto From: Alpha Team Consultant, LLC Date: January 16, 2010 Re: Business Recommendations for Big Drive Auto based on Economic Projections This memo will present three specific economic futures over the next five years for the Big Drive Auto Company. This memo features recommendations from year to year and several graphs to provide visual support of the business recommendations from the Alpha Team Consultants (Alpha). Alpha would like the opportunity to present our recommendations for your future business management decisions. Our recommendations will provide you with money and time saving options regarding organizing, managing and integrating finances, product manufacturing and development, consumer relations and supply chain all while continuously increasing revenues and growth within Big Drive Auto. As your exclusive consulting firm we have composed several forms of data including diagrams, graphs and charts that aide in depicting the effects of our business recommendations over the next five years. This data is based solely on the GDP and any current economic contributing factors. The presented data and recommendations will aid the Big Drive Auto Company in staying ahead of the competition, while developing other methods that aide in business decisions...
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...DE LA SALLE UNIVERSITY MARKETING DEPARMENT The Toyota Altis IN PARTIAL FULLFILMENT OF THE REQUIREMENTS OF THE COURSE MARKET1 Submitted by with contribution percentages: Casas, Alicia 25% Rodriguez, Anton 25% Villaroman, Jeremiah 25% Wijangco, Patricia 25% Term 1 AY 2013-2014 Submitted to: Professor Milette Zamora The Toyota Altis 1 Product The Toyota Altis has been one of the most trusted mid-end sedans in the Philippines for many years. It has already been very accepted in the Philippine market because of its quality, reliability, and design with a reasonable price. When someone purchases a Toyota Altis, they bought an “indicator of success”. The buyers of the Altis want to show that he/she has made a mark in his/her company or business. It is also a favorite of companies to issue to their executives not only for transportation, but also to carry the good image of their company and executives. The instrument we observed is the specification flyer of the 2013 Toyota Altis. In the front side of the flyer, the Toyota Altis is depicted going at a fast speed with notable colors of red, black and grey in the background. The top left side has the classic combination of the brand name and their tagline “moving forward” and at the top right, a certain technology named “dual VVT-i” is highlighted. At the bottom left, the Corolla Altis is paired with the words, “Sophistication + Thrills”. The back side of the flyer is where all the specifications of the...
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...African Lemons Tuwain Kolleh Chamberlain College of Nursing Introduction to Business & Technology Professor Christine Epps Introduction There’s a lot that goes into starting a business, especially when you are starting one from scratch. Often time’s people look at successful entrepreneurs and say that they got lucky, not knowing that it took hard work and proper business strategies to get to where that entrepreneur is. The purpose of this paper is to develop a basic premise for a new company, address-branding strategies, importance of a company mission statement, ways that company’s can positively affect their communities, proper way to price products and how to enter your company into a global market. Branding After contemplating on several names for my company, I finally decided to name my lemonade stand African Lemons. Living in one of the top African populated communities in the U.S gives me an edge over other competitors by branding my lemonade stand African Lemons. Us Africans are known for having each other backs no matter what African country you are from. It’s a cultural thing. We rather buy from our native people then people of other cultures. I will also be able to draw other customers with this name due to the fact that African products are usually natural, pure and without artificial preservatives. Many Americans and foreigners love natural products especially for their young ones. Naming is important to the creation of a product/ company...
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...Price Skimming is defined as a strategy in which the price of a product is set relatively high at the introductory stage and gradually lowered over time (Cateora et. al. 2009).. The objective of this strategy is to make people who strongly desire the product pay a premium price when the product is first released into the market. When the demand of the first layer of customers is saturated, the price is reduced in order to appeal to the next layer of customers that are increasingly price sensitive. Hence, the name of this strategy is derived from skimming successive customer segments referred to as “cream” layers. According to Kumar (2007), Firms can capitalise on the international demand for their products when they are the only seller of a new or innovative product, or when the brand has exceptional features, symbolic appeal and use price skimming to maximise profit, till competition forces the firm to price their products lower. It is usually oriented towards a market that is willing to pay high premium prices for the special offering. Skimming strategies are usually employed with premium brands and works in favour of the branding as well, as the initial high prices can possibly build a high-quality image or position their product as one that is premium and luxury tiered. Especially in the technological sector where large amounts of money has been invested into the research and development of a innovative product, skimming allows the high set-up cost to be offset within...
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...“Skimming refers to stealing credit and debit card numbers while processing the card. This can occur at restaurant, store, gas station or anywhere else that a card transaction takes place, including an ATM” (Munton and McLeod 164). Skimming method is another identity theft scheme that is used by criminals and happens when individuals use their credit cards. Upon the utilization of the credit card, a skimming machine reads the magnetic stripe on the back of a credit or debit card when it is swiped to make a purchase or to access your account through an ATM. The skimmer records the following data: cardholder’s name, account number, expiration date and the card security code and saves it. Now criminals have all the information they need to make unauthorized purchases on the victim’s card (Levin and...
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...Skimming Devices in Gas Pumps Lori Markey Acct 571 15 March 2014 ABSTRACT This paper explores fraudulent activity committed by using gas pumps to steal financial information from victims. Furthermore, the paper attempts to answer a variety of questions as presented on Page 143 of our text book. Such as the control issues that were breached and how the fraudsters meet the profile of the average perpetrator. Additionally, I will explore elements of the fraud triangle, red flags for fraud, and problems with prosecuting criminals. Skimming Devices in Gas Pumps In March 2013, four men Garegin Spartalyan, Aram Martirosian, Hayk Dzhandzhapanyn, and Davit Kudugulyan were charged with 426 counts of money laundering, criminal possession of stolen property, grand larceny, criminal possession of a forgery device, and criminal possession of forged instruments (Vance, 2014). The men are from Las Vegas, Nevada except Hayk who hails from California (Vance, 2014). The four along with nine other accomplices were accused of stealing victims banking information and PINS by using skimming machines at gas stations in Texas, Georgia, and Tennessee. The skimming device is put inside the pump with a universal to open the front and only takes between 5 – 10 minutes to install/remove (biggs, 2014). The skimmers that were used connect into the line between the card reader and pump computer to read the PIN input and the magnetic strip and store the information locally (biggs, 2014)...
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...for a particular word. To get detailed information, you might use a technique such as SQ4R. You need to adjust your reading speed and technique depending on your purpose. Many people consider skimming and scanning search techniques rather than reading strategies. However when reading large volumes of information, they may be more practical than reading. For example, you might be searching for specific information, looking for clues, or reviewing information. Harder - Web pages, novels, textbooks, manuals, magazines, newspapers, and mail are just a few of the things that people read every day. Effective and efficient readers learn to use many styles of reading for different purposes. Skimming, scanning, and critical reading are different styles of reading and information processing. Skimming is used to quickly identify the main ideas of a text. When you read the newspaper, you're probably not reading it word-by-word, instead you're scanning the text. Skimming is done at a speed three to four times faster than normal reading. People often skim when they have lots of material to read in a limited amount of time. Use skimming when you want to see if an article may be of interest in your research. There are many strategies that can be used when skimming. Some people read the first and last paragraphs using headings, summarizes and other organizers as they move down the page or screen. You might read the title, subtitles, subheading, and illustrations...
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...JOURNAL OF SKIMMING AND SCANING Skimming and scanning is glancing quickly through a selection to get a sense of the topics and important ideas and then scan for particular details. Scanning is one of the technique that help us to know more about the some of the information. Scanning is generally read in small parts, but extend it over various lengths of text as when we scan while the skimming technique is usually involves reading the beginnings and endings of paragraphs. Skimming is one of the tools that we can use to read more in less time.Skimming refers to looking for the general or main ideas, and works best with non-fiction or factual material. With skimming, we can overall understanding to reduced because we don’t read everything and read only what is important to purpose. Skimming takes place while reading and allows to look for details in addition to the main ideas. From skim we will get a good idea of what information will be discussed. We can begin to read only the first sentence of each paragraph and also called topic sentences, of main idea in the paragraph. Skimming also help us looking for important pieces of information, such as names, dates, or events. Skimming also help us locate the information quickly while making sure we use our time wisely. It will also increase the amount of usable material that we obtain for our research. Skimming is used to quickly identify the main ideas of a text. When we read some of the reading material such newspaper,...
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...Skimming involves goods being sold at higher prices so that fewer sales are needed to break even. By selling a product at a high price, sacrificing high sales to gain a high profit is therefore "skimming" the market. Skimming involves goods being sold at higher prices so that fewer sales are needed to break even. Selling a product at a high price and sacrificing high sales to gain a high profit is therefore "skimming" the market. Skimming is usually employed to reimburse the cost of investment of the original research into the product. It is commonly used in electronic markets when a new range, such as DVD players, are firstly dispatched into the market at a high price. This strategy is often used to target "early adopters" of a product or service. Early adopters generally have a relatively lower price-sensitivity and this can be attributed to their need for the product outweighing their need to economize, a greater understanding of the product's value, or simply having a higher disposable income. This strategy is employed only for a limited duration to recover most of the investment made to build the product. To gain further market share, a seller must use other pricing tactics such as economy or penetration. This method can have some setbacks as it could leave the product at a high price against the competition. A skimming strategy would generally be supported by the following conditions: The first thing that the Coca-Cola company must do is select the pricing objective...
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... | | |1. Recognise the variety of resources available in a library |1.1 Locate and use resources from both reference and loans sections of | | |library and electronic resources e.g. internet, DVD, CD rom, and video.| | | | | | | |2. Know different reading techniques |2.1 Use skimming and scanning techniques to find particular information| | |in possible sources | |...
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...notifications for Gmail. Learn more Hide Gmail COMPOSE Inbox (8) Starred Important Sent Mail Drafts Circles More | enhemachena | | Facebook | | romeormutsago | | wgsvoto | | wtavengwa | More 13 of 15 Why this ad?Japanese Used Cars - www.tradecarview.com - Access to our online market place Get Used cars from tradecarview | skimming Inbox | x | r129601k@students.uz.ac.zw | | Oct 24 | | | to me | | | Skimming is speed reading Skimming or speed reading is a collection of reading methods which attempt to increase rates of reading without greatly reducing comprehension or retention. Methods include chucking and eliminating sub vocalization. No absolute distinct ??normal? and ??speed-reading ?? types of reading exist in practice, since all readers use some of the techniques used in speed reading(such as identifying words without focusing on each letter, not sounding out all words ,not sub-vocalizing some phrases, or spending less time on some phrases than others ,and skimming small sections). Speed reading is characterized by an analysis of trade ?off between measures of speed and comprehension, recognition that different types of reading call for different speed and comprehension rates, and that...
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...The two pricing strategies that M&M need to take in consideration are Penetration Pricing and skimming strategy. Our book for this class outlines four strategies that are essentially used in the business, which are skimming, economy, penetration, and premium pricing strategies (Definition of Pricing, 2015). Organizations may diversify the four mentioned strategies, or may include even more strategies that are found through researching, such as the high and low strategy, marginal cost pricing, and market oriented pricing. Price may maximize revenue and profits, or may backup existing market from new competitors (Definition of Pricing, 2015). However, for this assignment I’ve chosen the before mentioned strategies, penetration & skimming as I’ve compared and analyzed M&M’s benefits in comparison to the cost associated with gaining them. Penetration pricing is set preciously short in order to gain market share swiftly. After a new service is launched, there is an understanding that prices increase after the period of promotion and also after there are achievements of market share objectives (Definition of Pricing, 2015). With penetration pricing, there is a goal of customers’ attraction from setting prices low. Skimming strategy’s idea is to recuperate maximum money upon services attract more competition that will decrease profits for the organization (Applied Managerial). Skimming is basically having a price set high for products until competitors permit, hereafter will allow...
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...just one pricing strategy. As the majority of Coca-Cola sales come through retail outlets such as supermarkets, convenience stores, and fast-food restraunts, Coca-Cola Amatil doesn’t have entire control over the final consumer price, although there are certain pricing strategies implemented by Coca-Cola Amatil used to entice its target market. Discounting, price skimming and price lining are all pricing strategies commonly used in conjunction with their ‘headline’ beverage, Coca-Cola. Coca-Cola can be found in a number of bottled and canned forms, with fairly competitive prices that have now become an industry standard (see figure 1,2 and 3). [pic] [pic] [pic] An example of a pricing strategy used for the Coca-Cola product is price skimming. Price skimming involves charging the highest price possible for innovative products. Price skimming is usually used for a new product on the market. When competitors enter the market this strategy is usually dropped. Coca-Cola Amatil combine an approach of discounting certain lines each week (whether it be 375ml can, 600ml, 1.25L, or 3L bottles) with price skimming, particularly at convenience stores such as service stations. Coca-Cola products are never part of loss leader strategies, where a product is deliberately sold below its cost price to attract customers into the store. Eg: Fast food stores sell inexpensive burgers hoping that customers will buy other products. By charging a premium yet affordable price, this value...
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