Objective: Apply pricing strategies to achieve an objective Like your discussion in week two, this assignment will have several layers. To start, research and define/describe the following pricing methods: Cost + [plus] Prime costing Backward Pricing Price-per-Customer Competitive. Once defined, select one method and explain how it would be the best match for a [your] theoretical business in your industry specialization. Identify the target market and explain how your chosen method is better suited than at least one other method. Explain how the selected method will achieve one of the following pricing objectives; sales volume maximization market share gain profit maximization market penetration [If not planning to pursue hospitality as a career, use the hospitality industry segment most meaningful/interesting to you] As a final step, evaluate and critique the selected pricing method in the context of price elasticity and price discrimination. How might either be considered when establishing actual prices for products or services of your business [or business type]? Writing Expectations Written communication: Written communication is free of errors that detract from the overall message. APA formatting: Resources and citations are formatted according to APA style and formatting. Length is less important than content. Each element should be sufficiently discussed without “fluff”.
Objective: Evaluate the use of market segmentation and market positioning For your first writing assignment, you will compare two different organizations within a selected segment of the hospitality industry. At least one of the identified organizations should cater to a defined niche market within the segment. The other can have more broad appeal or a larger target market. The comparison will describe each organization and then analyze how each demonstrates market segmentation AND market positioning. If using lodging, you may use two different brands within the same organization as long as one brand is associated with a defined niche market. Market segmentation is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics. Market positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. Following the analysis of your examples, evaluate how you might utilize market segmentation and position for your product/service. You can use 1st person POV for this segment of your writing. Writing Expectations Written communication: Written communication is free of errors that detract from the overall message. APA formatting: Resources and citations are formatted according to APA style and formatting. Length is less important than content. Each element should be sufficiently discussed without “fluff”.
I have listed the information in report 3 document. Please find the same, For previous Reference please find the reference document of content. Its unfortunate, I scored less grade after this effort, Kindly consider this important as possible , aiming Higher Distinction.