Our positioning seems to be premium; we usually position ourselves as more expensive than our competitor. Capacity utilisation is 100% in weekdays across all cities. What did you think the competition was doing? Please see a copy of the Harvard Business Review in the Regent Library databases for examples. As the showing Content The report must start through an overview of your strategy its goals and any changes during the scenario , your results did they get together expectations? Due to these advancements, many would agree that there is no reason to switch over to new alternative fuel. How did the cost structure affect your pricing decisions? Throughout the simulation there are two microeconomic principles being displayed as well as one macroeconomic. Furthermore, we had to deal with the competitor in an intense price war, as the customers would only have two different options to rent a car and, of course, were intuitively very sensitive to prices. After analyzing the market research data we decided our initial market strategy.
Results can be viewed and displayed in 4 screens--Overview, Simulation Summary, Best Scores, and Notable Runs—as well as exported to a Debrief PowerPoint presentation. We formulated a mission statement for our company, decided our market position competitive postures and our distinctive competence. Are you looking for a similar paper or any other quality academic essay? How did you use this information in your pricing decisions? Automobile, Dialog box, Graphical user interface 1180 Words 6 Pages This paper will discuss the examples of the supply and demand curves as they were presented in the simulation. The housing in Atlantis is detached homes and apartments. Students play the role of a regional marketing manager responsible for pricing a fleet of rental cars across cities in Florida. The simulation was designed to help us understand demand and supply as well as the effect of a price ceiling on a specific quantity as well as the quantity supplied.
Content The report should start with an overview of your strategy its goals and any changes during the scenario , your results did they meet expectations? When quoting from or crediting references, use the Harvard style. Design and format of the report are your choice. This task is easier for certain classes of new products than for others. On what do you base that assessment? For this, we could only change the prices applied by the company in weekdays and on weekends. We chose two segments that we wanted to target o be our primary and secondary target segments. Leigh Fisher Associates also prepared a feasibility study for bonds sold in June 2001 to finance. Tang was the Visiting Professor of , and.
In what ways did you use the breakeven calculator? But a new, potentially disruptive battery technology, the ultracapacitor, is on the horizon. This is what I learned. The initial strategy of the company was to price lower than the main competitors. Advantages and Limitations International trade is based on having a comparative advantage. In this system, vehicles are owned by a firm or organization that rents them to users for short periods by the day or through monthly or annual plans. Describe the economics of this business. How would you characterize elasticity of demand in this market overall? A typical run takes students 60-90 minutes, plus time to debrief after play is completed.
Angner June 1, 2010 University of Phoenix Online Introduction The supply and demand simulation was based on the management of rental apartments by GoodLife Management. Universal Rental Car Pricing Simulation Minor Project 2 draws on the content knowledge gained from Periods 1-3. What kind of competitor were you up against? Note that we are using the Major Project Rubric for both Minor and Major Projects. How did the cost structure affect your pricing decisions? When traveling long distances, moving your home, or when you need a vehicle after your own was damaged in an accident, rental car companies provide a solution. Design and format of the report are your choice. Our strategy: We adopted a strategy of offering the highest price achievable whilst maintaining 100% capacity utilization respective to the market share.
We received the expertise of Hal Morgan and Susan Hearst from Good Life Property Management to determine rental prices and how to balance out the supply and demand. A car may be rented for a few hours or even for few months at a stretch. What did you think the competition was doing? By redirecting your social media traffic to your website, Scoop. Countries produce products that are easier for them to produce, then other countries. This is also true for economics.
Each module represents the thinking of subject matter experts about the best materials to assign and how to organize them to facilitate learning. We were able to run this situation three different times and therefore were able to apply different pricing strategies. Enterprise Rent-a- Car is a service company that offer rental vehicles to customers who 1 need a car because of an accident. To decide our initial strategy, first we analyzed the different types of research data. Since Miami is large market the underutilisation is a priority issue that needs addressing. Dr Tang's research interests include strategic marketing, sustainable competitive advantage, and consumer decision making. Car rental companies, Cheque, Credit card 266 Words 2 Pages Supply and Demand Simulation A simulation was conducted to understand supply and demand when renting out apartment homes.
External factors Universal Demand Behaviour Margins Capacity vs. They are struggling to break even, with relatively flat annual sales growth and thin margins. The focus is competition between two car rental companies with players inputting decisions for Universal. . Please see a copy of the Harvard Business Review in the Regent Library databases for examples. Car rentals garner a lot of interest from customers going on vacation.
This wide variety of options is exactly what allows small business owners to be so creative. The paper examines three scenarios where managerial decisions were made to pursue risk opportunities, reduce liability, increase sales, and reduce the time of outstanding account receivables in the Cash Cycle. Table 1 3 Month Data Week 1 2 3 4 5 6 7 8 9 10 11 12 Demand 126 200 243 167 132 211 243 1667 131 208 251 171 Table 2 Standard. Describe the economics of this business. Forthcoming Online Simulations include: -- Everest Leadership and Team January 10, 2008 -- Benihana Service Management April 2008 -- Strategic Innovation April 2008 To learn more, visit Universal Rental Car Pricing Simulation Authors: -- John T.