Harvard Business Review: The Case of the Pricing Predicament #2
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Read the case study: The Case of the Pricing Predicament (link below).
Write a paper using Occidental Aerospace and Standard Machine Corporation as your examples and explain pricing approaches.
Which approach is Standard Machine Corp. using.?
Is this approach the best approach?
Analyze the sales pitch provided by Scott Palmer to the buyer, Joanne Braker.
Is Scott\’s communication effective?
If you were sales manager Tony Della Pena, what would you recommend and why?
In your analysis and evaluation, be sure to discuss and reference concepts from the textbook and required readings. Complete additional research in the CSU-Global library.
Your paper should be two to three pages in length, not including the cover and references pages, and conform to CSU-Global Guide to Writing and APA. Include at least two scholarly references in addition to the course textbook. The CSU-Global Library is a good place to find these references.
Case of the Pricing Predicament
Case of the Pricing Predicament Customer loyalty has become critical for businesses in today’s economy when margins are under pressure and customer acquisition costs are rising. Loyal customers help build a profitable business because they are more likely to stay with a company that treats them well and more likely to recommend it to others, becoming a highly credible volunteer sales force. They are more likely to buy additional services, further boosting their lifetime value. Repeat customers also cost less to serve due to shorter interaction times and lower outstanding receivables. Business analysts know that it costs a company much more money to get a new customer than to keep doing business with their existing ones. Thus, to be as profitable as possible companies are urged to have loyal customers that keep coming back again and again. Unfortunately, this is easier said than done, and focusing all of your efforts on keeping existing customers is a sure way to ruin your company as truth be told people don’t live forever and companies have to look to the next generation of buyers eventually. Standard Machine needs to determine how valuable Occidental Aerospace is to their business. Would it be more costly to lose their business, or would they lose more money in the long run by trying to maintain a customer relationship? If it’s determined that it is beneficial to keep Occidental, Standard should conduct further market research to determine if their price is competitive and of fair market value. The sales market is ever changing and its crucial to maintain competitive prices in order to remain in business. It is imperative to maintain an open dialogue with Occidental. Do they feel Standard’s product is the same or better when compared to the competition. What differentiates Standard’s product versus its competitors? Does Standard’s……
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