24 Jun You must save it as a Word .docx document, not
You must save it as a Word .docx document, not rich text format.
Do some brainstorming with your shareholders and answer the following questions:
Please answer in paragraph format, complete sentences and use the terms given when possible so that I know you understand the terms.
1) Explain why your organization is a for profit organization..
2) What are some preconceptions that consumers may have about price and quality?
3) What will be your strategy in reference to setting the price to establish value?
4) What can you do to make sure your golf pro gets paid by the consumer?
5) What can you do to make sure the golf pro does not consistently have clients that cancel practice?
6) What can you do to encourage purchasing a membership?
7) What can you do to get golfers to play in the off season?
8) What can you do to attract new golfers?
9) Should adults, children, and senior citizens all pay the same price? Why?
10) Should members have extra benefits? If so, what benefits will you offer?
11) Is it appropriate to charge for public service and why?
12) Is it appropriate to charge for merit service and why?
13) Is it appropriate to charge for private service and why?
14) Monetary Price- What are the costs to the golfer to participate in the sport?
15) Opportunity Price What are some of the opportunity cost to the golfer?
16) Psychological Price What psychological prices may the golfer incur?
17) Effort Price – What effort cost may a golfer incur?
19) Competitive Approach – What are some advantages and disadvantages to this approach?
20) Market Pricing
What are some advantages and disadvantages to this approach?
Uses a cost driver to determine the cost per unit. A cost driver is an activity that fluctuates with demand. It could be hours worked, machine hours used, miles driven etc. It is an activity that when changed, changes the cost.
Requirements: (F) Fixed costs must be known (costs that do not change
With the cost driver)
Ex Rental of a building must be paid no matter how
Much you use the building. Its cost is fixed.
(V) Variable costs must be known (cost that does change
With the cost driver)
Ex the more units are produced, the more hourly
Workers (cost driver) are needed.
(N) The activity driver the Number of units used or sold.
(Can be hours worked, machine hours used, miles driven etc)
(P) The price of the unit is what will be determined.
(C) Contingency rate adding a % to the cost for unexpected
Costs that arrive.
Pg 5
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