Essay
MNE3701 ASSIGNMEN T 4 2023
- Institution
- University Of South Africa (Unisa)
MNE3701 ASSIGNMEN T 4 2023
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By: muhammadozayrhassen • 1 year ago
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PASSMATE TUTORIALS passmatetutorials@gmail.comDISCLAIMER: THIS IS NOT AN OFFICIAL GUIDE FROM UNISA. THE REPORT IS NOT
PREPARED NOR APPROVED BY UNISA, RATHER REPRESENTS A POSSIBLE
SOLUTION TO THE TASK CONSISTENT WITH THEORY. THIS ASSIGNMENT IS
INTENDED TO ASSIST STUDENTS IN GETTING STARTED WITH THEIR ASSIGNMENT,
AND IN NO CASE THIS DOCUMENT SHOULD BE USED FOR CHEATING. WE BELIEVE
THIS WILL BE A GOOD STARTING POINT AS IT WAS PREPARED BY OUR TEAM OF
PROFESSIONAL PRIVATE TUTORS WHO ARE EXPERTS IN THE FIELD, AND IT WAS
PREPARED USING VARIOUS SOURCES. ANY SIMILARITY WITH ANY EXISTING
THEORY OR DISCUSSION BY OTHER AUTHORS IS EXCUSED. THE AUTHORS
HOWEVER DO NOT CLAIM MONOPOLY TO KNOWLEDGE HENCE MODIFICATION OF
THE ANSWERS CONTAINED IN THIS FRAMEWORK MAY NOT BE PROHIBITED AS IT
CONTRIBUTES TO EXPANSION OF KNOWLEDGE. FOR ANY FURTHER GUIDELINE
ABOUT THE INFORMATION CONTAINED HERE AND THE MODULE IN GENERAL,
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PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
, PASSMATE TUTORIALS passmatetutorials@gmail.com
Please note, this document contains excessively enough information, please
trim it to reasonable size roughly 7 to 14 pages, you many no use everything
also avoid the use of “you” which is featured in this document, you second
person reference in place of you, such as “the business, the company,
management etc”
You are good to go!
Having acquired sufficient knowledge and skills on entrepreneurship and small
business management, you must demonstrate practical competencies in
applying a pricing system and promotional planning. Think of any business you
would like to start and answer the following questions:
QUESTION 1
By using practical examples, critically discuss how you would applying a
pricing system in your business. (10)
The importance of setting a price is seen in the revenue equation in business. The
price of a product forms half of the total equation, where sales X price = revenue. A
small change in price can make a huge difference in revenue. The price therefore has
a dual influence on the total sales revenue: directly, as part of the gross revenue
equation, and an indirect impact on quantity sold. Bear in mind that because of the
complex nature of service pricing, this study unit focuses primarily on product (goods)
pricing. Because price equals total cost plus profit, a careful study of cost in a business
may keep the business from pricing too low. The concept “average pricing” is used
PASSMATE TUTORIALS 061 262 1185/068 053 8213/0717 513 144
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