Got a tricky question? Receive an answer from students like you! Try us!

Improving Decision Making - Essay Example

Only on StudentShare
Author : kennethkunze

Summary is a Fortune 500 worldwide company and a leader in online shopping. The portal carrying a diverse range of products, has been in the news not only for a successful e - commerce business model but also for a controversial revenue generation method called dynamic pricing (ramasastry, This form of pricing like discriminatory pricing or variable pricing is where the organization in question utilises internet technology tools like "cookies" and "click stream" tracking valuable data on a customer profile like purchasing patterns, financial resources etc to achieve a targeted revenue just like its feature for the customer to track their own browsing record (homepage, amazo…

Extract of sample
Improving Decision Making

The company's defence that the price was part of a "random price test" and could be refunded solidified the suspicion further it was into dynamic pricing activity, as similar instances were far too many. Just like the company offered $51 less by Amazon than its own usual price on a dedicated bargain website (ramasastry,
An analysis can be done from figures provided as quarter wise sales data, of a particular book sold through this portal, (Niles, R., It shows that the company had skimmed high earnings through a dynamic pricing policy in the first quarter sales. Eleven and twelve copies of the same book were sold at the prices of $11.02 and $11.50 each respectively while in the second quarter the same book sold sixteen and eleven copies each at the prices of $11.02 and $11.70 respectively meaning a highly elastic nature of the book's demand can be computed at a elasticity demand- coefficient of two, which is greater than unitary. ...
Download paper

Related Essays

Decision Making Research Paper
Ron felt the cost of buying that additional equipment is higher. As the machine has been bought a year back inclusion of these items should be of some use. It should not incur an extra cost. The equipments have to be effective in improving the machine's performance. Ron hesitated to accept the deal in the beginning. If the item is bought, there should be some savings in the cost.…
3 pages (753 words)
Improving Decision Making, DB
It is also possible that respondents may have thought of another state or nation which can be applied in the context or scenarios given.…
2 pages (502 words)
Decision making in business
Such studies indicated that successful organisations exhibited all of…
41 pages (10291 words)
Improving Decision Making Essay
Thus, in an aggressive effort to battle head on with Pepsi, the company thought that the most viable solution is to change and improve the taste of Coke. Thus, the company reformulated and created the New Coke. In a double-blind test conducted by the company, it appears that 60% of consumers prefer the new taste of New Coke to Pepsi (Kotler and Armstrong 2001). Thus, Coca-Cola dropped its classic formula and introduced New Coke as its flagship brand.…
2 pages (502 words)
Strategic Decision Making
There is no better appropriate timing and place other than this kind of TV appearance. Customers eagerly await such announcements when policy changes take place on the aftermath of old guard changing at the helm. The strategic significance of this decision lies in the fact that the new CEO has recognized the relevance and the importance of the TV as a medium of communication to target potential customers who otherwise would be clueless as to the future strategy of CH.…
10 pages (2510 words)
Improving Decision Making, DB
efuted that the reason why people often answer not-so-confidently on these questions was the fact that nations or states are all capable of conducting such actions. That is, since the choice of states to be answered are limited only to the Soviet Union and the US, the questions cannot really accurately determine that indeed, people cannot determine the difference between Soviet and American political actions. It is also possible that respondents may have thought of another state or nation which can be applied in the context or scenarios given.…
2 pages (502 words)