Department Of Hotels And Hospitality Management and Marketing - 3025 Words

Department Of Hotels And Hospitality Management: Introduction To Marketing (Essay Sample) Content: MOI UNIVERSITYSCHOOL OF TOURISM,HOSPITALITY AND EVENTS MANAGEMENTDEPARTMENT OF HOTELS AND HOSPITALITY MANAGEMENTCOURSE TITLE:INTRODUCTION TO MARKETINGCOURSE CODE:BHM 113SUBMITTED TO:Ms.SCHULZ R.DATE:6/7/2018GROUP SIX MEMBERS:BHM/0007/18 CHELAGAT MERCYBHM/0018/18 KHAEMBA N.SUSANBHM/0031/18 MBUGUA ANN NGINABHM/0042/18 NDIBA SIMON MUNGAIBHM/0053/18 PURITY MUKAI MACKENZIBHM/1003/18 GETRUDE JEPKEMOIBHM/1019/18 CHRISTINE MUNYUABHM/0059/18 WAMBUGU CHRISTINE WANGARIBHM/1008/18 OCHIENGI MOSES LLOYDQUESTIONS.1.Explain the term pricing.2.Discuss the factors that affect pricing of hospitality products.3.Pricing a new products usually challenging in a company. Explain the strategies of pricing a new product.4.Explain the major objectives/importance of pricing.1.Explain the term pricing.Price is the value that is put to a product or a service and is a result of a complex set of calculations ,research and understanding and also taking risks ability.Pricing is a process whereby a bus iness sets the prices at which it will sell its products and services:in setting prices,the business will take into account the price at which it could acquire the goods,the manufacturing cost,the market place,competition,market conditions,brand and quality of products.Pricing also refers to giving monetary value to products and services.Pricing method is used to set the price of producers offerings relevant to both the producer and the consumer.Some of the pricing objectives are;1.Survival-firm set the price that is optimum and help the product or service to survivein the market.2.Maximizing the current profits-pricing is done in line with the products demand in the customers and the substitutes available to fulfill that demand.3.Capturing huge market share-charging low prices so as to have an increased sales resulting to economies of scale.4.Market skimming-charging a high price to products and services offered by firms which are innovative and uses modern technology.5.Product-man y firms keep their goods and services in accordance with the quality perceived by customers.2.Discuss the factors that affect the pricing of hospitality products.1.Competition.Hospitality establishments often consider the price on offer by other competitors to help them make decisions on pricing that will keep them competitive.2.Government policies.Laws and regulations do have an impact on pricing as government may sometimes interfere in pricing of hospitality establishments directly or indirectly.For instance an increase in taxation will result in an increase in prices and while an increase in value added tax of products used by establishments will result in an increase of prices as well.3.CostsThe hospitality establishment must be a financial informed.Thus before setting the prices,costs involved with the business must be worked out.These include fixed costs (espenses that will come in every month regardless of sales)and direct costs(the expenses incurred by producing and deliveri ng the products and services)4.Consumers.What the consumer want from product or a serviceis critical i.e are they driven by cheapest price or by the value they receive?By also looking at what your current customers are buying whether high end or low end products ans services.This information helps in setting up the right price for products and services.5.ProfitAfter calculating the costs involved in preparing the product or service the establishments then adds value to ensure they earn a profit to keep them competitive thus increasing the price.6.Market demand.If demand exceeds supply there is a mad rush for the few available products thus intiating the price of a product and vice versa.7.Demographics.This include determining characteristics of your target consumer for example the age bracket of market among others.8.Class of targeted customers.The society has three generally recongnised classes of people the rich,the middle class and the poor.Thus a product targeting the rich will command a higher price than those targeted for the middle and lower classes.9.Economic factors.Factors such as taxation rate,labour cost,inflation rate,currency exchange rate,government fiscal and monetary policy will definitely influence the product pricing strategy.10.Brand strategy.Pricing is art of establishments brand image.For instance ,some establishments are known for their low pricing whereas others are known for their high end pricing.11.Channel intermediaries.The marketer must consider a number of channel intermediaries and their expectations.The longer the chain the chain of intermediaries ,the higher would be the prices of the goods.12.Image of the firm.The price may also be determined on the basis of the image of the firm in the market.13.Promotional activity.Undertaken by the firm also the prices.If the firm incurs heavy adversting and sales promotion costs,then the pricing of the product shall be kept high in order to recover the cost.3.Pricing a new product is usual ly challenging in a company .Explain the strategies of pricing a new product..Challenges facing organisatons face in pricing.1.Lack of internal alignment on the objectives within a company and between the different functions concerned.Not sharing the same definition of expectations and goals across the different functions involved in pricing generates missed opportunities to enhance business performance.When different departments have objectives that are in dire guide conflict,it results to missed opportunities to enhance profits.2.An ineffective pricing governace or lack of policies that guide pricing in the field.This is generally due to limited visibility as to what is the true price realized by the direct force or indirect sales channels.There is also a risk of having excessive or unnecessary discounting,jeopardizing,the intergrity of prices charged to similar customers buying the same volumes.3.Market misperception of the pricing related to the value delivered.If your customer s don`t understand the value of your products and services ,there is a strong likelihood that will push back on your prices.4.Misaligned offer and related prices across the different customersor segment served.Many companies fail to adapt their offered as they served different customers who have varying value requirements.Some might want high value and will be willing to pay for this while others want less value and seek for a different price.5.A new product or service iinovation that is not oppropriately priced .Launching a new product or service presents many risks and companies have in general low chances of success.However,when companies don`t properly understand the value of your innovation and prepare the pricing well,the failure rate of new product rises sharply.6.Gaps in capablilities and enables in managing pricing.Companies have different levels of maturity when it comes to pricing.Organisations that are building their own pricing capabilities and that have a senior mana gement focused on pricing achieve better business performance..Strategies of pricing a new product.1.Premium pricing.Business sets costs higher than their competitors.It often most effective in the early days of small business that sell unique goods.Because customers need to perceive products as beibg worth the higher price tag,a business must work hard to create a value perception.They used also ensure their marketing efforts,the products packaging and the store`s dcor all combine to support premium pricing.2.Penetration pricing.This aims to attract buyers by offering lower prices on goods and services while new business use this technique to draw attention away from their customers.Penetration price close tends to result in an intial loss of income for the business in the long run after sufficiently penetrating a market,business often wind up raising their prices to better reflect the state of position within the market.3.Economy pricing.This stratergy minimizes to cost associate d with marketing and production in orders to keep product prices down.As result ,customers can purchase the products they need without frills.Economy pricing aim to attract the most conscious of consumers.4.Price skimming.This involves setting rates high during introductory phase,the company then lowers prices gradually as competition goods appear on the market.One of the benefits of price skimming is that it allows a business to maximize profits on easy adopters,it helps a small business recoup its development cost and then also it helps in creating an illusion of quality and exclusivity when item is first introduced into the market.5.Psychology pricing.It involves technique which marketers use to encourage customers to respond to their emotional levels rather than logic ones .It assumes that customers tend to put more attention on the first numbers on price tag than the last.The goal of psychology pricing is to increase demand by creating on illusion of enhanced value for the cust omers.6.Bundle pricing.With this stratergy ,business sell multiple products for lower rates than consumers would face if they purchased each item individually .Not only is bundles goods an effective way of moving unsold items that are upspace in your facility but it can also increase the value of perception in the eyes of your customers since you are essentially giving them something for free.Bundle pricing is more effective for companies that sell complementary products.4. Explain the major objectives /importance of pricing?IMPORTANT OBJECTIVES OF PRICING.Pricing strategy begins with determination of objectives. Pricing objectives reflect The...

Friendship Is a Real Treasure

Friendship Is a Real Treasure When the world seems to turn upside down, when your life seems to be totally ruined – the only person we can rely upon during these tough times and the only shoulder we can cry on without any uneasiness is our friend. I got used to believe that friendship is an everlasting phenomenon and it is truly forever. I stick to the opinion, that true friendship is never-ending. Life is unpredictable and we never know what may happen tomorrow. I’ve a lot of friends but only few of them are real. We’ve gone through many difficulties together and now my heart is aching at the thought that we are living in different countries because of life circumstances. Together though miles apart – that’s the motto of our friendship! When you are bounded by true friendship you won’t mind the distance! You can always join such friendship networks like MySpace or Facebook and be sure that you can always stay in touch with your dear friends! Very often I use the famous quote of David Tyson that goes, â€Å"True friendship comes when the silence between two people is comfortable†. Friendship starts when you know what the person next to you is going to say. Sometimes it’s enough to just hold a hand and everything becomes clear without words. In the hour of desperation and sadness a true friend will stand by your side whenever you need him/her. If you have at least one true friend you may consider yourself to be the luckiest person on the Earth! However, the best way to know what the friendship is – is to become a good friend yourself!

Medea Essay - 1654 Words

Susan Smith murdered her own two children in 1994. Kathleen Folbigg killed her only child in 1998. Caro Socorro killed her three children in 1999. And in 431 B.C. the fictional character, Medea, murderedmurdured her own two sons. When hearing about these extreme atrocities we are repulsed. What sane mother could murder her own children? But thats just the point isnt it, no sane mother would kill her own young. No, each of these women had underlying psychological issues that led to them committing these unnatural, morally wrong acts. Susan was rejected by her lover, Kathleens father had brutally murdered her mother, Caro was a victim of a failed marital relationship, whilst in Euripides play, Medea was not only rejected and a victim of a†¦show more content†¦The shocking addition of having a mother slaughter her own children makes a dark story even darker, it deepens the revenge and shocks the moral of the audience. Euripides manipulates the audience through traditional Greek play techniques to increase the intensity of the revenge, by playing with our thoughts and inviting his audience to question the way their society lives. Through the Chorus of Corinthian women Euripides directs the audiences view of Medea. Throughout the play the Chorus voices their opinion, influencing the audience to their point. Originally the Chorus celebrates Medeas desire for revenge, chanting â€Å"To punish Jason will be just† (line 267, p. 25), the audience agrees with the Chorus, Jason should be punished. Once the Chorus become aware of her intentions they turn against her, attempting to make her see reason and in the final ode they condemn her while acknowledging that her actions are the manifestation of a greater power and thereby re enforce Euripides tragic theme. The Choruss 5 stasimons and short interventions during the play direct the audiences thoughts and opinions. As a tragic heroine Medea is a creation unique to Euripides, the psychological study of a wom an entirely consumed by love and hate. He reminds us that her love for Jason resulted in the betrayal of her father, the murder of her brother and the murder of Pelias. Rejected, mocked and betrayed, her pride and hatred of Jason cause the destructionShow MoreRelatedMedea1328 Words   |  6 Pages Is Medea Justified In Her Actions? Is the killing of anyone ever justified? Is the life of one individual more important than another? In Euripides, Medea, Medea kills the princess of Corinth, the king of Corinth, Creon, as well as her own children. Are her actions the actions of an insane, distraught person or those of wise, foreign, barbaric woman trying to protect her children? Through the story of Medea, Medea justifies the killing of others while several other characters portray theRead MoreAnalysis Of Medea813 Words   |  4 Pagesfear. 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The themes that the story of Medea presents are very practical and still continue to exist in humanity today. The three largest and most obvious themes that a reader is most likely to find and relate to while reading Medea areRead MorePassions In Medea1295 Words   |  6 Pagesthan they do in the modern age. Passion in the ancient world tended to have a negative connotation. Often, ancient passions led to sins or unhappiness. In Greek mythology, divine beings could not control their passions as Euripides wrote about in Medea. However, Buddhists see passions as undesirable, and they take steps to suppress their passions to achieve enlightenment. Christianity instructs followers to control their passions, however they do not restrict them to the extent that B uddhists doRead MoreMedea, By Euripides The Catcher Of The Myth Of Jason And Medea1176 Words   |  5 PagesPlaywright, Euripides, composes the tragedy, Medea, on the bases of the myth of Jason and Medea in around 400 BC. 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Autobiographical History of Learning Essay Example For Students

Autobiographical History of Learning Essay This is an autobiographical outlook at my personal achievements. The people who had a huge influence in making me the women that I have become today. The many who influenced my career and the path that I have chosen. It is also a reflection of my strengths and weaknesses. I have divided this biography into the following: childhood, adolescence, my first experience in the world of work, building my career as a trainer in the IT field, learning about industry as a freelance trainer, and rethinking my career. Childhood â€Å"There is no such thing as a ‘self-made’ man. We are made up of thousands of others. Everyone who has ever done a kind deed for us, or spoken one word of encouragement to us, has entered into the make-up of our character and of our thoughts, as well as our success† George Matthew Adams Being the youngest of three siblings I ended up living alone with my father from an early age. I remember my mother taking me to pre- school on my first day, but sadly my parents divorced and soon after my mother was no longer a part of my everyday life. My father was an Accounts inspector and worked for a very reputable furniture company at the time. Although he was a collar and tie guy, he was a very hands – on person. He was also extremely good at appraising people especially me. Some mornings before school he would have me make some entries on his work documents example; entering dates and together we would add up numbers and I would enter the totals. This made me a confident little girl who developed a love for numbers and puzzles. I remember when he would do little jobs I was always his assistant, from hanging doors, to painting, to even fixing his car he always had me around learning. Looking back I realize not only did he groom me for the business world, but for life in general. He was extremely strict but a loving and devoted father. The disadvantages of growing up without my other siblings taught me to be a loner and independent. Adolescence â€Å"Know thyself. Chilo (BC 560) My high school years came and went within the blink of an eye. When I was thirteen life decided to throw me a curveball. My Father decided to remarry and I was shipped off to live with my mother and three other siblings ages 27, 19and 16 . This was an terrifying experience to say the least, however the advantage of living with my mother was that she taught me marketing at an early age. Weekends starting Friday afternoons I would go door to door selling spices and toddlers garments. I would also scrub, wash and polish neighbor’s floors and do other house hold duties for pocket money. She always said nothing in life is free. My mother was an excellent cook and you don’t need to look very far to know where I got my culinary skills from. And I’m sure my beloved mother tried her best to make me happy , and to fill that emptiness I felt inside of me. However at the age of fifteen all that hurt, confusion and anger was extremely overwhelming and led me to run away from home. I quickly learned that life was no bed of roses and being on my own and at the mercy of other people was not the life I had pictured for myself. Running away was not going to make it better. My father was the centre of my universe and even though I loved my mother, my father and I shared a much deeper bond. At the age of sixteen I returned home. I can still hear my father saying to me: Do you want to end your life at the age of eighteen? Whatever happened to I want to see the world? When all my friends were just starting to enjoy their lives, I fell pregnant with my eldest daughter. I’ll never forget the look of sadness, disappointment and regret in my father’s eyes. Although his main concern for me at that time was, what the impact of having a child at that age would have on my future. For him it was as if all the hopes, dreams, and potential he knew I had seemed to have vanished. I only realized that many years later, being a parent of two teenage daughters. The lesson I have learned was the importance of being able to Adapt to change and that our beliefs and perceptions about what is right or possible prevent us from exploring new solutions. King Lear Assignment EssayI had a contract with two major IT service providers Mcot and Smart source centre. What was funny was the fact that these two companies were based in Johannesburg so I never got to meet my employees at all. Everything was done via the internet or telephone, as well as electronic mail. I trained at Transnet, Edcon-group, and banks. These were just a few of the corporate companies I have trained at. The training consisted of me showing them how to do end user up until stress management. If I thought working in a textile or clothing factory was a challenge I couldn’t have been more wrong. Being a trainer in the corporate world this was a real challenge. At the college I had half hour sessions four days a week. I now had to teach everything I’ve learnt in one or two sessions at the most leaving me little time to bond with my students. My target group also differed. I was now dealing with freshman; school leavers, working class, middle class as well as the upper classes. I also did training with a few executives. I was now in the big leagues the movers and the shakers. I developed many skills, communication skills, social skills dealing with corporate executive officers of major companies. Who would have thought that this girl who wanted to end her life and who ran away from home had gotten this far in life which brings me to the next chapter in my life going solo. Rethinking my Career After two years as an independent IT contractor, I decided it was time to open up my own training centre and start helping my community. This was not going to be an easy task not only would I have to register my business but because it involved IT I would have to get me computers too. I decided to sit and plan what it all would entail. First I had to acquire office space to present my classes. Then follow this up with students who were going to need contracts, install computers, do my own administration. I would have to get advertising, see clients which meant I would have to get a driver’s license and eventually get a car. I would have to then work out my overheads. This would include petrol phone bills stationary and rental. The longer the list became the more I realized what I am getting myself into. I found myself as a single parent with two kids starting a business. How was I going to juggle my time between my work and family? Was I taking on too much of a responsibility trying to uplift a community be that as it may my life revolved around taking on challenges, helping other people to empower themselves and help them to grow as individuals. Conclusion Being from an impoverished community where abuse, HIV, gangsterism and drugs are rife, what better way to give back than providing them with life skills. If I could teach a group of executives, why not the youth of the community, psychologically and mentally by helping them to gain knowledge and become independent just like I did at their age. All this could not have happened had I not had this love for people. Looking back over the years at my careers it seems as though I have always been helping other’s to make sense of things. Throughout my life I have always built on skills that I acquired and moved on to the next level. I have always been interested in human behavior, and my next goal is to pursue a career in the psychology field. The decision to pursue a degree in psychology began just before the birth of my last child. I can clearly remember that overwhelming emotion as if it was yesterday, when I became driven by something new. Things started to fall into place, and I declared myself ready to live a more meaningful and purposeful life.