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Competitive Pricing Strategies: Recognize the concept of the business organisation operating within the parameters of a changing external environment Custom Essay

(In this task, you must answer three parts in below , first and third parts are in Eassy Format,(both max 500 words) second part in report format please (max 500 words)
2.1 Competitive Pricing Strategies assessment brief

This assessment asks you to apply your learning so far about the marketing mix, in particular pricing, along with supply and demand in the airline industry. The task accounts for 10% of your marks in Phase 2.

Learning Objectives
This task will help you to:

• Recognize the concept of the business organisation operating within the parameters of a changing external environment
• Demonstrate an awareness of current issues, facts and events in the national and international business world
• Collect, evaluate and use information from published sources to assess a problem, select the most relevant information and use it to propose solutions
• Understand the differences between a report and an academic essay
• Use appropriate referencing

The Task
You are to write a response in three parts to cover the points listed below:

1. In essay format, explain the role of pricing within the marketing mix (maximum 500 words).

2. Visit the Ryanair web site and check the price of a one week return ticket from London (Luton) to Dublin for each of the following:
a. Leaving the following day on the closest flights you can get to 7am, 1pm and 6pm
b. Leaving in 10 days time on the closest flights you can get to 7am, 1pm and 6pm
c. Leaving in 30 day’s time on the closest flights you can get to 7am, 1pm and 6pm
d. Leaving in 3 month’s time on the closest flights you can get to 7am, 1pm and 6pm
Include a screen print from the Ryanair website and using report format explain any differences that occur within the day and between the different departure dates. Use a graph to illustrate this (maximum 500 words).

3. Visit the British Airways website and check the prices from London (Heathrow) to Dublin, for the same departure dates and on the closest flights you can get to 7am, 1pm and 6pm

In essay format, compare and contrast the pricing strategies of Ryanair and British Airways on the London to Dublin routes (maximum 500 words).

Resources
• The Chapter on “Demand and the Consumer” which you will find in Volume One p 269 of the textbook
• A Video on the economist’s view of pricing which you will find in the Reading Week 1 – Learning Block on the Business Pod BREO site
• Information in the Study Hub Online on essay writing, report writing and referencing

What are we looking for?

To pass this assessment you MUST:
• Attempt all three parts of the question
• Correctly identify the flights for which you are asked to find prices

T o achieve a higher grade in this assessment you SHOULD:
• Provide accurate and complete referencing
• Give responses which clearly address each of the three sections demonstrating good understanding of how pricing works in the airline industry
• Include a correct and appropriate graph
• Demonstrate an understanding of the role of pricing in the marketing mix and an ability to apply this understanding to Ryanair and British Airways

To achieve a grade at the highest level you COULD:
• Display your understanding of the differences between essay and report format
• Demonstrate an understanding of how the theory of supply and demand is demonstrated in the pricing of these trips.

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