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Pricing to fit pricing of a gym
Pricing to fit: pricing of a gymName:
Professor:
Institution:
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Date:
Q1.Should gyms take a price or non- price competition focus? Justify your answer.
Non price competition focus is a pricing scheme that determines the cost of goods and services using the demand of the market. Suppliers do not have much control of the market due to the presence of various competitors. Quality is not a major factor when it comes to pricing in that the consumers opt to choose the lowest services provided. The aim in this type pricing competition is to receive the highest amount of sales so as to improve profits. Suppliers thus price their goods in accordance to the amount of profit they would like to make. These prices are compared to other competitors so as to derive the appropriate cost of the commodities (Ascola, 2011).
Price competition focus on the other hand controls the cost of the goods and services provided in the market. The market is made up of leaders and followers. Market leaders have the ability to determine the cost of goods depending on the quality of their products. These goods however have to meet some standards so as to be received positively by the market. This form of pricing considers the amount of money put into the production of the final product (Hooley, Piercy & Nicoulaud, 2008).
The analysis of the two factors displays that each price competition focus is designed for a particular service. A gym is essential to the modern market due to the demand for a healthy lifestyle. The demand for gyms continues to rise due to the demand for a healthier lifestyle in society. This places pressure on the market suppliers to have competitive prices so as to increase the number of consumers. Most communities have in place several gyms that provide the same type of services. This creates a market environment that prices its services according to that of their competitors. This means that prices are similar in different establishments due to the need to maintain customers. The use of price competition is not recommended because of the nature of the service provided. The use of non price competition is thus ideal for determining the price of a gym (Hackett, 2011).
Q2.Outline two internal (company) and external (market) that would impact on pricing gym membership in your location
One of the internal factors that would impact on the pricing of the gym membership in my location would be the qualification of the staff. Employees are an essential aspect of any company. Their contribution is ideal for the success the company due to the provision of services that attend the gym. Employees impact significantly on the pricing of the gym due to their relationship with the clients. Staffs that place priority on the needs of the clients generate the inflow of more clients which reflects on the inflow of the clients. The increased inflow of the clients determines the pricing dynamics of the gym (Eekhoff, 2003).
Another internal factor that impacts on the pricing of the gym is the management of the establishment. Proper management entails the smooth running of the gym programs in relation to the financial aspect that comes with the trade. Managers create an environment suitable for both the employees and clients making both parties benefit from the company. Management ensures that the prices are reflective of the type of services provided by the company. Proper management calls for the increased cost of services due to the quality of the services provided (Symeonidis, 2002).
One of the external factors that would impact on the pricing of the gym pricing is the prices of the competitors. Competition is a major determining factor of any market. Companies come up with prices through the analysis of the pricing of their competitors. If neighboring gyms pose as a threat to the success of the gym, the company is forced to compete through the reduction of some of the costs (Besanko, 2010).
Another external factor that would impact on determining the cost of the services is the influence of the legal and local authorities. All communities have rules and regulations that should be followed in all aspects of life. One of the areas of concern is the opening and management of business. Companies should ensure that all their activities are reflective of the prices determined by the government. This includes adhering to subsidized prices of goods and services in the market. Local authorities therefore play a significant role in the pricing of the gym prices (Fifield, 2007).
Q3. How would you as a gym manager overcome the problem of high membership churn?
High membership involves the registration of more than the required number of customers in a company. The overage of members attending a gym would seem like an advantage to the owners of the establishment due to the increased sale of the services. This however is not the case in that overcrowding of customers reduces the quality and productivity of goods and services. As a gym manager I would look for alternative ideas of solving these issues so as to maintain the required standards. One of the ways that I would overcome this problem is by monitoring the rate of registration on a monthly basis. This can be done by limiting the amount of registrations when the rate of interested consumers increases. One of the ways of limiting the registration is by increasing the charges for new entrants. This should be done carefully so as not to chase away future business (Drury, 2008).
High membership can also be controlled by ensuring that the space provided by the gym fits the number of members registered. The gym can accommodate a certain number of people during each session of the workout. If the space of the customers begins to become compromised managers are forced to observe the visiting patens of the customers. Establishing the peak hours is essential for the organization of the population of the gym. This can be done by studying the time that members are most active and looking for ways of controlling the inflow. The opposite should be done for the hours that are not competitive so as to gear some of the clients in the peak hours to change their schedule. This will ensure the proper regulation of the inflow and outflow of the members of the gym creating the proper management of gym membership.
In order to monitor the influx of new and repeat customers, the management can choose to partner with another gym so as to accommodate their extra customers at a commission. This would reduce the congestion in the gyms and the profit margins of the company (Gwartney, 2009).
References
Ascola, Drexl, J. (2011). More common ground for international competition law?. Cheltenham: Edward Elgar.
Besanko, D. (2010). Economics of strategy. Hoboken, NJ: John Wiley & Sons.
Drury, C. (2008). Management and cost accounting. London: Cengage Learning EMEA.
Eekhoff, J. (2003). Competition policy in Europe. New York: Springer.
Fifield, P. (2007). Marketing strategy: The difference between marketing and markets. Amsterdam [u.a.: Butterworth-Heinemann.
Gwartney, J. D. (2009). Economics: Private and public choice. Australia: South-Western Cengage Learning.
Hackett, S. C. (2011). Environmental and natural resources economics: Theory, policy, and the sustainable society. Armonk, NY: M.E. Sharpe.
Hooley, G. J., Piercy, N. F., & Nicoulaud, B. (2008). Marketing strategy and competitive positioning. London: Prentice Hall/Financial Times.
Symeonidis, G. (2002). The effects of competition. Cambridge (Mass.: MIT Press.
Test the readability of your newspaper in town
Title: Test the readability of your newspaper in town
Main Question:
What is the readability level of your hometown newspaper? Does national newspaper, such as USA Today, have higher readability level than your hometown newspaper?
Objective
The primary objectives of this project are to learn how to use random numbers to collect data, organize data, display data and write a statistics project report.
Activities
According to Dr. Fry’s Readability formula below, the readability of an article depends on the average number of words and the average number of syllables in a sentence. For an article if every 100 words have 8 sentences and 120 syllables in average, then according to the Fry Readability Formula, the readability of that article is at second grade level.
It was told that the readability of newspapers is lower than 5th grade level. This project is to test the readability of your hometown newspaper. In order to complete this project, you need to collect data from your hometown newspaper to know how many syllables and how many sentences in average per 100 words of your hometown newspaper. Notice that you need to use random numbers to get unbiased data to make a convincing conclusion.
1. Select a copy of newspaper. (Which copy of the newspaper is representing?)
2. Select articles of the newspaper. (Which articles of the newspaper are representing?)
3. Select 30 sentences from the articles you selected. (Which sentences are representing?)
4. Count number of words and syllables of each sentence. (How to count words and syllables of each sentence? (How many words and syllables for the phrase ’16 GB thumb drive for $24.95?’)
Your data should be a table as following:
Word count Syllable count
Sentence 1 Xxx Xxx
… Sentence 30 Xxx Xxx
Total Xxxxxxxx5. Create frequency distribution and histogram for your word count and syllable count.
6. Calculate average number of sentence and syllables per hundred words.
The total word count /30 = average word count per sentence
N = 100/average word count per sentence = number of sentence per 100 words
The total syllables count/30 = average syllables count per sentence
M = N*average syllables count per sentence = number of syllables per hundred words
Apply N as vertical coordinate and M as horizontal coordinate to the Fry Graph Readability Formula, you will find out the readability level of the newspaper.
Remark:
1. Document how your solutions of the question I suggest follow each activity to convince readers that your data are representing.
2. There is no right or wrong conclusion. As long as your research designs are logical and you can convince your readers, you have a good project.
The Fry Graph Readability Formula
Edward Fry developed one of the more popular Reading Formulas – the Fry Graph Readability Formula. Fry, who worked as a Fulbright Scholar in Uganda, also helped teachers to teach English as a Second Language (ESL) for a few years, from 1963 and onwards. During his early days, Fry developed readability tests based on graph [A Readability Formula That Saves Time, Journal of Reading (1968)]. This graph-based test determined readability through high school; it was validated with materials from primary and secondary schools and with results of other readability formulas.In 1969, Fry extended the graph to primary levels. In his book Elementary Reading Instruction in 1977, Fry extended the graph to test through the college years. Fry advised that an individual’s vocabulary continues to grow during college years, yet the reading ability varies depending on the individual and the subjects taught.
Title Procrastination and Emotion Management
Title: Procrastination and Emotion Management
Hook: Procrastination is a widespread common human behavior that we all suffer from. Most of us have been there, delaying homework assignments telling ourselves “I’ll do it tomorrow” before you know it, it’s the night before the assignments is due, sure, you had all the intentions in the world to submit the assignment days before. However, you sat there and decide instead to reply to work emails or maybe you decided instead to catch up with an old friend; hoping that by doing so you would be put in the ‘mood” to complete the task you have been putting off. In a meta-analysis “The Nature of Procrastination: A Meta-Analytic and Theoretical Review of Quintessential Self-Regulatory Failure.” By author Piers Steel, from the University of Calgary, states, “The voluntary delay of an intended action despite knowing that one will probably be worse off for the delay illustrated in the above scenarios is how research psychologists have defined procrastination.” (e.g., Steel, 2007) In other words, when we envision task that seem boring or difficult; we create negative feelings that can make us feel bad which make procrastinating worse than if you were to complete the task instead. Researchers have established procrastination is not a form of “laziness” or bad time management, there is a correlation between procrastination and emotion management. Dr. Tim Pychyl, professor of psychology and member of the Procrastination Research Group at Carleton University in Ottawa, states, “Procrastination isn’t a unique character flaw or a mysterious curse on your ability to manage time, but a way of coping with challenging emotions and negative moods induced by certain tasks” (Lieberman 2) The author further states that procrastination is an emotion management problem not a problem with productivity. Knowing that procrastination is dangerous deep down we know delaying these tasks will only continue to mentally torment us in the process of our procrastination, so, why do we continue to do this to ourselves? It is important to aim to shed light on the importance of managing emotions to not avoid feeling specific emotions. For these reasons, people should recognize that procrastination is a matter of emotion management because envisioning tasks creates specific negative emotions, so you avoid doing them creating short-term mood repairs.
Paragraph 1: Difficulty in managing emotions.
Topic Sentence: One reason for procrasting people should recognize is that procrastination is due to difficulty in managing emotions because certain task creates specific emotions. In a study “Overcome procrastination: Enhancing emotion regulation skills reduce procrastination” by expert for procrastination and stress, emotion regulation, communication and school psychology, Marcus Eckert states, “In an attempt to explain this widespread and potentially harmful phenomenon, several authors have proposed that negative emotions are an important antecedent of procrastination.” For instance, when people are sad or upset, they are more likely to procrastinate. Furthermore, research reveals “Increases negative feelings such as shame or guilt (Fee & Tangney, 2000), increases symptoms of serious mental health problems such as depression (e.g., Strongman & Burt, 2000)
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Paragraph 2: Short-term mood repair
Topic Sentence: Another reason more people should recognize it that procrastination is a short-term mood repair.
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Paragraph 3: rewire brain to rethink positive emotions of how you will feel when the task is over.
Topic Sentence: It is important to rewire your brain to focus on how you will feel when the task is over.
Quote #1: “This is why solutions to procrastination may involve tricking or rewiring the brain, by offering a bigger short-term reward than avoidance or by being purposeful with self-forgiveness when procrastination does occur.”
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Rebuttal: Some may argue that people should not fall into self-doubt/pitty. While this is an arguable statement it is important to consider not everyone has the same abilities to handle emotions on their own and may need additional support.
Conclusion: Overall, this essay discusses some of the major associations between procrastination and emotion management. Among causes of difficulty in managing emotions and short-term mood repair, it is important to first deal with these causes that have been given little attention or that more people should be aware of. This may include being more forgiving of yourself when you do find yourself procrastinating. Another tactic to better improve your procrastination may be practicing more self-compassion which can mean being more kind to yourself as Dr. Pychyl suggests.
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