JWI 515: Managerial Economics Academic Submissions and Evaluation
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Assignment 3: Price Discrimination Memo (Weight: 15%) Due: Monday 9 am (eastern), Week 8
Overview
Your boss has just given you an important, high priority assignment. The company’s core business product has shown steadily shrinking profitability and you have been asked to address the problem by coming up with at least two new pricing techniques. Your boss will meet with you at the end of the month to hear your proposal. Prior to the meeting, your boss would like to see a brief Memo that outlines your proposal and explains the impact it will have on units sold and profits.
Instructions
Develop a Memo of two to three pages for your boss. As a Memo is a succinct business communication, it is helpful to work through your ideas before writing the document. To prepare in this way, make notes, using the prompts in the Sample Outline provided at the end of these Instructions. When you are ready to proceed with writing your Memo, use the same Sample Outline to structure the sections of your Memo document.
Sample Outline
Use the following Outline of sections to organize the body of your Memo. Use the underlined headings as section headings in your document. Use the prompts in each section to make sure you include the required content. No Cover page is needed. Instead, use the following heading at the top of your Memo:
TO: Your Instructor FROM: Your Name DATE: Submittal Date RE: Managerial Economics 515 – Assignment 3 – Price Discrimination Memo
Introduction
Briefly introduce the overall purpose of the memo.
JWI 515: Managerial Economics Academic Submissions and Evaluation
© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 515 – Assignment 3 (1244) Page 2 of 5
Product or Service
Briefly describe your product or service:
What utility or benefit does it provide to consumers?
Has your company offered this product or service in the past?
Which competitors offer the same or similar products or services in the market?
How has you company tried to stay competitive in the past?
Price Discrimination Proposals
Briefly describe the first price discrimination technique that you will use:
What is the current price?
What will the new price be?
How will this technique generate more profits?
Briefly describe a second price discrimination technique that you will use:
What is the current price?
What will the new price be?
How will this technique generate more profits?
Impacts on Market Demand
Explain and quantify how your proposal will impact sales within the first three months.
o Quantify using your assumed logic and consider displaying the impact in a data table. If actual data is not available or not permitted by the company for use in this assignment, you may use hypothetical trends or data, based on your understanding of similar companies in the industry.
Explain and quantify how your proposal will impact sales within eighteen months.
o Quantify using your assumed logic and consider displaying the impact in a data table. If actual data is not available or not permitted by the company for use in this assignment, you may use hypothetical trends or data, based on your understanding of similar companies in the industry.
What could the company do differently, as a result of the increased sales?
JWI 515: Managerial Economics Academic Submissions and Evaluation
© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 515 – Assignment 3 (1244) Page 3 of 5
Conclusion
Write a brief conclusion, summarizing the key points of your memo.
References
Professional Formatting Requirements
• Typed, double-spaced, professional font (size 10-12), include headings and subheadings, with one-inch margins on all sides
• In place of a Cover Page, provide the following heading at the top of Page One of your Memo:
TO: Insert Professor’s Name FROM: Insert Your Name DATE: Insert Date Submitted RE: Managerial Economics 515 – Assignment 3 – Price Discrimination Memo
• Include a References page that enables the reader to locate original sources. Application and analysis of
course materials and resources are expected, and additional research is welcome
• The References page is not included in the required length of two to three pages
JWI 515: Managerial Economics Academic Submissions and Evaluation
© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 515 – Assignment 3 (1244) Page 4 of 5
RUBRIC: Assignment 3: Price Discrimination Memo
CRITERIA
Honors
High Pass
Pass
Low Pass
Unsatisfactory
1. Describe the product or service, its history, and the competition, using appropriate economic terminology.
Weight: 25%
Product or service is exemplarily described using appropriate economic terminology. The product or service history and the competition are also exemplarily described.
Product or service is thoroughly described using appropriate economic terminology. The product or service history and the competition are also thoroughly described.
Product or service is sufficiently described using appropriate economic terminology. The product or service history and the competition are also sufficiently described.
Product or service is partially described using appropriate economic terminology. The product or service history and the competition are also partially described.
Product or service is not described using appropriate economic terminology, and/or the product or service history and the competition are not described.
2. Provide at least two specific proposals for price discrimination and explain how the proposals will generate more profits.
Weight: 30%
Two or more specific proposals for price discrimination are provided with exemplary detail and the student has exemplarily described how the proposal will generate more profits.
Two or more specific proposals for price discrimination are provided with thorough detail and the student has thoroughly described how the proposal will generate more profits.
One specific proposal for price discrimination is provided with sufficient detail and the student has sufficiently described how the proposal will generate more profits.
One specific proposal for price discrimination is provided with partial detail, and/or the student has partially described how the proposal will generate more profits.
Specific proposals for price discrimination are not provided, and/or the student has not described how the proposal will generate more profits.
3. Explain how implementing your proposal is expected to impact consumer demand.
Weight: 25%
Proposal’s impact on consumer demand is exemplarily explained, including sales for the first three months and within twelve months. The student has exemplarily explained what increased sales would enable the company to do differently.
Proposal’s impact on consumer demand is thoroughly explained, including sales for the first three months and within twelve months. The student has thoroughly explained what increased sales would enable the company to do differently.
Proposal’s impact on consumer demand is sufficiently explained, including sales for the first three months and within twelve months. The student has sufficiently explained what increased sales would enable the company to do differently.
Proposal’s impact on consumer demand is partially explained, including sales for the first three months and within twelve months. The student has partially explained what increased sales would enable the company to do differently.
Proposal’s impact on consumer demand is not explained, including sales for the first three months and within twelve months. The student has not explained what increased sales would enable the company to do differently.
JWI 515: Managerial Economics Academic Submissions and Evaluation
© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. JWI 515 – Assignment 3 (1244) Page 5 of 5
CRITERIA
Honors
High Pass
Pass
Low Pass
Unsatisfactory
4. Student writes a good Conclusion; makes good use of Sources (References)
Weight: 10%
The Conclusion is excellently written; Sources are numerous and used in an exemplary fashion throughout the paper.
The Conclusion is very well written; Sources are numerous and used effectively in the paper.
The Conclusion is satisfactorily well written; multiple Sources are used in the paper.
The Conclusion is partially adequate; some appropriate Sources are used in a few parts of the paper.
Poorly written or no Conclusion; minimal or no Sources are used.
5. Clarity, logic, writing mechanics, and formatting.
Weight: 10%
Few to no mechanical errors; text flows and concisely, clearly, and exemplarily expresses the student’s position in a manner that rationally and logically develops the topics.
Few mechanical errors; text flows and concisely and clearly expresses the student’s position in a manner that rationally and logically develops the topics.
More than a few mechanical errors; text flows but lacks conciseness or clarity; assertions and conclusions are generally justified and explained.
Several mechanical errors make parts of the text difficult for the reader to understand; the text does not flow; the discussion fails to justify conclusions and assertions.
Multiple mechanical errors; much of the text is diffic
