Introduction: The simulation developed a knowledge of pricing by managing a rental car operation in Florida and developing a pricing strategy keeping the competitor in mind. The simulation involved three regions Oriando‚ Tampa and Miami‚ which vary in market dynamics‚ size and customers. The focus is competition between two car rental companies and the simulation last up to 12 months. I had to set weekday and weekend price for the entire three regions for each month and make a fleet decision. Description:
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I volunteered to be an observer for the Everest Simulation‚ and I learned a lot by observing participants interact with one another. As I walked around each group‚ I quickly realized that I wasn’t going to learn as much about the simulation by observing each group; I had to focus on one team and observe their work. As a result‚ I watched one team and learned many important management skills‚ such as leadership‚ planning and controlling‚ setting team and individual goals‚ and communication. The
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approach such as the nations’ economy or the GDP. Nevertheless‚ both micro- and macroeconomics provide fundamental tools when studying the economy. This paper will discuss the examples of the supply and demand curves as they were presented in the simulation. In addition‚ factors affecting these curves such as changes in population‚ government‚ employment‚ and trend all take part in shifting these curves causing pricing or rental rates to increase and decrease accordingly. The concepts of microeconomics
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Philippine Airlines‚ Asia’s first and oldest airline‚ started its operations in 1941. Since then‚ the Philippines was opened up to foreign countries and foreign trade. The Philippine Airlines opened up the country to tourism. It thrived from 1970s to early 1980s but during the mid-1980s‚ the tourism growth slowed down dramatically compared to other neighbouring Southeast Asian countries. Despite the Philippines’ huge head start‚ it was left behind. How did this happen? The Philippine government
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Supply and Demand Simulation Summary University of Phoenix ECO360‚ Economics for Business I The Supply/Demand simulation involves acting as property manager for GoodLife Management in the fictional town of Atlantis. GoodLife Management manages seven apartment complexes in Atlantis. The property manager is expected to adjust the monthly rental rate of two-bed rental apartments and the quantity of apartments supplied based on the market trends. Factors that influence the supply and demand
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AEROSPACE MANUFACTURING INDUSTRY GM 105 Professor Hatton December 11‚ 2009 ___ Report Completed By: Sarah Gregory Leslie Horton Staci Miles Lauren Rolson Marcin Skubala TABLE OF CONTENTS INTRODUCTION 4 BACKGROUND 4 DOMINANT ECONOMIC INDICATORS 5 1. Market Size 5 2. Scope of Competitive Rivalry 6 3. Number of Companies in the Industry 7 4. Customers 8 5. Ease of Entry/Exit 8 6. Technology/Innovation 9 7. Product Characteristics 10 i. Government 10 ii. Commercial
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The purpose of this paper is to summarize the International Trade Simulation‚ explain the basic concept of International Trade‚ emphasize the four key points from the reading assignments in the simulation‚ and apply these concepts to my workplace. Simulation Summary In the International Trade simulation‚ you are the Trade Representative of a small country called Rodamia. You are introduced to international trade--the theory of comparative advantage and the impact of tariffs‚ quotas‚ and dumping
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Supply and Demand Simulation Thomas Alejandro ECO/365 February 17‚ 2014 Mubarak Laminu Supply and Demand Simulation The supply and demand simulation is based on the management of rental apartments by GoodLife Management in the fictional town of Atlantis. Atlantis is a small city with open spaces‚ low population‚ and a low crime rate. There are plenty of sidewalks and street systems for easy access to the highway. The housing in Atlantis is detached
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Norwegian airlines started its operations in 1993 on a regional basis‚ however‚ only appeared on the market as a low-cost carrier on a small scale in 2002. The company is currently operating a mixt fleet of Boeing 787 and Boeing 737-800’s aircrafts. Now‚ Norwegian Airlines are holding eighteen destinations across Europe and USA. Norwegian Airlines succeeded to launch low-cost long haul flights from Gatwick to USA‚ and are currently awaiting AOC approval to launch flights from Ireland to US. This
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Over the past three weeks in the University of Phoenix Marketing Management class‚ I have completed three simulations based on real life marketing situations. The first simulation was titled‚ "Forecasting Market Demand." This simulation discussed the importance of determining the future demand for your product in the voice commanded software industry. The marketing team for the new Listensoft software needed to accurately forecast the production capacity of the new product and the pricing strategy
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