BUSN 6120 Managerial Economics

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BUSN 6120 Managerial Economics

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BUSN 6120 Managerial Economics

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Course Code: BUSN6120
University: Webster University

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Country: United States

Question:

I want presentation on Empirical article presentation (PPt):(Title appropriate to content: use of quantitative or qualitative data)
 
The topics of this what we have in the syllabus such as:1- Optimization.2- Quantitative Demand Analysis ( Demand and supply)Or any topics related to managerial economics or any chapters.

Answer:
Introduction

Managerial economics helps to obtain efficient goals
This part of economics deals with pricing and production strategy of a firm (Hirschey, 2016)
Managerial economics can be applied in both non-profit and profit sectors
This presentation will discuss about pricing strategy of any business organisation
Pricing strategy 
Pricing strategy implies the method where companies set price for their products
For setting price on a product, a firm considers entire costs of production
The strategy includes a small share of company’s profit (Nagle & Müller, 2017)
Pricing strategies are of various types:  Penetration pricing, discount pricing etc
Background
Pricing strategy of a firm is referred as policy
Through this policy a firm decide to impose different prices  for different products
This strategy helps a firm to obtain certain market outcomes based on certain price
The micro-foundation related with pricing strategy indicates about international human action (Nagle & Müller, 2017)
Objectives
The chief focus of this presentation is to observe that how different assets and routines  can influence pricing strategy of a company
For this a research work on the European packaging industry is selected
The entire study focuses chiefly on the role of individual judgement, commercial experience and human capital
Related ideas  
The selection and implementation of pricing strategy is considered as an optimization problem
The firm intends to select most profitable strategy related with price based on some external determinants
However, this procedure incurs some costs and follows complex activity
Structure
The entire study has cindered three case studies on European Packaging Industry
Each case study has different design and each of them are operated independently
The pseudonyms of these three cases are CaCo, OppCo, and PremCo,
After selecting these three cases, the paper has conducted data collection process, data analysis, analysis and drawn conclusion and limitation
Methedology 
At first, the paper has selected cases to analyse pricing strategy
For this multiple case study, cases are selected in such a manner that they could replicate either similar production or contrary outcomes due to predictable reasons
Explorative interviews have been conducted at mangers level
Data Collection
The selected business companies are located in three distinct location
The data for each case was conducted through visiting each site minimum two days
All case studies have followed protocol of pre-defined case study to specify the procedure of data collection and data sources
Protocol are formed in a generic way
Other Consideration
For analysing each case study, the researcher has considered theoretical concepts along with contextual factors
Those concepts are implemented in individual cases and to obtain information from previous case
The paper has assured that data collection has become exhaustive based on theoretical concepts
Other essential categories are considered as consistent throughout the study
Policy implication  
The outcome of this study implies that firms have committed various assets configuration, activities and routines for enabling the pricing policy implementation
These policies are related with price discrimination, opportunity leverage and price elasticity
Some policies are provide related with human capital investment, designing proper analysis and maintain a perfect balance between organisation control and capacity regarding information process
Likes and Dislikes  
The entire study is limited within single pan-European industry
Information related to other industries of other countries are missing
The study does not consider the concept of negotiable prices
Conclusion
The study has obtained various forms of factors enabling for differing pricing strategy
Factors have importance to implement pricing strategy based on industrial market
These market concept includes judgmental as well as commercial experience
Many important relationship have been found regarding importance of human capital, design and set up commercial organisation and detail information on product costing
References
Hallberg, N. L. (2017). The micro-foundations of pricing strategy in industrial markets: A case study in the European packaging industry. Journal of Business Research, 76, 179-188.
Hirschey, M. (2016). Managerial economics. Cengage Learning.
Nagle, T. T., & Müller, G. (2017). The strategy and tactics of pricing: A guide to growing more profitably. Routledge. 

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