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Essay / Research Paper Abstract
This 3-page paper analyzes decision-making processes when it comes to pricing strategies of a food distribution company. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTfooddeci.doc
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Unformatted sample text from the term paper:
mode. The focus here involves the right decision-making when it comes to making such decisions. Because pricing is an important part of the marketing mix, well use pricing as an
example of a strategy that can be created by the company. Russo et al (2002) point out in their book about Winning
Decisions that any type of decision needs to rest first on gathering intelligence. Then, once the information in question has been gathered and considered, decision-making can commence. The authors caution
about any kind of biases when it comes to intelligence gathering - for example, our food distribution company needs to be careful about making any assumptions pertaining to what the
competition might or might not do in response to a decision made. Certainly the food distribution company needs to consider all options and scenarios that might come about in response
to moves undertaken - but there shouldnt be assumptions about one or the other. Lets say, for example, that the distribution company is
considering lowering its costs of distribution. The danger here is that intelligence would be gathered to "fit" this particular decision - the company might gather information that only points to
the fact that the competition has higher prices, while perhaps ignoring that the competition lowers prices for bulk shipping. This is the type of "selective" intelligence gathering that can get
companies into trouble. This, therefore, is the basis of gathering information to make a decision: Keep an open mind and be unbiased during the process.
Once that information has been gathered, Russo and his colleagues offer a number of tools with which a business can make decisions. One such tool is the Pyramid
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