Product Innovation and Pricing Essay Example | Topics and Well Written Essays - 1000 words

Product Innovation and Pricing - Essay Example The camera has an automatic mode which will enable reasonable quality photographs by even people with minimal knowledge of the subject. The price at less than $300 is attractive by market conditions. Here is a camera for the amateur photographer which is easy to carry and to use, with the potential to take sharp and good quality photographs with simplicity. The camera is clearly on the upper right quadrant of a VO Grid, and has the potential to participate aggressively in the emergent mass market for basic digital cameras for amateur use. The Canon Power Shot S3 is a study in contrast with the earlier model. It meets the special needs of photography enthusiasts and professionals who may wish to take sharp photographs of objects and people at long distances. The technical features and capabilities of this product sacrifice convenience almost entirely because it is large enough to require a case of its own and would need to be slung around the user's neck. It can draw attention in a social situation which many people would not like. However, it does offer physical evidence of the user being a photography enthusiast or even a professional. This camera cost about $500, which means that only those committed to regular and specialized use would be willing to make purchase decisions in its favor. The major value proposition is the 12x zoom which a relatively small niche of people may value. It offers high value for a certain target, but would not be of interest to most consumers. The Canon Power Shot A 540 has 3 direct competitors: the Casio Exilim EX-Z850, the Fujifilm FinePix F 10, and the Sony Cyber Shot DSC-T9. The relative inconvenience of conventional film cameras implies that the indirect competition is not serious. The high resolution and high portability of these cameras place them in a category distinct from video cameras. The market segment of amateurs, who need a convenient and easy solution for occasional photographs, is adequately met by these four brands to compete adequately with each other as a set. The Fujifilm presents a strong challenge with a price tag just below $200. It is an important benefit for the company to promote and has the potential to hit its 3 competitors hard. The Sony, with a 58 MB memory, has a key advantage of being able to store significantly more images than any of the competitors. Running out of memory can be a common problem on any occasion, and it may not always be possible to transfer records to storage media at frequent intervals. The Sony therefore offers a value parameter that the competition cannot match, hence Sony should be able to use this feature to gain market share. The Casio, with 8.1 Mega Pixels can offer large prints of excellent resolution, but most people who would value this feature may opt for more professional cameras. However, there is scope for Casio to add plenty of service (Payne, 2002) by way of creating awareness of the advantages of large prints, in order to create new demand for its product. 8.1 Mega Pixels at less than 5 oz weight is a combination with value potential for customers, but the company will have to work towards generating demand. The Canon is a kind of compromise, offering a balance of the features of its competitors. Competitive Pricing It is entirely legal for a restaurant owner to copy the price of a generic dish from a competitor, as long as he or she

Suze Orman..leadership Assignment Example | Topics and Well Written Essays - 1250 words

Suze Orman..leadership - Assignment Example Career Suze Orman faced a lot of physical and mental challenges in her youth period, which she overcame through strong determination. Her indomitable effort bore fruit when she completed her graduation from public school and got chance at the Illinois University. At the University of Illinois she was a student of Social Work in which she desired to obtain a degree despite significant hardships. Suze Orman could not get achieve the University degree in first chance. However, instead of staying back moved over to California during 1973 where she started working as a waitress in a bakery to finance her studies. During 1976, Suze Orman was conferred diploma in Social Work by the University of Illinois. The initial period of Suze Orman’s career was as rough as the initial stages of her life. Suze Orman after being a graduate decided to stay back at the bakery to learn the style of the trade. She decided to open a restaurant by herself. To this end, she was also awarded with a loan of $50,000 dollars (by a benevolent customer) that she deposited in Merrill Lynch. However, with the crash of the financial market the entire amount was lost. This changed the course of Suze Orman’s life as she in a great need of meeting the loan ventured into the financial market to be employed as a broker. ... Four years down the line in 1987 Suze Orman resigned from the post of Vice President in Prudential Bache to become a financial entrepreneur. As a financial entrepreneur, Suze Orman ventured to open up her own financial firm, Suze Orman Financial Group where she stayed till 1997. Suze Orman decided again to change her career course from being a financial advisor to become a writer and a speaker. She quit the post of director of her firm and started on her career as a writer and an orator on financial matters (â€Å"Suze Orman Biography†). Achievement Suze Orman’s career as a writer and speaker won her many accolades. The books written by her consists of popular titles like ‘ The 9 Steps to Financial Freedom’, ‘The Courage to Be Rich’ and ‘The Road to Wealth’. All these books authored by Suze Orman happened to become the best sellers in New York. Suze Orman’s writing career also wears some national bestsellers like ‘Youà ¢â‚¬â„¢ve Earned It’ and ‘Don’t lose it’. Her writing career gains further recognition through her continued literary contribution to America’s contemporary magazines like ‘Oprah Winfrey’s Magazine’, ‘Philadelphia Inquirer’ among others. Apart from shining in her writing career, Suze Orman made a mark of an orator while hosting a show in the CNBC Channel. A separate segment was created in CNBC named ‘The Suze Orman Show’ which gained huge popularity. Her list of accolades includes Emmy awards for hosting shows aimed at public service. Suze Orman also received the Gracy Allen award for her significant contribution in financial talk shows in the audio and visual media. The Smart Money Magazine had listed Suze Orman among thirty ‘’Power Brokers’’ in the country. The Feminist Press for her