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BUS100, Professional Communication Skills

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King's Own Instuitute

   

BUS100 Professional Communication Skills (BUS100)

   

Added on  2020-03-04

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BUS100 - The following paper is about Professional communication skills. It has two topics to discuss on. first one is about :if a business drops, its price will always increase demand and it will make more profit. Can it happen again? It is an essay on instability and finance. Second topic is : How to create uncontested market space and make the competition irrelevant. 

BUS100, Professional Communication Skills

   

King's Own Instuitute

   

BUS100 Professional Communication Skills (BUS100)

   Added on 2020-03-04

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Running head: ANNOTATED BIBILOGRAPHYAnnotated BibliographyName of the student:Name of the University:Author’s Note:
BUS100, Professional Communication Skills_1
1ANNOTATED BIBLIOGRAPHYTopic: If a business drops, its price will always increase demand and it will make more profitMinsky, H.P., 2015.Can" it" happen again?: Essays on instability and finance. Routledge.The various forces which help in determining the profitability are consumer preferences,market information and technology. The companies which are incurring huge profits has to breakthe rules and adapt the new pricing strategies. There are some companies which have thecapability of implementation of various kinds of strategies in terms of business failure. It isimportant for the customers to understand the value of the products. When the revenue of aneconomy falls, it is important to understand that and take the appropriate actions accordingly. Inan economy which is showing a very slow growth, it is reasonable to lower the price of theproduct so as to increase the profitability of the company. If the demand of a particular product isperfectly inelastic, buyers will purchase the same quantity of the goods at a much higher price.Whereas if the demand for the product is elastic, the customers will not be attracted if theretailers raise the price of the product. The prices of the product are always sensitive and even ifthe firms falls to a much lower level. There will be decline in the average price of the product. Itis likely that the demand for the product will increase when there will be price war. Theadvantages of falling prices over all other competitors are always temporary and short lived. Thecustomers will set a particular expectation of the price and he/she will prefer the product keepingaside the price war. In case of business failure, the customers will be more attracted to a productwhich is available at a much higher price. The customers will prefer to buy the product becausehe/she will understand the benefits of the product keeping aside the price. This will help thebusiness firm to increase its profit because the business firm will sell the product at a muchhigher cost than the normal situation. The business firm can sell the product at a much higher
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2ANNOTATED BIBLIOGRAPHYcost till the time the customer will perceive the benefits of the product. On most cases, it is seenthat the company will fight on the price war as a part of the deliberate strategy. The companieswill try to invest in new technologies and methods so that it can reduce the cost of productionand sell the products at a profitable price. Kim, W. C., & Mauborgne, R. A. (2014). Blue ocean strategy, expanded edition: How tocreate uncontested market space and make the competition irrelevant. Harvard businessreview Press.The growth has always been experienced in the company that is in their declining state.This is one of the shocking incidents that have been evident over the years. This growth isevident because of the use of traditional strategic planning result that was supposed to give alimited growth experience. It has been seen that the declining industries does not focus oncompetition like the prospering industries. Their main motto has always been to fightcompetition without trying to defend the competitive market. The declining business main aimwill be clear off the sale at that crucial point of time rather than focusing on competition. This isbecause, if it aims to clear off the stock then in future t can make plans to increase its operationin a better way. Moreover, clearing off the sale means offering the goods to the customer at alower rate. Thus, this will increase their demand for the goods at that price as the customers willbuy more at a less price compared to other companies selling same products. This will add to themarketing of the company in the long run and customers buying products at a less price now willuse the product and get aware about the company and the quality they sale. Thus by clearing thesale the company gets an opportunity to improve its marketing techniques in front of itscustomers. The improved image of the declining company in front of the customers will help thecompany to overcome from the declining state. On the other hand, when the company will be in
BUS100, Professional Communication Skills_3

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