From the Mind of Will Bury
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Running head: FROM THE MIND OF WILL BURY
From the Mind of Will Bury
University of Phoenix
From the Mind of Will Bury
Electronic technology has grown by leaps and bounds and the impact on the market is ever-changing. The pulse of perfecting, condensing, and accessing information is the key to being competitive in the electronic industry. The Internet can bring another country’s product within reach in a matter of minutes by downloading the information. The concept of instant gratification appears to be the norm. The purpose of my paper is to discuss the Will Bury’s price elasticity scenario by providing recommendations for increasing revenue for the company, achieve ideal production levels, determine how fixed and variable costs should be adjusted to maximize profit, identify methods to reduce costs as it relates to economic concepts.
Increasing Revenue for the Company
I am a firm believer that a business person has to spend money to make money. Mr. Bury needs to increase his advertising budget. He needs place advertising in bookstores, libraries, stores, and the post office. Mr. Bury needs to research in making commercials, flyers, and business cards. He also needs to raise the price of his items and he can also offer a discount when the items are sold in bundles. He could raise his prices to $25 for title with royalty fee and $15 for copyright that has lapsed. He could focus on the best sellers list for cataloging purposes. He can also branch out to book-clubs. He could also sponsor a reading program in a local school. I would recommend promoting community involvement so that business can expand and grow.
When a consumer makes a purchase, I would recommend a five dollar discount when two items are purchased. He can also offer a seven dollar discount when three are purchased. The last bundle deals should be a $10 discount when three items are purchased. I would also recommend that he has a discount for initial and returning...
From the Mind of Will Bury
University of Phoenix
From the Mind of Will Bury
Electronic technology has grown by leaps and bounds and the impact on the market is ever-changing. The pulse of perfecting, condensing, and accessing information is the key to being competitive in the electronic industry. The Internet can bring another country’s product within reach in a matter of minutes by downloading the information. The concept of instant gratification appears to be the norm. The purpose of my paper is to discuss the Will Bury’s price elasticity scenario by providing recommendations for increasing revenue for the company, achieve ideal production levels, determine how fixed and variable costs should be adjusted to maximize profit, identify methods to reduce costs as it relates to economic concepts.
Increasing Revenue for the Company
I am a firm believer that a business person has to spend money to make money. Mr. Bury needs to increase his advertising budget. He needs place advertising in bookstores, libraries, stores, and the post office. Mr. Bury needs to research in making commercials, flyers, and business cards. He also needs to raise the price of his items and he can also offer a discount when the items are sold in bundles. He could raise his prices to $25 for title with royalty fee and $15 for copyright that has lapsed. He could focus on the best sellers list for cataloging purposes. He can also branch out to book-clubs. He could also sponsor a reading program in a local school. I would recommend promoting community involvement so that business can expand and grow.
When a consumer makes a purchase, I would recommend a five dollar discount when two items are purchased. He can also offer a seven dollar discount when three are purchased. The last bundle deals should be a $10 discount when three items are purchased. I would also recommend that he has a discount for initial and returning...