Pricing strategies for a technical writing services business

¶ … marketing strategy direct marketing pricing activities strategy/Project improved duration . Make grader identify sections revised, (e.g. Track Changes feature Word).

OVERALL COSTS

The creation and delivery of the organizational service is linked to a wide array of costs, all of which are incurred in the organizational processes and operations. The more pertinent of them include the following:

Costs with the commodities, including the usage of the personal laptop and other desktop features

Costs with the software applications required to complete the documentation projects

Costs with utilities, such as electricity, internet, telephone bills and so on Costs with marketing and the promotion of the writing services

Other costs, such as administrative, the traveling to the offices and other such expenditures.

27. TEMPORARY PRICE PROMOTIONS

Temporary price promotions would be used on occasions and this is explained by the fact that the customers are price sensitive. In other words, the usage of promotional sales would benefit the firm by generating more demand and also by improving its image within the market. Promotional sales would however be restricted to specific time frames and to certain criteria, so that they do not jeopardize the financial stability of the entity.

28. PRICE DISCRIMINATIONS

Price discriminations would be implanted in the collaboration with different customers. Specifically, in the relationship with intermediary writing companies from where to gather work, the prices implemented would be lower. On the other hand, for the firms where the collaboration is direct and there exists no intermediary for the writing services, the prices to be implemented would be higher.

29. EXPECTED PROFITS

The profit expectations are rather somber for the immediate time period as this profession of technical writer is built in time, through hard work and dedication. Within the first year of operations then, it is expected for the financial results to be insufficient. In a more numeric presentation, the following are noteworthy:

Expected average price per page written -- $10.00

Expected average pages written in a month -- 50

Expected average revenues for the first year of operations -- $10.00 per page x 50 pages per month x 12 months = $6,000

Expected average cost per one year -- $1,000

Expected profit at the end of the first year of operations = $6,000 - $1,000 = $5,000

It is at this stage mentioned that the profits would increase with the second and third years of operations, as a consumer base is formed and as demand for the writing services consolidates, and even increases.

30. LEARNING

The completion of the current project has helped the individual gain a better insight into the management of an organization. In other words, it has assumed a realistic situation and has forced me to visualize the context, with its complexities, understand the business setting and make the necessary decisions. Overall, the project has prepared me to be a better player within the business community.

The lessons learnt throughout the project can be divided into two categories, based on their source. The first category is that of the lessons learnt through personal thinking and reflection, whereas the second category is that of the lessons learnt through the feedback collected. These are both mentioned below:

a) Improvements through self thinking:

Ability to understand the complexities of a given situation

Ability to gather more information on a given situation

Ability to create and understand multiple scenarios and to consider them in the decision making process

Ability to assess an industry, with its complexities, specifics and particularities

Generally improved research ability.

b) Improvements through feedback

Ability to reassess my decisions and reevaluate them in light of new input

Ability to recognize the importance of feedback.

References:

Longenecker, J.G., Moore, C.W., Palich, L.E., Petty, J.W., 2005, Small business management: an entrepreneurial emphasis, 13th edition, Cengage Learning

McGrath, M.E., 2001, Product strategy for high technology companies: accelerating your business to web speed, 2nd edition, McGraw-Hill Professional

Parkin, M., Powell, M., Matthews, K., 2007, Economics, 7th edition, Pearson Education

Smith, T.J., 2011, Pricing strategy: setting price levels, managing price discounts and establishing price structures, Cengage Learning