Competitive Advantage and Pricing Strategies

Forum: Identify at least three major competitors that you will encounter in the launch of your business venture. Analyze their competitive advantages and pricing strategy, and explain the rationale for the best approach that you will use to compete effectively against them.

Responses: Assignment #1: Analyze the pricing strategy matrix described in this lesson and modify it appropriately for your business showing the key variables that consumers use when purchasing the product or service. Then, conduct research on your local competition, and submit a completed pricing matrix assessing each competitor that you will encounter. Include your own pricing model within the matrix, and provide a written justification to explain the rationale for the niche that you intend to fill in the marketplace. Your matrix and written justification should be a minimum of two pages. Minimum 2 scholarly sources.

Assignment #2: In a 2-3 page paper, determine your immediate technology needs and the best way to acquire the needed technology. For example, is the technology required for a long or short term duration? Would it be best to build, buy or lease what you need? You should consider your Week 5 research about funding technology acquisitions for your organization’s activities as you complete this assignment.