Pricing Strategy

linguistic universal Rental Printing Car Assignment Objective The objective of the simulation was to increase profits of global Car Rental high society. The simulation was run across three cities in Florida, Tampa, Orlando and Miami. Our strategy We adopted a strategy of offering the highest price achievable whilst maintaining 100% capacity utilization respective to the market conduct. In the context of the scenario, where growth in lead step forwardstripped supply and with only twelve rounds, we felt market share was not fundamentally important.In respect of setting the pricing level, we calculated the price elasticity of demand to pretend us an insight into the increment we could increase the price. We concluded that price elasticity of supply was irrelevant in the context of this simulation. Customer price response We were quickly able to observe that weekday and weekend demand out did supply we concluded that weekday demand was an alternative for business users and weekend demand was more for leisure users. The most(prenominal) important aspect we considered was increasing our fleet size to meet market demand. We lost a spacious amount of sales by not meeting customer orders.This could have been easily resolved by steady increase of a number of fleet added per month. Universal should also increase brand ken by applying brand management. After our great performance and steady increase in market demand Universal should increase marketing in several media applications. Some of theses applications should include, airport advertising, e-advertising, TV commercials and newspaper ads. By advertising in these areas, Universal is certain to increase brand awareness and future success. Final takings My partner and I were able to increase the accumulative profit of Universal Rental Car Company to $268 million.