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Learning Team Week 3

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Week 3 Learning Team B Deliverable
Michelle Pata, Lynda Green, Danielle Jones, Deneese Brannan, Kamil Diamond,
Shalonda Henderson
ECO/561
August 18, 2014
Harry Dzakwasi

Week 3 Learning Team B Deliverable This week’s learning objectives were challenging and interesting to complete. This week’s objectives also showed and helped the team be able to apply these techniques to our current organizations. There were also some struggles in understanding, but overall the objectives proved applicable to all goals within this learning team. Objective One: Determine pricing strategy to meet organizational goals Overall, the team thought this objective was interesting. The chapters laid out the different types of markets well and discussed how each was either affected by price or affected price. Shalonda feels comfortable with ways to implement nonprice barriers of entry, increase product differentiation, and reduce cost. Deneese really grasped the concept of monopoly versus oligopoly. Lynda enjoyed learning how pricing structure can help a company meet their goals and profit margin. The team had little difficulty mastering this objective. Danielle has a better understanding of what affects prices in her industry and use this knowledge to help make better purchasing decisions. Michelle stated that pricing strategies make more sense to her, from marketing strategies to determining pricing for the actual services that are provided at each of her facilities. She feels more comfortable developing a framework for pricing strategies and using them in her field. Objective Two Objective Three Objective Four My team stated that the subject for this week was fair easy to grasp. The objective focused on reducing costs, which is a common goal across most organizations. Each market structure has effective ways to reduce these

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