My Wild Hope Of A Future Career - 1171 Words

Career (Wild Hope) My wild hope of a future career would be opening up my own business. Growing up I watched my Dad start a couple of businesses and my hope is that in the future I can open my own or start a new one with my Dad. Currently we are discussing buying out a company that manufactures boats. This purchase would include the company name, and all the necessary materials to mold a boat. My Dad currently wholesales cars and retails boats. The idea with this company would be to manufacture the boats, as well as retail them. After getting the boats out in the market we would start to wholesale the boats to other retailers across the United States. Three topics in this class that can be related to my wild hope would include: pricing†¦show more content†¦Pricing The Product Application When opening a business that will manufacture boats and then retail them pricing is important especially when you get into wholesaling to other retailers. As seller’s we want to make enough revenue to cover cost and make a profit. But when customers are looking to purchase a boat we want their perceived benefits to be greater than price to create more value. A customer that buys a boat gives the seller money in exchange for a boat. Or they customer trades in a boat plus cash in exchange for a boat. If sellers and customer’s views have high dissonance then it most likely won’t lead to a purchase on the customer’s part. Based on experience in the boat industry and with the car industry the odds that someone goes into a retailer to purchase a boat or vehicle at full price is very low. The textbook shows the price equation as, â€Å"price= list price – incentives and allowances + extra fees.† When pricing you want to take into consideration what incentives and allowances you want to include and make sure your list price is high enough that when you deduct incentives and allowance you are still making a profit. As the textbook st ates, â€Å"the amount paid is not always the same as the list, or quoted, price because discounts, allowances and extra fees† (pg 318). Viewing Product Performance Background When dealing with products and where you need to focus selling