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ECO600 Economics And Finance For Business

Write a report about the state of competition in this industry (Week 4’s topic) and how the companies price their product or use non-price strategies to get customers, and how they grow their businesses. Recommend how they could grow and improve their pricing and non-price strategies.

How many parts will the report have?

The report will have three key parts:

(i)Part I: write a literature review (an overview) of the state of competition in the industry in recent times, and developments that have and might occur in it

(ii)Part II: write about how the companies are trying to grow their business. Recommend growth strategies.

(iii)Part III: discuss the pricing and non-pricing strategies used by the businesses (based on your observations). You may support these observations by citing published works that speak about similar used elsewhere (news articles, books, reports, journal papers). Recommend strategies.

Critical analysis is important to get good marks

Use critical analysis throughout your report.

Critical analysis means demonstrate you have analysed your observations in an intelligent and creative way to unearth and identify patterns, motives or some interesting insight.

Analysis is more than just describing what you saw.

It is not merely saying, “I saw this… I saw that”. It is about “I saw Company A do this…, but this was not done by Company B. I noticed that because Company A had less staff, they could not do that. Also, I observed that Company A priced certain products like this… but the other company prices them differently, like this..., possibly because...”.

When citing published works, students should use credible, reputable Internet articles and/or books, journals and government, industry or other reports to support and enrich their findings. Do not cite blogs written by people who are not authorities in the subject. Do not cite a Facebook page.

Analysis refers to the ability to examine something in detail or carefully, and say something insightful or interesting. Tease out interesting points, patterns, behaviours or complexities. Offer a critique if possible.

Analysis shows that you had thought about the matter in a careful, creative or deep way. It is ‘perspicacious’, meaning ‘having or showing an ability to notice and understand things that are difficult or not obvious’ (Merriam-Webster Dictionary).

When writing, therefore, dig deep and look for interesting details that are not so obvious, or contrasting points of view, opinions or highlight a related, published finding.

Reports that describe observations or provides information from a reference source are fine. However, reports that largely contain only descriptive material are not desirable. Marks will be lost.

These types of reports normally contain

(i) simplistic observations without any analysis;

(ii) long background sections about the subject of your study but does not address the core task adequately; or

(iii)  lengthy repetitions of textbook theory or concepts that is already obvious.

Avoid relying on simplistic and general statements (example: “If prices go up for this product, demand should fall according to the law of demand”).

Analysis is evident when you curiously inquire. Think, investigate for information, write. For example, is the demand for Samsung smartphones rising over time, or is plateauing? Does this reveal something interesting about the nature of demand for smartphones (a bit of research might reveal that the market for smartphones in general is saturated— everybody already has one)? Higher marks for such type of analysis.

Mistakes in spelling, grammar and in the use of punctuation will be penalised. Marks will be deducted for incomplete sentences or sentences that do not make sense.

The style, formatting, and language used should be neat and consistent.

The components of the report (the table of contents, the abstract, and the various sections of the report and the figures and tables used within it) should be either in accordance with the ICMS Style Guide or any other guideline suggested by the lecturer.

Thus figures and tables must be properly numbered and have a caption. Black-and-white words and headings should be used. Otherwise, marks will be deducted.

Use Calibri or Times New Roman font. Use font size of 12 points. Use single spacing. Have a line of spacing between paragraphs.

Inconsistent font type or font size, improper spacing between paragraphs (paragraphs should be separated from each other by a line of spacing) and a poorly-organised reference section result in lower marks.

When you support your writing with reference sources (secondary data), ensure these are good sources of information. Ensure they are credible (avoid Wikipedia and blogs, unless these blogs are written by someone authoritative, e.g., an economist).

Acceptable literature includes news or business articles from the Internet (good sources such as BBC, The Australian Financial Review etc.), government reports, journal articles, academic or other published books.

Cite your sources in the main text, and include the full reference in the references section.

The more sources, the better, but within reasonable limits – use your judgement whether you have time or space in your report. However, have at least five items in your references to qualify for a pass grade.


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