Question: Pricing Simulation: Universal Rental Car V 2 Please answer the four questions below based on your experience running the simulation. Please answer all 4 questions
Pricing Simulation: Universal Rental Car V
Please answer the four questions below based on your experience running the simulation. Please answer all questions broadly.
How would you characterize the behavior of each city and each type of customers businessleisure
How would you characterize the elasticity of demand in each market and overall? Which factor of demand heterogeneity causes or sources of variance in demandplayed the most critical role in your overall performance?
What pricing strategy did you use as you played the game? What was your objective what were you trying to maximize? ieprofit maximization, market share maximization, meet competition, status quo, etc.Overall how does price affect demand?
Make strategic recommendations on how a specific car rental firm could gain market share and remain profitable in these markets going forward.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
