Industry

[zhouyu...@hotmail.com]

We should decide our industry and sent it to the lecturer as soon as possible. 

[shirley891206]

I will go through that assignment document tomorrow after work and hope I can give you guy feedback ASAP ^_^

[Yu Zhou]

Hi, all

I have thought about which industry should we chose. 

I prefer  Dan's idea - medicare products

The reason is : 

1. from my research and experience, sometimes there is not a big different between the price of  budget tickets and normal fair, then it is not economic and reasonable. 

2. there are too many mobile phone companies and sell so many kinds of  mobile phones. it is too difficult for us to find a key point. but if most of you think it is a good topic, i would recommend to concentrate on apple products or another particular company(e.g. sumsang, nokia, htc..) and then use other companies to compare with. 

3. medical products can be drugs for cure（some are necessities and irreplaceable) or healthcare products, governments play important roles on the price control and it can be related with welfare policies. This topic will definetly make us special, but would this one too complicated for us -- since medical industry seems far away from us?

I am so struggling with the last two, what do u think?

Yu Zhou

zhouyu...@hotmail.com

On 20/04/2013, at 10:22 AM, zhouyu...@hotmail.com wrote:

On Friday, April 19, 2013 4:22:21 PM UTC+8, zhouyu...@hotmail.com wrote:

We should decide our industry and sent it to the lecturer as soon as possible. 

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[dan.ho]

Hi everybody,

I am happy to choose the pharmaceutical/medicare industry as our topic.

There is a lot of preexisting research papers conducted by independent firms and government agencies on this topic online which means gathering trusted information will be a little easier compared to the mobile phone or airline industries. 

As Yu has mentioned the influence of government on price and the in-elasticity of many common medicines  makes this industry rather unique and provides us with different platforms to further investigate.

Also I've done a bit of research and found on the Department of Health and Ageing website that the most common pricing techniques used for pharmaceutical goods in Australia are Cost Plus Methods and Reference Pricing. So that already gives us a good starting point.

But with that all said I'm happy to go with any industry. 

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[zhu zhu]

Hi, all

Sorry for the late reply. 

Fist of all, i thought either cell phone or pharmaceutical industry could be a good topic for us. Coz i've done a little research on all topics and these two topics can be easier collecting information. However, after I went through what you two just said, I believe pharmaceutical industry is the best. 

Thanks Dan and yu. 

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[emma_metcalf]

Hi everyone,

I agree, the pharmaceutical industry looks like it will be the best option.

There is plenty of research on this topic, and a lot of factors that contribute to the pricing of medications so we will have plenty of material to discuss in our paper.

It seems like we are all in agreement so I'll send an email to our lecturer now to check that this will be a suitable topic.

[Yu Zhou]

OK all good. 

Thanks emma.

Yu Zhou

zhouyu...@hotmail.com

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[zhu zhu]

Yes, please! Thx Emma!

--

[Yu Zhou]

Thanks Emma. 

Sent from my iPhone

On 28/04/2013, at 11:39 AM, "emma_metcalf" <emma_m...@hotmail.com> wrote:

Just got an email back, we're all good to go ahead with this topic.

[emma_metcalf]

Just got an email back, we're all good to go ahead with this topic.

On Sunday, April 28, 2013 9:54:34 AM UTC+8, shirley891206 wrote:

[dan.ho]

Sounds great. I'll send everyone an update on my progress with Q1 later today. 

See you all in class tomorrow.

[Yu Zhou]

Hi, Dan

How's the first question going? I just came up an idea about it. 

I am not sure if you mention the "economic rent" as the dry cleaning market in the poor town is monopoly.

George's dry cleaning store could seek economic rent by price discrimination, when he provide different services to different people at a different price.  People in the black community can't spend the amount of money on clothes as mush as the riches. So we can consume  the quality of the clothes bought by people in the  black community is not as high as the ones bought by the riches. Thus, the quality of Goerges' services to the poverties is worst than that he provide to the riches--using different kinds of laundry tools or products. So, the price for different services should be different. Eventhough he is offering lower price for the most deserving, he can still charge the highest possible price to make the largest profit. (the firms rent seeking- transferring consumer surplus to the monopoly and converting it to producer surplus).

Is the above paragraph match our scenery? please rewrite it in better english if you think it  can be use in the answer.:) 

Yu Zhou

zhouyu...@hotmail.com

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[Yu Zhou]

Hi, Dan 

I just back home from school. Today we briefly talked about what should we put in each part regarding on question 2. I already put some dot points under the subtitles in world doc which I made before the meeting. Please put the answer first question into the doc too.

We will meet on next thursday 1pm in business school. Before that, each of us will do some research on the industry and price strategy. I will concentrate on the introduction part and the other girls will research on price tech. We will upload the useful doc on google group or share the links. 

We all agree with narrow down the industry and concentrate on healthcare products because 1. australia is famous of healthcare products 2. healthcare products are more targeting at niche market 2. its more easy to find out a dominate price strategy and elaborate on it. 

Dan, you are the one who came up with pharmaceutical industry, what do you think ? is healthcare product a good idea? we are really waiting for what you say and make the final decision. 

For the price strategy part. we believe that we should talk about all the strategies have been used in the market and then pick up the key strategy or the most special one to analyse. 

These are pretty much what we did today. Please find the doc in google group and  pl let us know what you think for each part. 

Regards.

Yu Zhou

zhouyu...@hotmail.com

On 30/04/2013, at 10:23 PM, Dan Ho wrote:

Hi Yu,

Just seeing how today's meeting after class went?

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Subject: Re: Industry
From: zhouyu...@hotmail.com
Date: Sun, 28 Apr 2013 21:59:30 +0800
CC: econ-assignment-...@googlegroups.com
To: dan...@live.com

Yu Zhou

zhouyu...@hotmail.com

Yu Zhou

zhouyu...@hotmail.com

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[Dan Ho]

Hi Yu,

Thank you for the update. Late night at Uni I see.

I'll look into it the points raised after work and provide the team with a researched response.

Thanks.

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Subject: Re: Industry
From: zhouyu...@hotmail.com

Date: Tue, 30 Apr 2013 22:53:25 +0800