关于价格战外文文献翻译.doc
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关于价格战外文文献翻译.doc
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短学期课程报告
外文翻译
题目 价格战的研究综述
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一、外文原文
(一)标题:
HowtoFightaPriceWar
原文:
Inthebattletocapturethecustomer,companiesuseawiderangeoftacticstowardoffcompetitors.Increasingly,priceistheweaponofchoice–andfrequentlytheskirmishingdegeneratesintoapricewar.
Creatinglowpriceappealisoftenthegoal,buttheresultofoneretaliatorypriceslashingafteranotherisoftenaprecipitousdeclineinindustryprofits.Lookattheairlinepricewarsof1992.WhenAmericanAirlines,NorthwestAirlines,andotherU.S.carrierswenttoe-to-toeinmatchingandexceedingoneanother’sreducedfares,theresultwasrecordvolumesofairtravel-andrecordlosses.Someestimatessuggestthattheoveralllossessufferedbytheindustrythatyearexceedthecombinedprofitsfortheentireindustryfromitsinception.
Pricewarscancreateeconomicallydevastatingandpsychologicallydebilitatingsituationsthattakeanextraordinarytollonanindividual,acompany,andindustryprofitability.Nomatterwhowins,thecombatantsallseemtoendupworseoffthanbeforetheyjoinedthebattle.Andyet,pricewarsarebecomingincreasinglycommonanduncommonlyfierce.Considerthefollowingtwoexamples:
·InJuly1999,Sprintannouncedanighttimelong-distancerateof5centsperminute.InAugust1999,MCImatchedSprint’soff-peakrate.Laterthatmonth,AT&Tacknowledgedthatrevenuefromitsconsumerlong-distancebusinesswasfalling,andthecompanycutitslong-distanceratesto7centsperminuteallday,everyday,foramonthlyfeeof$5.95.AT&T’sstockdropped4.7%thedayoftheannouncement.MCI’sstockpricedropped2.5%;Sprint’sfell3.8%.
·E-Tradeandotherelectronicbrokersarechangingthecompetitiveterrainoffinancialserviceswiththeirextraordinarilylow-pricedbrokerageservices.Theprevailingpricefordiscounttradeshasfallenfrom$30to$15to$8inthepastfewyears.
Thereisalittledoubt,inthefirstexample,thatthemajorplayersinthelong-distancephonebusinessareinapricewar.Pricereductionsper-secondbilling,andfreecallsaretheprincipalweaponstheplayersbringtothecompetitivearena.Thereislittletalkfromanyofthecarriersaboutservice,quality,brandequity,andothernonpricefactorsthatmightaddvaluetoaproductorservice.Virtuallyeverycompetitivemoveisbasedonprice,andeverycountermeasureisaretaliatorypricecut.
Pricewarsarebecomingmorecommonbecausemanagerstendtoviewapricechangeasaneasy,quick,andreversibleaction
Inthesecondexample,thecompetitivesituationissubtlydifferent–andyetstillverymuchapricewar.E-Trade’ssuccessdemonstrateshowtheemergenceoftheInternethasfundamentallychangedthecostofdoingbusiness.Consequently,evenbusinessessuchasCharlesSchwab,whichusedtocompeteprimarilyonlow-priceappeal,arechantinga“quality”mantra.Meanwhile,MerrillLynchandAmericanExpresshaverecognizedthattheemergenceoftheInternetwillaffectpricingandarechangingtheirpricestructurestoincludefreeonlinetradesforhigh-endcustomers.Thesecompaniesappeartobeengagedinmorefocusedpricingbattles,unlikethe“globalized”pricewarinthelong-distancephonemarket.
Mostmanagerswillbeinvolvedinapricewaratsomepointintheircareers.Everypricecutispotentiallythefirstsalvo,andsomediscountsroutinelyleadtoretaliatorypricecutsthatthenescalateintoafull-blownpricewar.That’swhyit’sagoodideatoconsiderotheroptionsbeforestartingapricewarorrespondingtoanaggressivepricemovewitharetaliatoryone.Often,companiescanavoidadebilitatingpricewaraltogetherbyusingasetofalternativetactics.Ourgoalistodescribeanarsenalofweaponsotherthanpricecutsthatmanagerswhoareengagedinorcontemplatingapricewarmayalsowanttoconsider.
TakeInventory
Generally,pricewarsstartbecausesomebodysomewherethinkspricesinacertainmarketaretoohigh.Orsomeoneiswillingtobuymarketshareattheexpenseofcurrentmargins.Pricewarsarebecomingmorecommonbecausemanagerstendtoviewapricechangeasaneasy,quick,andreversibleaction.Whenbusinessdonottrustorknowoneanotherverywell,thepricingbattlescanescalateveryquickly.Andwhethertheyplayoutinthephysicalorthevirtualworld,pricewarshaveasimilarsetofantecedents.Byunderstandingtheircausesandcharacteristics,managerscanmakesensibledecisionsaboutwhena
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