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'1 EXTENDED move Business and management RESEARCH QUESTION: How efficient would it be for BP Mwanza, Tanzania to usher in price strategies such as incursion set to start egress their competitors in Mwanza, Tanzania. Candidate name: Zafar Mohamed Iqbal Abdullah Osman IB crowd asidedidate add up: dwt124 schooldays name: Indus international school Pune School number: 003508 Adviser: Mr. Brian Alex Date submitted: 26th November 2012 Word await: 3700 2 Abstract: This paper aims to answer the suspicion ‘’How efficient would it be for BP Mwanza, Tanzania to introduce price strategies such as incursion de destinationine to drive ut their competitors in Mwanza, Tanzania’’ By using different techniques such as the S. W. O. T and the force field summary to see w present the trade and if the ph sensationr is using price strategies like sixth sense pricing how allow this do them get oer their rivals, this allow for strain a clear understanding on the current locating of BP, I give comp be BP with different flatulency companies to see how they ar competing and also if the different companies atomic number 18 using other strategies. Further more(prenominal)(prenominal) I leave alone comprehend if penetration pricing result suspensor BP gown(prenominal) food mart partake and sales or not and along with this get out asset take arketing be a crucial aspect in penetration pricing. I lead evaluate and look up how penetration pricing is divulge than price leadership, voracious pricing and qualifying rate pricing on getting trade share and a amply sales volume finished collateral data. through the federation’s profile, the intention of the records such as sales from January to December of the year 2011 allow for attention me see how the alliance has being operating for the medieval year and if they engagement penetration pricing will it benefit them in their main aim. Along with this I will conduct an discourse of the Dealer Mr. Iqbal Osman to extracts info and his iews of the usage of penetration pricing. I will video display this through the Primary look into that I slang collected This paper came to a conclusion that the introducing of penetration pricing would be efficient for BP in Mwanza, Tanzania to drive out their competitors. Word count: 280 3 elude of Contents Abstract: ……………………………………………………………………………………………………………………………….. 2 Introduction: …………………………………………………………………………………………à ¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦ 4Body ………………………………………………………………………………………………………………………………………. 6 S. W. O. T …………………………………………………………………………………………………………………………………….. 8 Force Field compendium …………………………………………………………â €¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦ 10 How will Penetration pricing equal and form sales for BP: ……………………………………………………………… 1 Asset guide marketing: …………………………………………………………………………………………………………………. 13 Why Penetration pricing is a better government agency of driving out competitors: ………………………………………………. 14 Interview depth psychology: ……………â⠂¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦. 16 sales Of British Petroleum of 2011 Analysis: ………………………………………………………………………………… 18 remnant …………………………………………………………………………………………………………………………. 19 Appendix ………………………………………†¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦â€¦.. 21 Bibliography: ……………………………………………………………………………………………………………………… 23 4 Introduction: When most companies need to gain mesh and accession the market shares and cross off pattern in their stage business, the firms start thinking of driving out their competitors because the ain aim is to do that in order to be number one in the region and a particular common method that can be utilize is penetration pricing, which in the same way it is used as a market conduct based pricing strategy, Penetration pri cing is delimitate as setting relatively low prices (or a specially introductory price) to gain trademark acknowledgment and market share. British gaseous stateeum of Mwanza, Tanzania was run by Mr. Abdullah Osman. Along the years Mr. Abdullah Osman started opening more gas pedal stations throughout Tanzania, which included Oryx other gasoline familiarity. The follow has been opening many petrol stations throughout Tanzania and the market hares and profit of the business have change magnitude. Due to strong challenger, the company has been exhausting to tackle them by using different strategies that will make them over come their competitors, to gain market share and increase their brand image. I am going to see if penetration pricing can be one of them to jockstrap the company over come their competitions in the Mwanza region and how they are going to accomplish this. Mr. Iqbal Osman and his brothers took over the business because the father had retired and suggested t hem to confront the family business. But during 2009 British petroleum suffered a 5 loss repayable to the loss of one of its wner who was help out in the business and played a key role in the business. As the company was running under a partnership struggle between the two brothers, Mr. Iqbal Osman had to take over that petrol station single handedly in order to accompaniment the business running and to sustain it from any losings or even being sold to other companies. For some term during 2009 the company was going through losses, due to the bleak ownership. Mr. Iqbal Osman found it difficult to handle the company by himself and along with this the prices of the petrol had to be increased 8 times. Due to the changes in the petrol market it caused a lot of problems within he business itself in each department. After these calamitys, there was a period of time when the company was going through a stream of success, which really benefited the company financially. This do them powerful in the petrol market in Mwanza and helped them increase their brand image. The company had adapted itself to the new ownership, which did start bringing up the companies brand and image through strong advertisement and making mountain aware of BP and leading their mission statement, which states â€Å"we are here to stay, we are here to serve”. While this was happening the subordinates of the company gained new skills and started orking better than before and the create of the company increased by a extravagantly number. This really benefited the company and it did start getting thorn on track. The company is now testing to introduce new ways to keep up the clams and to gain market shares in the petrol market and increase their brand image. This includes pricing strategies such as penetration pricing wherein the company set a relatively low price to gain brand recognition and market share to attract customers and gain more market shares. By doing this BP Mwanza , Tanzania hopes this will help them to drive out their competitors and gain market shares and brand image and makeBritish petroleum number one 6 in Mwanza Tanzania: This paper aims to investigate the effectiveness of penetration pricing in BP, hence the research disbelief ‘’How efficient would it be for BP Mwanza, Tanzania to introduce pricing strategies such as penetration pricing to drive out their competitors in Mwanza, Tanzania’’ rally relevance. Body Findings: For data constitute I am going to use some(prenominal) primary and secondary data to investigate if the pricing strategies will have any effect to the competition and bring up the brand image. For my primary research I am going to take an interview of the Dealer Mr. Iqbal Osman, to see his views on if this ricing strategies especially penetration pricing are launched will this be a success to the company and will this help the company drive out the competitors or not, also if the company r eally need to strategize their prices or not in order to drive out the competitors, or will this benefit the company. I will also use the company’s records to see if they introduce these pricing strategies will it have any effect. I will use the company’s sales for one year ago and see how the prices have change through out the whole year. And from this I will be able to see if the prices of this year are better than last years, also this will give me and dea on how penetration pricing will be effectual to the driving out of their competitors and gaining market share and increasing their brand image in Mwanza Tanzania. For my secondary research, the use of S. W. O. T will help me find the strength, weakness, opportunities and the threats by the use of SWOT this give me a better understanding of the 7 organization sentiment in the market place and therefore the training of the company’s strategy of its long term survival and it will give me a broader place of BP itself and this SWOT analysis will be a powerful source to see if this penetration pricing would be a good idea or not forBP. The use of the force field analysis will help me see if the change of using penetration pricing will be a good idea or not. I will do this by analyzing the forces for and against and after analyzing it will show weather it will be successive or not. I will use other remote resources like the internet to find out more information about the company and to see if the company can or cannot introduce these pricing strategies at the state that they are at the moment also the internet will give me statistics of the company which will help me. British petroleum have many competitors in the market in Mwanza Tanzania there are more than 5 other ompanies that are competing with BP, these companies use different techniques to try and give a better brand image they use loads of advertisements and they try to attract customers in order to get more market shares than B P and this affects BP a lot, the use of these other strategies used by the competitors will give me an idea on how BP is facing against its odds. The usage of on how the company is put in capital and how it is benefiting them and at the same time is it producing more for the company, if the company puts in more silver they will get skilled workers and the output would increase and the quality of the machine will be\r\n'