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  • WAYS OF IMPROVING THE ECONOMIC EFFICIENCY IN CONNECTION WITH PRICING

    In the actual publication, the technique of investigating the dependence of economic efficiency and
    WAYS OF IMPROVING THE ECONOMIC EFFICIENCY IN CONNECTION WITH PRICING
     
    In the actual publication, the technique of investigating the dependence of economic efficiency and pricing is offered.
     
    Keywords: economic efficiency, pricing.
     
     
    MIHAIL EFIMOV
    ECONOMIC ACADEMY OF MOLDOVA
     
     
     
     
    Supervisor:   Victor Caun
        doctor of economics, professor
    Author   MihailEfimov
    PhD. ASEM
     
     
     
    CHISINAU, 2013

                Companies must have the sufficient flexibility in order to react operatively to the competitors’ actions and to the changes in the market environment. They should permanently compare the company efficiency to the leading players in the industry for the better industry practice usage [2, c. 65]. In order to increase the economic efficiency of the trading company there can be offered an implementation of the following technique developed by the author. Increase of the economic efficiency of a commercial enterprise and of the buyer.
                Economic efficiency of a commercial enterprise is the result of using all available resources (both in the short- and long- term perspective), reduced to a unit cost. "Generalized formula for the cost-effectiveness determination is as follows:
     
    E = E / C,                                                                   (1),
     
    where
    E – Economic efficiency of the action;
    E - The result (effect) from the actions realization;
    C - Costs for the implementation of activities." [3]
                Let us divide the customers based on the Pareto principle into two categories depending on the effect: E20 and E80, and on the number of items purchased, and denote the threshold number of the items purchased as n> 2.
                The required input data:
    1. Cost price, lei;
    2. Price, lei;
    3. Customers, units or %, Qk (determined experimentally);
    4. Elasticity, e (determined experimentally);
    5. n (determined experimentally);
                We offer to increase economic efficiency at equal costs, i.e.
     
    E1 ≤ E2,                                                          (2)
    ⇒from (1)
    E1 ≤ E2,                       (3)
    that is, we need to find max (E2-E1)
                This inequality will be true if the buyers from fixed categories E20 move to E80.
    E1 = ΣNiS1,                 (4),
    E2 = ΣNjS2,                 (5) ⇒
    From (4) (5) and (3) ⇒
    ΣNiS1 ≤ ΣNjS2,                       (6)
    where Ni from 1 to n-1;
    Nj - one unit of the acquired from n to infinity;
    i, j – from 1 to infinity;
    S1, S2- the profit of the good item before and after;
                In other words, the profit from each customer of category E20 will increase to the greater or equal profit of the category E80 by increasing the number of purchased goods, and increase of the number of purchased goods will occur by lowering the prices for S1-S2 for this category.
    maxNi = n-1, minNj = n, by definition. From (6) ⇒
    (N-1) S1 ≤ nS2,                       (7) ⇒
    S2 ≥ S1 * (n-1) / n,                  (8)
                At the lowest possible S2, we obtain the equality:
    S2 = (n-1) * S1 / n.                  (9)
                Let the k to be the number of units purchased without a discount, where k ≥ 1 and nk ≥ 1, the effect of △P constitutes:
    △P = nS2-kS1= nS1 (n-1) / n-kS1 = (n-k-1) S1,                    (10)
                According to the definition, the elasticity of the profit is:
    e = ΔQ / ΔP,               (11),
    where ΔQ is relative change of the number of purchases (items);
    ΔP = S1-S2 / S1 ⇒from (9) ΔP = 1 / n,                      (12)
    where ΔP is relative change of the  profit. Elasticity can be established experimentally. From (11) and (12) we get
    ΔQ = e / n,                  (13)
                Let us determine the number of buyers Z, who started to purchase at a discount, out of those who used to buy the k number of units, where Z is equal to the basic number of buyers (Qk), before the price change, multiplied by the relative change in the number of items sold (ΔQ) and divided by the number of items (n-k), necessary to reach the threshold value of n.
    Z = Qk ΔQ / (n-k),                 (14),
    where Qk is the number of buyers of k - units before the  discount.
                Additional profit PK of the k-category from (14) and (10) is:
    PK = Z * △P = Qk ΔQ * △P / (nk) = Qk * e * (nk-1) S1 / n (nk),              (15)
    When k = n-1 ⇒(10) PK = 0;
                At k ≥ n he immediately gets a discount and acquires the entire amount at a discount.
    Pk1 = Qk * (S1-S2) = - Qk S1 / n,                    (16)
    where Pk1-losses by reducing prices
    from (15)
    Pk2 = Qk S2 * e / n = Qk e * (n-1) * S1 / n * n,                      (17)
    where Pk2 is the gain, because of flexibility, considering that this number of buyers will buy Qk not instead of k-items but additionally.
    The difference between Pk2-Pk1> 0 from (16) and (17) at e-1-e / n> 0, for example, when n = 4, should not be more than 1,33.
                According to a survey undertaken in the SRL "EVM-Angro", it was found that 81.4% of the income is done by the consumers who purchase from 4 items of the A - product[‎1], according to these data Table 1is composed.
    Table 1. Calculation of profit from the Product A

    Source: own elaboration
                According to a survey undertaken in the SRL "EVM-Angro", it was found that 79.34% of the revenue is done by the buyers purchasing from 5 items of  B-product [1], according to these data Table 2is composed.
    Table 2. Calculation of profit from the Product B

    Source: own elaboration
    The indirect effects obtained by reducing the prices:
    1) The share of the market increases;
    2) The clients become more loyal;
    3) The additional buyers of the category who did not purchase anything, but are about to purchase due to lowering the prices;
                There was implemented an algorithm of economic efficiency increase by a greater customer satisfaction from the purchase.
                Result of the introduced algorithm allowed to increase the profit of the A- and B- group products by 22,13% and 9,23%, respectively. Its positive quality is that it is easily implemented in practice.

    BIBLIOGRAPHY
     
    1.Ефимов М. В. Использование инструментов маркетинга в обеспечение конкурентоспособности SRL«EVM-Angro». Дипломная работа. Кишинёв, 2012. 110с.
    2.Портер М. Е. Конкуренция.: Пер. с англ. Москва: Издательский дом "Вильямс", 2005.608c.
    3.Герасименко О.Н. Экономическая эффективность маркетинговой деятельности предприятия. Диссертациякандидата экономических наук. Санкт-Петербург,2002. http://www.dissercat.com/content/ekonomicheskaya-effektivnost-marketingovoi-deyatelnosti-predpriyatiya (посетил 12.03.2013).
     
     

     

    Автор: EVM- Angro от 24.03.2014
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