Selecting a pricing strategy : a statistical approach

Published ArticlePricing management, as part of the marketing strategy of an organisation, is a difficult and highly complex - but also critically important - management activity, as it affects the revenue and therefore the profits of an organisation. However, scholars such as Bruck (2010), Cram (2006:5), Eugster, Kakkar and Roegner (2000:133), Hinterhuber (2004:765) and Pratt (2007) believe that the pricing function in organisations has largely been neglected by managers and academics and that price is generally set by guesswork and not by scientific means. This article maintains that the pricing function in an organisation can be successfully managed through the implementation of a pricing plan. A critically important step in the pricing plan is to select a pricing strategy or combination of pricing strategies to set the price of a product or service. A number of nonparametric statistical tests are available to assist management in the selection of the most suitable pricing strategy, or combination of pricing strategies, when determining the price of a product or service. The aim of this article is to demonstrate the use of statistical methods in selecting a pricing strategy as part of a comprehensive pricing plan. The article contains an analysis of selected literature, while taking a descriptive and statistical approach to demonstrate the use of statistical methods in selecting a pricing strategy

The ecology of distance learning: Bridging the gap between university and student

n.a

The hydrodynamics of the Bot River Estuary revisited

For the past 20 years management of the Bot/Kleinmond estuarine system in the south-western Cape has been based on the premise that, barring intervention, the estuary was naturally evolving into a freshwater coastal lake. This paper presents evidence, based on a 20-year series of water-level data, updated runoff estimates from the catchment and dimensional data, that, in the absence of anthropogenic influences, the system is not progressing naturally, but artificially, towards becoming a freshwater system. It is concluded that the increasingly closed state of the Bot Estuary in recent years is most likely due to reduction in runoff from its tributaries and premature artificial breaching of the Kleinmond arm of the system. These findings, coupled with the high conservation importance of the Bot River Estuary, suggest that the current management plan needs urgent revaluation and that the two estuaries cannot be managed separately. Key words: Bot River Estuary, estuary management, estuary breaching policy, closed estuary, estuarine dimensions, estuarine water levels, estuarine habitat Water SA Vol.31(1) 2005: 73-8

The University of the Free State Faculty of Law/Write Site intervention – Supporting broader access with the skills for success

Heeding the call for broader access to tertiary studies for previously disadvantaged students, the University of the Free State (UFS) is one of only a few institutions in the country that offer an extended, five-year Bachelor of Laws (LLB) programme. Its more lenient admission requirements and more manageable distribution of course work across five study years have put access to professional legal studies within reach of students who would not have otherwise qualified for admission. Beyond broader access, however, still lies the challenge of student success. It is a well-documented fact that modern-day students enter higher education ill-prepared for the demands of tertiary studies, and those entering the extended LLB are no exception. The gaps in their skills sets include a lack of academic writing skills, which are among the core competencies required of a law graduate. In an effort to address this challenge, the UFS Faculty of Law has established an innovative collaboration with the Write Site, a writing centre staffed by language specialists who offer students personalised assistance with their writing assignments. This is done as part of the module Legal Skills, one of the foundational modules presented exclusively for students in the extended LLB programme. This article provides the details of the intervention, including its results to date. It concludes that the Faculty of Law/ Write Site collaboration is a model worthy of emulation, teaching students not only to write well, but also to do well in their academic field. Recommendations for fine-tuning the intervention are proposed, including a call for this type of skills assistance to be offered across the curriculum, instead of in a once-off module only. Whilst the current climate of acute human resources and funding shortfalls in higher education may make this hard to achieve, the academic success of our students and the professional success of our future lawyers and other professionals are on the line

Suicidal ideation and attempt among South African medical students

International data reveal that medical students are at higher risk of attempting suicide than the general population. We aimed to determine the prevalence of suicidal ideation and attempt among South African medical students from three universities and identify key predisposing risk factors. Data were collected via a questionnaire to medical students on demographics, mental health history, depressive symptoms, suicidal ideation and attempt. A total of 874 medical students from three universities were enrolled. We found a high prevalence of suicidal ideation (32.3%) and suicidal attempt (6.9%), which is three times higher than the general age-appropriate South African population. Simple screening questionnaires can identify such students, enabling universities to provide targeted and improved support for at-risk students.S Afr Med J 2012;102(6):372-37

Eating attitudes : The extent and risks of disordered eating among amateur athletes from various sports in Gauteng, South Africa

Abstract: Background: Preoccupation around eating and disordered eating of professional athletes has extensively been discussed in the literature. However, the extent of disordered eating behaviours at the non-professional or amateur club level in South African sport has not received the same amount of attention. Objectives: This study attempted to determine the extent of disordered eating behaviours among amateur athletes to identify the athletes at risk of developing an eating disorder. Group differences and predictive factors were explored to determine factors associated with disordered eating behaviours among amateur sporting athletes. Methods: A purposive sample of athletes (n = 278) with a mean age of 27 ± 11.30 years, from various sports clubs in Central Gauteng (in and around Johannesburg), were asked to complete the Eating Attitudes Test-26 and Sport Competition Anxiety Test. Data analysis included descriptive statistics, independent samples t-tests, analysis of variance (ANOVA) and logistic regression

The use of disinfection tunnels or disinfectant spraying of humans as a measure to reduce the spread of the SARS-CoV-2 virus

In endeavouring to mitigate the spread of the SARS-CoV-2 virus, a concerning practice of spraying individuals with disinfectant via so-called ‘disinfection tunnels’ has come to light. The Allergy Society of South Africa supports the World Health Organization in strongly condemning all human spraying, owing to lack of efficacy and potential dangers, especially to patients with coexisting allergic conditions

Semi-automated segment generation for geographic novelty detection using edge and area metrics

An approach to generating accurate image segments for land-cover mapping applications is to model the process as an optimisation problem. Area-based empirical discrepancy metrics are used to evaluate instances of generated segments in the search process. An edge metric, called the pixel correspondence metric (PCM), is evaluated in this approach as a fitness function for segmentation algorithm free-parameter tuning. The edge metric is able to converge to user-provided reference segments in an earth observation mapping problem when adequate training data are available. Two common metaheuristic search functions were tested, namely particle swarm optimisation (PSO) and differential evolution (DE). The edge metric is compared with an area-based metric, regarding classification results of the land-cover elements of interests for an arbitrary problem. The results show the potential of using edge metrics, as opposed to area metrics, for evaluating segments in an optimisation-based segmentation algorithm parameter-tuning approach

Efficacy of multi-season Sentinel-2 imagery for compositional vegetation classification

Vegetation maps are essential tools for the conservation and management of landscapes as they contain essential information for informing conservation decisions. Traditionally, maps have been created using field-based approaches which, due to limitations in costs and time, restrict the size of the area for which they can be created and frequency at which they can be updated. With the increasing availability of satellite sensors providing multi-spectral imagery with high temporal frequency, new methods for efficient and accurate vegetation mapping have been developed. The objective of this study was to investigate to what extent multi-seasonal Sentinel-2 imagery can assist in mapping complex compositional classifications at fine spatial scales. We deliberately chose a challenging case study, namely a visually and structurally homogenous scrub vegetation (known as kwongan) of Western Australia. The classification scheme consists of 24 target classes and a random 60/40 split was used for model building and validation. We compared several multi-temporal (seasonal) feature sets, consisting of numerous combinations of spectral bands, vegetation indices as well as principal component and tasselled cap transformations, as input to four machine learning classifiers (Support Vector Machines; SVM, Nearest Neighbour; NN, Random Forests; RF, and Classification Trees; CT) to separate target classes. The results show that a multi-temporal feature set combining autumn and spring images sufficiently captured the phenological differences between the classes and produced the best results, with SVM (74%) and NN (72%) classifiers returning statistically superior results compared to RF (65%) and CT (50%). The SWIR spectral bands captured during spring, the greenness indices captured during spring and the tasselled cap transformations derived from the autumn image emerged as most informative, which suggests that ecological factors (e.g. shared species, patch dynamics) occurring at a sub-pixel level likely had the biggest impact on class confusion. However, despite these challenges, the results are auspicious and suggest that seasonal Sentinel-2 imagery has the potential to predict compositional vegetation classes with high accuracy. Further work is needed to determine whether these results are replicable in other vegetation types and regions

Feasibility of Pulse Oximetry Pre-discharge Screening Implementation for detecting Critical Congenital heart Lesions in newborns in a secondary-level maternity hospital in the Western Cape, South Africa: The ‘POPSICLe’ study

Background. Early detection of critical congenital heart disease (CCHD) through newborn pulse oximetry (POx) screening is an effective strategy for reducing paediatric morbidity and mortality rates and has been adopted by much of the  developed world.Objectives. To document the feasibility of implementing pre-discharge POx  screening in well babies born at Mowbray Maternity Hospital, a busy government hospital in Cape Town, South Africa. Parent and staff acceptance was assessed.Methods. We conducted a prospective study of predischarge POx screening in one postnatal ward, following informed parental consent.Results. During the 4-month study period, 1 017 of 2 256 babies discharged  (45.1%) were offered POx screening and 1 001 were screened; 94.0% of tests took <3 minutes to perform, 4.3% 3 - 5 minutes and 1.7% >5 minutes. Eighteen patients needed second screens and three required third screens. Only 3.1% protocol errors were made, all without consequence. The vast majority (91.6%) of nursing staff reported insufficient time to perform the study screening in addition to their daily tasks, but ~75% felt that with a full nursing staff complement and if done routinely (not part of a study), pre-discharge POx screening could be successfully instituted at our facility. Over 98% of the mothers had positive comments. Two babies failed screening and required echocardiograms; one was diagnosed with CCHD and the other with neonatal sepsis. The sensitivity and specificity were 50% (95%  confidence interval (CI) 1.3 - 98.7%) and 99.9% (95% CI 99.4 - 100%),  respectively, with a percentage correct of 99.8%.Conclusions. POx screening was supported and accepted by staff and parents. If there are no nursing staff shortages and if it is done routinely before discharge, not as part of a study, we conclude that POx screening could be implemented  successfully without excessive false positives or errors, or any additional burden to cardiology services