UNIVERSITI TUNKU ABDUL RAHMAN

ACADEMIC YEAR 2019/2020

MAY FINAL ASSESSMENT

UALE2003 ENGLISH FOR MANAGEMENT

TUESDAY, 5TH MAY 2020 DURATION: 10AM TO 2PM (4 HOURS)

BACHELOR OF ACCOUNTING (HONS)

BACHELOR OF BUSINESS ADMINISTRATION (HONS)
BACHELOR OF BUSINESS ADMINISTRATION (HONS) BANKING AND FINANCE
BACHELOR OF BUSINESS ADMINISTRATION (HONS) ENTREPRENEURSHIP
BACHELOR OF BUSINESS ADMINISTRATION (HONS) RETAIL MANAGEMENT
BACHELOR OF ECONOMICS (HONS) FINANCIAL ECONOMICS
BACHELOR OF FINANCE (HONS)
BACHELOR OF INTERNATIONAL BUSINESS (HONS)
BACHELOR OF MARKETING (HONS)
BACHELOR OF COMMERCE (HONS) ACCOUNTING
BACHELOR OF BUILDING AND PROPERTY MANAGEMENT (HONS)

Instructions to Candidates:

1. This assessment consists of TWO (2) sections. Answer all questions.

2. No discussion allowed amongst students. No sharing of answers amongst students.
3. Use the UALE2003 Final Assessment Answer Template and final assessment declaration
form provided and email it to UALE2003.FAS@utar.edu.my on 5th of May 2020 by 2pm.
4. 20% marks will be deducted from the overall marks for any submission after 2pm on 5th
of May 2020.
5. All submission must be in Word Document format (PDF files are not accepted).
6. Students are required to use their UTAR EMAIL ID ONLY to send in their answer
scripts. Emails from personal accounts will automatically be rejected.
7. One student is allowed to send the answer script (email) once only. Second submission
will automatically be deleted. Double check your work before emailing it.
8. ALL assessments shall be submitted into Turnitin for similarity checking by the course
examiner. Any candidate found to be dishonest during the final assessment may be liable
to disciplinary action.
9. Use Times New Roman font size 12, double space paragraph format.
10. For a candidate who falls ill during the final assessment and is unable to continue and
finish the final assessment the candidate is considered to have sat for the final assessment
and grade would be awarded based on this attempt. The candidate is not allowed to appeal
or apply for special consideration to sit for a Replacement final assessment. The candidate
has to repeat the course.
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UALE2003 ENGLISH FOR MANAGEMENT

SECTION A [TOTAL: 60 MARKS]

This section consists of ONE (1) COMPULSORY question.

READING COMPREHENSION

Q1. Read the following passage and answer ALL questions that follow.

How to Establish the Right Pricing Rules for Your Business

1 Today, if businesses want to have a good standing in their industry, the prices that
they offer have to be optimal. As a result, implementing pricing rules into your
business strategy has proven to be highly constructive. However, realizing this form
of pricing is not as simple as many would like it to be, especially if they do so
manually.

2 After all, if you spend countless hours manually filling out spreadsheets with
calculations, you will find very little time to focus on more critical business tasks. In
addition to taking up a lot of your time, there will also be a Mean Absolute Percent
Error (MAPE) since humans are not perfect. Hence, all of your hard work will not
even lead you to the desired results to reach your objectives. So, how can pricing
rules help you?

3 Automatically implementing pricing rules into all products and services that have a
price, provides you with the better optimized price at any given time. However, to
reap the benefits, your firm has to use updated pricing rules and strategies. So, how
can one determine the best pricing rules?

4 In order to do that, you first have to figure out who your customers truly are, get to
know your competition, and define your objectives well. With this information, you
will have a solid sense of how the audience approaches purchasing at point of sale,
which, in turn, will help you establish the best pricing rules that are specific to your
company.

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UALE2003 ENGLISH FOR MANAGEMENT

Q1. (CONTINUED)

5 To establish the best pricing, you will have to propagate different strategies. Whether
it be on a product or your business model, you must be hands-on in this process. This
way, you will be able to figure out how consumers respond to a higher or lower price,
for instance. You must also monitor how your sales do on each platform. Tracking
how your rivals react to your changes in prices is also essential. While this part is
manual, know that this hard work will pay off in the long run as your rules-based
pricing solution will operate with a much higher rate of success. This daunting task
necessitates going over a few standard pricing rules.

6 The other thing that you can try is setting your price to its Minimum Advertised Price
(MAP). You will find the most success with this strategy if the item or service is not
unique while it has a reasonably large sales volume, with many retailers selling it as
well. If you end up noticing your profit getting impacted negatively, then use this
information to understand where your lower limits lie.

7 You can also try pricing your products or services higher than your usual prices to get
a good understanding of where your upper limits lie. By knowing the location of both
your upper and lower limits, you will know exactly where to keep your prices at to not
only keep your sales afloat but also to keep your brand image intact.

8 To conclude, once you test out various pricing rules and strategies, you can use this
information alongside an automated tool that implements pricing rules to see the
results that you have been going after all this time. Make sure that you also include
other, more varying information such as promotions and competitor prices, to name a
few, to ensure the most optimal prices at all times!

(Adapted from: https://www.startupoverseas.co.uk/news/how-to-establish-the-right-pricing-

rules-for-your-business.html)

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UALE2003 ENGLISH FOR MANAGEMENT

Q1. (CONTINUED)

(a) What are the TWO (2) challenges in establishing the right price? (4 marks)

(b) State THREE (3) prerequisites to determine the best pricing rules. (6 marks)

(c) List FOUR (4) other strategies to ensure optimal prices. (8 marks)

(d) How does Minimum Advertised Price (MAP) as in paragraph 6, benefit business
owners? Explain. (8 marks)

(e) Why do you think it is important to recognize your upper limits and lower limits?
Elaborate your reasons. (4 marks)

(f) Based on your opinion, mention FIVE (5) other factors to consider when
determining product pricing? Provide ONE (1) elaboration for each factor.
(30 marks)

[Total: 60 marks]

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UALE2003 ENGLISH FOR MANAGEMENT

SECTION B [TOTAL: 40 MARKS]

This section consists of ONE (1) COMPULSORY question.
REPORT WRITING

Malaysian International Furniture Fair (MIFF) 2020 boasts the presence of top furniture
decor in South Asia. This event showcases products and services, ranging from an exclusive
collection of children’s furniture to youth furniture in the furniture industry from countries
such as India, Pakistan, Bangladesh, Sri Lanka, Nepal and Bhutan. Every furniture trend gets
exhibited in this event. This year, MIFF will be held from 06th to 09th June 2020 at Putra
World Trade Centre, Kuala Lumpur, Malaysia.

Rainbow Event Management Company Malaysia is specialized in organizing exhibitions on

furniture. Hence, it has been selected as the main organizer of this fair and you have been
appointed as the chairperson of the organizing committee.

Past Progress
Exhibitors

Present Status
Sponsors

Future Schedule
Media team

Your task:

Write a memo report to notify Mr. Arvind Kumar, the Managing Director of Rainbow Event
Management Company Malaysia, about the progress of your work. Besides reporting the
details given above, you are required to include ONE (1) additional point for each stage of
the preparation. The body of your report with proper headings and/or subheadings should be
about 350 words.
(40 marks)

[Total: 40 marks]

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This question paper consists of 2 questions on 5 printed pages.