London Case Study Example | Topics and Well Written Essays - 500 words

London - Case Study Example Project managers should ensure they select tactics, which will work in favor of the organizations’ goals and objectives. During the 2012 London Olympic Games, the challenge was to ensure maximum participation and revenue for the organizations responsible for managing the events (President and Fellows of Harvard College, 1). A good pricing strategy enables organizations to utilize their resources effectively. The organizations are able to achieve this by ensuring that all available capacity is utilized effectively without unnecessary wastage. This reduces the operation cost since the fixed cost decreases with the increase in units of output. In 2012 London Olympic Games, organizers of the event were able to ensure that all capacity was utilized by selling all tickets for available seats to interested individuals and that no seats were left vacant (According to President and Fellows of Harvard College, 2. The sales of tickets accounts for twenty percents of total revenue for Olympic Games organization. When setting prices for the company’s products, marketers should ensure that their products are accessible to as many people as possible. This will help to make the products and services popular and enable them maximize their market share. They should target clients from different classes by setting different prices for different groups’ people. In 2012 London Olympic Games, the organization responsible for coordinating the games tickets at affordable prices to ensure as many people as possible attended the games (President and Fellows of Harvard College, 3). They had estimated a total of 7.9 million people would attend the function, and so they prepared tickets for the estimated group. Setting prices for the products also requires the company to ensure that their target groups are not locked out of the organizations products. During the London Olympic Games in 2012, organization which was