Chapter 5 YOU ARE THE OWNER OF A PUBLIC GOLF COURSE. (For profit organization) You must save it as a Word .docx document, not rich text format. Do some brainstorming with your shareholders and answer the following questions: Please answer in paragraph format, complete sentences and use the terms given when possible so that I know you understand the terms. 1) Explain why your organization is a “for profit” organization.. 2) What are some preconceptions that consumers may have about ″price″ and ″quality?” 3) What will be your strategy in reference to setting the price to establish value? 4) What can you do to make sure your golf pro gets paid by the consumer? 5) What can you do to make sure the golf pro does not consistently have clients that cancel practice? 6) What can you do to encourage purchasing a ″membership″? 7) What can you do to get golfers to play in the off season? 8) What can you do to attract new golfers? 9) Should adults, children, and senior citizens all pay the same price? Why? 10) Should members have extra benefits? If so, what benefits will you offer? 11) Is it appropriate to charge for public service and why? 12) Is it appropriate to charge for merit service and why? 13) Is it appropriate to charge for private service and why? 14) Monetary Price- What are the costs to the golfer to participate in the sport? 15) Opportunity Price – What are some of the opportunity cost to the golfer? 16) Psychological Price What psychological prices may the golfer incur? 17) Effort Price – What effort cost may a golfer incur? 19) Competitive Approach – What are some advantages and disadvantages to this approach? 20) Market Pricing What are some advantages and disadvantages to this approach?