1. What entrepreneurial characteristics can you identify in Sarah?
Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
SARAH SPORTS AND RECREATION
In 2003 Sarah established a company providing family focused sports and recreational facilities. It covers an area of 1700msq and offers a football pitch, two swimming pools, room hire and a kitchen. The initiative resulted from the combined passions of Sarah and her husband, who supported her from the beginning. Sarah’s husband was a keen lover of football and she herself was fond of swimming. Motivated by her education in health management and realizing the absence of any recreation facility for families in the rural area, Sarah identified an opportunity to generate an additional source of income. The venture had two phases of development. The first created a football pitch on land previously owned by the government. It took six months to develop the pitch as problems, including a lack of available workers and a delay in the import of grass from China hindered progress. The pitch started generating income in the form of hourly rental and later local football teams hired the ground on a monthly basis. The second phase, funded from profits from the rentals and support from local associations, started a year later with the construction of two swimming pools. The unavailability of professional pool construction workers resulted in delays and additional costs. Advertising and promotion, using social media, especially WhatsApp, the preferred app amongst Omanis, started early before the completion of the project. Upon completion, there was an unexpected rush of customers from Taqah, Salalah, Mirbat and other adjoining rural areas of Dhofar region. Monthly income ranges roughly from R.O.1500 to R.O.2000 and sometimes up to R.O.3,000. New activities (children’s games and bicycle races) are added to the existing portfolio to provide additional customer experiences, and during the winter the pools are heated. A large Jacuzzi is being developed and a planning application for the development of an additional 1000msq of land has been approved. Sarah offers free services and swimming sessions to disabled children. She promotes women engagement and empowerment by offering free sessions for girls in cooperation with the General Directorate of Sports Affairs in Salalah, which advocates health awareness among women. Sarah encourages young rural women to adopt entrepreneurship, and not to give up in the face of obstacles. She urges them to read success stories of entrepreneurs who have survived and prospered despite tough experiences. She believes the government should facilitate loans and financial support through the Al-Rafd fund for young Omani people so that startup ventures aren’t restricted because of financial constraints. Sarah believes that a business idea should be unique, innovative and dynamic and should attract customers because of its exclusivity. Sarah experienced difficulties accessing financial support and felt her lack of experience disadvantaged her. She mentioned various socio-cultural barriers, such as a lack of encouragement from family and friends and a gender bias towards her from the community, but said “Business is not easy and requires patience, boldness & self-confidence and willpower to overcome hiccups and obstacles during the journey”.
Based on the above information, answer the following questions:
1. What entrepreneurial characteristics can you identify in Sarah?
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