Expert answer:Pricing and Channel Strategies
Expert answer:Assignment Steps Construct a minimum 700-word plan for setting price and a distribution models for your selected product/service in the domestic and international markets selected (place/distribution) in Microsoft® Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution sections of the marketing plan – for each country, explain what is now done, and what changes might be considered.Price and Place/Distribution:Distribution StrategiesChannels, Mass, Selective, ExclusivePositioning within ChannelsDynamic/Static Pricing StrategiesOther types of Pricing Strategies (market skimming, market penetration, premium pricing, etc.)Channel tactics (Distribution)Daily pricing, promotion pricing, List pricingNote: Charts/graphs/tables do not count toward the word count.The plan will be a continuation of your global or multi-regional business you chose in Week 1 (Intel Corp. (China) Mobile products). This will be incorporated into your overall marketing plan for Week 6.Cite a minimum of three peer-reviewed references as well as other sources. Leverage learning from this course by defining and discussing marketing principles/concepts relevant to this week’s assignment.Format your assignment consistent with APA guidelines.
marketing_plan_outline_and_timeline.doc
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Marketing Plan Outline and Timeline
Marketing Plan
You are expected to develop a marketing plan, according to the outline below, for a product or service of
your choosing. The product or service must be identified by the end of Week 1. The product or service
you select is used to develop the assignments for Weeks 2 through Week 6. References must be
included for each section.
There are no defined standards for the length of the marketing plan; however, your plan must disclose
complete marketing strategies and provide reliable and valid references and data supporting the
strategies to convince the target audience. The plan must be written in plain language that would be
easily understood by stakeholders.
Marketing Plan Outline
Your final marketing plan must consist of the following sections. Refer to the timeline for due dates for
each section and subsection. Assignments may include modifications to these lists. Please use lists
provided in assignments only.
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Executive Summary:
o
o
o
o
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Situational Analysis:
o
o
o
o
o
o
o
o
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Vision, Mission, Strategic objectives, Values
Internal Analysis
Strengths/Weaknesses
Capability/Capacity
Competitor’s Strengths/Weaknesses
Technological Competency
Product or Service Analysis
Market Segments
Research
o
o
o
o
o
o
o
o
o
o
o
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Strategic Objectives
Products or Services
Resources Needed
Projected Outcomes
Primary Research
Secondary Research
Consumer Analysis
Customer Profile
Continuous Consumer Monitoring & Research
Environmental Scanning
Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
Current Opportunities
Potential Future Opportunities
Current Threats
Potential Future Threat
Target Market(s):
o
Demographics
2
o
o
o
o
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Psychographics
Ethical Issues
Legal Issues
Social Issues
Product, Place/Distribution, Promotion, and Price Strategies:
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
Product Descriptions and Product/Service Mix Strategies
Product/Service Determinants
Creating a Brand Image
Maintaining Brand Image
Branding Concerns
Distribution Strategies
Channels, Mass, Selective, Exclusive
Promotion/Integrated Marketing Communication
Advertising Strategy/Objectives
Push and Pull
Media Strategy
Advertising Execution
Sales Promotion
Direct Marketing
Public Relations/Strategies
Positioning
Dynamic/Static Pricing Strategies
Marketing Plan Timeline
Week 1: Marketing Plan Topic
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Consider your company and product or service selection in Week 1. You may select an existing
type of product or service or a new product or service but it must be global or multi-regional. Once
you have selected your product or service, you must define the size and type of company that
provides the product or service (available from annual reports). This need not be elaborate but
must include total number of employees, production volume, distribution methods, and so forth.
Company and product or service selection is a critical part of this project. You must ensure your
proposed company can implement the marketing methods discussed in the text.
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Key to creating an effective marketing plan is the ability to analyze the environment in which the
product or service will be offered. The Week 1 assignment allows you to begin to understand
various reports and how they can be used in your marketing plan.
Week 2: Understanding Target Markets
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To develop effective relationship marketing, a company must first understand its targeted
consumers’ buying influences and behaviors. In Week 2, create the Research section of your
plan. In addition, create the first two parts of the Target Market section, which includes performing
the demographics and psychographics analysis.
Week 3: Promotion and the product life cycle
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All products/services go through a life cycle of NPI (new product introduction), growth, maturity
and decline. These various stages affect the marketing strategy and promotional efforts. In Week
3, you will incorporate a promotion strategy that addresses at least three areas of the product life
cycle.
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Week 4: Price and Channel Strategy
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How one goes to market and the influences of the channel (channel power, strength of channel,
speed of channel, etc.) affects the pricing strategy of the product or service. In Week 4 your
pricing and distribution strategy will be incorporated into the marketing plan.
Week 5: Marketing Communication and Brand Strategy
•
Brand strategy and the communication of the brand is essential to understanding the various
phases of a product or service (viz a viz the life cycle). Brand recognition is based in the
marketing communication efforts of the firm. When you hear or see the word Coke, you
immediately know it is Coca Cola. When you see five interlocking rings of different colors you
know that is the symbol for the Olympics. In Week 5, you will develop a brand and communication
strategy for your product.
Week 6: Executive Summary, Legal, Social and Ethical Issues, Final Plan
•
Review your final plan. Does the plan effectively analyze market strategies? Are the social,
ethical, and legal considerations valid and accounted for? What is the relationship among quality,
price, satisfaction, and perceived value within the plan?
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