Expert answer:Product and Price

Expert answer:Using the Waters Bottling Company in Module 1, continue to build the Marketing Plan Sections for the product you have selected/ invented/ created. Complete the following in MS Word: Be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis.This assignment represents Section 3 of the Marketing Plan. Use the guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3– Product & Price (Module 3).Section 3 – Product & Price (Module 3 LASA 1)The ProductProduct Levels: Core, Actual, & Augmented (Packaging)Product Life CycleBCG ModelServices MarketingPrice Determination & Pricing StrategiesSupply & DemandCompetitionObjectives and StrategiesYou will create a complete Marketing Plan by the end of the course. You will write the third section of the Marketing Plan for this assignment. Use the Marketing Plan guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3 – The Product & Pricing (Module 3). Relate all responses using the WBC scenario and the product you have selected to market in Module 1. Create a 4- to 6-page Word document for your Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.Assignment 2 Grading CriteriaMaximum PointsDetermine the features/ benefits of the selected product. Include the Core, Actual, and Augmented product characteristics in your analysis.20Identify the stages of the product’s life cycle and what will take place for your selected product in each stage.40Discuss the BCG Model for your product..20Examine the Services Marketing aspects of this product.10Discuss the elements for determining the price.20Compare the various Pricing Strategies for this product.20Explain the Supply & Demand aspects as they relate to the pricing strategy.20Analyze competitive pricing for similar products.20Discuss pricing as it relates to company objectives and strategies.10Writing components: Demonstrated understanding of readings, interpreting concepts, making connections, and distinguishing between fact and opinion. Presented a structured report free of spelling and grammatical errors, and applied current writing standards for editorial style, expression of ideas, and format of text, citations, and references.20Total:200

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