Expert answer:Price and Channel Strategy
Solved by verified expert:Purpose of Assignment This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study. Assignment Steps Construct a minimum 700-word plan for setting price and a distribution model (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 section of the marketing plan.Price and Place/Distribution:Distribution StrategiesChannels, Mass, Selective, ExclusivePositioning within channelsDynamic/Static Pricing StrategiesChannel tactics (Pricing)Daily pricing, promotion pricing, List pricingNote: Charts/graphs/tables do not count toward the word count.The plan will be a continuation of the prior assignments you did on Samsung. I have attached the other assignments just as a reference. Cite a minimum of three peer-reviewed references.Format your assignment consistent with APA guidelines.
mkt571r10_marketing_plan_outline_and_timeline.doc
mkt571r10_wk4_gg_price_and_channel_strategy.doc
mkt571r10_wk1_gg_researching_marketing_questions.doc
mkt571r10_wk2_gg_understanding_target_markets.doc
mkt571r10_wk3_gg_promotion_and_the_product_life_cycle.doc
Unformatted Attachment Preview
Marketing Plan Outline and Timeline
MKT/571 Version 10
University of Phoenix Material
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.
•
Executive Summary:
o
o
o
o
•
Situational Analysis:
o
o
o
o
o
o
o
o
•
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
•
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):
Copyright © 2017 by University of Phoenix. All rights reserved.
1
Marketing Plan Outline and Timeline
MKT/571 Version 10
o
o
o
o
o
•
Demographics
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
•
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.
•
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
•
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
•
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
Copyright © 2017 by University of Phoenix. All rights reserved.
2
Marketing Plan Outline and Timeline
MKT/571 Version 10
cycle.
Week 4: Price and Channel Strategy
•
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?
Copyright © 2017 by University of Phoenix. All rights reserved.
3
Price and Channel Strategy Grading
Guide
MKT/571 Version 10
Marketing
Copyright
Copyright © 2017, 2016 by University of Phoenix. All rights reserved.
University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.
Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All
other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended
to imply endorsement, sponsorship, or affiliation.
Price and Channel Strategy
Grading Guide
MKT/571 Version 10
Edited in accordance with University of Phoenix® editorial standards and practices.
2
Price and Channel Strategy
Grading Guide
MKT/571 Version 10
Individual Assignment: Price and Channel Strategy
Purpose of Assignment
This assignment is designed to help students analyze and understand how price setting and go to market
(distribution) are interrelated and affects the profitability and growth of the business. The assignment is to build
a pricing strategy that incorporates channel power and is part of the overall marketing plan. It has been
designed to be a short overview on purpose: The concepts of pricing and distribution are complex and a
general understanding is what should be absorbed in one week of study.
Grading Guide
Content
Met
Partially
Met
Not Met
Total
Available
Total
Earned
6
#/6
Partially
Met
Not Met
Comments:
Student’s plan for setting price and a
distribution model (place/distribution)
addresses at least three elements from the
Price and Place/Distribution list provided
here:
• Price and Place/Distribution:
o Distribution Strategies
o Channels, Mass, Selective, Exclusive
o Positioning within channels
o Dynamic/Static Pricing Strategies
o Channel tactics (Pricing)
o Daily pricing, promotion pricing, List
pricing
The plan is a minimum of 700 words in length.
Note: Charts/graphs/tables do not count
toward the word count.
Writing Guidelines
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Met
Comments:
3
Price and Channel Strategy
Grading Guide
MKT/571 Version 10
Writing Guidelines
Met
Partially
Met
Not Met
Total
Available
Total
Earned
2
#/2
8
#/8
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
4
Researching Marketing Questions
Grading Guide
MKT/571 Version 10
Marketing
Copyright
Copyright © 2017, 2016 by University of Phoenix. All rights reserved.
University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.
Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All
other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended
to imply endorsement, sponsorship, or affiliation.
Researching Marketing Questions
Grading Guide
MKT/571 Version 10
Edited in accordance with University of Phoenix® editorial standards and practices.
2
Researching Marketing Questions
Grading Guide
MKT/571 Version 10
Individual Assignment: Researching Marketing Questions
Purpose of Assignment
This assignment is designed to help students analyze and interpret primary and/or secondary data and
research. First, students will be provided with a marketing report that allows for preparing basic executive level
data insights. Second, they will be allowed to pick a company and product or service. This assignment will help
prepare students for the development of their marketing plan. Students will be creating a marketing plan (refer
to Marketing Plan and Outline document) so they may want to choose a company and product or service that
has data readily available or where they can use demographic/psychographic data to provide insights.
Resources Required
Week 1 Business Growth Overview
Grading Guide
Content
Student analyzes the dataset and provides insight
and commentary in the form of a memorandum.
Student’s analysis includes major areas of increase
and decrease in revenue or type and/or category of
business.
Student’s analysis includes trends that are evident in
terms of revenue or type and/or category of
business.
Student’s analysis includes insights that would help
formulate marketing strategies to either continue
growth or reverse decline.
Student’s analysis includes additional analysis you
(as SVP) would like (and why) to build a marketing
goal and strategy or strategies.
The memorandum is a minimum of 525 words in
length.
Student selects a global or multi-regional (does
business in more than one country) company and
one of its products or services that will serve as the
basis for your marketing plan.
Students prepares a summary document and sends
it to the instructor that includes but is not limited to:
• Name of Company
Met
Partially
Met
Not Met
Comments:
3
Researching Marketing Questions
Grading Guide
MKT/571 Version 10
Content
•
•
•
•
Met
Partially
Met
Not Met
Total
Available
Total
Earned
3
#/3
Comments:
Location of Company Headquarters
Name of Product or Service selected
General description of company (number of
employees, revenue, type of ownership, web
page, etc.)
General description of product or service.
The summary document is a minimum 175 words in
length.
Writing Guidelines
Met
Partially
Met
Not Met
Total
Available
Total
Earned
1
#/1
4
#/4
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
4
Understanding Target Markets Grading
Guide
MKT/571 Version 10
Marketing
Copyright
Copyright © 2017, 2016 by University of Phoenix. All rights reserved.
University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.
Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All
other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended
to imply endorsement, sponsorship, or affiliation.
Understanding Target Markets
Grading Guide
MKT/571 Version 10
Edited in accordance with University of Phoenix® editorial standards and practices.
2
Understanding Target Markets
Grading Guide
MKT/571 Version 10
Individual Assignment: Understanding Target Markets
Purpose of Assignment
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying
influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It
provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for
understanding a business.
Grading Guide
Content
Student creates the research section of
his/her marketing plan and includes at least 3
elements of the research list of topics
provided here:
• Research List of Topics
o Primary Research
o Secondary Research
o Consumer Analysis
o Customer Profile
o Continuous Consumer Monitoring &
Research
o Environmental Scanning
o Identify Market, Economic,
Technological, Regulatory, Legal,
Social, and Ecological Forces
o Current Opportunities
o Potential Future Opportunities
o Current Threats
o Potential Future Threat
Any diagram(s) provided (not required) are in
APA format and includes discussion providing
insight and clarity.
Student develops the first two parts of the
Target Market section, which includes an
overview of the demographics (age, income,
family members, and birthdays) and
psychographics (activities, interests, and
opinions) analysis.
Student explains the insights he/she has
gained from his/her inspection and analysis of
the demographic and psychographic
information he/she has found.
The Research section is a minimum of 700
words in length.
Met
Partially
Met
Not Met
Comments:
3
Understanding Target Markets
Grading Guide
MKT/571 Version 10
Content
Writing Guidelines
Met
Met
Partially
Met
Not Met
Total
Available
Total
Earned
3.5
#/3.5
Partially
Met
Not Met
Total
Available
Total
Earned
1.5
#/1.5
5
#/5
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
Comments:
4
Promotion and the Product Life Cycle
Grading Guide
MKT/571 Version 10
Marketing
Copyright
Copyright © 2017, 2016 by University of Phoenix. All rights reserved.
University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.
Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All
other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended
to imply endorsement, sponsorship, or affiliation.
Promotion and the Product Life
Cycle Grading Guide
MKT/571 Version 10
Edited in accordance with University of Phoenix® editorial standards and practices.
2
Promotion and the Product Life
Cycle Grading Guide
MKT/571 Version 10
Individual Assignment: Promotion and the Product Life Cycle
Purpose of Assignment
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 3 areas of the product life cycle. The primary objective of this
assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of
a product or service. A secondary objective is to understand the differences in a product launch in the U.S.
(domestic market) and an international market.
Grading Guide
Content
Student’s product strategy addresses at least
three areas of the product life cycle (NPI-new
product introduction, growth, maturity and
decline).
Student’s product strategy addresses how
he/she will measure (what metrics will be
used to determine success or failure) the
marketing activities.
Student’s product strategy includes the
creation of at least two different types of
media methods for the products. One media
method must be a print method and one must
be non-print. A media method is a media
strategy which highlights his/her product.
Student has 2-3 sentences about each media
method (i.e. one paragraph of what he/she
would do, not how to do it). Student does not
use the Facebook example provided here:
• Product and Promotion:
o Integrated Marketing
Communication
o Advertising Strategy/Objectives
o Push and Pull
o Media Strategy
o Advertising Execution
o Direct Marketing
o Public Relations/Strategies
o Positioning
Student’s product strategy addresses three
elements of the Product and Promotion List
provided in the assignment.
The product strategy is a minimum of 700
words in length. Note: Charts/graphs/tables
Met
Partially
Met
Not Met
Comments:
3
Promotion and the Product Life
Cycle Grading Guide
MKT/571 Version 10
Content
Met
Partially
Met
Not Met
Total
Available
Total
Earned
3.5
#/3.5
Partially
Met
Not Met
Total
Available
Total
Earned
1.5
#/1.5
5
#/5
Comments:
do not count toward the word count.
Writing Guidelines
Met
The paper—including tables and graphs,
headings, title page, and reference page—is
consistent with APA formatting guidelines and
meets course-level requirements.
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
4
…
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