mkt 501 module 4

Module 4 – Case

PRICING & MARKETING PLAN IMPLEMENTATION

Margins & Sales Volume

Different industries have varied benchmarks for margins. For example in restaurants alcohol margins are usually much higher than food margins. In other industries, margins are affected by seasonal demand.

Industry Research and Application

Research your product/service’s industry with regard to mark-ups and contribution margins.

  • Describe the industry
  • Discuss the margins and markups on goods or services
  • Discuss other economic factors that affect the mark-ups
  • What marketing techniques can companies use to support the pricing schemes that support their margins?

Use research from quality graduate-level resources and at least two articles from Trident Library’s full-text databases like (Academic Search Complete, Business Source Complete and/or Proquest Central). Stay away from consultant sites on the internet.

Do not use any quotations. Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person.

Use the attached APA-formatted template (MKT501 Case4) to create your submission.

ASSIGNMENT EXPECTATIONS

Your submission will include:

  • Trident University International’s cover page
  • A 4- to 5-page paper with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)
  • The reference list page in APA format

Module 4 – SLP

DISTRIBUTION & MARKETING PLAN

SESSION LONG PROJECT

You will create a final a marketing project using assignments you created during the class. It is not necessary to create new content other than an introduction and conclusion for the project; but you are required to address comments provided by your faculty member and make updates accordingly.

Using the template provided, complete the comprehensive SLP for MKT501. Since you have a series of different references lists for each assignment, you will need to combine them for this submission.

To make the work flow better, add a sentence at the end of each section or the beginning of the next to connect them.

SLP4: Strategic Marketing Plan

Product Overview
Product/Service Overview (used in your discussions)

Customer Profiling
Module 1: Week 1 Discussion Post.

Messaging
Module 1: Week 2 Discussion Post.

Customer Demographics and Psychographics
Module 1: Case.

Customer Relationship Management
Module 1: Case.

Target Audience and Competition
Module 1: SLP (Application to Product/Service).

Societal Marketing
Module 2: Week 1 Discussion Post.

Creative Message
Module 2: Week 2 Discussion Post.

Segmentation Application
Module 2: Case.

Gap Analysis, Benchmarking and Competitive Advantage
Module 2: Case.

Competition, Segmentation, Positioning, Lifetime Value
Module 2: SLP. Must be reformatted and double-spaced.

Differentiation
Module 3: Week 1 Discussion Post.

Distribution
Module 3: Week 2 Discussion Post.

IMC: Integrated Marketing Communications
Module 3: Case (Application).

Competition and Boosting online Presence
Module 3: SLP.

Pricing
Module 4: Week 1 Discussion Post.

Perceived Value
Module 4: Week 2 Discussion Post.

Margins and Sales Volume
Module 4: Case.

Use the attached APA-formatted template (MKT501 SLP4) to create your submission.

SLP ASSIGNMENT EXPECTATIONS

Your submission will include:

  • Trident University International’s cover page
  • A paper with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)
  • The reference list page in APA format

The entire paper will vary in length based on what was previously submitted.

Trident Symposium International’s (TSI) focus for this week is pricing strategy: a component of the marketing mix. Consider the Target Market, Competition, Core Strategy, and Communications & Promotions when making a decision on how pricing will be determined.

Free Offers and Pricing

WEEK 1 DISCUSSION POST

  • Provide a brief introduction of the company with which you are working.
  • Discuss what pricing objectives you would consider for your product/service.
  • Identify the pricing objective and strategy you will ultimately choose and explain why.

This post should be 3 paragraphs in length (300 words). Since you are engaging in research, be sure to cite and reference the source(s) in APA format.

WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES

1st Interactive Response:

  • Select one student’s pricing decision post. Is it supported by solid rationale? Would you make a different decision?

2nd Interactive Response:

  • Select another student’s pricing decision post. Is it supported by solid rationale? Would you make a different decision?

Each reply should be one paragraph in length (or about 75 words) and must be substantive in nature. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. You may use research in your responses, but it is not required.

Perceived Value

Not all benefits or costs can be quantified in dollars. A product’s aesthetic appeal, extra technical support, and reputation are harder to quantify in economic terms, yet they can have a profound impact on customer perceptions of value.

WEEK 2 DISCUSSION POST

  • Provide a brief introduction of the company with which you are working.
  • Discuss ways you can improve perceived customer value.
  • Analyze how psychological motives help shape emotional benefits and customer perceptions of value.
  • Analyze how the personality of an endorser shapes the emotional benefits of the product.

This post should be 200-300 words in length. Since you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format.

WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES

1st Interactive Response:

  • Select one student’s post on perceived customer value and provide a real-world researched example to back-up one scenario presented in the discussion.

2nd Interactive Response:

  • Select another student’s post on endorser effects and share an ad campaign that works for you. Explore the reasons for the positive connection.

Each reply should be one paragraph in length (or about 75 words) and must be substantive in nature. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. You may use research in your responses, but it is not required.

In your own words, respond to the discussion and comments of classmates. Grades will be based on effectual, concise, and interactive feedback. The excessive use of quotes will directly impact performance since this indicates a lack of comprehension and shows that you may not have mastered the concepts.

Module 4 – Background

PRICING & MARKETING PLAN IMPLEMENTATION

Discussion

Core Concepts of Marketing- Chapter 9 Pricing the Product (PDF)

“5 Marketing KPIs You Cannot Measure but Should Care About” – Nicole Rodrigues
http://www.marketingjournal.org/5-marketing-kpis-you-cannot-measure-but-should-care-about-nicole-rodrigues/

Case

Alternative Approaches to Determining Price (read all 5 links on the page)
http://www.opentextbooks.org.hk/ditatopic/40310

Low-Margin Business vs. High-Margin
http://smallbusiness.chron.com/lowmargin-business-vs-highmargin-23272.html

Know Your Sales Margins
https://www.entrepreneur.com/article/206390

Measuring the Impact of Economic Factors on Consumer Satisfaction and Pricing Perceptions
https://www.decisionanalyst.com/whitepapers/pricing/

SLP

Transitional Devices
https://owl.english.purdue.edu/owl/resource/574/02/

Guide to Transition Words and Sentence Samples
http://www.gallaudet.edu/tutorial-and-instructional-programs/english-center/the-process-and-type-of-writing-/guide-to-transition-words-and-sentence-samples

End of Session Self-Reflection

Class is rapidly coming to an end. Reflect on what you are taking away from the class and what improvements you’ll make to the way you think about marketing management personally and as a professional.

This post should be 2 paragraphs in length (at least 100 words). No research is required; this is a reflection assignment.

Interactive Responses To Classmates

1st Interactive Response:

  • Select one student’s post about class take-aways and compare to your attitude about the importance of the marketing discipline.

2nd Interactive Response:

  • Pick a second student’s post about improvements to be made and share your feelings.
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