Components of a Marketing Plan Part 3: Price and Promotion Strategy

THIS IS A 2 PART ASSIGNMENT –

Scenario:

Continuing with your team’s marketing plan the management needs to know how the word will get out and how much money this will make them. You will be developing two strategies: promotion and price.

References: Ch. 13: pg. 350-364; Ch. 14: pg. 372-391; Ch. 17: 470-490; Ch. 18: pg. 500-527; Ch. 19: pg. 540-558; Ch. 20 pg. 568-590.

Write a 1,050 word paper.

Select four of the following methods and explain how they should be used by your company. Explain the reasoning why they align best with your target segment, product and advertising goals of budget, reach and frequency:

• Advertising
• Public relations
• Traditional Digital marketing
• New Digital marketing techniques (describe)
• Sales promotion
• Personal Selling
• Direct marketing
• Event marketing
• Outdoor
• Select and describe the price strategy your company will use to launch its product/service. Why is that strategy the best choice and will it need to be adjusted over the duration of the Product Life Cycle (PLC)? Why or why not?
• Provide a Break Evan analysis and profits and commissions breakdown with graph.
• Cite a minimum of two peer-reviewed sources with one being from either the text, video material, or the University Library.

Scenario

The day has arrivied to enter the “Shark Tank”. Your team is to present to the board of directors your strategy to launch your new product.

Instructions for Content on Slides

Weeks 2, 3, and 4 team assignments are to be used to construct your presentations. On each week’s team assignment grading tab are attachments titled “With_Comments”. In these files are instructor comments that are highlighted to be improved upon for the presentations. Please make the corrections that are mentioned in these comments for your presentations. For example, if a comment is highlighted and says, “Please add a graph for this section on your presentation”, then on your slide for your presentation, a graph is needed for that portion.

PRESENTATION

Create a 10-15 slide PowerPoint presentation of the entire marketing plan and submit it.

The presentation will take place on Week 5.

Every team member must prepare their own slides according to their portions of the marketing plan with corrections. (There is no need to develop new material. Just what was already created in the marketing plan previously and its corrections.)

Everybody must present their own portions as a team.

Besure to cover:

• Information about the company
• Competitive Analysis
• SWOT
• The Target Market
• The Product
• Positioning Statement
• Price Strategy
• BEP
• Promotion Strategy

Use plenty of graphs and be prepared to persuede.

Format your assignment consistent with APA guidelines.