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MKT 500 Final Project Milestone Six: Marketing Strategy—Price Guidelines and Rubric Overview: Determine the price you will charge for your product, or if you have chosen a service, determine its pricing (this may be based on an “average” price per service rendered). This milestone is due in Module Six. To complete this assignment, you must:

 Calculate the price of your new product or service.

 Describe how your price allows reasonable profit in accordance with your profitability strategy.

 Share the pricing strategy that you have selected, in accordance with those provided by the author of the text and additional resources. What is your rationale for the pricing strategy selected?

 If you are using a channel of distribution, describe the profitability approach you are taking with your channel members to ensure appropriate profit at their end so that they will want to promote your product.

 Weigh your pricing strategy with pricing currently offered by your competition. Consider how your proposed price fits into the target market and compares to the competition. Your pricing should allow for sufficient profitability to allow you to cover your essential fixed costs (FC) and variable costs (VC) on which you will want to reflect (but do not have to be listed).

Rubric Guidelines for Submission: Your paper must be submitted as a 3- to 4-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and APA formatting. Incorporate at least two scholarly resources.

Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value

Marketing Mix/Price: Strategy

Has determined an appropriate pricing strategy in accordance with those detailed in the textbook and associated articles, and discusses the rationale for the selection

Has determined a pricing strategy in accordance with those detailed in the textbook and associated articles; however, it is not appropriate for the product or lacks clarity and detail

Has not determined a pricing strategy in accordance with those detailed in the textbook and associated articles

30

Marketing Mix/Price: Profitability

Demonstrates that price allows reasonable profit in accordance with profitability strategy with supporting details

Marginally demonstrates that price allows reasonable profit in accordance with profitability strategy, and lacks detail

Does not demonstrate that price allows reasonable profit in accordance with profitability strategy

30

Marketing Strategy: Relation

Describes how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes

Describes how the product marketing strategy relates to the company’s strategic focus, culture, and current business processes, but description is cursory or missing key components

Does not describe how the product marketing strategy specifically relates to the company’s strategic focus, culture, and current business processes

20

Application of Marketing Principles

All marketing principles are applied correctly and authentically

Most marketing principles are applied correctly and authentically

Marketing principles are applied incorrectly or not authentically

10

Incorporation of Scholarly Sources

Incorporates at least two properly cited, scholarly resources that reflect depth of research

Incorporates at least one properly cited, scholarly resource

Does not incorporate any properly cited, scholarly resources

5

Mechanics Errors of grammar, organization, and style are marginal and rarely interrupt the flow

Errors of grammar, organization, and style are limited enough that the paper is still able to be understood

Errors of grammar, organization, and style make the paper difficult to understand

5

Total 100%