Fund of Marketing and Sales
robrt.15
Assessment2_PlaceandPriceAnalysis.docx· Overview
Continue your exploration of your chosen product by completing a product and price analysis.
Companies need to decide how will they distribute their products, which distribution channels they will use, and which pricing approaches and strategies they will apply in order to both make a profit and make the price attractive to the final consumer . . . you.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
· Competency 1: Examine the basic marketing models for a business or organization.
1. Accurately identify where the product is sold.
1. Accurately define the pricing system along with its characteristics and impact on the marketing mix.
1. Address assessment purpose in a well-organized text, incorporating appropriate evidence and tone in grammatically sound sentences.
. Competency 2: Relate the importance of an integrated marketing program to the economic impact of a business.
2. Provide an evaluation of the pricing system and its impact on economic success.
. Competency 3: Examine the relationship of basic marketing strategies to business success.
3. Provide an evaluation of place strategies and its impact on business success.
. Competency 4: Apply effective marketing planning and implementation.
4. Accurately detail the chosen product's distribution channels.
Competency Map
CHECK YOUR PROGRESS Use this online tool to track your performance and progress through your course.
Questions to Consider
As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. Consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.
Resources
Price and Place
Distribution and pricing are two important decisions companies will make that are tied directly to competitive actions. Read more:
. Lamb, C. W., Hair, J. F., & McDaniel, C. (2019). MKTG 12 (12th ed.). Cengage Learning. Available in the courseroom via the VitalSource Bookshelf link.
1. Chapters 13 and 19.
You may find helpful the following information as you prepare for your assessment:
. Assessment 2 Context [PDF] .
Have some fun with this formative assessment as you help a new marketing operations manager to make decisions. This activity is ungraded and will not affect your course standing:
Laws of Marketing
Explore the laws of marketing:
. Ries, A., & Trout, J. (1994). The 22 immutable laws of marketing. Harper Business. Available in the courseroom via the VitalSource Bookshelf link.
4. Chapters 16–22.
· Assessment Instructions
Note: Assessments 1–3 in this course require you to complete a marketing analysis. Because they build on each other, it is recommended but not required that you complete them in sequence.
Overview
Continue with the second part of your marketing analysis and focus on the next of the 4 Ps—the price and place actions of your chosen company.
Preparation
Rather than picking a service-oriented company, pick one that makes or sells products. Use the same company for all assessments in this course. Try to go beyond the typical consumer electronic offerings, such as Apple. If you are in doubt about your chosen company but if it will work for the project, please ask your faculty member.
Instructions
Create a place analysis in which you do the following:
. Accurately identify all areas where the product is sold.
. Accurately analyze the chosen product's distribution channels.
2. How are they getting their product to market?
2. Which distribution strategies are being used to effectively create a competitive advantage?
. Provide an analysis of the place strategies and their effect on business success.
3. Describe how the distribution decisions affect the other Ps in the marketing mix.
3. What recommendations can you make in terms of distribution decisions that may improve business success?
Create a price analysis in which you do the following:
. Accurately analyze the pricing system along with its characteristics and effect on the marketing mix.
4. Which pricing strategy does the company use, and how does it compare to similar products in the product category?
. Analyze the pricing strategy's impact on the economic success of the company?
5. Describe the effect of the pricing strategy on the overall success of the company.
In both analyses:
. Cite any resources you use.
. Be sure your analyses present a focused purpose through strong organizational skills. Also be sure they presents evidence through strong paraphrasing/summarizing and appropriate tone and sentence structure.
Note: Faculty may use the Writing Feedback Tool when grading this assessment. The Writing Feedback Tool is designed to provide you with guidance and resources to develop your writing based on five core skills. You will find writing feedback in the Scoring Guide for the assessment, once your work has been evaluated. Learn more about the Writing Feedback Tool on the course Tools and Resources page.
ADDITIONAL REQUIREMENTS
. Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional.
. References: References and citations are formatted in a consistent style, with a preference for using APA style and formatting .
. Number of resources: Use a minimum of three scholarly resources related to the content of the assessment.
. Length of paper: Approximately 3–4 typed, double-spaced pages, in addition to the title and references pages.
. Font and font size: Times New Roman, 12 point.
