Assignment 3: Promotion and Pricing Strategies

Assignment 3: Promotion and Pricing Strategies

Due Week 8 and worth 135 points

"Entrepreneurs must determine what to sell, to whom and how often, on what terms and at what price,

and how to get the product or service to the customer. In short, a marketing plan identifies a company's

target customers and describes how it will attract and keep them. The process does not have to be

complex." (Scarborough & Cornwall, 2015, p. 274).

With this assignment, you will address some of the basic areas within a marketing plan and help to

refine your strategies for creating a successful business.

Using the business from Assignment 2, write a three to four (3-4) page paper in which you:

1. Identify its primary target market.

2. Specify three (3) methods you will use to research customer needs and wants.

3. Describe the marketing mix: a) product, b) pricing strategy, c) promotion, and

d) placement/distribution.

4. Create a one-year advertising budget and plan that incorporates the use of various advertising

media and publicity.

5. Include at least two (2) references outside the textbook.

Your assignment must follow these formatting requirements:

• This course requires use of Strayer Writing Standards (SWS). The format may be different than

other Strayer University courses. Please take a moment to review the SWS documentation for

details (more information and an example is included in the Strayer Writing Standards left menu

link).

• Include a cover page containing the title of the assignment, the student's name, the professor's

name, the course title, and the date. The cover page and the reference page are not included in

the required page length.

The specific course learning outcomes associated with this assignment are:

• Describe and analyze the necessary activities and key decisions to start a small business.

• Use technology and information resources to research issues in small business management.

• Write clearly and concisely about small business management using proper writing mechanics.

Click here to view the grading rubric.

Points: 135 Assignment 3: Promotion and Pricing Strategies

Criteria Unacceptable

Below 60% F

Meets Minimum

Expectations

60-69% D

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Identify its primary

target market.

Weight: 20%

Did not submit or

incompletely

identified its primary

target market.

Insufficiently

identified its primary

target market.

Partially identified its

primary target market.

Satisfactorily

identified its primary

target market.

Thoroughly identified

its primary target

market.

2. Specify three (3)

methods you will use

to research customer

needs and wants.

Weight: 25%

Did not submit or

incompletely specifed

three (3) methods you

will use to research

customer needs and

wants.

Insufficiently specifed

three (3) methods you

will use to research

customer needs and

wants.

Partially specifed three

(3) methods you will

use to research

customer needs and

wants.

Satisfactorily specifed

three (3) methods you

will use to research

customer needs and

wants.

Thoroughly specifed

three (3) methods you

will use to research

customer needs and

wants.

3. Describe the

marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

Weight: 20%

Did not submit or

incompletely

described the

marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

Insufficiently

described the

marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

Partially described the

marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

Satisfactorily

described the

marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

Thoroughly described

the marketing mix: a)

product, b) pricing

strategy, c) promotion,

and d)

placement/distribution.

4. Create a one-year

advertising budget and

plan that incorporates

the use of various

advertising media and

publicity.

Weight: 20%

Did not submit or

incompletely created a

one-year advertising

budget and plan that

incorporates the use of

various advertising

media and publicity.

Insufficiently created a

one-year advertising

budget and plan that

incorporates the use of

various advertising

media and publicity.

Partially created a one-

year advertising

budget and plan that

incorporates the use of

various advertising

media and publicity.

Satisfactorily created a

one-year advertising

budget and plan that

incorporates the use of

various advertising

media and publicity.

Thoroughly created a

one-year advertising

budget and plan that

incorporates the use of

various advertising

media and publicity.

5. Two (2) references

outside the textbook

Weight: 5%

No references

provided

Does not meet the

required number of

references; all

references poor quality

choices.

Does not meet the

required number of

references; some

references poor quality

choices.

Meets number of

required references; all

references high quality

choices.

Exceeds number of

required references; all

references high quality

choices.

6. Clarity, writing

mechanics, and

formatting

requirements.

Weight: 10%

More than 8 errors

present

7-8 errors present 5-6 errors present 3-4 errors present 0-2 errors present