markerting

MKT380Deliverable3.docx

MKT380 – Retailing and Merchandising Spring 2021

Group deliverable 3 guidelines (10%)

Project Title: New venture retailing strategy formulation

Project Description

The main purpose of this project is to develop a Retail strategy for imaginative company that you would like to start in Kuwait.

Deliverable 3: Group report- Pricing strategy (10%) Ch.13

A. Price sensitivity: (20 points/10 points each)

1. Do your customers have high or low price sensitivity to your products? Justify your answers.

2. How does this translate for your products pricing strategy?

B. Pricing strategy 1 analysis: Value based pricing (20 points/10 points each)

1. If you were to adopt a value based pricing, which method would you use and why? (High/low pricing, everyday low pricing, etc…)

2. Apply this method giving concrete examples analysis for 3 products/services you offer.

C. Pricing strategy 2 analysis: Competition based pricing (20 points/10 points each)

1. After conducting a research about the competitors’ price lists, present your findings in a table format for 3 products/services.

2. Present the reasons why you would decide to price: below, equal or higher than competitors.

D. After conducting the above research and analysis, which pricing strategy suits your business more and why? (5 points)

Grading Rubric (deliverable 3)

	Criteria	Unsatisfactory	Pass	Good	Excellent	Maximum score %
Format (15%)	Writing skills (Spelling, Narrative, grammar, clarity of ideas)	2	3	4	5	5
	Structure (Cover page, References, Titles and headers, spacing)	2	3	4	5	5
	Assignment requirement (length, format, content)	2	3	4	5	5
Skills (20%)	Creativity, ideas & knowledge of marketing concepts and techniques (LO6)	2	3	4	5	5
	Critical & Analytical thinking (LO9)	2	3	4	5	5
	Understanding of the marketplace and the customer needs (LO7)	2	3	4	5	5
	Teamwork & communication skills (LO 1& 2)	2	3	4	5	5
A- Price sensitivity:				20 (10 points each)
B- Pricing strategy 1 analysis: Value based pricing				20 (10 points each)
C- Pricing strategy 2 analysis: Competition based pricing				20 (10 points each)
D- Choice of pricing strategy				5
Total				100