Marketing Plan Research Paper

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Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 1

Part 6 Pricing Decisions Worksheet

COSTS OF MARKETING PLAN

Identify costs associated with each of the following elements of the plan: Feature Cost

Product manufacture

Marketing research

Competitive intelligence

Packaging

Intermediaries

Distribution network

On-line promotion

Off-line promotion

Promotional tools design

Promotional tools production

Media costs

Sales force compensation

Domain name registration

ISP contract

Web site development – design

Web site hosting

Web-site content creation

Other

Total

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 2

Calculate break-even point for selling:

Break even = $

Can you sell enough to cover costs? Yes No

STRATEGY

Check strategy you are most likely to use:

Penetration Skimming Status-quo

Where is your product in the PLC?

Introductory Growth Maturity Decline

How will this affect your pricing strategy?

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 3

ELASTICITY

Calculate demand elasticity in off-line world: Demand elasticity =

List tactics to soften price sensitivity in on-line world:

1.

2.

3.

4.

5.

6.

POLICIES

On-line pricing policies:

Off-line pricing policies:

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 4

Justify any differences:

PRICE COMPARISON

Compare your price to your competitors. Who is higher?

Competitor Price Your Price

1.

2.

3.

4.

5.

6.

7.

8.

If serious price differences, describe how you will communicate your differential advantage:

DISCOUNTS

Check discounts you will offer to on-line customers:

Quantity Cash Functional Seasonal Promotional Rebates

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 5

Check discounts you will offer to off-line customers:

Quantity Cash Functional

Seasonal Promotional Rebates

Account for any differences in discounts allowed to two customer groups:

GEOGRAPHIC

Customers will pay shipping? Yes No

All customers pay same shipping? Yes No

Customers pay shipping based on distance? Yes No

Rationale:

SPECIAL PRICING TACTICS

Check special pricing tactics you will use:

Single-price Flexible price Service pricing Price lining Leader pricing Odd-even Bundling Two-part

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 6

If bundling to be used, list products to be bundled:

Bundled package Component 1 Component 2 Component 3

Package 1

Package 2

Package 3

Package 4

Package 5

Penalty charged for violation of product/service terms? Yes No

Will penalty apply for on-line customers? Yes No

Will penalty apply for off-line customers? Yes No

How much will the penalty be?

Identify environmental factors affecting pricing: • • • • • •

Lamb Hair McDaniel Your Product or Service Offering

Marketing 8e

Part 6 Marketing Plan Worksheet: Pricing Decisions 7

Pricing strategy during inflation:

Pricing strategy during recession:

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