Pricing strategy. Referring to the various pricing strategies outlined in the week’s readings, which one does your product or service currently use. Would you recommend any changes for your new target market? If so, how would you change it and why?
Principles of Marketing Week 6 Writing Assignment
Week 6 Writing Assignment
Using Marketing Channels and Price to Create Value for Customers
Marketing Channels. Student can outline a multi-channel distribution systemMarketing channel strategy. Student can recommend a marketing channel strategy for a product or service offering that assures the correct amount of intensity.Value chain. Student can discuss how each channel in the product or service offering adds value to the customer.Pricing strategy. Student can analyze a current pricing strategy and make recommendations for modifications.Directions
This assignment assesses your ability to relate marketing mix concepts of distribution and pricing to your product or service offering. You will also have a chance to recommend new distribution and pricing strategies based on your new target market to meet their needs.Prepare your assignment beginning with a title page to include your name, your product or service name, and the name of your target market. Then answer each of the following four questions in order numbering each of your responses. There is no need to repeat the question.Marketing channels. To the best of your ability, outline the marketing channels of your product or service offering as they currently exist. Refer to Figure 6.2 for some ideas. Most product and service offerings will have more than one channel, so your system should include at least two, for example (1) a direct channel for internet sales: manufacturer –> customer; and (2) an indirect channel such as manufacturer –> distributor –> wholesaler –> retailer –> customer. If your product or service only has only a direct channel, explain why. Would this channel strategy change as a result of your new target market? Why or why not?Marketing channel strategy. Why type of distribution intensity strategy does your product or service currently use? How do you know this? Would this distribution intensity strategy change for your new target market? Why or why not?Value chain. Referring back to your marketing channel diagram, discuss what each member of the value chain does to bring value to the consumer.Pricing strategy. Referring to the various pricing strategies outlined in the week’s readings, which one does your product or service currently use. Would you recommend any changes for your new target market? If so, how would you change it and why?