MKT301 Module 4

Price
Case Assignment
To start off this assignment, first make sure to review the required background materials carefully and make sure you have a solid understanding of the various pricing strategies and when they are typically used. There is also a listing of optional readings that may help you with the concepts and could serve as useful references for this assignment.
Once you have finished reviewing the background materials, think carefully about the following situations and write a four- to five-page paper discussing what pricing strategy you would recommend in each of the situations. For each recommendation, make sure to explain your reasoning and to cite one of the required background readings in support of your recommendation. Make sure to cite at least three sources from the background materials in your paper:
- A company has developed a new 3D television with outstanding displays. The company has a patent on a new technology that doesn’t require glasses to see the 3D effect and has a display far better than those of any competitor’s 3D televisions. The company still has to compete with other television manufacturers, but because of the patent and superior technology it is likely to have a large advantage in the 3D television market for at least a year or two.
- A brand new company has developed a new dishwater detergent which is comparable to other major brands in quality, but the company has developed a new manufacturing technology that over a period of time should be able to produce detergent at a cheaper cost than any competitor. The cost of the new manufacturing equipment was high, but once the equipment is paid off it should be very cheap to produce each bottle of detergent.
- You have just opened up a new electronics shop and Apple will be releasing their latest iPhone in a few days. You are confident that once customers come into your shop they will be impressed with your large selection and knowledgeable and friendly sales staff and will become loyal customers. However, given the nearby location of Best Buy and other popular electronics shops it will be a challenge to get customers into your shop. So the first big pricing decision you have to make is what to charge for iPhones.
- You have started a new fashion company, and your partner in this business is one of the top designers in Italy. You and your business partner’s plan is to become known as one of the premier manufacturers and designers of blue jeans in the world, and hope to have a very high end brand well known among the wealthy and fashion conscience.
Assignment Expectations
- Answer the assignment questions directly.
- Stay focused on the precise assignment questions, and don't go off on tangents or devote a lot of space to summarizing general background materials.
- Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the internet, make sure it is from a credible source.
- Reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 13-14 on in-text citations. Another resource is the “Writing Style Guide”, which is found under “My Resources” on the TLC portal.
Price
By now you should have a pretty good idea about the major information sources available on the company you have chosen for your SLPs. Unfortunately, few if any companies will directly admit what pricing strategy they use. Most will say “of course we are charging you the lowest possible price”. But find out what you can about your company’s pricing strategy and also do some research on what some of your company’s competitors charge for the same products.
When you have finished researching about your company’s prices, answer the following questions:
- How does your company’s prices compare to competitors who sell the same or similar products? Overall, do your company’s prices seem high or low?
- Do you think your company is basing their pricing mostly on cost (such as a cost-plus approach) or are other factors at play? Consider the concepts of prestige pricing mentioned in Forsyth (2007) or value-based pricing mentioned in the Pearson tutorial.
- Discuss at least three other pricing strategies from the background materials and explain whether or not you think your company is using these strategies. Explain your reasoning, and remember to cite the sources where you read about the pricing strategies from in your answer.
SLP Assignment Expectations
- Answer the assignment questions directly.
- Stay focused on the precise assignment questions, and don't go off on tangents or devote a lot of space to summarizing general background materials.
- Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the internet, make sure it is from a credible source.
- Reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 13-14 on in-text citations. Another resource is the “Writing Style Guide”, which is found under “My Resources” on the TLC portal.
In addition to reviewing the textbook chapters and tutorials from background materials, I’m sure quite a few of you are also using a Google search to find information about the concepts from the module. The problem with looking at random sources online is that much of what you find online is not necessarily credible. But I know many of you are already looking at various online sources so let’s try to find some online sources that are both credible and help you understand the concepts from the background materials.
Given that this final module on pricing is probably the toughest one, I don’t blame you if you are also trying to find some videos or other online materials to help augment what you learned from the textbooks. So for this discussion go to YouTube and find a video that meets the following criteria:
- Is from a credible source – perhaps from a professor at a reputable university. Use the “Writing Style Guide” which is accessed under “Resources”. There is a section on “Identifying Credible and Reliable Sources” on page 16 that you should use as your guide to identify credible videos.
- Does a good job at clarifying some of the concepts regarding pricing strategies in marketing from the background materials.
Share the link with your classmates, and explain why you found the source to be credible and what specific concepts from the background materials it helped explain.
BSBA/BSHRM/BSL Undergraduate Discussion Grading Rubric - Timeliness v1

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Rating:
5/
Solution: MKT301 Module 4