Place and Price Analysis, business and finance homework

Place and Price Analysis, business and finance homework help

Overview

• Write an analysis of place and price (the second and third "Ps" of the marketing mix) for a selected product. There is no page limit for this assessment.

Selecting the best methodology for getting a product to the targeted customer is an essential aspect of an integrated marketing plan. The establishment of value, as manifested in a product's price, is another essential part of a successful integrated marketing program.

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Context

• In contemporary marketing, timeliness is critical, given the intense competition in most markets. Many successful companies have moved to a direct sales model in order to maintain greater control and better profit margins. Selection of non-direct distribution outlets carries the sales responsibility to the retail level, as outlets provide the primary interface with each customer. For some products, distribution is now friction free (friction being the lag between demand and supply). For certain kinds of software and other digital modalities (including music), delivery can be as simple as a download to your PC: no shortage of supply and no waiting.

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Questions to Consider

• To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.

• Supply chain management is an important part of a company's distribution strategy. After reading the suggested articles in the Resources regarding REI, consider REI's current channel and methods of distribution. How does REI use supply chain management? Does this method work well? How might it be improved?
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Resources

Suggested Resources

The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom.

Library Resources

The following e-books or articles from the Capella University Library are linked directly in this course.

• Ruskin-Brown, I. (2006). Mastering marketing (2nd ed.). London, GBR: Thorogood Publishing.
• McDonald, M., & Wilson, H. (2011). Marketing plans: How to prepare them, how to use them (7th ed.). Hoboken, NJ: Wiley.
• Kermally, S. (2004). Gurus on marketing. London, GBR: Thorogood Publishing.

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1. Assessment Instructions

• Analyze the place and price for a product. You can use the same product you used for the previous assessment, or you can choose another organization or product.

Place Analysis

• Analyze distribution channels. (How does the organization get the product to market?)
• Analyze where the product is being sold and the approach to inventory.
• Analyze the relationship between the company's place strategies for the product and the company's economic success.
• Describe potential management challenges related to implementing the company's place strategies.

Price Analysis

• Analyze the pricing system for the product. Is it cost-based, value-based, or competition-based? How did you come to your determination?
• Analyze the relationship between the company's price strategies for the product and the company's economic success.
• Describe potential management challenges related to implementing the company's price strategies.

Additional Requirements

• Written communication: Written communication is free of errors that detract from the overall message.
• APA formatting: Resources and citations are formatted according to current APA style and formatting.
• Font and font size: Times New Roman, 12 point.

Each criteria has to have its own section with a heading that reflects that and has to explain what is listed in description
Place and Price Analysis Scoring