Trident MKt301 module 4 (case+ slp +discussions) 2018

Module 4 - Background

PRICING; RECENT TRENDS IN MARKETING; AND SOCIAL, ETHICAL, AND LEGAL ISSUES

Required Reading

Introducing Marketing Textbook:

Creative Commons License 3.0: https://creativecommons.org/licenses/by/3.0/legalcode
John Burnett
Introducing Marketing. Retrieved from https://open.umn.edu/opentextbooks/BookDetail.aspx?bookId=388
Pub Date: 2011
ISBN 13: 
Publisher: BCcampus

Read the following chapter:

9. Pricing the product

Readings

Millennials Are Effecting Change With Social Responsibility
https://www.forbes.com/sites/wesgay/2017/08/11/millennials-social-responsibility

8 Corporate Social Responsibility (CSR) Trends To Look For In 2018
https://www.forbes.com/sites/susanmcpherson/2018/01/12/8-corporate-social-responsibility-csr-trends-to-look-for-in-2018

Short Video Lectures

The Marketing Mix – Pricing
https://www.youtube.com/watch?v=2tzd7XivFqk

How Retailers Can Improve Shoppers' Price Perception
https://www.youtube.com/watch?v=l7OWuo5vGaw

Price Psychology and Online Marketing
https://www.youtube.com/watch?v=c_yOcEXqnZs

Optional Reading

Pricing Strategy An Introduction
https://www.youtube.com/watch?v=mmm0ccYPliU

Product Pricing strategies in Marketing - Types of Pricing in Marketing
https://www.youtube.com/watch?v=vpRFgi2HqQ0

HBR Readings in Social Responsibility
https://hbr.org/topic/social-responsibility

National Retail Federation Readings in Social Responsibility
https://nrf.com/news/social-responsibility

 

 

Discussion 4: Show Me the Money. Let's Talk Pricing.

 

Previous Next 

Thus far we have developed a quality product and made it available to end users through an effective distribution system. Now it’s time to price the product.

Week 1 Discussion Post

Develop a pricing strategy for your chosen product/service.

• Discuss what factors will impact your pricing strategy.
• What pricing method would you use for your product/service and why?

These two questions require research using the textbook. No other resources are required. Citations and a reference list are required for this post.

This post should be 2 paragraphs in length (at least 100 words). Do not copy or quote. Since you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format.

Week 1 Interactive Responses to Classmates

1st Interactive Response:

• Select a post from a classmate. Do you agree with the factors identified? Why or why not?

2nd Interactive Response:

• Select another post from a classmate and suggest a price adjustment strategy that could be used for this product when sales growth slows down for this product/service in the future.

Each reply should be one paragraph in length (or about 50 words) and must be substantive in nature. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. You may use research in your responses but it is not required.

Week 2 Discussion Post

Corporate Social Responsibility has risen in popularity and stature in the last decade. Even small companies communicate ways that they give back to their communities.

• Explain what product/service you are working with (this paragraph can be reused during class).
• Share a viable social responsible project that can be applied to your business. Explain why it would be a good fit for the culture of your organization and the community you serve.

Not including the first paragraph describing your product, this post should be 1-2 paragraphs in length (at least 100 words). If you are engaging in research, be sure to cite in the body of the post and add a reference list in APA format.

Week 2 Interactive Responses To Classmates

1st Interactive Response:

• Select one student's post and critique the fit of the project to type of company.

2nd Interactive Response:

• Pick a second student's post and critique the underlying rationale of why the project was chosen for the company.

Each reply should be one paragraph in length (or about 50 words) and must be substantive in nature. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. No research is required; this is a reflection assignment.

In your own words, respond to the discussion and comments of classmates. Grades will be based on effectual, concise and interactive feedback. The excessive use of quotes will directly impact performance since this indicates a lack of comprehension and shows that you may not have mastered the concepts.

 

 

Module 4 - Case

PRICING; RECENT TRENDS IN MARKETING; AND SOCIAL, ETHICAL, AND LEGAL ISSUES

Case Assignment

Presenting the Marketing Plan

Presenting to financers, your management team, client, or a work group is a skill that professionals need to master. Multimedia presentations are the norm today.

You’ll take on the role of champion for the product/service you have been applying throughout class. Let your upper management audience know why it should back the project with company resources. Be persuasive and professional.

Presentation Script

• Create a script to accompany the presentation. It should be persuasive and targeted to the group chosen for this presentation. It can be written in a conversational style, but since you are engaging in research be sure to cite in the script and add a reference list in APA format.

PowerPoint Presentation

• Create a professional PowerPoint. You will be assessed on the design of the presentation (including colors, backgrounds, professionalism, font, graphics). Optional content: Sound, videos, animation.
• Wording on slides should be bullet points or short overviews of what you will discuss when each slide is shown. You want your audience to pay attention to you and not read along on the slide.

This part of the Case should be at least 15 slides.

Assignment Expectations

Please submit your assignment. 

Two files will need to be uploaded.

1. SCRIPT: A Word document using the attached template (MKT301 Case4).

2. POWERPOINT Presentation

 

Module 4 - SLP

PRICING; RECENT TRENDS IN MARKETING; AND SOCIAL, ETHICAL, AND LEGAL ISSUES

You will create a final a marketing project using assignments you created during the class. It is not necessary to create new content other than an introduction and conclusion for the project; but you are required to address comments provided by your faculty member and make updates accordingly.

Using the template provided, complete the comprehensive SLP for MKT301. Since you have a series of different reference lists for each assignment, you’ll need to combine them for this submission.

SLP4: The Marketing Plan

• Product/Service Overview (used in your discussions)

Module 1 Case:

Industry Research

• Using articles predominately from the Trident Online Library’s full-text databases (such as Academic Search Complete, Business Source Complete and/or ProQuest Central, conduct secondary research on the industry in which your chosen product/service operates.
• From your research and what you have learned in the readings, identify three (3) marketing environmental factors that will impact this type of product/service. Describe and explain the chosen marketing factors and discuss general market implications.

Module 1 SLP:

Real-World Application

• Analyze why & how each of the three marketing factors will impact the chosen product/service.
• Explore strategies to overcome the threats and/or capitalize on opportunities to product life cycle with regard to your target product/service. Be sure to consider branding.

Module 2 Discussion:

Week 1 Discussion Post

• Discuss the qualities that make this product/service new to the marketplace and the rationale for your decision to pursue the concept.

Week 2 Discussion Post

• Identify your target market. Provide a specific demographic profile and rationale for this decision. Consider the size of the market and its purchasing power.
• A source that may help you: The US Census Bureau's American Fact Finder. Research is required to back-up your selection and to provide statistics to show that it is a viable market.

Module 2 Case:

Getting Your Product into the Hands of Consumers

Channel Levels

• Select either direct or indirect distribution by writing about the pros and cons of both methods. (Research support is required.)

Needs of Target Market

• Analyze your target market's needs. Explain what you know about your target market and what they want from a channel of distribution. (Research support is required.)

Digital Commerce

• Is your product/service conducive to digital distribution? You may wish to research a competitive product or service to see if it has a strong digital presence. Or you can engage in general research about going digital. (Research support is required.)

Module 2 SLP:

Buyer Behavior Application

Apply the model of consumer behavior (Exhibit 11 on page 89 of your textbook) to the product/service you selected in Module 1. Explain how the model affect the purchase process as it relates to the product/service.

Providing a list of the steps or a graphic of the model is not adequate, you should explain how the process works in the real world using your own words supported by research.

Module 3 Case:

Communications Channel 1: Digital Marketing

• Why was it chosen? Explain how it is a good fit for your target market.
• Advantages/drawbacks (research required)
• Detail the media plan: What types of digital marketing will be used? Why?

Communications Channel 2

• Why was it chosen? Explain how it is a good fit for your target market.
• Advantages/drawbacks (research required)
• Detail the media plan: What aspects of the marketing communications channel will be used? Why?

Communications Channel 3

• Why was it chosen? Explain how it is a good fit for your target market.
• Advantages/drawbacks (research required)
• Detail the media plan: What aspects of the marketing communications channel will be used? Why?

Module 3 SLP:

Campaign Theme

• Describe a campaign theme that can be applied to your product or service. Provide rationale for the theme based on decisions made in earlier assignments.

Traditional Media Ads (based on the choices made in this week’s case)

Develop the “creative” for two of the following: print, TV, radio, direct mail, outdoor. Describe the following.

• Headline/Tag Line for ad. This must be original and written by you.
• At least one paragraph of copy to the used in ad. This must be original and written by you.
• Examples of visual or multimedia elements that you would like to see in the chosen ad. You do not have to create graphics; you can link to examples used by other companies.

Electronic Media (based on the choices made in this week’s case)

Develop the “creative” for one electronic media campaign. Describe the following:

• Headline/Tag Line for ad. This must be original and written by you.
• At least one paragraph of copy to the used in ad. This must be original and written by you.
• Examples of visual or multimedia elements that you would like to see in the chosen ad. You do not have to create graphics; you can link to examples used by other companies.

Module 4 Discussion:

Show Me the Money. Let’s Talk Pricing.

Week 1 Discussion Post

Develop a pricing strategy for your chosen product/service.

1. Discuss what factors will impact your pricing strategy.
2. What pricing method would you use for your product/service and why?

These two questions require research using the textbook. No other resources are required.

Week 2 Discussion Post

Corporate Social Responsibility has risen in popularity and stature in the last decade. Even small companies communicate ways that they give back to their communities

• Share a viable social responsible project that can be applied to your business. Explain why it would be a good fit for the culture of your organization and the community you serve.

Use the attached APA-formatted template (MKT301 SLP4) to create your submission.

SLP Assignment Expectations

Your submission will include:

• Trident University International’s cover page
• A paper with APA citations (2-3 sentence introduction, body, 2-3 sentence conclusion)
• The reference list page in APA format

The entire paper will vary in length based on what was previously submitted.

Grading Note:

At Trident University International, rubrics are used for grading. These rubrics specify the points available for each component of an assignment. Points are earned based on the level of the work submitted. The SLP rubric can be viewed under the “Assessments” menu at the top of the page.

 

 

Course Reflection

 

Previous Next 

Class is rapidly coming to an end. Reflect on what you are taking away from the class and what improvements you’ll make to the way you think about marketing personally and as a professional.

This post should be 2 paragraphs in length (at least 100 words). No research is required; this is a reflection assignment.

Interactive Responses To Classmates

1st Interactive Response:

• Select one student's post about class take-aways and compare to your attitude about the importance of the marketing discipline.

2nd Interactive Response:

• Pick a second student's post about improvements to be made and share your feelings.