Unit 4 Part 1&2 - Identify a product for which you

Unit IV Part I

Identify a product for which you think that you paid either too little or too much. Identify the pricing strategy you think the company used (based on the Required Unit Resources), and explain why you think they made their decision. Do you agree or disagree with their choice? Why?

200 words

PART II

Instructions

Marketing Plan: Part I

In the next several units, you will be creating a marketing plan for a company. Submit a draft of your marketing plan to your instructor for review and feedback. This draft only needs to include a discussion of the product or service that you select and the pricing strategy that you anticipate to use. The details to include are provided below.

Product

In this section, discuss your proposed product strategy.

1. Identify the company for which you will be creating a marketing plan, and describe the product or service. If you choose a large global company, you must create a new product; however, this new product may be an upgrade of an existing product. Also, make certain that you select a company that you have not used for other assignments in the course.

2. Explain how your product or service will be classified according to use, durability, and involvement.

3. Identify where your product or service falls on the product life cycle.

Pricing

4. Identify pricing goal(s).

5. Discuss key determinants of price.

6. Compare and contrast different pricing methods to choose a pricing strategy

7. Explain how you might fine-tune the base price with price-adjustment strategies.

Your summary must be at least two pages in length and be double-spaced. APA formatting is not necessary.