Module 4 – CasePRICING & MARKETING PLAN IMPLEMENTATIONMargins & Sales VolumeDifferent industries have varied benchmarks for margins. For example in restaurants alcohol margins are usually much higher than food margins. In other industries, margins are affected by seasonal demand.Industry Research and ApplicationResearch your product/service’s industry with regard to mark-ups and contribution margins. Describe the industryDiscuss the margins and markups on goods or servicesDiscuss other economic factors that affect the mark-upsWhat marketing techniques can companies use to support the pricing schemes that support their margins?Use research from quality graduate-level resources and at least two articles from Trident Library’s full-text databases like (Academic Search Complete, Business Source Complete and/or Proquest Central). Stay away from consultant sites on the internet.Do not use any quotations. Since you are engaging in research, be sure to cite and reference the sources in APA format. The paper should be written in third person; this means words like “I”, “we”, and “you” are not appropriate. For more information see Differences Between First and Third Person.Use the attached APA-formatted template (MKT501 Case4) to create your submission.ASSIGNMENT EXPECTATIONSYour submission will include:Trident University International’s cover pageA 4- to 5-page paper with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)The reference list page in APA formatModule 4 – SLPDISTRIBUTION & MARKETING PLANSESSION LONG PROJECTYou 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 MKT501. Since you have a series of different references lists for each assignment, you will need to combine them for this submission.To make the work flow better, add a sentence at the end of each section or the beginning of the next to connect them.SLP4: Strategic Marketing PlanProduct OverviewProduct/Service Overview (used in your discussions) Customer ProfilingModule 1: Week 1 Discussion Post. MessagingModule 1: Week 2 Discussion Post. Customer Demographics and Psychographics Module 1: Case. Customer Relationship Management Module 1: Case. Target Audience and Competition Module 1: SLP (Application to Product/Service). Societal MarketingModule 2: Week 1 Discussion Post. Creative MessageModule 2: Week 2 Discussion Post. Segmentation Application Module 2: Case. Gap Analysis, Benchmarking and Competitive AdvantageModule 2: Case. Competition, Segmentation, Positioning, Lifetime ValueModule 2: SLP. Must be reformatted and double-spaced. DifferentiationModule 3: Week 1 Discussion Post. DistributionModule 3: Week 2 Discussion Post. IMC: Integrated Marketing CommunicationsModule 3: Case (Application). Competition and Boosting online PresenceModule 3: SLP. PricingModule 4: Week 1 Discussion Post. Perceived ValueModule 4: Week 2 Discussion Post. Margins and Sales VolumeModule 4: Case.Use the attached APA-formatted template (MKT501 SLP4) to create your submission.SLP ASSIGNMENT EXPECTATIONSYour submission will include:Trident University International’s cover pageA paper with APA citations (2- to 3-sentence introduction, body, 2- to 3-sentence conclusion)The reference list page in APA formatThe entire paper will vary in length based on what was previously submitted.Trident Symposium International’s (TSI) focus for this week is pricing strategy: a component of the marketing mix. Consider the Target Market, Competition, Core Strategy, and Communications & Promotions when making a decision on how pricing will be determined.Free Offers and PricingWEEK 1 DISCUSSION POSTProvide a brief introduction of the company with which you are working.Discuss what pricing objectives you would consider for your product/service. Identify the pricing objective and strategy you will ultimately choose and explain why. This post should be 3 paragraphs in length (300 words). Since you are engaging in research, be sure to cite and reference the source(s) in APA format.WEEK 2 INTERACTIVE RESPONSES TO CLASSMATES1st Interactive Response:Select one student’s pricing decision post. Is it supported by solid rationale? Would you make a different decision?2nd Interactive Response:Select another student’s pricing decision post. Is it supported by solid rationale? Would you make a different decision?Each reply should be one paragraph in length (or about 75 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.Perceived ValueNot all benefits or costs can be quantified in dollars. A product’s aesthetic appeal, extra technical support, and reputation are harder to quantify in economic terms, yet they can have a profound impact on customer perceptions of value.WEEK 2 DISCUSSION POSTProvide a brief introduction of the company with which you are working.Discuss ways you can improve perceived customer value.Analyze how psychological motives help shape emotional benefits and customer perceptions of value.Analyze how the personality of an endorser shapes the emotional benefits of the product.This post should be 200-300 words in length. 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 2 INTERACTIVE RESPONSES TO CLASSMATES1st Interactive Response:Select one student’s post on perceived customer value and provide a real-world researched example to back-up one scenario presented in the discussion.2nd Interactive Response:Select another student’s post on endorser effects and share an ad campaign that works for you. Explore the reasons for the positive connection.Each reply should be one paragraph in length (or about 75 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.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 – BackgroundPRICING & MARKETING PLAN IMPLEMENTATIONDiscussionCore Concepts of Marketing- Chapter 9 Pricing the Product (PDF)“5 Marketing KPIs You Cannot Measure but Should Care About” – Nicole Rodrigueshttp://www.marketingjournal.org/5-marketing-kpis-you-cannot-measure-but-should-care-about-nicole-rodrigues/CaseAlternative Approaches to Determining Price (read all 5 links on the page)http://www.opentextbooks.org.hk/ditatopic/40310Low-Margin Business vs. High-Marginhttp://smallbusiness.chron.com/lowmargin-business-vs-highmargin-23272.htmlKnow Your Sales Marginshttps://www.entrepreneur.com/article/206390Measuring the Impact of Economic Factors on Consumer Satisfaction and Pricing Perceptionshttps://www.decisionanalyst.com/whitepapers/pricing/SLPTransitional Deviceshttps://owl.english.purdue.edu/owl/resource/574/02/Guide to Transition Words and Sentence Sampleshttp://www.gallaudet.edu/tutorial-and-instructional-programs/english-center/the-process-and-type-of-writing-/guide-to-transition-words-and-sentence-samplesEnd of Session Self-ReflectionClass 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 management 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 Classmates1st 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.
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