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Participants:Wendy Lewisandevfliyseozona
evfliyseozona
2017-04-18 10:24
I will need this paper by Saturday so that I can review to turn it
in on sunday How much would you charge me?
MRKT 310
Principles of Marketing
Week 6
Writing Assignment
Part 1 –
Creating Offerings
Learning Outcomes
1.
Offering.
Student can describe an offering based on features, benefits,
price, and costs of ownership
2.
Type of consumer
offerings. Student can suggest
marketing strategy implications based on the type of consumer offering under
examination.
3.
Product line extensions or new
product development. Student
can suggest possible product line extensions or related product or service
offerings based on the student’s chosen product or service offering.
4.
Product lifecycle. Student
can suggest potential marketing strategies based on the product or service’s
lifecycle stage.
Directions
·
Your job in this Writing
Assignment is to develop marketing mix strategies to ensure a value offering for
the target market you identified in the previous assignment. We begin with the
value offering this week.
·
We don’t expect you to develop
strategies based on a total knowledge of the product or service since you are
not, or most likely not, employed by your product or service’s company.
We will be looking to see if you can apply the marketing concepts to the real
world situation.
·
Again, do not fall into the
trap of reporting on the product or service. This is obvious because your
assignment will look like a rewrite of the company’s website. Don’t be
afraid to make strategy recommendations based on what you have discovered about
the product or service, and how you think it can move forward. Be
creative, be reasoned, take risks.
·
Remember your product’s target
market(s) from the previous paper. Always keep them in mind when making
your recommendations. You now work for the company, and your goal it to
help them grow sales.
·
Prepare your assignment
beginning with a title page including your name, your product or service, and
the name of your target market. Then answer each of the following four
questions in order and number the beginning of each question. There is no
need to repeat the question text.
1.
Offering.
Describe your product or service offering as it is currently in terms of
features and benefits, price and the total cost of ownership as discussed in
the week’s readings. Is it more product dominant or service dominant?
What are the tangible and intangible aspects?
2.
Type of consumer offering.
Based on the four categories of type of offerings discussed in course
content, describe the category in which your product or service offering
belongs. Based on your new target market, would that category of the
offering change and if so, how? How would it change the marketing
strategy?
3.
Product line extensions or new
product development.
Should the current product or service be modified to more fully meet the needs
of your new target market? Would the changes constitute a new product
line, a product line extension or a new product? If no product changes
are needed, how does the same product or service meet the need of your target
market differently than current customers? Would the product line
extension or new product allow the offering to occupy uncontested space in the
perceptual map for the target market as covered in thr previous paper?
4.
Product lifecycle.
In which stage of the product lifecycle is your product or service offering
now? Would the changes described in number 3 above change the lifecycle stage
and if so how? What would this mean to the lifecycle marketing strategy?
Part 2 –
Using Marketing Channels and Price to Create Value for Customers
Learning Outcomes
1.
Marketing Channels.
Student can outline a multi-channel distribution system
2.
Marketing channel
strategy. Student can recommend a marketing
channel strategy for a product or service offering that assures the correct
amount of intensity.
3.
Value chain.
Student can discuss how each channel in the product or service offering adds
value to the customer.
4.
Pricing strategy.
Student can analyze a current pricing strategy and make recommendations for
modifications.
Directions
·
This part of the assignment
assesses your ability to relate marketing mix concepts of distribution and
pricing to your product or service offering. You will also have a chance
to recommend new distribution and pricing strategies based on your new target
market to meet their needs.
·
Answer each of the following
four questions, in order, numbering each of your responses. There is no
need to repeat the question.
1.
1.
Marketing channels.To the
best of your ability, outline the marketing channels of your product or service
offering as they currently exist. Refer to Figure 6.2 for some
ideas. Most product and service offerings will have more than one
channel, so your system should include at least two; for example (1) a
direct channel for internet sales: manufacturer –> customer; and
(2) an indirect channel such as manufacturer –> distributor –>
wholesaler –> retailer –> customer. If your product or service only has
only a direct channel, explain why. Would this channel strategy change as
a result of your new target market? Why or why not?
2.
Marketing channel strategy.Why type
of distribution intensity strategy does your product or service currently
use? How do you know this? Would this distribution intensity
strategy change for your new target market? Why or why not?
3.
Value chain.
Referring back to your marketing channel diagram, discuss what each member of
the value chain does to bring value to the consumer.
4.
Pricing strategy.
Referring to the various pricing strategies outlined in the week’s readings,
which one does your product or service currently use? Would you recommend
any changes for your new target market? If so, how would you change it
and why?
