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.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
- Competency 3: Examine the relationship of basic marketing strategies to business success.
- Analyze relationships between a company’s place strategies for a product and the company’s economic success.
- Analyze relationships between a company’s price strategies for a product and the company’s economic success.
- Competency 4: Apply effective marketing planning and implementation.
- Analyze a product’s distribution channels.
- Analyze where a product is being sold.
- Analyze characteristics of a product’s pricing system.
- Competency 6: Evaluate management implications of marketing and sales plans.
- Describe potential management challenges related to recommended changes to a company’s place strategies.
- Describe potential management challenges related to recommended changes to a company’s price strategies.
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