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Week 6: Draft 3 |
Pricing Strategy |
Recommend value-driven pricing for your company’s product. · Estimate the BEP for your company’s product. What pricing implications does your BEP present for achieving a short- or long-term ROI? · Is your product’s price relatively elastic or inelastic, and what implications does price elasticity present for your product? For example, how might its price elasticity affect sales volumes, inventory costs, price adjustments, and so forth? · What is the best pricing strategy for your product and why? |
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Distribution Strategy |
Recommend a distribution plan for the new product. · Considering your company’s product from a strategic perspective, would you recommend creating a wholesale distribution channel, focusing on retail distribution, or using a multichannel approach that incorporates both wholesale and retail distribution? · What types of retailers or wholesalers (or mix of both) would you recommend using? · Given your recommended distribution channel strategy, what decisions about the retail or wholesale marketing mix must be made to form a viable retailer or wholesaler marketing strategy? |
Strategic Marketing Brief
The Course Project is a strategic marketing brief and summary presentation for a new product. Similar to a complete marketing plan, the brief includes topics such as the marketing mix and promotional mix. In contrast to a marketing plan, the strategic brief communicates these and other topics to a different audience. It addresses senior executives and investors rather than managers and frontline workers. As such, your brief will focus on
why your marketing organization is doing what it is doing, rather than the details of
what it is doing and
how.
Although you will discuss tactical activities such as advertising and breakeven point, strive to communicate a high-level strategic perspective with your writing. To help gain that perspective in the context of marketing, be sure to watch the Week 2: PlayPosit, which discusses strategic leadership using marketing examples that have turned into goods, services, and ideas that are still in market today. As you watch the PlayPosit, focus on the question posed: Why does a product exist?
Begin by selecting a product and company to use as an example throughout the brief. By using one product and company, the research, organization, and presentation of your recommendations will be easier. Your product and company can be imaginary, or a business you would be interested in starting, or an existing product and company that are in market today. The product can be B2C or B2B, and the company can be any organizational structure. The product and company are not important, because they will merely serve as examples. That is to say, you’ll include the
what and the
how, but you’ll focus your writing about the
why.
