price strategy decisions • promotion decision matrix • promotion strategy summary • matrices W r i t i n g

price strategy decisions • promotion decision matrix • promotion strategy summary • matrices W r i t i n g

TEAM WRITTEN PAPER – PRICE AND PROMOTION STRATEGY. (LO1,2, 4)

Context: “Price” and “Promotion” decisions are part of the 4P’s of the marketing mix. To form a cohesive marketing strategy, we need to define Price and Promotion strategies to ensure they align with the customer profile and they help achieve the overall goals of the marketing strategy.

Step 1 – Same Team/ Same Problem

Working with the same team and problem statement used in prior weeks, teams will build on the Product and Place strategies established last week and create Price and Promotion strategies to complete the marketing mix that will effectively reach the customer group you intend to serve.

Step 2 – Define the Price Strategy

Collaborate with the team to define the specific objectives the Price Strategy will achieve for the business, customers, and society. Prepare a paper that summarizes the team’s decisions on:

  • Price objective(s) and measurement(s) that you will use to meet the stated goals of your marketing strategy and provide value for the company
  • The primary price setting tactic or method you will use for this marketing strategy
  • Rationale for why the price strategy balances company need and customer perception of value
  • Explanation of how or why society value is considered or addressed in your chosen Price strategy

You may include matrices, tables, or reference materials that support your analysis and decisions made for making the Price Strategy decisions.

Step 3 – Define the Promotion Strategy

Using the example of the Decision Matrix for Promotion Strategy in the course material, collaborate with your team to identify and assess different promotion methods to be used for your marketing strategy. Your team will establish your list of different Promotion methods that should be placed in the first vertical column of the matrix. You may use the promotion criteria shown in the course example or modify the list to help you analyze which promotion method is a good fit for your project.

After completing the Promotion Decision matrix, develop a Promotion strategy paper that includes:

  • Completed Promotion Matrix
  • Explain the rating system your team used to evaluate different Promotion methods
  • Provide an explanation for the top 3 promotion methods where significant resources will be used to support the marketing strategy
  • Provide an explanation of how each of the top 3 promotion strategies will deliver measurable results that align with the goals (established in Week 5) of this marketing strategy
  • Describe how the promotion strategy will create value for the customer, the company, and, if relevant, value for society.

You may include tables or reference materials that support your analysis and decisions made for making the Price Strategy decisions.

Step 4 – Compile and Submit

Compile information from Step 2 and Step 3 in a professional, business document that includes:

• Price strategy summary
• Matrices, tables, or reference materials that support your Price strategy decisions
• Promotion Decision Matrix
• Promotion strategy summary
• Matrices, tables, or reference materials that support your Promotion strategy decisions

Your final paper should be less than 7 pages in length, excluding matrices and references.

Submit to the relevant assignment folder as directed by Sunday. The same grade will be provided to all team members.

ASSESSMENT

Grade

Criteria

90-100%
(A- to A)
  • Paper includes comprehensive analysis of Price objectives and definition of strategy and methods that achieve marketing goals.
  • Paper includes comprehensive analysis of Promotion strategies that are aligned with customer profile and marketing strategy goals
  • Paper includes supported and valid rationale for Price and Promotion strategies in creating value for business, customer, and society.
  • Paper length meets directions and includes relevant references to reading material.
  • Paper complies with Regis writing standards for grammar and spelling and appropriate citations.

80-89%
(B- to –B+)
  • Paper includes good analysis of Price objectives and definition of strategy and methods that achieve marketing goals.
  • Paper includes good analysis of Promotion strategies that are aligned with customer profile and marketing strategy goals
  • Paper includes valid rationale for Price and Promotion strategies in creating value for business, customer, and society.
  • Paper length meets directions and includes references to reading material.
  • Paper complies with Regis writing standards for grammar and spelling and appropriate citations.

70-79%
(C- to C+)
  • Paper includes basic analysis of Price strategies and objectives aligned with marketing goals.
  • Paper includes basic analysis or limited rationale of how Promotion strategies are aligned with customer profile. Result measures or connection to marketing goals may be incomplete or missing.
  • Paper includes basic explanation for how Price and Promotion strategies create value for business, customer, and society.
  • Paper length may not fully meet directions or includes references to readings.
  • Paper may not fully comply with Regis writing standards for grammar and spelling and appropriate citations.

60 – 69%
(D- to D+)
  • Paper includes minimal analysis of Price strategies or marketing strategy goals.
  • Paper includes minimal analysis or limited rationale of how Promotion strategies are aligned with customer profile. Result measures or relevance to marketing strategy goals may be incomplete or missing.
  • Paper includes minimal analysis of how Price and Promotion strategies create value for business, customer, and society.
  • Paper length may not fully meet directions or includes references to readings
  • Paper may not fully comply with Regis writing standards for grammar and spelling and appropriate citations.

0-59%
(F)

Assignment did not contain complete or valid information or was not submitted on time

Alright guys, we’re taking the part of the CMO, who says “resources and promotion efforts should be extended to brands or branding if the marketing strategy is focused on problem solving for customers. The CMO says that brand promotion is not needed to create sustained value.” Some things to note:

  • Gotta have required reading sources and other sources to back up our statements
  • Each post cannot be more than 300 words
  • Opening Statement posts are due by NOON (MST) Thursday, December 3
  • Rebuttal Argument posts are due by NOON, Friday December 4
  • Closing Argument posts are due by NOON, Saturday December 5