MKT301 Price

SLP Assignment

By now you should have a pretty good idea about the major information sources available on the company you have chosen for your SLPs (Keurig Coffee Maker). Unfortunately, few if any companies will directly admit what pricing strategy they use. Most will say “of course we are charging you the lowest possible price”. But find out what you can about your company’s pricing strategy and also do some research on what some of your company’s competitors charge for the same products.

When you have finished researching
about your company’s prices, answer the following questions:

1. How does your company’s prices compare to competitors
   who sell the same or similar products? Overall, do your company’s prices
   seem high or low?
2. Do you think your company is basing their pricing
   mostly on cost (such as a cost-plus approach) or are other factors at
   play? Consider the concepts of prestige pricing mentioned in Forsyth
   (2007) or value-based pricing mentioned in the Pearson tutorial.
3. Discuss at least three other pricing strategies from
   the background materials and explain whether or not you think your company
   is using these strategies. Explain your reasoning, and remember to cite
   the sources where you read about the pricing strategies from in your
   answer.

SLP Assignment Expectations

• Answer the assignment questions directly.
• Stay focused on the precise assignment questions, and
  don’t go off on tangents or devote a lot of space to summarizing general
  background materials.
• Make sure to use reliable and credible sources as your
  references. Articles published in established newspapers or business
  journals/magazines are preferred. If you find articles on the internet,
  make sure it is from a credible source.
• Reference your sources of information with both a
  bibliography and in-text citations. See the Student Guide to
  Writing a High-Quality Academic Paper,
  including pages 13-14 on in-text citations. Another resource is the
  “Writing Style Guide”, which is found under “My Resources” on the TLC
  portal.

As with Modules 1-3, start off by
reviewing the Pearson tutorial:

Pricing. (2014). Pearson Learning Solutions. New York, NY.

The following reading is relatively
simple and reinforces the discussion of some of the key pricing strategies
discussed in the Pearson tutorial such as skim, penetration, and cost-plus
pricing and also covers some additional pricing strategies.

Richardson, N. & Gosnay, R.
(2011). Chapter 7: You paid how much? Develop Your Marketing Skills-
Creating Success Series. Kogan Page Ltd., London, GBR.

Now read up on pricing strategy in
more detail with the following two readings:

BPP Learning Media.
(2013). Chapter 10: Pricing. Marketing Principles: Course Book.
London: BPP Learning Media. [EBSCO eBook Collection]

Forsyth, P. (2007). Chapter 4:
Pricing policy and tactics. Demystifying Marketing: A Guide to the
Fundamentals for Engineers. London: IET. [EBSCO eBook Collection]

Optional Reading

Richardson, N. & Gosnay, R.
(2010). Chapter 7: You paid how much? Creating Success: Develop Your
Marketing Skills. Kogan Page Ltd., London, GBR. [Ebrary]

Chartered Institute of Management
Accountants (2013). Chapter 6: Pricing decisions and pricing strategies. Performance
Management. London: BPP Learning Media. [eBook Business Collection]

“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”

The post MKT301 Price appeared first on Nursing Experts Help.