TOPIC: Benchmark – Marketing Plan Analysis and Presentation: Part 2 – Product or Service and Price
The purpose of this assignment is to conduct research related to how a specific company utilizes information related to consumer behavior, product mix or service processes, and pricing to create marketing plans that will meet business needs including their specified marketing objectives.
Review the following topic resources.
Topic 3: “Consumer Purchasing Decisions”
Topic 4: “What Is a Product?” “What Is a Service,” and “Service Delivery”
Topic 5: “Pricing and Breakeven Analysis”
Continuing in the role of a marketing professional who has been tasked with completing a marketing plan for a client, refer back to the research you completed in the Topic 2 Part 1: Research as a starting point for the assignment. Conduct additional research related to consumer behavior, the company’s specific product or service, and the company pricing strategy, and use it to complete the “Marketing Plan Analysis and Presentation: Part 2 – Research Template.”
Create a 15-20 slide PowerPoint presentation that summarizes your marketing plan analysis based upon the research you have conducted. Slides should address each of the key areas listed below and should include speaker notes that explain how the company could have used what it learned about consumer behavior, product or service, and pricing to help it develop a marketing plan in order to meet the company marketing objectives and business needs. Include a slide at the end of the presentation to cite your research sources.
1. Company name, vision, and mission.
2. Company marketing objectives.
1. Describe the customer segments and target markets.
2. Describe characteristics of the target markets that will affect product/service and pricing decisions.
3. Describe how the company differentiates its product and positions its brand.
4. Describe a consumer buying behavior model for this company and brand.
Product or Service:
1. Describe the product mix.
2. Describe the product lines.
3. Describe the service processes.
4. Discuss physical evidence of service, service scape, and ambiance.
5. Discuss the roles of company employees in service delivery.
1. Define the company’s pricing objectives and discuss whether the objectives are profit- or sales-oriented.
2. Provide example of current company pricing strategies.
3. Describe pricing tactics (discounts, etc.) that are used to drive short-term demand.
Refer to the resource, “Creating Effective PowerPoint Presentations,” located in the Student Success Center, for additional guidance on completing this assignment in the appropriate style.
Submit the “Marketing Plan Analysis and Presentation: Part 2 – Research Template” and PowerPoint presentation with speaker notes.
Review “Developing Target Markets,” from the GCU Academics – Business, located on the YouTube webs https://www.youtube.com/playlist?list=PLg_v7K-G8mejFVh4ZkG_6-L4F0ktnD-jLite.
Read “How to Price a Product: A Scientific 3-Step Guide (With Calculator),” by Peters, located on the Sumo website (2019). https://sumo.com/stories/how-to-price-a-product
Read “How to Price Your Products,” by Wasserman, from Inc. https://www.inc.com/guides/price-your-products.html
View “Pricing and Breakeven Analysis,” from the GCU Academics – Business, located on the YouTube website. https://www.youtube.com/playlist?list=PLg_v7K-G8meg7R4yWPQvBQd-51wioq5Bq
Read “The Ultimate Guide to Pricing Strategies,” by Decker, located on the Hubspot website (2019). https://blog.hubspot.com/sales/pricing-strategy
Read “What Is Break Even Analysis?” located on the Corporate Finance Institute website. https://corporatefinanceinstitute.com/resources/accounting/break-even-analysis/