Place and Price Analysis – Assignment #1 Solution

Continue your exploration of your chosen product by completing a product and price analysis.

Companies need to decide how will they distribute their products, which distribution channels they will use, and which pricing approaches and strategies they will apply in order to both make a profit and make the price attractive to the final consumer . . . you.

Competency 1: Examine the basic marketing models for a business or organization. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Place and Price Analysis

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• • Accurately identify where the product or service is sold.
  • Accurately define the pricing system along with its characteristics and impact on the marketing mix.
  • Address assessment purpose in a well-organized text, incorporating appropriate evidence and tone in grammatically sound sentences.
• Competency 2: Relate the importance of an integrated marketing program to the economic impact of a business.
  • Provide an evaluation of the pricing system and its impact on economic success.
• Competency 3: Examine the relationship of basic marketing strategies to business success.
  • Provide an evaluation of place strategies and its impact on business success.
• Competency 4: Apply effective marketing planning and implementation.
  • Accurately detail the chosen product’s distribution channels.

  Note: Assessments 1–3 in this course require you to complete a marketing analysis. Because they build on each other, it is recommended but not required that you complete them in sequence.

  OVERVIEW

  Continue with the second part of your marketing analysis and focus on the next of the 4 Ps—the price and place actions of your chosen company.

  PREPARATION

  Rather than picking a service-oriented company, pick one that makes or sells products. Use the same company for Assessments 1–3 in this course. Try to go beyond the typical consumer electronic offerings, such as Apple. If you are in doubt about your chosen company but if it will work for the project, please ask your faculty member.

  INSTRUCTIONS

  Create a place analysis in which you do the following: Place and Price Analysis

  • Accurately identify where the product or service is sold.
  • Accurately detail the chosen product’s distribution channels.
    • How are they getting their product to market?
    • Which distribution strategies are being used to effectively create a competitive advantage?
  • Provide an evaluation of place strategies and their effect on business success.
    • Describe how the distribution decisions affect the other Ps in the marketing mix.
    • What recommendations can you make in terms of distribution decisions that may improve business success?-Place and Price Analysis
  • Accurately define the pricing system along with its characteristics and effect on the marketing mix.
    • Which pricing strategy does the company use, and how does it compare to similar products in the product category?
  • Provide an evaluation of the pricing strategy in your analysis—how does it affect the other areas of the marketing mix? How does the chosen pricing strategy affect the economic success of the company?
    • Describe the effect of the pricing strategy on the overall success of the company.
    • Describe how pricing decisions affect the other Ps in the marketing mix.
  • Cite any resources you use.

  Note: Faculty may use the Writing Feedback Tool when grading this assessment. The Writing Feedback Tool is designed to provide you with guidance and resources to develop your writing based on five core skills. You will find writing feedback in the Scoring Guide for the assessment, once your work has been evaluated. Learn more about the Writing Feedback Tool on the course Tools and Resources page.

  ADDITIONAL REQUIREMENTS: Place and Price Analysis

  • Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional.
  • References: References and citations are formatted in a consistent style, with a preference for using APA Style and Formatting.
  • Number of resources: Use a minimum of three scholarly resources related to the content of the assessment.
  • Length of paper: Approximately 3–4 typed, double-spaced pages, in addition to the title and references pages.
  • Font and font size: Times New Roman, 12 point.

  Place and Price Analysis Scoring Guide

  CRITERIA	NON-PERFORMANCE	BASIC	PROFICIENT	DISTINGUISHED
  Provide an evaluation of the pricing system and its impact on economic success.	Does not provide a discussion of the product system and its impact on business success.	Provides a discussion of the product system and its impact on business success.	Provides an evaluation of the pricing system and its impact on economic success.	Provides an analysis of the pricing system and its impact on economic success.
  Provide an evaluation of place strategies and its impact on business success.	Does not provide a discussion of place strategies and its impact on economic success.	Provides a discussion of place strategies and its impact on economic success.	Provides an evaluation of place strategies and its impact on business success.	Provides an analysis of place strategies and its impact on economic success.
  Accurately define the pricing system along with its characteristics and impact on the marketing mix.	Does not discuss the pricing system along with its characteristics and impact on the marketing mix.	Discusses the pricing system along with its characteristics and impact on the marketing mix.	Accurately defines the pricing system along with its characteristics and impact on the marketing mix.	Accurately analyzes the pricing system along with its characteristics and impact on the marketing mix.
  Accurately detail the chosen product’s distribution channels.	Does not discuss the chosen product’s distribution channels.	Discusses the chosen product’s distribution channels.	Accurately details the chosen product’s distribution channels.	Accurately analyzes the chosen product’s distribution channels.
  Accurately identify where the product or service is sold.	Does not identify how an integrated marketing program contributes to a company’s economic success.	Identifies ways an integrated marketing program can contribute to a company’s economic success, but the significance for a specific company is unclear.	Assesses how an integrated marketing program contributes to a company’s economic success.	Assesses how an integrated marketing program contributes to a company’s economic success and identifies opportunities for improvements to the marketing program that could improve the company’s economic success.
  Address assessment purpose in a well-organized text, incorporating appropriate evidence and tone in grammatically sound sentences.	Does not respond to the assessment prompt and/or does not organize text appropriately, uses inappropriate tone, or does not include structurally sound sentences.	Addresses the assessment purpose with minimal issues related to evidence, tone, and sentence structure.	Addresses assessment purpose in a well-organized text, incorporating appropriate evidence and tone in grammatically sound sentences.	Presents a focused purpose through strong organizational skills. Presents evidence through strong paraphrasing/summarizing and appropriate tone and sentence structure.