Module 5 – SLP

THE MARKETING MIX: PRICE

Introduction

The questions for the SLP05 part of your marketing strategy direct you to consider pricing activities.

Excluding your title page, and your revised SLP01, SLP02, SLP03 and SLP04 sections, your analysis of the new sections of the marketing strategy for Module05 paper should be not more than three pages long.

In other words, SLP05 should begin with a revision of what you prepared for SLP01, SLP02, SLP03, and SLP04 (sections 1-24) with those revised pages placed before you answer the following sections.

The New Section of the marketing strategy for SLP05

For your service, taking account of the marketing activities previously described and allowing for your time to provide the service and any ancillary costs, assess the OVERALL COSTS of your business which you would take into account in setting prices.

PRICE SETTING: How will you set your price(s)?

Will you use TEMPORARY PRICE PROMOTIONS?

PRICE DISCRIMINATION: Will you vary your prices by segment? If so for whom and what will they be?

What will your expected PROFITS be? Show calculations for your expected profits over a reasonable time period. Refer to previous sections where you have stated performance goals.

Make sure you use section headings for each of the sections. In addressing the sections theCAPITALIZED BOLD words in the sections as headings and the non-capitalized bold words as sub-headings.

Write in a succinct, organized, and professional way. DO NOT USE ESSAY FORMAT.

Please complete the sections above, and any modification to prior sections (ensuring that the grader can easily recognize any changes) and submit the completed strategy for your business by the end of this module.

Reminder

The MOD01 Background Info section contains “Notes for the SLP” which gives guidance for ALL the sections of the entire SLP.

SLP Assignment Expectations

It is expected that you will explain the alternatives you considered and why you decided to make the recommendations you do. Also that you will use information from the background readings as well as any good quality sources you can find to deepen your understanding of the project and that you will cite all sources and provide a reference list at the end of the paper.

The following will be assessed in particular:

• Your demonstrated understanding of the concepts and frameworks used to conduct analysis for the project. Generally formal definitions are not required as understanding can usually b e demonstrated by the way you apply or interpret the concepts.
• Your ability to conduct marketing analysis appropriate to the project. The sections above require a combination of description, (e.g. what will be done) and analysis (explaining why it should be done that way). Graders will place more weight on analysis than description alone.

The criteria used for assessment will be those explained on the MOD01 Home page, namely:

• Focus.
• Breadth.
• Depth.
• Critical thinking, including selection and application of relevant frameworks.
• Effective and appropriate communication skills.