Description
PLEASE READ THE REQUIREMENTS CAREFULLY THIS IS A VERY IMPORTANT PAPER AND IT CANNOT BE RE-DO AGAIN. IF YOU CANNOT DO IT DO NOT WASTE THE TIME AND MONEY BECAUSE I will take my money back. I DID FINISH SECTIONS 2 PAPER AND I DID RECEIVED A GOOD GRADE SO NOW SECTIONS 3 MUST BE DONE AND IM GOING TO UPLOAD SECTION TWO PAPER TO LOOK AT IT
Assignment 2: LASA 1: Product & Price
Using the Waters Bottling Company in Module 1, continue to build the Marketing Plan Sections for the product you have selected/ invented/ created. Complete the following in MS Word: Be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis.
This assignment represents Section 3 of the Marketing Plan. Use the guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3– Product & Price (Module 3).
Section 3 – Product & Price (Module 3 LASA 1)
- The Product
- Product Levels: Core, Actual, & Augmented (Packaging)
- Product Life Cycle
- BCG Model
- Services Marketing
- Price Determination & Pricing Strategies
- Supply & Demand
- Competition
- Objectives and Strategies
You will create a complete Marketing Plan by the end of the course. You will write the third section of the Marketing Plan for this assignment. Use the Marketing Plan guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3 – The Product & Pricing (Module 3).
Relate all responses using the WBC scenario and the product you have selected to market in Module 1.
Create a 4- to 6-page Word document for your Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.
| Assignment 2 Grading Criteria | Maximum Points |
| Determine the features/ benefits of the selected product. Include the Core, Actual, and Augmented product characteristics in your analysis. | 20 |
| Identify the stages of the product's life cycle and what will take place for your selected product in each stage. | 40 |
| Discuss the BCG Model for your product.. | 20 |
| Examine the Services Marketing aspects of this product. | 10 |
| Discuss the elements for determining the price. | 20 |
| Compare the various Pricing Strategies for this product. | 20 |
| Explain the Supply & Demand aspects as they relate to the pricing strategy. | 20 |
| Analyze competitive pricing for similar products. | 20 |
| Discuss pricing as it relates to company objectives and strategies. | 10 |
| Writing components: Demonstrated understanding of readings, interpreting concepts, making connections, and distinguishing between fact and opinion. Presented a structured report free of spelling and grammatical errors, and applied current writing standards for editorial style, expression of ideas, and format of text, citations, and references. | 20 |
| Total: | 200 |
Explanation & Answer
Attached.
Running head: WBC PRODUCT AND PRICE
Product & Price
Student’s Name
Institution Affiliation
1
WBC PRODUCT AND PRICE
2
Section 3 – Product & Price (Module 3 LASA 1)
•
The Product
The Water Bottling Company is venturing into the market for the first time and will,
therefore, be forced to produce a superior brand as compared to other bottled water. The main
aim is to have dominion over the market and at the same time satisfy the needs of their target
consumers. The product should also be affordable to the ordinary folks to attract more customers
regardless of their socioeconomic classes. Additionally, a variety of products should also be
available to cater to the needs, tastes, and preferences of all customers.
o
Product Levels: Core, Actual, & Augmented (Packaging)
Core Product
This denotes benefits related with customer satisfaction (Baker & Hart, 2008). In the
quest to satisfy the needs of the consumers, WBC will have to produce high quality bottled water
with competitive prices that suit the budgetary capability of all consumers. The bottled water
should also be granite pure and crystal clear to entice new customers. The decision to purchase
bottled water will be dependent on whether the benefits associated with the actual product can
satisfy their needs.
Actual Product
The actual product is physically bound and is very closely linked to the benefits of the
core product. WBC’s bottled water should, therefore, be eye-catching and entice to the
customers. The issue of packaging and general external appearance is very crucial at this stage.
The tangible aspects of the product, color, and shape of the container are also considered
WBC PRODUCT AND PRICE
3
(Hansen, Mowen & Guan, 2007). WBC should also consider using recyclable containers to
protect and conserve the environment.
Augmented Product
This narrows to offers and other addit...
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