Pricing Strategies and Marketing Budgeting

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Submit Milestone Three of your final project.

For additional details, please refer to the Milestone Three Guidelines and Rubric document.

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INT 640 Final Project Milestone Three Guidelines and Rubric Overview: For the final project in this course, you are tasked with launching a product and accompanying marketing campaign in the international market of your choice. You will select a specific international market in the world, excluding the United States, and a specific product, and then assess the marketing conditions in the international market in several important areas. You should select a country that you were al ways interested in that might be your “dream” country to work in one day. Prompt: Market segmentation is an important and integral part of marketing strategy. In Milestone Three, you will recognize or recommend the appropriate target market for your product/service in your selected international market. Develop a sound and appropriate promotion strategy as part of the target marketing. Note that it should ultimately complement your final advertisement design due in Module Nine. A product or service cannot be launched without appropriate financial backing. As part of this milestone, you will also develop a complete, realistic marketing budget. As part of it, you need to correctly price your product/service to reflect financial possibilities of your target market. Specifically, the following critical elements must be addressed: IV. Target Market and Market Segmentation a. Justify why your product is correctly customized to the market you are selling in. Be sure to include your logo image and describe any changes you made to it. b. Justify how your product is appropriately priced for the intended target market group. c. Justify your product placement within the specific international market. d. Develop a promotion strategy for your product in the specific international market. Provide justification for your selected platform(s): i. Media marketing ii. Social media iii. Print iv. Other V. Pricing and Budgeting: In this section, you will develop a complete marketing budget. a. Produce an overall budget for your marketing campaign, consisting of all the required budget items based on your budgeting strategy. b. Provide exact pricing for your selected promotion strategy. The prices should reflect current pricing options in the specific international market. c. Determine whether or not the current product price covers the current marketing budget. Is your budget fiscally responsible? d. Evaluate the impact of adjustments of the current product price to the highest-priced competitor and the lowest-priced product competitors on your budget. Guidelines for Submission: Milestone Three must be submitted as a 2–3 page Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Included should be at least two scholarly references. All references should be cited in APA format. Rubric Critical Elements Proficient (100%) Target Market: Product Logically justifies why product is correctly customized to market, including logo image with annotated changes Needs Improvement (70%) Justifies why product is correctly customized to market, but does not include logo image with annotated changes or has gaps in logic or detail Target Market: Logically justifies how product is Justifies how product is Appropriately Priced appropriately priced for intended appropriately priced for intended target market group target market group, but with gaps in logic or detail Target Market: Logically justifies product Justifies product placement in Placement placement in specific specific international market, but international market with gaps in logic or detail Target Market: Develops appropriate promotion Develops promotion strategy for Promotion Strategy strategy for product in specific product in specific market, market, providing logical providing justification for selected justification for selected platform(s), but promotion platform(s) strategy is lacking detail or relevance to product or justification has gaps in logic Pricing and Budgeting: Produces overall budget for Produces overall budget for Overall Budget marketing campaign consisting of marketing campaign, but does all required budget items based not contain all required budget on marketing strategy items based on marketing strategy or has gaps in accuracy Pricing and Budgeting: Provides exact pricing for Provides exact pricing for Exact Pricing selected promotion strategy selected promotion strategy, but based on current pricing options with gaps in accuracy with in specific international market respect to current pricing options in specific international market Pricing and Budgeting: Determines whether the current Determines whether the current Product Price product price covers the current product price covers the current marketing budget, addressing the marketing budget, addressing the budget’s fiscal responsibility budget’s fiscal responsibility, but with gaps in accuracy or detail Not Evident (0%) Does not justify why product is correctly customized to market Value 15 Does not justify how product is appropriately priced for intended target market group 10 Does not justify product placement in specific international market Does not develop promotion strategy for product in specific market 10 Does not produce overall budget for marketing campaign 15 Does not provide exact pricing for selected promotion strategy 10 Does not determine whether the current product price covers the current marketing budget 10 10 Pricing and Budgeting: Logically evaluates the impact of Adjustments adjustments of the product price to the highest-priced and lowestpriced competitors on budget Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Evaluates the impact of adjustments of the product price to the highest-priced and lowestpriced competitors on budget, but has gaps in logic or detail Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not evaluate the impact of adjustments of the product price to the highest-priced and lowestpriced competitors on budget 10 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 10 100% Running Head: ALLIANCE IN MOTION GLOBAL Alliance in Motion Global SNHU 1 2 ALLIANCE IN MOTION GLOBAL Alliance in Motion Global Alliance in Motion Global is a network retailing company located in Ireland. The company started in 2006 with one individual namely Andrew Tan. The company grows day by day and spreads its branches to several continents such as Africa, North and South America. For instance, the company markets an average worth seventeen million products in South Africa, where it is only eleven months young. The firm works with network marketing. In essence, the first person purchases a package containing several products, which they could then sell or use them. The person then requires inviting more people to buy the product, and the more the customers one brings to join the organization, the more they earn, and so do their downlinks. The package costs about 240 US dollars. People could join the organization by purchasing as more as six packages or instead accounts which then means that they will be entitled to a profit that is six-time higher when they invite a single downlink. The firm' Markets products of a company called Nature ways Pharmaceuticals and Products. The products include beverages such as first-grade chocolate and coffee which are found as part of the package that one purchase when joining the organization. The package also contains washers, that is, feminine and masculine washers that exhibit genital sanitary agents for female and males respectively. More so, the package comprises products ill protect that keeps one safe from the communicable disease within a radius of five meters. Other essential products in the package include the anti-aging factor that helps strengthen the bones of the older people as well as keep their skin healthy. More importantly, the anti-diabetic factor, a natural sugar-level regulatory agent that treats diabetes makes the package complete. The products present to be in high demand in the whole world, thus, marketing them provides pretty good profits to the firm. ALLIANCE IN MOTION GLOBAL 3 Notwithstanding, all the products that Alliance in Motion Global company produces are of high quality and fetch good value in the international market. However, I choose to market two of them in the international market, that is, the anti-aging factor and the anti-diabetic factor. The products are new on the market but have proved potency to the little population that has had a privilege to use them. The older version of the anti-aging factor that was supplied by a company in India was banned from the market by WHO in 2007. Thus, the newly established natural anti-aging factor will fill in the gap left. More so, the anti-diabetic factor is the improved version of the diabetic drugs that existed in the market before. The products will, therefore, make enormous sales in the prospective market Ireland is highly developed nation. Thus, such products will make a good sell because these countries have a higher population of the elderly compared to the young. For instance, research provides that European and Asian countries have the highest contribution of the aging population (Haider, 2017). In another research by King, Aubert, and Herman (1998), the elderly, that is, people above sixty-five years are highly exposed to diabetes compared to younger people. Nonetheless, a research conducted by Ramachandran et al. (2012) suggests that 60% of the world's diabetic contribution arises from Asian and European countries, among them Ireland. Therefore, such a nation will provide a more extensive market for my two products. In conclusion, Alliance in Motion Global provides natural products that are in high demand in the world and would give a variety of them that would sell enormously in prospective countries. Among them are the anti-aging factor and the anti-diabetic agents which are improved versions of the existent pharmaceuticals, and that works well in the older population. In so understanding, a country such as Ireland, which has a high contribution to the world's aging and diabetics, provides a broad market for such products. 4 ALLIANCE IN MOTION GLOBAL References Haider, Faraz (April 25, 2017), countries with the largest aging population in the world, retrieved from https://www.worldatlas.com/articles/countries-with-the-largest-aging-population-inthe-world.html King, H., Aubert, R. E., & Herman, W. H. (1998). Global burden of diabetes, 1995–2025: prevalence, numerical estimates, and projections. Diabetes Care, 21(9), 1414-1431. Ramachandran, A., Snehalatha, C., Shetty, A. S., &Nanditha, A. (2012).Trends in prevalence of diabetes in Asian countries.World journal of diabetes, 3(6), 110. 1 Running Head: Telecommunication and Networking in Ireland Telecommunication and Networking in Ireland SNHU INT 640 2 Telecommunication and Networking in Ireland Telecommunication and Networking in Ireland Ireland SWOT Ireland is a country member to the European Union. Its government is characterized by a democratic representation in the parliament. The head of Ireland is a president who is popularly elected though it is a ceremonial post. The actually power of government is with a government leader who is elected indirectly. The government exercises executive power which is composed of government leader, deputy government leader and fifteen cabinet ministers. It is worth noting that Ireland has a judiciary that is independent of the legislature and the executive. Therefore, because of the independence of the legislature and the non-political nature of the leader of government, the political system of Ireland can be described as one that favors entry of new product especially a networking service (Grant, 2001). Moreover, the telecommunication network of Ireland comprises of a digital system that is modern and has an extensive national fiber that connects it to North America, Asia, continental Europe, UK and several other parts of the world. The telecommunication market in Ireland is competitive and open and is by ComReg. Ireland uses an implemented secondary and primary legislation to govern, control or monitor this sector of electronic communications. It is also important to note that the primary law involves the use of Acts for regulating communication established between 2002 and 2011. The Ireland communication regulations established in 2011 so as to ensure European reform transpose include the privacy regulations, Universal service regulations, regulation for authorization, regulations for access and regulations for framework 3 Telecommunication and Networking in Ireland formation. Introduction of a new product in Ireland is possible because there are restrictions to communication network ownership for foreigners. It is also important to note that there are no specific regulations on the product to be advertise or the media restriction on advertisement. Furthermore, the postal sector, licensing of radio frequency and telecommunication is normally regulated by Commission for Communication Regulation(ComReg), which was founded on December 1st 2002. However, the commercial and public broadcasting is regulated by the Ireland’s broadcasting Authority. The overall regulation and national policy responsibility if broadcasting and telecommunication lies with the minister for Environment, Climate Action and Communication. Branding In 1998, the market for telecommunication was opened to competition. However, the Ireland’s fixed-line communication market is majorly controlled an operator known as Eir. Some other companies dealing with telecommunication on optics networks national fibre optic are Virgin Media Ireland, ESB group and then the dominant Eir. Therefore, my main competitor in the telecommunication market is Eir's fibre network. Eir network is very extensive in Ireland covering many places in the country, with fibre routes of about 12,000 km. It is worth noting that Eir recently rolled out a network for the next generation known as Dense Wavelength Division Multiplexing (DWDM) that is able to deliver up to approximately 320 Gbit/s when operated on a single fibre route. The impact of this new upgrade on the operations of Eir is the fact that it enables the company’s core infrastructure to begin operating on a network that is all-IP. Furthermore, the company has a major node for aggregation in approximately 140 places across Ireland and connections of onward fiber to other sites close to 460 central offices. In addition, Eir networking company is working out a plan to starting FTTC that will be able to provide a networking up speed 4 Telecommunication and Networking in Ireland of 20Mbit/s and a down speed of 100Mbit/s. The company’s new system intends to use a vectoring process and VDSL2 between the end user and FTTC with their services for retailing using the next generation access as the main infrastructure, which is provided by about fifteen operators. The company’s All-IP Next Generation Core Network enables the Eir to provide a connectivity of up to multi-gigabit for their customers in Enterprise that are able to access nodes of over 600 NGN within the setup network. Something else that is interesting about Eir, our competitor is the fact that it’s an open NGN Ethernet carrier which is able to provide the strongest network based on ethernet, not only in Ireland but across all its countries or sites of operation. Many reviewrs in the international market have rated Eir network as super-flexible, have high speed, and to a larger extend unprecedented reliability on both IP platform of a single intelligent manner and on national scale. The price of connecting to Eir network is currently at €270 for homestead not more than 50 m away from the network. Furthermore, Eir faces a lot of competition on the international market and it is mostly disadvantaged by the high prices of its products. In fact, the company owners are thinking of withdrawing from the stock-market and focus on trade sales. (KhosrowPour, 2006) 5 Telecommunication and Networking in Ireland References Grant, G. (2001). Managing telecommunications and networking technologies in the 21st century : issues and trends. Hershey, Pa.: IGI Global. Khosrow-Pour, M. (2006). Cases on Telecommunications and Networking. Hershey: IGI Global.
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