***NOTES FROM ME: Please provide more than 700 words of content since I will not use any content I do not truly understand. Please cite ALL sources used within the paper along with References page at the end. Assignment says to use at least 3 peer-reviewed sources but more important to me is that there are at least three sources with hyperlinks to websites I can easily access online. Course text book shown in profile of this assignment is a good option as one source (if you choose). Please do not use word for word quotes from sites like Investopedia as I have had a tutor do that before and I had to fix it. Thanks for the help!
Purpose of Assignment
This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study.
Construct a minimum 700-word plan for setting price and a distribution model (place/distribution) in Microsoft® Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution section of the marketing plan.
- Price and Place/Distribution:
- Distribution Strategies
- Channels, Mass, Selective, Exclusive
- Positioning within channels
- Dynamic/Static Pricing Strategies
- Channel tactics (Pricing)
- Daily pricing, promotion pricing, List pricing
Note: Charts/graphs/tables do not count toward the word count.
The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.
Explanation & Answer
Running Head: PRICE AND CHANNEL STRATEGY
Price and Channel Strategy
PRICE AND CHANNEL STRATEGY
Pricing and channel strategy plays a fundamental role in the organizational marketing
plan strategy. For a company to achieve operational excellence, it is important to develop an
effective pricing strategy that can enhance its competitive within the market. Customers are price
sensitive and are more attracted to companies with competitive pricing strategies. In other words,
being a price leader company can different the company from competitors and enable the
company gains greater market share within a competitive market (Matsui, 2017). Pricing is,
therefore, an essential component of marketing strategy since it determines the success or failure
of the company within a competitive market. Low pricing strategy may be considered a
competitive strategy for a company to gain market although it should be done with a lot of
caution as it may hinder the earnings and profitability of the company in the long run.
Companies, therefore, need to gain greater insights into their pricing by looking at their customer
chain and understanding the discounts and multipliers that are necessary at each stage to along
the customer chai...