Assignment:
Price Strategy/Breakeven Analysis
One of the most challenging decisions faced by marketers is setting the price for their products and services. In order to select the right price, you need to ensure that you'll be able to cover your costs and meet customers' needs at a price that they are willing to pay. You will need to perform a breakeven analysis to determine the best price. outline six steps that organizations follow to set price. Follow these six steps to set prices for your product or service and perform a breakeven analysis. Submit your price strategy/breakeven analysis via the Dropbox for grading and feedback. Be sure to incorporate any feedback provided by your instructor into your final Course Project.
6.Marketing Program
a. Product Strategy How will your product be placed in the market? Is it right for your market?
b. Price Strategy I want to know the price of your products. I want you to explain why you chose your prices. Are they realistic?
(i) Breakeven Analysis I want to see your breakeven numbers and formulas. I want you to choose three different prices. I would like to see graphs and charts.
c. Promotion Strategy How will you promote your company? T.V., direct mail, social media?
d. Place (Distribution) Strategy Where will you place your product in the market?