Product and Pricing strategy.
- This activity is part of your marketing plan. Prepare a 4-5 page report, addressing the following:
- Explain the rationale for the components of the product strategy, such as branding, features/attributes of the product/service, positioning, and service features.
- Discuss how will these product strategy items add value, fit the target market, and support effective marketing.
- Determine and discuss a pricing strategy (Penetration or Skimming).
- Determine and discuss pricing tactics (Product line pricing, Value pricing, Differential pricing, or Competing against private brands) to be used for your product.
- Identify any legal and ethical issues related to the pricing tactics.
o Use at 2 references to support the discussion on the marketing objective, target market, product features/branding, or product positioning.