Homework
PART A
Instructions
You selected your favorite brand and described the reasons why this brand is so appealing to you. For this homework, you will use your favorite brand to create an analysis that identifies the strategic direction of price and promotion.
a. In this homework, you will research and provide pricing examples that compare and contrast various factors that influence promotional strategies for each of the five pricing strategies: premium pricing, penetration pricing, economy pricing, psychological pricing, and promotional pricing.
b. Next, you will determine which pricing strategy is represented by your brand's price and discuss why (or why not) the pricing strategy is effective.
c. Finally, you will discuss if the pricing strategy is aligned with the messaging strategy in the promotions. For example, if the pricing strategy is premium pricing, do the promotions communicate the high value of the brand?
You must reference at least two articles from business-related or news websites. All paraphrased and quoted material must be cited and referenced. You will create a four-page Word document, not counting the title and reference pages.
PART B
Why do marketing professionals care about and participate in supply chain decisions? Do you think small business owners are at a disadvantage if they lack the marketing research resources that large companies have? Why, or why not?
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.