Assignment 2: LASA 1: Product & Price
Using the Waters Bottling Company in Module 1, continue to build the Marketing Plan Sections for the product you have selected/ invented/ created. Complete the following in MS Word: Be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis.
This assignment represents Section 3 of the Marketing Plan. Use the guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3– Product & Price (Module 3).
Section 3 – Product & Price (Module 3 LASA 1)
- The Product
- Product Levels: Core, Actual, & Augmented (Packaging)
- Product Life Cycle
- BCG Model
- Services Marketing
- Price Analysis and Determination
- Alignment with Company Objectives and Strategies
- Pricing Strategies as related to Supply & Demand
- Competitive Pricing on Similar Products
You will create a complete Marketing Plan by the end of the course. You will write the third section of the Marketing Plan for this assignment. Use the Marketing Plan guide to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 3 – The Product & Pricing (Module 3).
Relate all responses using the WBC scenario and the product you have selected to market in Module 1.
Create a 4- to 6-page Word document for your Marketing Plan Section. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.
You are the new marketing manager to The Waters Bottling Company (WBC) of Munsonville, NH. They have never done any marketing for their water before so they will need to be educated as to the role of marketing in their company’s success. They started their company last year and want to “do it right” according to their president and founder, Dr. M. Waters. (The M stands for Muddy so he prudently only uses the initial. He also is rather fond of Blues music, which he would like to incorporate into the marketing plan in some way.) They want to sell their crystal clear, granite filtered mountain water to the “right” market. It is your job to identify that target market. At this point, they don’t even know how the product should be packaged or have a name to identify it. You will get to make that determination and carry that product through the entire Marketing Plan.