Price and Channel Strategy

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Assignment Content

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. 

Assignment Steps 

Resources:

Marketing Plan and Outline

Construct a minimum 700-word plan for setting a 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 (attached). This will be incorporated into your overall marketing plan for Week 6.

Format your assignment according to APA guidelines.

Plagiarism-Free

Running Head: MARKET PLAN AND MEMORANDUM 1

MARKET PLAN AND MEMORANDUM 5

Market Plan and Memorandum

Week 1

MEMORANDUM

To: Senior Vice President of Marketing (Professor Meraj Khan)

From:

Dennis Gamarra

CC: MKT/571

Date: 12/8/2016

RE: MARKETING ANALYSIS

Summary Analysis

In a review of the summary analysis completed by our marketing analyst, I have put together some insights from the report that will help further explain the story in detail. The information provided includes details on the significant areas of increase and decrease in revenue. It will also include trends in terms of revenue and insight that will further grow as well as any additional analysis I can provide.

Revenue Details

In looking at the year to date numbers of January – June 2015 versus January – June 2016, revenue generated during this time frame did increase the year of year. Additionally, in all three-time frames of the overall report, revenue increased, with the majority of it coming from domestic sales. These sales are the strongest in the company and average between all time tables around 87 percent of the business. This does, however, lead to a negative trend in international sales explained later in the memo. There overall are no significant drops in revenue by any specific customer class. However, there were small drops in revenue from particular clients such as Delta Appliance. Overall the company is showing average gains but could compete more and increase profits through a few suggestions found in the additional analysis.

Trends

Gross Profit is an issue with the top customers as for the Month to date figures. It has decreased significantly, with many of the top customers showing a negative gross profit percent. Though the bottom-line total profit percent is unchanged, continuous negative percentages will result in a negative effect on the bottom line. Additionally, international sales across the board are down in comparison to domestic sales as these two in all prior months averaged a close to 50-50 spilled but now are heavily leaning towards the local markets with an almost 90-10 split. The reasoning behind the change is not clearly explained by the report, but it does give provide insight as to where to make future adjustments.

Additional Analysis

It is recommended that Marketing begin to research and focus on the trends going on internationally and focus on impacting those markets. With gross profit being relatively close for either market, driving sales globally will increase sales to the company as a whole. Goals should be set in an effort to maximize the reach of the company and improve the customer base to coincide with businesses generating the most revenue for the company.

Yours Faithfully.

Dennis Gamarra

MARKETING PLAN: NINTENDO

History: Nintendo is most known for the creation of one of the most successful firms providing video games, the Nintendo Leisure Framework (NLF), along with various characters created for software titles such as Exclusive Vibes Brothers. It, however, is a company with a long history that can be traced back to as far as 1890. Its first claim was NExt, and it was a start-up firm whose inspiration came from the work of philanthropists in Japan like Hussein Nehru and manufactured handmade simple playing items used to play various games. (Jones, 2013). Elite Visionaries to 1985 and the firm, who wanted to branch out and produce its own consoles and software, created the NES. This started an unbeaten run that has now lasted more than three decades with the introduction of newer consoles and newer games that take advantage of today’s technological advances.

Company Name: Nintendo

Location of Company Headquarters: Kyoto, Japan

Name of Product or Service Selected: Multiple Products primarily in the Video Game industry including, Hardware, Software, Accessories, and most recent additions into the mobile app industry.

General Description of Company: Nintendo is a firm that has experienced very challenging business periods as well as successful investing periods all through their years in business. It has successfully launched video game systems and been a recognized firm in the provision of such products. However, I have also innovated items that have consumed much of the organizational resources, including most recently lost revenue based on the lack of sales of its current-generation console, the Wii U, but the makeup of that lost revenue with the launch of the mobile app Pokémon Go. Nintendo employs approximately 6,590 employees and has $504.78 billion in revenue per sales made.

General Description of Product or service: The main products that the firm produces are video game hardware and software devices. They have a long history in the video game industry and have many characters and properties that they own the exclusive rights to. There most recent release of a NES Classic, a mini version of console released in 1985 with built-in original classic games, is an example of how the history within the company can be used to generate new profits with little to know new innovation while capitalizing on the nostalgia factor and supplying products for all generations of video game players around the world.

References

Jones, T. (2013). The Surprisingly Long History of Nintendo. Retrieved from

http://gizmodo.com/the-surprisingly-long-history-of-nintendo-1354286257

Title ABC/ 1 23 Version X

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Marketing Plan Outline and Timeline

MKT/571 Version 10

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Marketing Plan Outline and Timeline

Marketing Plan

You are expected to develop a marketing plan, according to the outline below, for a product or service of your choosing. The product or service must be identified by the end of Week 1. The product or service you select is used to develop the assignments for Weeks 2 through Week 6. References must be included for each section.

There are no defined standards for the length of the marketing plan; however, your plan must disclose complete marketing strategies and provide reliable and valid references and data supporting the strategies to convince the target audience. The plan must be written in plain language that would be easily understood by stakeholders.

Marketing Plan Outline

Your final marketing plan must consist of the following sections. Refer to the timeline for due dates for each section and subsection. Assignments may include modifications to these lists. Please use lists provided in assignments only.

· Executive Summary:

· Strategic Objectives

· Products or Services

· Resources Needed

· Projected Outcomes

· Situational Analysis:

· Vision, Mission, Strategic objectives, Values

· Internal Analysis

· Strengths/Weaknesses

· Capability/Capacity

· Competitor’s Strengths/Weaknesses

· Technological Competency

· Product or Service Analysis

· Market Segments

· Research

· Primary Research

· Secondary Research

· Consumer Analysis

· Customer Profile

· Continuous Consumer Monitoring & Research

· Environmental Scanning

· Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces

· Current Opportunities

· Potential Future Opportunities

· Current Threats

· Potential Future Threat

· Target Market(s):

· Demographics

· Psychographics

· Ethical Issues

· Legal Issues

· Social Issues

· Product, Place/Distribution, Promotion, and Price Strategies:

· Product Descriptions and Product/Service Mix Strategies

· Product/Service Determinants

· Creating a Brand Image

· Maintaining Brand Image

· Branding Concerns

· Distribution Strategies

· Channels, Mass, Selective, Exclusive

· Promotion/Integrated Marketing Communication

· Advertising Strategy/Objectives

· Push and Pull

· Media Strategy

· Advertising Execution

· Sales Promotion

· Direct Marketing

· Public Relations/Strategies

· Positioning

· Dynamic/Static Pricing Strategies

Marketing Plan Timeline

Week 1: Marketing Plan Topic

· Consider your company and product or service selection in Week 1. You may select an existing type of product or service or a new product or service but it must be global or multi-regional. Once you have selected your product or service, you must define the size and type of company that provides the product or service (available from annual reports). This need not be elaborate but must include total number of employees, production volume, distribution methods, and so forth. Company and product or service selection is a critical part of this project. You must ensure your proposed company can implement the marketing methods discussed in the text.

· Key to creating an effective marketing plan is the ability to analyze the environment in which the product or service will be offered. The Week 1 assignment allows you to begin to understand various reports and how they can be used in your marketing plan.

Week 2: Understanding Target Markets

· To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In Week 2, create the Research section of your plan. In addition, create the first two parts of the Target Market section, which includes performing the demographics and psychographics analysis.

Week 3: Promotion and the product life cycle

· All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a promotion strategy that addresses at least three areas of the product life cycle.

Week 4: Price and Channel Strategy

· How one goes to market and the influences of the channel (channel power, strength of channel, speed of channel, etc.) affects the pricing strategy of the product or service. In Week 4 your pricing and distribution strategy will be incorporated into the marketing plan.

Week 5: Marketing Communication and Brand Strategy

· Brand strategy and the communication of the brand is essential to understanding the various phases of a product or service (viz a viz the life cycle). Brand recognition is based in the marketing communication efforts of the firm. When you hear or see the word Coke, you immediately know it is Coca Cola. When you see five interlocking rings of different colors you know that is the symbol for the Olympics. In Week 5, you will develop a brand and communication strategy for your product.

Week 6: Executive Summary, Legal, Social and Ethical Issues, Final Plan

· Review your final plan. Does the plan effectively analyze market strategies? Are the social, ethical, and legal considerations valid and accounted for? What is the relationship among quality, price, satisfaction, and perceived value within the plan?

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Copyright © 2017 by University of Phoenix. All rights reserved.