Place and Price Analysis
In Unit 2, you chose a particular organization’s product or service to examine and analyzed the first “P” (product) of the marketing mix. The second and third “Ps” of the marketing mix are place and price. For this assessment, analyze the place and price for a product. You can use the same product you used for the previous assessment, or you can choose another organization or product.
For the place analysis, complete the following:
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- Analyze distribution channels. (How does the organization get the product to market?)
- Analyze where the product is being sold and the approach to inventory.
- Analyze the relationship between the company’s place strategies for the product and the company’s economic success.
- Describe potential management challenges related to implementing the company’s place strategies.
For your price analysis, complete the following:
- Analyze the pricing system for the product. Is it cost-based, value-based, or competition-based? How did you come to your determination?
- Analyze the relationship between the company’s price strategies for the product and the company’s economic success.
- Describe potential management challenges related to implementing the company’s price strategies.