DUE DATE:  Report II: 2009
     (Week 8 – Class 1)

VALUE:    10% OF YOUR TOTAL GRADE

Resubmit your marked copy of Report I and add: (you may renumber your pages to Part II from where you left off in Part I)

6. Product Strategy

 a. Identify the Product Class (For Example state if, Impulse Convenience Good, New Unsought Good, etc. or if a B-2-B Product, Installation, Accessory Equipment, etc.)
- from the text, Chpt 9. beginning on page 242
 b. Identify your product’s current PLC Stage
 c. Complete description of the
  i)  Core Benefit
  ii)  The Actual Product/Service/Experience (include any product liability or safety concerns)
  and
  iii)  the Augmented Product (warranty, value added services, financing, etc).

Note:  Be sure to describe the versions/models of your product, its quality level, features, style and design, packaging and labelling (submit a hand drawn picture or computer generated graphic, or 3D mock up of your product’s packaging).

 d. Select a Brand Name and identify the type of Brand Sponsorship (i.e. will this be a    national brand, a private label brand, a family brand, etc.)
 f. Identify the brand development to be used:  New Brand, Line or Brand Extension,    or Multi-brand)
- see Branding from MRK 106  witiger.com/marketing/branding.htm

 g. Indicate how value will be created by the Actual Product and the Augmented for your target market(s).
 
7. Price Strategy

 a. Pricing Objectives (survival, long term profit maximization, short term profit    maximization, market share growth, market stabilization, etc.)
           see  witiger.com/marketing/pricingobjectives.htm
 b. Describe how your price supports the product’s positioning.
 c. Will you be using a fixed (one price) policy for all customers or a flexible (negotiated) price for different customers?
 d.  Explain how your price relates to demand elasticity in the market place.
 - elasticity  witiger.com/marketing/supply-and-demand.htm
 e. What other internal and external factors were considered when setting the price?
 f. Show the Suggested List Price(s) for your product charged to final customers.
 g. Show prices charged to all channel members (retailers and/or wholesalers)
 h. Discuss other adjustments to List Price (Discounts, Allowances, geographical/freight pricing)
 i. Identify the New Product Introductory Pricing strategy and provide your rationale    for using it.
 j. Do you intend to use a Product Mix Pricing Strategy?  If so, will you use product line pricing, complementary pricing, bundle pricing, etc.?
 k. Will you be offering Leasing options?  If so, what are your leasing terms?