...Branding, Pricing, and Distribution Gary D. Tate Strayer University Marketing-500 Instructor: Brett Jordon 5/17/2012 Branding, pricing, and distribution are all integral parts of a strategic marketing plan. Each segment of the plan needs to be developed individually with the entire culmination of the plan in mind. In other words, each segment should be a link in the chain to a completed marketing strategy. The ultimate goal is to reach a successful culmination of all three tiers that will have a successful impact in introducing the brand, pricing it correctly, and forming a distribution model that will maximize the competitive advantage to the company or service in question. This report will outline the steps in developing a local branding outline as well as an international branding strategy .The idea behind branding is to differentiate your product, value, quality or service from your competitors, and make it more readily identifiable to the end user. There are at least four questions that need to be asked before implementing a branding strategy. The first of course is whether to brand the product vs, a no brand decision. The second decision would be to use a manufacturers brand vs. a private label strategy. The third question entails whether to go with a single brand vs. multiple brands. The final decision is to decide whether to brand in a local market or a global market or a combination of both. Branding in a global market is much more complicated...
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...Running head: Branding, Pricing, and Distribution Branding, Pricing, and Distribution Marketing Management Professor Dotty Heady February 14, 2013 Much of the research I found on branding mentioned the phrase, ‘think global, act local.’ The marketing and management articles introduce this phrase as an idea to help implement businesses treating their product and company as a very personal part of the community’s need. The brand becomes a global brand by adopting broader perspectives & overall managerial efficiency operates in complex multicultural environments. A brand’s strategy should be based on company goals. Having a clear and concise brand strategy leads to stronger overall brand. The way people perceive your product, and how much they are willing to pay for it helps define how a brand can move around and across borders, as word of mouth and social networks grow. At Meme Food and Gas, we want to market our stores for global appeal. We want to be able to open stores that perform well in America as well as in Japan and other countries. Our commitment at Meme is that it becomes the communities ‘one stop shop.’ Though the gas is the main reason for stopping, we can quench thirst and satisfy hunger or even be the miniature addiction to someone’s sweet tooth. We could advertise with a logo of a gas can, but we wouldn’t want to limit the vision strictly to auto services, so sticking with our name: Meme Food and Gas, seems to be the best idea for now. A nice motto that relates...
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...Assignment 3: Branding, Pricing, and Distribution Earl Mitchell Dr. Duane Scott Lithonia Campus MKT 500- Marketing Management August 01, 2013 Strayer University SWOT Analysis SWOT Analysis STRENGTHS | WEAKNESSES | * The State Farm Reputable Brand Recognition. * The Quality and Credibility of State Farm Products and Services Offerings. * The Agency Location. * Ability to build and maintain long term relationship. * Strong leadership skills, with the ability to coach, train, and motivate to achieve the desired results. * Coachable and have the ability to take criticism as an opportunity to learn. | * New Agent to the Industry. * Building Name and Recognition. * Slightly above average unemployment rate. * Competitive Insurance and Financial Service Marketplace. * New Staff development and defining my expectations for performance as sales professionals. * Competing with other established State Farm Agents in the area. | OPPORTUNITIES | THREATS | Increase Population Growth. * Education of all full product offerings. * Above Average Median Income. * Economy causing clients to look at their overall financial health. * Everyday interaction as opportunity to grow business, my Networking. * Support of State Farm Sales Leaders. | * Auto & Fire: Nationwide, Allstate, Farmers, Geico, Progressive Life: New York Life, MetLife. Nationwide Life Health: Aetna, Blue Cross & Blue Shield * Banking Products:...
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...BRANDING, PRICING, AND DISTRIBUTION Marketing Management - MKT 500 Create the domestic and global product branding strategy. Branding and personalizing products attract the consumer’s attention and entices them to make purchases. Marketers use logos, colors, and shapes to create an image in the consumers mind to help them to remember the product, its maker, and origin. “Branding is more than a name; it is s a selection of qualities associated with the name” (Iacobucci, 2012). When it comes to one’s product, one must consider a branding strategy that will create a niche in the market place. Branding strategies are critical to a company because the niche it establishes the company’s image, fosters a competitive advantage, and develop sales. AW Interior Design will use the umbrella branding strategy to create the domestic and global product. According to Iacobucci (2012), the umbrella strategy “attaches the same brand name to all of its products (p. 70).” This strategy will to help showcase the touch screen control panel strictly under AW Interior Design’s, the brand name for the Virtual Angela System, the new product. Offering the Virtual Angela System by AW Interior Design uses name recognition to start with a higher-level of public perception, streamline advertising, reduce costs, and build greater financial outcomes positioning the product for greater competition in the market place domestically and globally (Iacobucci, 2012, pp. 70-71). This approach is similar...
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...Branding, Pricing and Distribution The current century has performed a deep interest towards the innovation in the quality and overall performance in food processing industry. Innovation has acquired a stimulating function in positive changes due to new technologies and implementation of innovative manufacturing sites. Technological innovation in food industry requires the use of natural “green” raw and optimal package for both long-term and safe storage. Frito-Lay`s Inc. is ready to launch a new product within its dip line – a vegetable dip. The most vivid issues of the company’s dip line presentation include a tight focus on the original taste, since this segment of the market is tightly occupied with the companies, competing for the title of the most innovative relatively to launching the most unique flavors, as it directly affects the price policy – uniqueness costs more. The company is eager to concentrate both on the existing market it already occupies and penetrating new markets in different regions of the world. After a thorough research, Egypt has been chosen as a preferred marketing area, being the country with relatively little presence of dip products, thus, demonstrating a high demand potential in the case of implementation of well-developed brand strategy, taking into account both domestic population and tourists flow. USA provides about 14% of Egyptian imports, being the leading Egypt`s imports partner. The GDP per capita rate is 2 781 for the year...
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...Brand Consultant: It's all in the Image Suggest a Career ------------------------------------------------- Top of Form Bottom of Form A branding consultant’s role straddles commercial, market opportunity, consumer connect and future scenarios. Consultants create, manage or alter the brand’s construct and path. They work on defining the brand, its business, its character, its architecture and how it would engage with employees internally and consumers externally. Consultants immerse themselves completely in a brand and then view the analysis objectively. Working across categories can be a fantastic experience. out A brand consultant helps a client build, manage, change or revive its brand image. S/he works with a team in the consultancy as well as with the clients’ marketing, advertising, merchandising, and legal divisions. Pay Off Depends on various factors but could begin at about Rs. 5 lakh to Rs. 8 lakh per annum in a good consultancy. Clock Work 9am: Chat with colleagues on cultural or commercial developments 10am: Plan the day, meetings 10.30am: Quick conversation with boss - any lead, new discussion 11am: Finish proposal. Skills * Strong business sense * Be an extrovert and dynamic * Curiosity to understand the company, the market, the customer * Analytical and creative skills - ability to quick Pros & Cons * You help give birth to brands * Develop an insight into diverse industries * Very good money and international...
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...Assignment #3 Pricing Strategy and Channel Distribution Marketing Management – MKT 500 February 15, 2012 Pricing Strategy and Channel Distribution Determine and discuss a pricing strategy (Skimming and Penetration). One of the four major elements of the marketing mix is price. Pricing is very important strategic element. The pricing strategies impinge on featuring products, channel decisions, and promotions. This strategy helps marketers set prices. (Pride, Hughes, & Kapoor, 2011) There are many ways to price a product. Two commonly known pricing strategies are skimming and penetration. Lavishness Hair Studio is likely to use one or both of them over a calculated period of time. Price skimming involves charging the highest price possible for a short time where a new, innovative, or much-improved product is launched onto a market. The objective with skimming is to “skim the cream” off customers who are willing to pay more to have the product sooner. Prices are usually lowered once demand falls. Penetration pricing is the opposite; it involves the setting of lower, rather than higher price for a new product. The seller wants to discourage competitors from entering the market by building a large market share quickly. The plan is to raise prices as soon as the introductory offer is over (Pride, Hughes, & Kapoor, 2011). Lavishness Hair Studio will use price penetration during the initial opening phase of the business. Penetration pricing is the strategy...
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...Pricing strategy and Channel Distribution Anthony McKenzie MKT 500 Marketing Management Prof. Deidre Guion November 13, 2011 Determine and discuss a pricing strategy (Penetration or Skimming). The marketing penetration strategy its intention is to raise market shares of any product or services that is still prevailing in the consumer market. This particular pricing strategy was adopted by companies and business in order to increase their sales revenue merely because there wasn’t really a need to make any need to make any needless changes that could affect their products or services The other side of market penetration points out that there are other existing businesses or company that selling their products and services to the consumer. However, they can foresee their existing sales figures can change by using the marketing penetration strategy (Market Penetration Strategy, n.d.). Determine and discuss pricing tactics (Product line pricing) Value pricing, Differential pricing, or Competing against private brands) to be used for your product. The pricing tactic choosing to help promote the sales of products for the Alpha & Omega Medical Supply Company is Differential Pricing, the particular reason why this particular pricing tactic was selected. A company or business uses this type of pricing of their products and services. There are individuals who are living below or near the poverty level. What the company or business will do is that they will sale...
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...Pricing Strategy and Channel Distribution Stacy Allen MKT 500 -Marketing Management Dr. Adina Scruggs February 12th, 2012 Penetration entails giving most of the value to the customer and keeping a small margin. The objective is to gain as much market share as possible. It is often used as part of an entry strategy for a new product and is particular useful for preventing completive entry. The opposite of penetration pricing is skimming. Skimming gives more of the cost-value cap to you than to the customer. This strategy is appropriate in a variety of situation. For example, if there is a strong price-perceived quality relationship and the value proposition includes a position of the product at the high end of the market, then this objective makes sense. Financial Objectives * Reach profitability by year two. * Reduce store overhead by 5% each year. * Have a double digit growth rate for the first few years. The product-line approach involves offering both a high-priced and a low-priced brand. For example, this is a classic strategy that Procter & Gamble use. Just for Women Shoes strategy would be running and work out sneakers at the premium level and everyday work pumps (black, navy, brown) at the low end. Value pricing is related to customer expectations: It gives more value than they expect for the price paid. Just for Women Shoes Differential pricing or competing against private brands is to reduce the price gap to the point where consumers...
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...discuss a pricing strategy (Penetration or Skimming). Pricing is very important strategic element. The pricing strategies impinge on featuring products, channel decisions, and promotions. The researcher realizes there is no real determine pricing, following a life cycle for developing the pricing of Destini’s Closet product. First, develop market strategy – which the researcher evaluated and conducted a marketing analysis to identify the market segments, target market, SWOT analysis, and the market positioning. Second, marketing mix decisions – the researcher defined the product (Clothing), contacted manufactures for distribution, and decided promotional tactics. Now the researcher is focusing on the cost productions, price of substitute products, and prices offered by the competition. The researcher notices that competitors change their prices often. Case scenario, competitors are always looking for a competitive match, this can be an advantage and a disadvantage for the business. Competitors may strategize a different packaging of their product; this can be good for Destini’s Closet by reducing their price. It’s all up to the customer wants and needs. The demographic crowd the researcher is focusing on would rather price reduction then a new look to a product. What if production price are rising? If production price is rising it’s up to the Destini’s Closet to determine the price increase without turning the customers to their competitors Two commonly known pricing strategies...
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...PATIENT INFORMATION Date Last Name Date of Birth Address Home Phone Number Employer First Name Middle Initial Age Social Security Number City State Zip Other Phone Number Work Phone YES NO A. Are you pregnant? If yes, please stop and return to the front desk. B. Are you on ANY type of steroids (oral, inhaler, injections or creams)? Have you been on steroids within the past 3 weeks? C. Have you had an organ transplant? D. Have you had cancer? Are you in remission? E. Do you have any implanted electronic devices? YES YES YES YES YES YES NO NO NO NO NO NO Can we leave a message on your answering machine? YES NO May we contact you at work? YES NO May we give results at this address? YES NO Would you like to receive occasional informational notifications? If so please provide address: Email Authorization to release information to and relation. Your Primary Care Physician Is: Have you ever filed legal actions against a healthcare provider? YES NO EMERGENCY CONTACT INFORMATION Last Name First Name Phone Number(s): Nearest Relative/Friend Not Living With You: Phone Number(s): Middle Initial Above information will be used for verification and emergency purposes only. How Did You Hear About Laser Med Center? Patient Signature: _____ INITIAL CONSULTATION AND PATIENT HISTORY Circle any of the following which apply: - Arthritis - Compression Fracture - Diabetes - Kidney Failure/Dysfunction - Liver Failure/Dysfunction - High Blood Pressure - Irregular Heart Beat - Light Sensitivity...
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...o Discuss how households have changed over the past 20 years and the implications of these changes on the purchase of consumer goods. Over the past 20 years, the traditional household dynamic has drastically changed. In the early 1900’s families consisted of a husband, wife and children. Most people were married at a young age and were focused on family rather than their careers. In today’s society people are getting married later, households sometimes consist of two husbands or two wives and people are career focused. With modern technology allowing for households to have interactive programs, internet and even phones consumers are focused on speed. Consumers want things faster, cheaper and better. Manufacturers must now find better faster and better ways to reach consumers. With Social Media outlets such as Facebook and Twitter quickly taking over, manufactures have adapted a new way to reach consumers. o How would Procter & Gamble market shampoo to Young Transitionals differently than Start-up families? Proctor and Gamble can market shampoo to different segments of the population by taking to social media and adapting new marketing methods. Many manufactures have taken to sites such as Groupon and Living Social to market new products. In a turbulent market consumers tend to use coupons more and to seek specials. Groupon and Living Social provide a discount to consumers for trying a new product or service. Consumers pay twenty dollars and receive 40 dollars towards...
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..."Distribution and Pricing" Please respond to the following: • Discuss the various ways that distribution adds value (or utility) to a product or service, the impact that wholesalers and retailers have on that value, and how it can be used as a competitive advantage. Strictly speaking, although a wholesaler may own or control retail operations, wholesalers do not sell to end customers. Indeed, many wholesale operations are themselves owned by retailers or manufacturers. Wholesalers are extremely important in a variety of industries, including automobiles, grocery products, plumbing supplies, electrical supplies, and raw farm produce. Wholesaling involves that part of the marketing process in which intermediaries, i.e., those between the producer and end consumer, buy and resell goods, making them available to an expanded buyer's market over an expanded geographical market area. As middle agents, wholesalers are only effective when the price they charge for goods and services is less than the value placed by customers. By facilitating the transfer of title of goods, they are involved in the bulking and distributing of goods. (www.referenceforbusiness.com/encyclopedia/Val-Z/Wholesaling.html#ixzz1nOmy6Yk2 ) • As you market yourself to employers, the salary you demand is essentially your personal price. Keeping that in mind, determine the pricing strategy should you follow (penetration, skimming, or competitive). Explain your rationale. In most cases competitive pricing strategy...
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...from manufacturers, then distribute them to consumers and other buyers. A channel of distribution includes the locations where sellers market their products to the final consumer. This could be a combination of institutions through which sellers deliver their product (i.e., wholesalers, retailers, agents). There are many marketing functions that are handled by these intermediaries, including buying, selling, sorting, financing, storage, and transportation. The conventional channels of distribution involve many methods of getting products to the final consumer. These methods may include distribution from the manufacturer directly to the consumer, distribution from the manufacturer to a retailer to the consumer, and several others. From a strategic point of view, the term "supply chain management" connotes a holistic, systems approach to viewing product distribution as an integral component of partnering with vendors, suppliers, and various intermediary marketers. When determining a channel of distribution plan for a company, the choice of channel may be influenced by the distribution coverage required, the degree of control the company desires, the total distribution costs, economies of scale, and channel flexibility. Distribution "can be viewed along a continuum ranging from intensive to selective to exclusive distribution" (Peter and Donnelly, 2007, p. 150): Intensive distribution − "the manufacturer attempts to gain exposure through as many wholesalers and retailers...
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...PHASE 4: Individual Assignment Phyllisia Weeks June 16, 2015 MKTG 630-1502b-02: Applied Managerial Marketing Colorado Technical University The two pricing strategies that M&M need to take in consideration are Penetration Pricing and skimming strategy. Our book for this class outlines four strategies that are essentially used in the business, which are skimming, economy, penetration, and premium pricing strategies (Definition of Pricing, 2015). Organizations may diversify the four mentioned strategies, or may include even more strategies that are found through researching, such as the high and low strategy, marginal cost pricing, and market oriented pricing. Price may maximize revenue and profits, or may backup existing market from new competitors (Definition of Pricing, 2015). However, for this assignment I’ve chosen the before mentioned strategies, penetration & skimming as I’ve compared and analyzed M&M’s benefits in comparison to the cost associated with gaining them. Penetration pricing is set preciously short in order to gain market share swiftly. After a new service is launched, there is an understanding that prices increase after the period of promotion and also after there are achievements of market share objectives (Definition of Pricing, 2015). With penetration pricing, there is a goal of customers’ attraction from setting prices low. Skimming strategy’s idea is to recuperate maximum money upon services attract more competition that will decrease...
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