Marketing Ch10 & Ch11 - Pricing

Assignment

Marketing Week 5

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Literature:

CH10 & CH11: Pricing

CH18: Creating competitive advantage

Instruction

• Complete with your team (ca. 3 students) the assignments and case. Please use the answer form in doing so.
• Please hand in your final version before the first tutorial of week 6 (TT1) by uploading it to the sharepoint site of the course Marketing or by giving it in hardcopy to your lecturer (depending on the agreements made with your class lecturer).
• Don’t forget to bring a hardcopy or softcopy version of your answers to class and prepare as a team how you will be presenting your answers.  
• For the presenting teams, Prepare a PPT presentation of maximum 15 minutes.

• N.B. This is a team exercise. Every group member is responsible for the work which is handed in at the deadline. Hence every group member may be asked by the instructor to clarify your team’s answers.  

Assignment overview:

Assignment # 5

(100 points)

Procedure of successfully completing your assignment:

For a successful completion of the assignments of weeks 4-7 you must follow the following steps:

• Make a Plan of Action

• What information is needed?
• Where are you going to search for information? What sources will you have to use?
• Who is going to do what? When?
• What key topics must be part of your presentation during TT2 ? (Always keep the end product in mind!)
• How are you going to structure this presentation? (It is recommended to make a story board)
• How are you going to make (and possibly share) notes (among your team members). After all, these chapters will be tested by means of a Multiple Choice (MC) exam at the end of the block.

• Timely evaluate ‘work-in-progress’

• Evaluate in time if all team members are on track and help each other out if necessary.
• Identify missing information and help each other out if necessary or ask your lecturer for support.

• Give ‘Team Sign-off’ on the end product

• Check your 2-page summary for completeness, consistency and flow. (It is OK if you divide the work among team members. Yet, the end product must read like 1 summary!)
• Check as a team if you have your 2-page summary and presentation handout available in hard copy before the start of TT2 (Go to the printer in time! Warning: In school ‘last-minute printing’ may be extremely stressful due to queuing and defect machines...)
• Check your presentation for flow and spelling and rehearse your presentation (preparation is key! A 5-minute presentation needs max. 8 slides.)
• Think as a team about possible (discussion) questions you may get during the feedback lesson.

Requirements when submitting your assignment:

• 3-page A4 summary, font size 11 or 12, line spacing 1, consisting out of 4 paragraphs:

1) Answers to the questions below (around 1.5 page) (60 points)

2) Reflections: what did you learn? Key points. (around 1/4 page) (20 points)

3) List of sources used (APA referencing) (around 1/4 page)  (10 Points)

• Article added (10 points)

• For the Presenting teams: Handout of your powerpoint presentation, 4 slides per page.

• Presentation should be max 8 slides.

Assignment # 5

-          Each team will be assigned 1 of the below-mentioned models/topics.

-          Search for articles in magazines in which is shown how this theoretical model can be put into practice. Use these articles to answer the questions. Use Kotler’s text book as a starting point and then take a deep dive in the theory. If you can’t find information, go to the desk in the library. The library staff is always willing to help you. Submit this article in the appendix of your 2-page summary.

-          Prepare a short presentation about your model/topic, in which you give a short and to the point theoretical explanation of the model/topic. Also reflect on how your company/brand of choice fits in this model/topic. In doing so, you must answer the questions listed below for your topic. The total length of the presentation may not exceed 5 minutes.  

1. Pricing strategy: cost-based pricing (CH10)

1.  Explain in detail the pricing strategy of cost-based pricing (see Kotler, p. 305-313). Find theories of different scholars about cost-based pricing strategies. Are these theories the same or different compared to Kotler’s theory?
2. Find articles or case studies discussing the cost-based pricing strategies of 3 multinational companies.
3. How would your company/brand of choice operate in the market if they apply cost-based pricing?

1. Pricing strategy: value-based pricing (CH10)

1. Explain in detail the pricing strategy of value-based pricing (see Kotler, p. 305-313). Find theories of different scholars about value-based pricing strategies. Are these theories the same or different compared to Kotler’s theory?
2. Find articles or case studies discussing the value-based pricing strategies of 3 multinational companies.
3. How would your company/brand of choice operate in the market if they apply value-based pricing?

1. Pricing strategy: competitive pricing (CH10)

1. Explain in detail the pricing strategy of competitive pricing (see Kotler, p. 305-313). Find theories of different scholars about competitive pricing strategies. Are these theories the same or different compared to Kotler’s theory?
2. Find articles or case studies discussing competitive pricing strategies of 3 multinational companies.
3. How would your company/brand of choice operate in the market if they apply competitive pricing?

D)        Pricing strategy: in- and external factors and price elasticity (CH10)

1. Besides customer value perceptions, costs and competitor strategies the company must consider several additional internal and external factors. What are these internal and external factors? Please consult multiple sources including Kotler (p. 314 onwards).
2. Explain the theoretical concept of price elasticity of demand. Why should marketers know about the price elasticity of demand?
3. What are the internal and external factors influencing the price setting of your company/brand of choice? What can you say about the price elasticity of demand for a product/service of your company/brand of choice?

http://www.academia.edu/7563935/tesla_motors_startegic_analysis

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