MGT211 Idea Solution:-

Supposed you have been hired as a Marketing Manager in a Multinational Company which is dealing in high tech products. Company wants to launch a cell phone in the market which can measure the Sugar level and Heart beat of the users. Since, it is a specialty product so it requires very rational strategic decisions to be made in order to launch in new market. Selected target market for your company is Lahore. Now you are required to prepare an analysis on the following Ps of marketing before launching this new product in the market.
Product = Specialty
Place = Lahore
Price =?
Promotion =?
* As the target market comprises of the affluent or elites of the city, you need to devise appropriate plan for this.
Requirement
(9 Marks)
Price
You are required to select the best option and justify your answer
Pricing plan:
• Less sale and high profit margin
• High sale and less profit margin
Pricing strategy:
• Skimming strategy
• Penetration strategy
Pricing approach:
• Value exchange = Price
• Cost plus profit = Price
(6 Marks)
Promotion
You are required to mention the proper plan for the promotion of this product under the
following headings.
• Advertisement strategy
• Promotion strategy

Idea Solution:-

 

Semester – Fall 2010

Introduction to Management (MGT211)

Assignment No.2

Product: Specialty

Place: Lahore

Price Pricing Plan: Less sale and high profit margin Pricing Strategy: Penetration Pricing Approach: Value exchange

Promotion Advertisement Strategy:  Advertising strategy consists of two major elements: Creating advertising messages Message Strategy. Message Execution. Selecting advertising media The major steps in media selection are: Deciding on reach, frequency, and impact; Choosing among major media types; Selecting specific media vehicles; Deciding on media timing. Promotion Strategy:   Consumer sales promotion techniques Price Deals Advertising Specialties Coupons Sampling Rebates Premiums Cross-Promotions Contests, Games, Sweepstakes

Please do make changes in these assignment otherwise every one who copy this assignment as it is will awarded zero marks 

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