Outline of the Project Introduction Covers the ff: industry analysis, company profile, problem/s identified. Analysis Conclusion and RecommendationOur Business is Selling Motor Components PRICING STRATEGIES: FINAL COURSE PROJECTDescription of the Project: This project is a culmination of all the lessons that you have learnedsince the course has commenced. Thegoal of the project is to apply the concepts from the courseto a real pricing problem by applying the ideas covered in class. Each pair should select aninteresting problem and analyze the pricing decision faced by a business. The pricing problemcould be one currently or previously faced at work. Do not simply present case analysis profilingan industry and its players. I want you to either use data to analyze a pricing problem or toprovide an analysis of an original pricing problem. I will be primarily interested in your analysis.As you apply your results to analyze the pricing problem, you need to indicate how yourrecommendations are justified by the analysis (i.e. data etc.).The project will be evaluated on the following criteria:1. Is the project addressing an interesting question?In evaluating the interestingness of the project, I will consider the following general criteria:Is this problem of interest to a manager in this particular field? Your target audience for theproject is a manager in the relevant area and your analysis should help inform this person'sdecision. Timeliness of the problem will be one relevant criterion.Why is this pricing problem non-trivial? The answer to the pricing problem should not obviousbased on some existing pricing policy. Among the alternative strategies a firm could use, thereshould be some level of support for at least two strategies. If there is only one strategy that makesreasonable sense, then the question may be too simple for the project. For example, in the autoindustry some firms use no-haggle pricing, some firms negotiate, and others use a mix of bothstrategies. An existing car dealership may want to examine their current pricing policy relative tothese options. Each policy has its own set of pros and cons, and the best strategy is likely todepend on a number of dealership and market-specific factors.What information (e.g., data, articles, etc.) is available to support the analysis? Actual pricing andsales data are not required, but one can clearly make a stronger case with such data. Publicsources of data (e.g., newspapers, magazines, financial disclosures, marketing research reports,etc.) are sufficient, provided they contain some detailed information about specific firms and theindustry. You may also consider using a survey or interviews to collect additional data. You caneasily survey students in class or on campus. I understand the student population is unlikely tobe representative of your target population, but this is OK. In many situations, students have alsoconducted interviews with managers to collect data. A good source of interesting pricingproblems is projects from your own work experience. If the corresponding pricing data areconfidential, it can easily be disguised in some fashion.2. AnalysisIn general, your analysis should involve taking concepts covered in the course, applying them tothe problem at hand, and developing a sensible pricing strategy. You are free to use additionaltools (e.g., regression, break-even analysis, conjoint, etc.) as part of your analysis. Your analysisshould cover, but not be limited to, the following points:Your analysis should cover, but not be limited to, the following points:Customers and demand• Who are the customers? Potential customers? Who are the competitor's customers?• Segmentation• Price sensitivityCompetition• Who are the competitors?• What are our relative strengths and weaknesses?Costs• What is this firms' cost structure (variable vs. fixed)?• What are other firms' costs?Resources• What resources does this firm bring to the table?• Opportunities for price customization• Integration of pricing policy with other elements of the marketing mix• Implementation - logistics, organizational issues, sales forceOverall, I am looking for a clear and compelling analysis of the problem with conclusions that arewell supported by facts and logical reasoning. As an owner/manager, I am looking for analysisthat sheds light on a specific pricing problem. You should advocate for a specific policy andprovide evidence to support your position. A thorough analysis would also clearly indicate whyalternative policies are dominated by the recommended policy. The evaluation will be based onthe totality of the analysis.3. RecommendationRecommend a specific course of action:Example:• You can state a suggested pricing policy, e.g. "Our analysis supports that Microsoft should priceat $99.99,"In sum, tie your analysis together with some specific recommendations on what to do next andwhy this is justified. Make sure your recommendations are directly linked to your analysis (i.e.make sure you can back them up).

In this project, we will analyze the pricing decision faced by a business that specializes in…

Answered: Outline of the Project Introduction…

Outline of the Project Introduction Covers the ff: industry analysis, company profile, problem/s identified. Analysis Conclusion and Recommendation Our Business is Selling Motor Components

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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