Strategic Marketing Approaches: Navigating Product Portfolios, Service Challenges, and Pricing Strategies Solution

1. Strategic Marketing Approaches: Navigating Product Portfolios, Service Challenges, and Pricing Strategies Solution

1600 words MINIMUM (not including cover/reference pages or questions)

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Requirement is at least five scholarly articles, ONE maybe the course textbook BELOW

Textbook(s)

Ferrell, O. C., & Hartline, M. D. (2017). Marketing strategy: Text and cases (7th ed.). SouthWestern/Cengage Learning.

UNIT 4 Complete

Using APA format and at least four APA formatted references and citations, please respond to the following questions:

• Most organizations sell more than one product. They may offer a portfolio of products. Construct a matrix of an organization’s product portfolio that reflects its width (variety) and depth (assortment). Imagine you are the organization’s Chief Marketing Officer. How would you defend the decision to offer so many options to meet buyer needs?
• Though goods and services are both types of products, they present different marketing challenges. Using a service with which you are familiar, identify how unique characteristics of services in general are manifested for your service. Develop recommendations for marketing the service that can overcome the marketing challenges related to these service characteristics.
• There are several strategic options organizations can follow when introducing new products. Estimate the relative risk and return associated with the level of innovation reflected in a new product launch.
• Though organizations sometimes base pricing decisions on the cost of materials, another option is to base price on perceived customer value. Choose a product and estimate the perceived value of that product as a function of customer benefits and customer costs. Compare your estimate to the actual price charged for the product. What modifications to the price would you recommend?
• Imagine an organization has asked you to create its pricing strategy. You decide to base your proposed price recommendations on possible pricing objectives. Using the same product you chose in Question 4, examine how price decisions should be adapted for the pricing objective

Instructions

1. Strategic Marketing Approaches: Navigating Product Portfolios, Service Challenges, and Pricing Strategies solution

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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