Bethel College Marketing for Management Discussion

The discussion requires a minimum of 300 words, 3 scholarly sources, including the textbook. Make sure that you use APA style with your references. Under no circumstances use any direct quotes. Any directly quoted or copied material will result in a zero for the assignment. Let’s be sure to write it in own work 100% and give appropriately when using someone’s else work.

Please use complete sentences and proper grammar in all postings. Remember to reference at least two external scholarly sources (in addition to the text or course materials) in your initial post.

Reference for textbook attached:

Textbook: Ferrell, O. C., & Hartline, M. D. (2014). Marketing strategy: Text and cases (7th ed.). Mason, OH: South-Western/Cengage Learning.

Conduct some research on the relationship between price and perceived value of a product or service.

• Discuss the relationship of price to value. Does a low price necessarily mean a better value?
• Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation?
• Support your post with scholarly RESEARCH on price and value.

1,500 word count and there is a total of 5 questions each (not including in-text citation and references as the word count), a minimum of 4 scholarly sources are required in APA format. For the 4 scholarly sources, one from the textbook that’s posted below and the other three from an outside source . Let’s be sure to write it in own work 100% and give appropriately when using someone’s else work. Under no circumstances use any direct quotes. Any directly quoted or copied material will result in a zero for the assignment.

Please use complete sentences and proper grammar in all postings. Remember to reference at least three external scholarly sources (in addition to the text or course materials).

Reference for textbook attached:

Textbook: Ferrell, O. C., & Hartline, M. D. (2014). Marketing strategy: Text and cases (7th ed.). Mason, OH: South-Western/Cengage Learning.

1 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?

2 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.

3 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.

4 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?

5 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.