Introduction to Business (MGT211) assignment no 2 fall 2010 10/01/2011

[Xpert]

Assignment No. 2 Marks: 15
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