Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Mkt 571 price and channel strategy

28/12/2020 Client: saad24vbs Deadline: 7 Days

1


5


Price and Channel Strategy


Price and Channel Strategy

Price is not just a number on a tag. It comes in many forms and performs many functions. Rent, tuition, fares, fees, rates, tolls, retainers, wages, and commissions are all the price you pay for some good or service. (Kotler, P.T. & Keller, K.L. 2016). A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors. (Pricing Strategies, n.d.). On the other hand, a channel strategy is a vendor's plan for moving a product or a service through the chain of commerce to the end customer. (Rouse, M. n.d.). This paper will address three elements from the Price and Place/Distribution section of the marketing plan; they are Distribution Strategies, Positioning within channels, and Dynamic/Static Pricing Strategies.


Distribution Strategies


Distribution Strategy is a strategy or a plan to make a product or a service available to the target customers through its supply chain. Distribution strategy designs the entire approach for availability of the offering starting taking inputs from what the company communicated in marketing campaigns to what target audience is to be served. A company can decide whether it wants to serve the product and service through their own channels or partner with other companies to use their distribution channels to do the same. Some companies can use their own exclusive stores for their own products or can use available retail chains to sell their products or a combination of both. (“Distribution Strategy, n.d.”). Apple Inc. is a multinational company having its origin in US. It manufactures and markets consumer electronics, computer software and personal computer. Apple Inc. carries out its operations in 10 countries and operates through its 301 retail outlets and an online business portal from where customers can buy the requisite products. Apple Inc. has evolved as one of the largest companies across the globe and producer of most innovative technology. Apple Inc. wanted to control the entire distribution of products by itself; however, (gradually) they started adding channel partners like AT&T, Wal-Mart and Best Buy which are large scale retailers. (Goyal, P. 2012).


Positioning Within Channels


Positioning is where my product or service stands in relation to other products and services in the market place; and how do I stand out in the consumers mind. In reference to positioning my product (the IPhone), through marketing, advertising, and promotion I will stress the importance of its unique features that is different from all the other smartphones on the market. Because of its unique features the IPhone has the ability to be charged a higher price and deflect or ward-off competition; which makes it a makes a good position in the marketplace and helps the company ride out rough economic times. Additionally, having a good position allows flexibility to the brand or product (in this case the IPhone), in extensions, changes, distribution and advertising. (“Positioning, n.d.).


Dynamic/Static Pricing Strategies. In dynamic/static pricing strategies the price is not firmly set instead it changes based on changing circumstances, such as increases in demand at certain times; type of customer being targeted or; change marketing conditions. The types of businesses that commonly use this type of pricing are organizations that provide service (or service oriented type businesses). This pricing can also be used with product. The types of pricing that are involved in this type of pricing strategies are Segmented Pricing, Peak User Pricing, and Service Time, In segmented pricing, some customers are charged more based on their willingness to pay more for a given service or product. For example (with the IPhone), some customers are willing to pay more for faster service, higher quality or more features. Peak user pricing is a strategy common in transportation businesses. For example, airlines and train companies often charge a higher price to travel during rush hour on Monday through Friday than at other times and on weekends. Another dynamic pricing strategy is to charge more for faster service (time). For example in service time, same-day dry cleaning would cost more than overnight cleaning. (Magloff, L. n.d.). Just to name a few.


Conclusion


By having an understanding of price and channel strategy a business and its channel partners can be very be successful in its fight against it competitors and their channel partners (and what they have to offer). By analyzing and monitoring each step as it relates to the process of price and channel strategy will not only impact sales and or revenue of the company, but its consumers as well. The underline goal is to have affordable pricing and at the same time move products and services through channels or chain of commerce to the end customer, not only now but in the future.


References


Goyal. P. (2012). Apple Inc.’s product distribution system in US and UK. Retrieved from https://www.projectguru.in/publications/apple-inc-s-product-distribution-system-in-us-and-uk/


Kotler, P.T. & Keller, K.L. (2016). Marketing management (15th ed). Upper Saddle River, NJ: Pearson/Prentice Hall


Magloff, L. (n.d.). Dynamic Pricing Strategy. Retrieved from https://smallbusiness.chron.com/dynamic-pricing-strategy-5117.html


Mbaskool. (n.d.). Distribution Strategy. Retrieved from https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/7048-distribution-strategy.html


Rouse, M. (n.d.). Channel Strategy. Retrieved from https://searchitchannel.techtarget.com/definition/channel-strategy


The Economic Times. (n.d.). Definition of 'Pricing Strategies'. Retrieved from https://economictimes.indiatimes.com/definition/pricing-strategies


The Economic Times. (n.d.). Definition of 'Positioning.’ Retrieved from https://economictimes.indiatimes.com/definition/positioning


Applied Sciences

Architecture and Design

Biology

Business & Finance

Chemistry

Computer Science

Geography

Geology

Education

Engineering

English

Environmental science

Spanish

Government

History

Human Resource Management

Information Systems

Law

Literature

Mathematics

Nursing

Physics

Political Science

Psychology

Reading

Science

Social Science

Home

Blog

Archive

Contact

google+twitterfacebook

Copyright © 2019 HomeworkMarket.com

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Homework Guru
University Coursework Help
Top Essay Tutor
Helping Hand
Writer Writer Name Offer Chat
Homework Guru

ONLINE

Homework Guru

Hi dear, I am ready to do your homework in a reasonable price and in a timely manner.

$102 Chat With Writer
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$102 Chat With Writer
Top Essay Tutor

ONLINE

Top Essay Tutor

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

$105 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$100 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Cybersecurity Strategy, Law, and Policy Assignment Resources - Entrapment defense case briefs - Organization wide policy framework implementation plan - Cpl food safety answers - Diels alder reaction of anthracene with maleic anhydride lab report - Module Eight Critical Thinking Exercise - 2336 pounds to kg - E - Ucd timetable 2016 17 - Application of the Nursing Process to Deliver Culturally Competent Care. - Gartner news and insights - Paddy clarke ha ha ha full text - C program for bankers algorithm - Nursing patient teaching plan sample - Financial statement analysis - How organizational citizenship behaviors are bad for organizations and their employees’ performance - Statistical sampling and non statistical sampling - Nursing intervention for fracture - What does vasudeva teach siddhartha - The rational egoist cannot advocate that egoism be universally adopted. - Regression analysis - Write a structured report on this topic - English-Discussion: What's Nora's next move? - Sultan center near me - Si njay njay njay lyrics - Counting strides between jumps - Cloverleaf plc case study answers - Organizational Leadership and Decision Making 5 - Deakin salary rates 2021 - No entry sign germany - Heritage assessment paper - Assignment - Purchased goods on credit accounting equation - How to determine percent recovery - ACCOUNTING - Sf state financial aid - Kerosene safety data sheet - 43462 biscayne drive hammond la - Walden university nursing specialty comparison matrix - Single phase motor soft starter - Baddie winkle flick of the wrist - Summary of leviticus 9 - Archetypes in wuthering heights - Boston bait shop uses a periodic inventory system - Tesco phone return policy - Ransom david malouf pdf free - In german suburb life goes on without cars essay - China crisis wishful thinking lyrics meaning - Phlebotomy medical terminology list - Neville the devil aboriginal - Netflix porter's five forces analysis 2017 - ENG questions - Assignment - Who is good at economics? - Roberts v. lanigan auto sales - Property management system interface - 3/16 tap drill size in mm - Desi arnez hines ii parents - Kiss the devil spray challenge - East egg and west egg map - Melb uni orientation week - Cybersecurity essentials 1.1 chapter 1 answers - Team contract sample - Paper pcr worksheet answers - Nursing - Cross island line pasir ris - Philosophy/ English - A freight train has a mass of - Excel: Short-Term Finance - Zip the pinhead deathbed confession - Week 4 - Dr gluck life without limits - Business management - Disc - 32 amp junction box - Icd 10 code for left tibial plateau fracture - Reply to my peers - A&p by john updike questions and answers - Administration and Supervision in Criminal Justice - Chapter 5 - Dc sweep ltspice mac - At the first psychological clinic the patients were primarily - Thermometric titration experiment discussion - Silent storm atomic testing in australia - CMGT - Starting out with visual basic 2012 6th edition pdf - The 8th habit website - DISCUSSION AND RESPONSE DUE IN 16 HOURS - 2 - Executive Summary of a Key Trend in HIT - HA560 - Future of Nursing - Hackr.io - Picot research paper - Toms shoes revenue 2016 - 2.4 3 two's complement arithmetic answer key - Find the energy stored in the μf capacitorb - John f kennedy moon speech text - Palo alto user id agent configuration - Nursing Theory - Nvr aqtf assessor requirements - Symbolic restitution