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NEED TO USE TARGET STORE LIKE DONE IN THE PREVIOUS ASSIGNMENT, WHICH I HAVE ATTACHED. PLACE AND PRICE ANALYSIS Overview Using the same company (TARGET) from the Week 3 assignment, create the second part of your marketing analysis focused on next Ps—price and place. Instructions Create a place analysis in which you do the following: Identify accurately all areas where the product or service is sold. Analyze accurately he chosen product or service’s distribution channels. How are they getting their product to market? Which distribution strategies are being used to effectively create a competitive advantage? Provide an analysis of the place strategies and their effect on business success. Describe how the distribution decisions affect the other Ps in the marketing mix. Include the recommendations you can make in terms of distribution decisions that may improve business success. Create a price analysis in which you do the following: Analyze accurately the pricing system along with its characteristics and effect on the marketing mix. Which pricing strategy does the company use, and how does it compare to similar products in the product category? Analyze the pricing strategy’s impact on the economic success of the company? Describe the effect of the pricing strategy on the overall success of the company. In both analyses: Cite any resources you use. Be sure your analyses present a focused purpose through strong organizational skills. Also be sure they present evidence through strong paraphrasing or summarizing and appropriate tone and sentence structure. Additional Requirements Your assignment should also meet the following requirements: Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional. References: References and citations are formatted in consistent style, with a preference for using current APA style and formatting. Refer to the Evidence and APA section of the Writing Center for guidance. Number of resources: Use a minimum of three scholarly resources related to the content of the assignment. Length of paper: 3–4 typed, double-spaced pages, in addition to the title and references pages. Font and font size: Times New Roman, 12 point. More on Price and Place Every company needs to make the important decision of how to move goods from production facilities to the final consumer. Luckily, it’s not a single-option decision. There can be multiple distribution channels a company can use, such as selling direct or through intermediaries like retailers. The most important decision, which can make or break a purchase decision, is the price placed on a product. It needs not only to match the positioning a company has in the marketplace but also to be the hot spot of a target market to prompt a purchase. If the price is too high, consumers may not buy it. If it’s too low, it may be perceived to be low quality and risk not making much profit. A marketing channel (also called a channel of distribution) is a business structure of interdependent organizations that reaches from the point of production to the consumer. The marketing channel facilitates the downstream physical movement of goods through the supply chain. Channels represent the place (distribution) element of the marketing mix (product, price, promotion, and place), in that they provide a route for company products and services to flow to the customer. Consumers do not always choose the lowest-priced product in a category, such as shoes, cars, or wine, even when the products are otherwise similar. One explanation of this behavior, based on research, is that consumers infer quality information from price. That is, higher quality equals higher price. The information effect of price may also extend to favorable price perceptions by others because higher prices can convey the prominence and status of the purchaser to other people. Thus, although both a Timex and a Rolex can tell time accurately, they convey different meanings. Think about the things you bought and what you paid for them, as well as your buying alternatives. It is interesting once you start to look at it more closely.

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