MKT 301 M4/5 SLP NEW YORK TOUR SERVICES

MKT 301 M4/5 SLP NEW YORK TOUR SERVICES

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PART 1 THE MARKETING MIX: PROMOTION
Introduction
The questions for this assignment direct you to consider marketing communication and promotional activities. This is quite an extensive section of the marketing strategy.
2 pages

Marketing Strategy Sections for NEW YORK TOUR SERVICES
Assess the INFORMATION NEEDS of target market(s). What information will your potential customers need, (e.g. address of premises)?
indicate whether any PERSONAL SELLING will be involved and if so what forms this will take. If not explain why not. If so:
• What training should be received?
• What incentives will the sales force earn?
• How will you evaluate selling performance?
Set COMMUNICATION OBJECTIVES for your service. What do you want to achieve in what time frame in terms of your communicating to your potential customers?
Develop an effective COMMUNICATIONS STRATEGY.
• What advertising media are to be used?
• Develop an effective public relations program for your business.
• Decide what sales promotions you are going to use.
Describe how you will measure ADVERTISING AND PROMOTIONS EFFECTIVENESS.
Make sure you use section headings for each of the sections. Use the CAPITALIZED BOLD words as main headings and the non-capitalized bold words as subheadings.
Write in a succinct, organized, and professional way. DO NOT USE ESSAY FORMAT.
Assignment Expectations
It is expected that you will explain the alternatives you considered and why you decided to make the recommendations you do. Also that you will use information from the background readings as well as any good quality sources you can find to deepen your understanding of the project and that you will cite all sources and provide a reference list at the end of the paper.
The following will be assessed in particular:
• Your demonstrated understanding of the concepts and frameworks used to conduct analysis for the project. Generally formal definitions are not required as understanding can usually be demonstrated by the way you apply or interpret the concepts.
• Your ability to conduct marketing analysis appropriate to the project. The sections above require a combination of description, (e.g. what will be done) and analysis (explaining why it should be done that way). Graders will place more weight on analysis than description alone.

PART 2 THE MARKETING MIX: PRICE
Introduction
The questions for THIS ASSIGHNMENT IS part of your marketing strategy direct you to consider pricing activities.
2 PAGES
The New Section of the marketing strategy NEW YORK TOUR SERVICES
For your service, taking account of the marketing activities previously described and allowing for your time to provide the service and any ancillary costs, assess the OVERALL COSTS of your business which you would take into account in setting prices.
PRICE SETTING: How will you set your price(s)?
Will you use TEMPORARY PRICE PROMOTIONS?
PRICE DISCRIMINATION: Will you vary your prices by segment? If so for whom and what will they be?
What will your expected PROFITS be? Show calculations for your expected profits over a reasonable time period. Refer to previous sections where you have stated performance goals.
Make sure you use section headings for each of the sections. In addressing the sections the CAPITALIZED BOLD words in the sections as headings and the non-capitalized bold words as sub-headings.
Write in a succinct, organized, and professional way. DO NOT USE ESSAY FORMAT.
Assignment Expectations
It is expected that you will explain the alternatives you considered and why you decided to make the recommendations you do. Also that you will use information from the background readings as well as any good quality sources you can find to deepen your understanding of the project and that you will cite all sources and provide a reference list at the end of the paper.
The following will be assessed in particular:
• Your demonstrated understanding of the concepts and frameworks used to conduct analysis for the project. Generally formal definitions are not required as understanding can usually b e demonstrated by the way you apply or interpret the concepts.
• Your ability to conduct marketing analysis appropriate to the project. The sections above require a combination of description, (e.g. what will be done) and analysis (explaining why it should be done that way). Graders will place more weight on analysis than description alone.

Background MATERIAL
Background
THE MARKETING MIX: PROMOTION
Having developed an understanding of how consumers make purchase decisions, and how marketers analyze markets and select targets, we turn our attention in Modules 02-05 to how firms can win and retain customers and here in Module 04 we focus on one of the four elements of the Marketing Mix, “Promotion”, the form and manner of the communications made about the product to the customer and/or to channel intermediaries.
Note though that the other elements of the marketing mix also communicate information to the consumer. For instance the design and look of the product in the case of goods, or the physical setting and appearance of staff in the case of services, the distribution outlet, and its location, and the stated price, all communicate information about the product. Thus the Promotional, Distribution, Product and Price strategies must all work together to achieve the objectives of the marketing strategy.
This raises a number of questions such as:
• What methods are available to marketers to communicate information about products?
• Is communicating “information” all that goes on in promotion, or are there other more subtle, less obvious (to the receiver) effects?
• How do marketing managers develop effective promotional strategies?
The materials on this page as well as in the case have direct relevance to those questions and the fourth part of the marketing strategy you are developing as your SLP.
For both the case and the SLP, the following materials have been provided:
Resources for all modules:
1. The course designer has prepared background materials for each module that can be accessed through the presentations link at the top of each page.
2. An extensive glossary of marketing terms can be accessed at
Marketing Power Dictionary (2011). American Marketing Association.. Available March 7, 2013 at
http://www.marketingpower.com/_la
3. The following reference covers a range of marketing topics:
Marketing Made Simple. (n.d.). Available March 7, 2013 at. http://www.marketing-made-simple.com/
Module 4 Readings
Christ, Paul (2011). Principles of Marketing. KnowThis.com.
Read the following chapters:
• Promotion Decisions
• Advertising
• Advertising Campaign
• Sales Promotion
• Public Relations
• Personal Selling
• The Selling Process
Available March 7, 2013 at
http://www.knowthis.com/principles-of-marketing-tutorials/
Digital marketing works better for millennials than TV (2012). Tech Journal (January 24).
Available March 7, 2013 at
http://www.techjournalsouth.com/2012/01/digital-marketing-works-better-for-millennials-than-tv/

Want to reach male shoppers? Target their phones (2011).
Available March 7, 2013
http://www.marketingvox.com/want-to-reach-male-shoppers-target-their-phones-049435/?utm_campaign=rssfeed&utm_source=mv&utm_medium=textlink

THE MARKETING MIX: PRICE
Having developed an understanding of how consumers make purchase decisions, and how marketers analyze markets and select targets, we turn our attention in Modules 02-05 to how firms can win and retain customers and here in Module 05 we focus on the final element of the Marketing Mix, Price, what it costs the customer to own our product. Note that this conception of Price, rather than “What we charge the customer”, more usefully represents the customer-oriented perspective taken by marketers.
This raises a number of questions such as:
• What alternative methods are available to marketers to price products?
• What factors do marketing managers take into account when setting a price?
The materials on this page as well as in the case have direct relevance to those questions and the fifth and final part of your SLP.
Marketing Power Dictionary (2011). American Marketing Association.. Available March 7, 2013 at
http://www.marketingpower.com/_la
3. The following reference covers a range of marketing topics:
Marketing Made Simple. (n.d.). Available March 7, 2013 at
http://www.marketing-made-simple.com/
Christ, P. (2011). Principles of Marketing. Available August 30, 2012 from KnowThis.com. Review the following chapters:
• Pricing Decisions
• Setting Price
Available March 7, 2013 at
http://www.knowthis.com/principles-of-marketing-tutorials/

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