Assingments % - communication and value capture as a Chief Marketing Officer (CMO).

NO COVER PAGE PLEASE
INSTRUCTIONS ARE AS FOLLOWS;
Principles of Marketing
Instructions and rubric for Part 3
Value Communication and Value Capture
Now that you completed the STP analysis and the value creation and value delivery
strategy, as CMO you are asked to:
Content:
a) Develop strategies to promote and advertise the product (brand awareness, stimulate
demand, push vs. pull). (2 pages)
b) Select a pricing strategy (skimming, penetration, competition, product line, premium
pricing). (2 pages)
c) Reference page (1 page)
Formatting guidelines:
Part 3 must be 4 pages of content (cover points a-to-b listed above) and 1 page of
references. Do not include a cover page. You must cite the book and at least 5
external sources using APA style formatting. Use Times New Roman 12, double-spaced. Do not cite Wikipedia or Investopedia! Other reliable sources are national
newspapers, official government websites, business magazines such as Inc.com,
fastcompany.com, Harvard Business Review hbr.org, and The Economist. To be
successful, make sure you address all the issues described above. Before submitting
your paper, carefully read the rubric on Moodle.
Due on Module 6 (20 points).
Rubric for Part 3
PLEASE SEE THE ATTACHED PAPER AS A REFERENCE TO ASSIST WITH PAPER

Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

Step 1: Understand the Assignment

This assignment requires you to develop strategies related to value communication and value capture as a Chief Marketing Officer (CMO). Specifically, you need to:

Develop strategies to promote and advertise the product (covering brand awareness, demand stimulation, and push vs. pull strategies).
Select a pricing strategy for the product (choose between skimming, penetration, competition, product line, or premium pricing).
Provide a reference page with at least 5 external sources in APA format.

Your paper should be 4 pages of content (2 pages for promotion/advertising and 2 pages for pricing strategy) and 1 page of references.

Step 2: Research the Topics

To address the assignment effectively, you’ll need to do some research. Focus on the following key areas:

Brand Awareness: Explore how brands create awareness through different channels such as traditional advertising (TV, radio, print), social media marketing, influencer partnerships, and content marketing.
Demand Stimulation: Learn about tactics companies use to create demand, such as offering promotions, discounts, bundling products, or introducing limited-time offers.
Push vs. Pull Strategies: Understand the difference between push and pull marketing:
- Push Strategy: Pushing products through distribution channels, targeting intermediaries like retailers and wholesalers.
- Pull Strategy: Pulling customers towards the product through consumer demand and advertising efforts.
Pricing Strategies: Review the different pricing strategies:
- Skimming Pricing: Setting a high price initially, then gradually lowering it.
- Penetration Pricing: Setting a low initial price to attract customers and gain market share.
- Competition-based Pricing: Pricing based on competitors’ strategies.
- Product Line Pricing: Offering a range of products at different price points.
- Premium Pricing: Setting high prices to reflect a premium product image.

Remember, your references must be from reliable sources, such as national newspapers, official government websites, business magazines, or academic journals.

Step 3: Develop Promotion and Advertising Strategies (2 Pages)

For this section (2 pages), focus on how to promote and advertise the product. Structure your essay as follows:

Brand Awareness:
- Discuss various advertising strategies to increase awareness. You can include both traditional methods (TV, print) and modern digital techniques (social media, SEO, content marketing).
- Consider targeted advertising, where specific ads are tailored to different customer segments.
- Explore the role of influencers and content creators in spreading brand awareness, especially on platforms like Instagram, TikTok, and YouTube.
Stimulating Demand:
- Explain methods to generate demand for your product. Discuss tactics like sales promotions, discounts, and loyalty programs.
- Include examples like product sampling, limited-time offers, or bundles.
- Consider seasonal promotions or aligning your product with current events/trends to boost demand.
Push vs. Pull:
- Define and explain push vs. pull strategies in detail.
- Offer examples of push strategies, such as working with retailers to stock the product or using direct sales efforts.
- Discuss pull strategies, like using mass media advertising and digital marketing to attract customers to your product directly.

Step 4: Select a Pricing Strategy (2 Pages)

In the second section (2 pages), choose a pricing strategy and justify your choice. Structure this part of the paper as follows:

Pricing Strategy:
- Start by defining each pricing strategy (skimming, penetration, competition-based, product line, and premium pricing).
- Analyze the market conditions and explain why one of these strategies best fits the product you’re promoting.
- Consider the target market, competition, and long-term objectives of the product when choosing a pricing strategy.
For example:
- If you’re launching a new, innovative product, you might choose skimming pricing to maximize initial profits from early adopters.
- If you want to quickly gain market share, penetration pricing may be a better option, offering lower prices initially to attract a large customer base.
- Premium pricing could work if you’re positioning the product as a luxury item.
Justification:
- Explain why the chosen pricing strategy aligns with the product’s market and customer needs.
- Provide examples from the market or real-world businesses that have successfully used the strategy.

Step 5: Reference Page (1 Page)

After you’ve written the 4 pages of content, make sure to include a reference page in APA style. Here’s what you need:

Cite your textbook and at least 5 external sources. Use credible sources like business magazines, academic journals, or government websites.
Do not cite Wikipedia or Investopedia.
Ensure the references are in APA style, including hanging indents, author names, publication years, titles, and source information.

Step 6: Organize Your Paper

Your paper should follow this structure:

Introduction:
- Briefly introduce the product and the marketing challenges. Provide an overview of the strategies you’ll discuss.
Promotion and Advertising Strategies (2 pages):
- Address brand awareness, demand stimulation, and push vs. pull strategies.
Pricing Strategy (2 pages):
- Choose and justify a pricing strategy.
Conclusion:
- Summarize the key points, reaffirm the strategies you’ve developed, and emphasize their expected impact.
References (1 page):
- List all sources in APA format.

Step 7: Review and Edit

Before submitting your paper:

Proofread for grammar, spelling, and punctuation errors.
Check APA formatting for your citations and references.
Ensure your paper follows the required structure (4 pages of content, 1 page of references).
Verify your word count to ensure it fits within the page requirements.

Step 8: Submit Your Paper

Once everything is in place, submit your paper in .doc or .docx format via the assignment portal.

By following this step-by-step guide, you’ll ensure your paper is well-researched, organized, and meets all the requirements. Best of luck with your assignment!