Module Four Milestone Worksheet Promotion & Pricing

In the Module Two milestone, you selected a product and developed a persona that reflects your target market. Your work on this milestone must be based on the same product selection. Review the feedback from your instructor on your persona and make any needed improvements before completing this assignment. Your work on this milestone must be based on that corrected persona.

In this milestone, you will consider promotion, specifically marketing communication channels, and price.

You will receive instructor feedback on this milestone, revise your work, and add it to your project submission.

Directions

Complete the Module Four Milestone Worksheet in your Soomo webtext linked in the What to Submit section below and submit it for instructor feedback. To navigate to the worksheet, click the Contents button on the upper right, then select the Milestone: Module Four Milestone tab from the Chapter Four drop-down menu. Use the persona from your Module Two Milestone, with revisions based on instructor feedback, as the basis for this milestone.

Specifically, you must address the following rubric criteria:

1. Promotion
2. Marketing Communication Channels: Describe two marketing communication channels for your chosen product. Briefly describe each and explain why they are appropriate based on your persona.
3. Price
4. Approach to Pricing: Explain how one of the following factors is used to determine the approach to pricing for any offering.

• Company profitability
• Competitor pricing
• Target market price sensitivity

1. Pricing Strategy: Select which one of the four basic pricing strategies (skimming, premium, economy, or penetration) you feel is most appropriate for your chosen product and persona. Describe the general advantages and drawbacks of that pricing strategy.