No More Worries!

image Our orders are delivered strictly on time without delay

Paper Formatting

  • Double or single-spaced
  • 1-inch margin
  • 12 Font Arial or Times New Roman
  • 300 words per page

No Lateness!

image Our orders are delivered strictly on time without delay

Our Guarantees

image

  • Free Unlimited revisions
  • Guaranteed Privacy
  • Money Return guarantee
  • Plagiarism Free Writing

Demonstrate integrity through the application of relevant codes of conduct

Demonstrate integrity through the application of relevant codes of conduct and social responsibility within one’s profession.

Introduction:

Promotion and pricing of a product or service involve consideration of the strategies as well as how the strategies will be carried out, in line with the organization’s values. You have read about promotion and pricing (two of the 4 P’s of the marketing mix) and had an opportunity to review the 4 P’s tutorial. You read about ethics and social responsibility in Chapter 3 and discussed these topics in the discussion. In this assignment, you will apply these concepts to a real-world company scenario. In addition, you will add audio to your presentation that speaks to the audience specified in the scenario. Being able to prepare a professional audiovisual presentation is an important career skill and can be added to your resume once you have become proficient.

Read the scenario below and address all the checklist items.

Scenario:

A startup company, Korwin Pharmaceuticals is a U.S. pharmaceutical products firm that is growing very rapidly at home and abroad. Integrity and honesty regarding product quality and concern for consumer well-being are values of the founders of the firm.

Recently, Korwin Pharmaceuticals developed several new products to service customers who cannot afford the pricier life-saving anti-allergen medications and the self-injecting devices currently on the market. These products can be self-injected by the person suffering from a life-threatening allergic reaction and were just recently approved for the marketplace by the U.S. Food and Drug Administration.

To respond to the projected rapid growth of the firm, they are going to hire an additional 100 employees in the next 2 months to cope with the demand for these new life-saving products. Because the company is hiring so many new employees, they are concerned with maintaining the founders’ original values of social responsibility while ensuring a quality product.

They are also concerned with promoting and pricing these new products fairly, based on the company values along with their concern for affordability for the middle class in the U.S. and other consumers and client companies abroad.

As a marketing consultant to the president of the company and executive management, address the items pertaining to the promotion and pricing strategy for the company’s new products in line with the company founders’ values and their social responsibility.

Checklist:

Promotion:

Specify what code of conduct the company should institute to make sure that all personnel adhere to the founders’ values in promoting and pricing the product at home and abroad.

Provide an advertising campaign (using pioneering, competitive, or comparative advertising) for this line of life-threatening anti-allergen medications and self-injecting devices using three (3) different types of advertising.

Provide a public relations strategy to promote the new product line while considering the social responsibility involved.

Prepare one (1) promotional tool each for consumer sales promotion, personal selling, and social media.

Describe how the four (4) AIDA concept stages are to be addressed.

Pricing:

Explain three (3) possible pricing strategies and any discounts, rebates, trade discounts, and/or allowances that would apply for this new line of life-saving products.

Explain how you will determine a profit has been realized based on your pricing objectives.

Sample Solution

geographical forces impelling them to leadership. The opening of old lands in Asia and new ones in America changed Europe forever, and the Iberian countries understandably felt the changes first. The Portuguese government, for a time, made large profits from its Eastern trade, and individuals prospered; but Oriental luxuries were costly compared with the European goods that Portugal offered, and the balance had to be made up in specie. This eastward drain of gold and silver had gone on long before Portuguese imperial times, but it was now intensified. Much of the bullion reaching the Orient did not circulate but was hoarded or made into ornaments; consequently, there was no inflation in Asia, and prices there did not rise enough to create a demand for Western goods, which would have reversed the flow of bullion from the West. The Portuguese obtained most of the precious metal for this trade from spice sales through Antwerp and from Africa. The drain proved critical, and, by the reign of John III, the government found itself hard pressed economically and forced to abandon overseas posts that were a financial burden. Later, beginning in the 17th century, Portugal drew its own supply of jewels and gold from Brazil. Spain’s case was the reverse; although the first American lands discovered yielded little mineral wealth, the mines of Mexico by the 1520s and those of Potosí (in modern Bolivia) by the 1540s were shipping to Spain large quantities of bullion, much of it crown revenue. This did not furnish Charles V and Philip II their largest income; Spanish taxation still exceeded wealth from the New World, yet American silver and gold proved sufficient to cause a price revolution in Spain, where costs, depending on the region, were multiplied by three and five during the 16th century. The Spanish government wished to keep bullion from leaving the kingdom, but high prices in Spain made it a good market for outside products. Spanish industry declined in the 16th century, in part because of the sales taxes imposed by the crown, which necessitated more buying of foreign merchandise. Great quantities of bullion had to be poured out to finance the expensive Spanish European empire and the costly wars and diplomacy of Charles V and Philip II, both of whom were constantly in debt. Price rises followed in other countries, largely from the influx of Spanish bullion. In England, where some statistics are available, costs by 1650 had risen by 250 percent over those of 1500. The European commercial revolution, which brought increased industry, more trade, and larger banks, had begun before the discoveries, but it received stimulus from them. Bullion from America helped create a money economy, replacing the older and largely barter exchange—a trend accentuated by greater European mineral production in the early 16th century. The trade emporiums of Italy and the Baltic Hanseatic League declined and we
PLACE AN ORDER NOW

Price Calculator

Subject:
Type:
Pages/Words:
Single spaced
approx 275 words per page
Urgency:
Level:
Currency:
Total Cost:

12% Discount

image

  • Research Paper Writing
  • Essay Writing
  • Dissertation Writing
  • Thesis Writing

Why Choose Us

image

  • Money Return guarantee
  • Guaranteed Privacy
  • Written by Professionals
  • Paper Written from Scratch
  • Timely Deliveries
  • Free Amendments