After developing customer value-driven marketing strategy, we now take a deeper look at the marketing mix: the tactical tools that marketers use to implement their strategies engage customers and deliver superior customer value. It is all about how companies 

1. develop and manage products, services and brands,
2. effective pricing to harvest (capture) value
3. marketing channel (place)
4. integrated marketing communication(promotion)

Accordingly answer the following questions 

Part I: pricing 

1. Answer the question "What is a price?" and discuss the importance of pricing in today's fast-changing environment.
2. Identify the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.

Part II: marketing channel (delivering customer value) 

1. explain why companies use marketing channels and discuss the functions these channels perform
2. explain how companies select, motivate, and evaluate channel members

part III: marketing communication(promotion)

1. Define the five promotion mix tools for communicating customer value.

Explain the methods for setting the promotion budget and factors that affect the design of the promotion mix.

Answer rating: 100% (QA)

Part I Pricing What is a price Discuss the importance of pricing in todays fastchanging environment Price refers to the amount of money or value that is assigned to a product or service It is the mone... View the full answer