Each student will utilize the same company assigned for Assignment #1 to analyze for the purposes of this assignment. For your assigned brand, please choose and specify ONE of the products that they offer that you will use for the focus of this assignment.

Company:hotel Prince albert Inn

(prince albert) saskatchewan

Product:

1. Based on the product's current price, do you think that the company is using a Demand-oriented approach, cost-oriented approach, profit-oriented approach or competition-oriented approach? Justify your answer with further details on the specific pricing strategies being used.

2. Is demand in your product category elastic or inelastic? Explain in your own words what the price elasticity for your product means and use the principles of price sensitivity to support your choice.

3. As part of their distribution strategy, companies must decide if they should pursue an intensive, selective or exclusive distribution. As discussed in relation to the 4Ps matrix, this choice should be made in alignment with other elements of the marketing mix (product, price and promotion) to ensure an optimal strategy.

4. In LO8, on Chapter 12, the textbook studies the product life cycle considerations for promotional programs. Consider your product chosen and explain which stage your group believes the product is current in which promotional activity programs would be most appropriate.

5. Finally, we discussed the different ways that brands leverage social media in their communications strategy. Review the social media channels currently being used by your company and provide the following examples:

1. One post that applies sensory experiences. (Post focusing on visual experience)
2. One post that engages customers socially. (Post encourages interaction with customers)
3. One post that demonstrates how they use social media for industrious purposes. (job posting, customer support content)

If you cannot find a practical example for all examples, provide vour own specific example of how the assigned company could use social media to achieve that goal. Please ensure you include a link/screenshot of each post in vour assianment submission-without this, the accuracy of your response cannot be assessed.