Reference no: EM131448875

The Company for this assignment is General Mills!

Book for assignment: Kotler, P. & Keller, K. L. (2016). A framework for marketing management. Toronto: Pearson Prentice Hall. Chapter 11: Developing Pricing Strategies and Programs

Here is the question:

1. After reading Chapter 11 of the textbook, go to Khan Academy (https://www.khanacademy.org/) and type "demand" to navigate to a video on the fundamentals of price and demand.
2. Using the company you selected in Workshop One, select a product or service from the company's product offering and respond to the following in your weekly marketing analysis paper:
   1. Evaluate using clear, insightful critical thinking, the organization's pricing plan on this product.
      1. Identify the pricing strategy or strategies that are used.
      2. Compare and contrast the organization's pricing strategy with that of a close competitor. How are they the same? How are they different?
   2. Assume you are the product manager for this same product; the close competitor has just dropped their price 20% on their competing product offering. You are now responsible for setting a new price for this product and writing a new formal price plan. Following the six-step Setting the Price model that starts on page 176 of the course textbook, write a formal price plan using clear, insightful critical thinking.
3. Paper requirements:
   1. Length: five - six pages
   2. Research requirements: 10 research sources. Sources must be credible and from the last five years.
   3. Your paper should use proper spelling, grammar, and APA formatting.