Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Paper on Pricing Strategy for Virtual Business Products
Marketing Strategy is an assignment (Part 2 of the strategic business plan)
Although this assignment is due in Unit 6, you will begin it in Unit 5.
Your virtual team will complete a three-part strategic business planning assignment. In Units 5 and 6, complete Part 2 of this assignment by following the instructions below. Procrastination can hurt your virtual team’s chances of succeeding in this class.
After you finish Part 2 of your strategic business plan, you will be graded on the following Course Outcomes:
MT499-1: Assess information management, planning, and control in the workplace.
After reading the scenario, respond to the Unit 6 requirements.
Scenario:
The angel investors who are helping to fund the growth of your virtual company are eager to see the strategic business plan that your virtual team is putting together. Because you are a virtual company, it is critical that you highlight the
competitive advantages and disadvantages of operating entirely online in your strategic business plan. The strategic business plan must be completed and submitted on time by your virtual team. Your virtual team will record an oral
presentation of your strategic business plan for angel investors in addition to the strategic business plan. Because this strategic business planning project is so important, each member of your virtual team will need to show exceptional
leadership, strategic thinking, creativity, research, communication, professionalism, and time management skills to ensure success.
When a virtual business knows who their target client is, it can forecast sales, estimate expenses, and determine the best way to communicate with those potential customers. The most important part of your virtual business’s strategic business plan is its marketing strategy. The angel investor group is eager to learn more about your marketing capabilities and innovative ideas. Most importantly, you’ll need to thoroughly explain and present your pricing strategy for each virtual
business product. For Part 2 of this strategic business planning process for your virtual business, complete the following requirements:
Part 2 of the Strategic Plan Assignment Requirements:
Determine which issues your virtual business can address and explain how you plan to do so.
Create three distinct virtual business products and describe them.
Create and develop your product’s brand.
For each virtual business product, describe the product life cycle.
Determine whether legal action, such as copyright or patent filings, is required to protect your intellectual property.
Define each virtual business product’s target market.
For each virtual business product, create a value proposition.
Describe how you plan to position your virtual business products in comparison to those of your competitors.
Create an inspirational story that will connect potential clients with your virtual business based on your overall company strategy and product value propositions.
Describe the distribution and logistics of your virtual business’s products. Make a point of describing how you plan to reach out to your target market. Describe the type of placement required to promote your brand and showcase your products to your target market.
Create a promotion strategy for each virtual business product based on the promotion mix.
Describe any key sales activities you’ll employ to develop and maintain your sales pipeline.
Describe the key components of the sales process (i.e., staffing, commissions, and quotas).
Create a digital marketing strategy for your online company.
Create a mockup of your virtual business’s website.
Create a marketing strategy for your virtual company.
Describe how you plan to convert potential customers who have expressed interest into paying customers.
Perform a price comparison for each virtual business product.
Make a pricing strategy for your virtual company’s services.
Paper on Pricing Strategy for Virtual Business Products
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Paper on Pricing Strategy for Virtual Business Products |
Paper on Pricing Strategy for Virtual Business Products