{"id":6079,"date":"2022-04-15T21:33:11","date_gmt":"2022-04-15T21:33:11","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/?post_type=chapter&p=6079"},"modified":"2024-09-30T18:34:52","modified_gmt":"2024-09-30T18:34:52","slug":"module-12-assignment-retail-pricing","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/module-12-assignment-retail-pricing\/","title":{"raw":"Module 12 Assignment: Retail Pricing","rendered":"Module 12 Assignment: Retail Pricing"},"content":{"raw":"Your store has begun making a new meal-replacement drink\u2014it costs $5.00 to produce a 6-pack of drinks (or $0.83.33 per drink). These drinks are being marketed as full meal replacements for individuals who are looking to lose weight. You and a small team have been tasked with pricing this product, as well as proposing the in-store display for its sale.\r\n\r\nFor this assignment, you may work on this alone or together in partnership groups of 2\u20133 students if you choose.\r\n

Part 1<\/h2>\r\nYour task is to propose a price for this new drink product. Take into account the cost of producing the product, the potential cost of transporting the product and marketing the product.\r\n\r\nYour company is trying something new with this product; while the store has sold this type of drink before, this is the first time they have produced such a product. Your company has had success in selling other company-branded food products but having its own branded product will be a new venture.\r\n\r\nWrite a short essay (400 words minimum) outlining your reasoning for the price you choose. Be sure to include the specifics of production, distribution, and marketing. And the calculated profit for the selling such a product and why. Be sure to identify your target market (and why) as well.\r\n

Part 2<\/h2>\r\nOnce your price has been determined, it\u2019s time to decide how you want to display your product in the store to encourage customers to buy it. How will you motivate your target customers to buy this new product?\r\n\r\nProduce a visual aid (diagram, sketch, etc.) preferably using Draw, PowerPoint, Excel, or some other software tool.\u00a0Be sure your submission includes a brief description of the display that explains your rationale based on all the evidence you have acquired. Please include this visual aid and submit it along with your essay.\r\n\r\nInstructional Note:<\/strong>\u00a0You will not be graded on your artistic skills, but rather the ideas behind the display. However, you should still make your proposal and presentation essay as professional as you can!\r\n

Grading Rubric<\/h2>\r\nThis assignment is worth a total of 50 points.\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Grading Rubric<\/caption>\r\n
Criteria<\/th>\r\nNot Evident<\/th>\r\nDeveloping<\/th>\r\nExemplary<\/th>\r\nPoints<\/th>\r\n<\/tr>\r\n<\/thead>\r\n
Provide price for new product<\/td>\r\n0 pts<\/strong>\r\nNo price provided<\/td>\r\n2 pts<\/strong>\r\nPrice does not align with reasoning in the essay<\/td>\r\n5 pts<\/strong>\r\nPrice is provided and aligns with reasoning<\/td>\r\n5 pts<\/td>\r\n<\/tr>\r\n
Turn in short pricing essay<\/td>\r\n0 pts<\/strong>\r\nEssay not provided<\/td>\r\n7 pts<\/strong>\r\nEssay does not adequately describe the process of determining the price<\/td>\r\n15 pts<\/strong>\r\nEssay is no more than 500 words and describes the reasoning behind the determined price<\/td>\r\n15 pts<\/td>\r\n<\/tr>\r\n
Provide visual aid for product display<\/td>\r\n0 pts<\/strong>\r\nNo visual aid provided<\/td>\r\n5 pts<\/strong>\r\nVisual aid does not align with reasoning in the essay<\/td>\r\n10 pts<\/strong>\r\nVisual aid is provided and aligns with reasoning<\/td>\r\n10 pts<\/td>\r\n<\/tr>\r\n
Turn in short display essay<\/td>\r\n0 pts<\/strong>\r\nEssay not provided<\/td>\r\n10 pts<\/strong>\r\nEssay does not adequately describe the process of determining the price<\/td>\r\n20 pts<\/strong>\r\nEssay is no more than 500 words and describes the reasoning behind the determined display<\/td>\r\n20 pts<\/td>\r\n<\/tr>\r\n
Total:<\/strong><\/th>\r\n50 pts<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>","rendered":"

Your store has begun making a new meal-replacement drink\u2014it costs $5.00 to produce a 6-pack of drinks (or $0.83.33 per drink). These drinks are being marketed as full meal replacements for individuals who are looking to lose weight. You and a small team have been tasked with pricing this product, as well as proposing the in-store display for its sale.<\/p>\n

For this assignment, you may work on this alone or together in partnership groups of 2\u20133 students if you choose.<\/p>\n

Part 1<\/h2>\n

Your task is to propose a price for this new drink product. Take into account the cost of producing the product, the potential cost of transporting the product and marketing the product.<\/p>\n

Your company is trying something new with this product; while the store has sold this type of drink before, this is the first time they have produced such a product. Your company has had success in selling other company-branded food products but having its own branded product will be a new venture.<\/p>\n

Write a short essay (400 words minimum) outlining your reasoning for the price you choose. Be sure to include the specifics of production, distribution, and marketing. And the calculated profit for the selling such a product and why. Be sure to identify your target market (and why) as well.<\/p>\n

Part 2<\/h2>\n

Once your price has been determined, it\u2019s time to decide how you want to display your product in the store to encourage customers to buy it. How will you motivate your target customers to buy this new product?<\/p>\n

Produce a visual aid (diagram, sketch, etc.) preferably using Draw, PowerPoint, Excel, or some other software tool.\u00a0Be sure your submission includes a brief description of the display that explains your rationale based on all the evidence you have acquired. Please include this visual aid and submit it along with your essay.<\/p>\n

Instructional Note:<\/strong>\u00a0You will not be graded on your artistic skills, but rather the ideas behind the display. However, you should still make your proposal and presentation essay as professional as you can!<\/p>\n

Grading Rubric<\/h2>\n

This assignment is worth a total of 50 points.<\/p>\n\n\n\n\n\n\n\n\n\n
Grading Rubric<\/caption>\n
Criteria<\/th>\nNot Evident<\/th>\nDeveloping<\/th>\nExemplary<\/th>\nPoints<\/th>\n<\/tr>\n<\/thead>\n
Provide price for new product<\/td>\n0 pts<\/strong>
\nNo price provided<\/td>\n		2 pts<\/strong>
\nPrice does not align with reasoning in the essay<\/td>\n		5 pts<\/strong>
\nPrice is provided and aligns with reasoning<\/td>\n		5 pts<\/td>\n<\/tr>\n
Turn in short pricing essay<\/td>\n0 pts<\/strong>
\nEssay not provided<\/td>\n		7 pts<\/strong>
\nEssay does not adequately describe the process of determining the price<\/td>\n		15 pts<\/strong>
\nEssay is no more than 500 words and describes the reasoning behind the determined price<\/td>\n		15 pts<\/td>\n<\/tr>\n
Provide visual aid for product display<\/td>\n0 pts<\/strong>
\nNo visual aid provided<\/td>\n		5 pts<\/strong>
\nVisual aid does not align with reasoning in the essay<\/td>\n		10 pts<\/strong>
\nVisual aid is provided and aligns with reasoning<\/td>\n		10 pts<\/td>\n<\/tr>\n
Turn in short display essay<\/td>\n0 pts<\/strong>
\nEssay not provided<\/td>\n		10 pts<\/strong>
\nEssay does not adequately describe the process of determining the price<\/td>\n		20 pts<\/strong>
\nEssay is no more than 500 words and describes the reasoning behind the determined display<\/td>\n		20 pts<\/td>\n<\/tr>\n
Total:<\/strong><\/th>\n50 pts<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\t\t\t
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