Explain the relevance/connection of the Article/Source to what you have learned in Chapters 6 & 5.  The connections should come from your ideas based on the class readings, and your 1st Source/Academic Journal Article. The following are just some ideas to get your brain flowing – does the source reinforce and support what you learned in the chapter(s)?  Does the source offer an alternative perspectiv

QUESTION

Discussion Forum Prompt:  Chapters 6 & 5 Open Discussion Forum (ODF)

DISCUSSION POST and FOUR REPLIES to Classmates Directions

POST (100 points) & REPLY to Classmates – 2 Formal (25 each) & 2 Informal (10 each)

ALL PARTS (POST + FOUR REPLIES) REQUIRED TO EARN ANY CREDIT ON THIS ASSIGNMENT!

Before beginning, READ all of these directions!  

I suggest printing yourself a copy and have it in front of you to do the assignment: the POST and FOUR Replies!

I realize this might appear extremely long and daunting!  I did a lot of work to actually make this easier for YOU!  Think of Part 1 of this POST as a fill in the blank (maybe why so long ‘cause I did some prep work for YOU!)  I want you to use the format I have provided so everyone’s POSTS look similar!

POST (100 Points) for ODF for Chapters 6 & 5

This POST has a PART 1 and a PART 2.  Complete all components of each PART!

PART 1 Prep Work….

Prior to writing….and with the directions in mind, locate two credible sources relevant to concepts learned in Chapters 6 & 5.

• One of the sources MUST be a scholarly peer-reviewed research article. (See Announcement for Locating Sources if you do not know how to do this.  You can also go to the CCE or the library.)
• The other can also be another/different scholarly peer-reviewed research article or it can be a credible website, a trade magazine, a book (maybe a textbook from another relevant class?), or even some form of acceptable/appropriate/relevant media.

After you have located and read your two sources, follow these directions and use this FORMAT for the organization/structure of your POST:

PART 1 of the POST:

1. Source 1: Provide the Title and Type (This should say Scholarly Peer-Reviewed Journal Article!)
2.  Summarize the Article/Source (This should be several paragraphs, not a few sentences. Don’t just tell us the topic or what the article is about…tell us what the author says! If you are unsure how to go about doing this, you can just outline the article using the guidelines I have provided within the directions for each chapter outline.
3. Using the 5 W’s test (see handout in Canvas), justify the credibility of the source.
4. Who:
5. What:
6. When:
7. Where:
8. Why:
9. Analyze the article/connect to text. For the analysis, follow these directions:
   1. Explain the relevance/connection of the Article/Source to what you have learned in Chapters 6 & 5.  The connections should come from your ideas based on the class readings, and your 1^st Source/Academic Journal Article. The following are just some ideas to get your brain flowing – does the source reinforce and support what you learned in the chapter(s)?  Does the source offer an alternative perspective?  Does the source reinforce or contradict examples provided in your textbook?  Does the source extend concepts learned in the text?  How?, (NOTE:  THIS SHOULD BE AT LEAST TWO WELL DEVELOPED PARAGRAPHS!!  Remember, a well developed paragraph is at least five well developed meaningful/substantive sentences.  Cite textbook AND your source.)
   2. Explain at least TWO important lessons to be learned/insights that you have gained from the relevance/connections between Textbook and your 1^stIn other words, what are two important lessons/takeaways/insights (aka moral of the story) to be learned/ gained based on what you wrote above in C1. (NOTE:  THIS SHOULD BE AT LEAST TWO WELL DEVELOPED PARAGRAPHS!!  Cite textbook AND your source.)
   3. Source 2: Provide the Title and Type
   4.  Summarize the Article/Source (This should be several paragraphs, not a few sentences. Don’t just tell us the topic or what the article is about…tell us what the author says! Again, if you are unsure what to cover, you can always outline!
   5. Using the 5 W’s test (see handout in Canvas), justify the credibility of the source.
   6. Who:
   7. What:
   8. When:
   9. Where:
   10. Why:
   11. Analyze the article/connect to text. For the analysis, follow these directions:
   12. Explain the relevance/connection of the Article/Source to what you have learned in Chapters 6 & 5.  The connections should come from your ideas based on the class readings, and your 2nd Source. The following are just some ideas to get your brain flowing – does the source reinforce and support what you learned in the chapter(s)?  Does the source offer an alternative perspective?  Does the source reinforce or contradict examples provided in your textbook?  Does the source extend concepts learned in the text?  How?, (NOTE:  THIS SHOULD BE AT LEAST TWO WELL DEVELOPED PARAGRAPHS!!  Remember, a well developed paragraph is at least five well developed meaningful/substantive sentences.  Cite textbook AND your source.)
   13. Explain at least TWO important lessons to be learned/insights that you have gained from the relevance/connections between Textbook and your 2nd Source. In other words, what are two important lessons/takeaways/insights (aka moral of the story) to be learned/ gained based on what you wrote above in C1. (NOTE: THIS SHOULD BE AT LEAST TWO WELL DEVELOPED PARAGRAPHS!!  Cite textbook AND your source.)

PART 2 of the POST:

Using your textbook, chapter outlines, and your two sources you used in Part 1 above, complete the following.  Label each accordingly.

1. Discuss each of the nonverbal codes including terms, defining terms and explaining cultural variations of those codes.  For this, you should be explaining what is covered in your textbook on pages 179-188.
2. Explain at least two situations where you made inaccurate/false assumptions about someone based on their nonverbal communication.  Discuss how the other person communicated nonverbally (make sure to use terms/names of channels, aka “nonverbal codes”!).  Discuss what inaccurate/false assumption you made and why you made that assumption.  (Hint, use information from the chapter!)  What kind of a barrier did you create when you made these inaccurate/false assumptions?  How could you overcome that barrier?
3. Discuss, in depth, the three variations in communication style.  So, you should be explaining what is covered in your textbook on pages 145-148.
4. List the three styles and rate yourself on a scale of 1-10 within each of the three categories.  For example, in the high/low context style are you a 10 for high and 2 for low?   As such, you will have a total of 6 scores.
5. Now, discuss your six scores.  For each score, do three things.  First, explain what cultural upbringing/influence has made you communicate in this way.  Second, illustrate/justify each score with at least two examples from your life.  Third, explain what kinds of barriers and bridges have been created in your relationships with others due to your communication style?  Discuss at least one barrier and one bridge.  Illustrate with specific examples.

ANSWER

“The Role of Pricing Strategy in Achieving Competitive Advantage”

Why is the author writing about the subject?

The author is writing about the subject of pricing strategy because it plays a critical role in achieving competitive advantage in the market. Pricing decisions directly impact a company’s profitability, market positioning, and customer perceptions. The author aims to explore the importance of pricing strategy and its implications for marketers in today’s competitive business environment.

What is the thesis of the article?

The thesis of the article is that pricing strategy is a powerful tool for creating a competitive advantage. It argues that an effective pricing strategy goes beyond simply setting a price; it involves understanding customer value, aligning pricing with marketing objectives, and differentiating from competitors to capture market share and enhance profitability.

What are the key points/facts presented in the article?

Pricing strategy influences customer perception and buying behavior.

Effective pricing strategies consider factors such as costs, competition, and customer value.

Different pricing strategies, such as penetration pricing, skimming pricing, and value-based pricing, have distinct advantages and applications.

Dynamic pricing and personalized pricing techniques enable companies to optimize revenue and respond to market fluctuations.

The article highlights the importance of pricing research and analytics in informing pricing decisions.

What are the conclusions and recommendations?

The article concludes that pricing strategy is a critical component of marketing strategy and can significantly impact a company’s success. It recommends that marketers carefully analyze market conditions, customer preferences, and competitive landscape to develop tailored pricing strategies. It also emphasizes the need for ongoing monitoring and adjustment of pricing strategies to adapt to changing market dynamics.

Explain how the information in the article can inform marketing strategy.

The information presented in the article is essential for marketers in designing a comprehensive marketing strategy. Pricing decisions are interconnected with other elements of the marketing mix, such as product, place, and promotion. Understanding customer value and market dynamics allows marketers to align pricing with the perceived value of the product or service, differentiate from competitors, and effectively target specific customer segments. Additionally, insights on pricing research and analytics enable marketers to make data-driven pricing decisions and optimize revenue generation.

Critique of the article

The article provides valuable insights into the role of pricing strategy in achieving competitive advantage. It presents key concepts and strategies related to pricing and highlights their relevance to marketing strategy. The information is well-structured and supported by examples and research findings. The article is written in a clear and understandable manner, making it accessible to a wide range of readers.

Overall, the article is useful for marketers seeking to enhance their understanding of pricing strategy and its impact on marketing effectiveness. Its recommendations and insights can help marketers make informed pricing decisions and develop competitive marketing strategies. I would recommend this article to others interested in gaining insights into the relationship between pricing strategy and marketing success.