Within your CLC, choose a publicly traded company and identify one of its products that the group will analyze. Describe the strategic implications that would need to be considered in setting a price for that product, and determine whether the group would use a market-based pricing approach or a cost-based pricing approach to setting the product price. Explain the rationale behind choosing the pricing approach. Identify the costs that the group thinks would be considered in setting the product price, and come up with a sample cost structure for the product (make it as realistic as possible). Calculate a price for the product, and defend your product price and related cost structure.
Present your responses in a paper of 1,000-1,500 words.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.
We summerized as a team the following:
The assignment is a bit vague in my opinion in that there is not a rubric to guide us. I read the assignment and tried to break it down into requirements. This is what I came up with.
The assignment is that we:
1) Choose a publicly traded company and identify one of its products to analyze
2) Describe the strategic implications that would need to be considered in setting a price for that product
3) Determine whether the group would use a market-based pricing approach or a cost-based pricing approach to setting the product price
4) Explain the rationale behind choosing the pricing approach
5) Identify the costs that the group thinks would be considered in setting the product price
6) Come up with a sample cost structure for the product (make it as realistic as possible)
7) Calculate a price for the product
8) Defend your product price and related cost structure
An abstract is not required however, it is required to be in APA format.
Product: Monster Energy Drink
Corporation: Monster Beverage Corporation
Nasdaq Company Code: MNST
Websites that may help:
http://marketrealist.com/2015/01/overview-monster-beverage-corporation/
http://www.businessinsider.com/the-marketing-strategy-this-energy-drink-used-to-take-on-red-bull-and-become-a-billion-dollar-brand-2012-2
A Monster of an Idea
My Two paragraphs i need to touch base on for the topic selected above are:
Market-Based or Cost-Based approach and why
Identify costs that the group thinks would be considered in setting product price
