Pricing and Creating a Plan

Christina Bowman
American Intercontinental University
Unit 4 Individual Project
MKTG 205 – Principles of Marketing
May 20, 2012

Abstract
This paper will talk about the marketing strategy, the pricing strategy, and the distribution channels of the product Xtra. This will combine everything that has been taught about marketing though out this class.

PRICING and CREATING A PLAN
Introduction
Marketing is to produce and to provide a product or service that consumers want or need. The product that is being marketed here is a laundry detergent Xtra. This will show the final plan of how it will be marketed to the consumers.
Definition of Marketing
The three sources that I used are the Dictionary of Business (2006), Dictionary of Economics (2009), and the Dictionary of Finance and Investment Terms (2006). My definition of marketing is to produce and provide a product or service that consumers want or need based on the 4P’s of marketing.  
Introduction of Product/Service
The product that I chose from the list is laundry detergent. The brand I chose is Xtra. The company that produces this product is Church and Dwight Co INC., they are most recognized for the brand name Arm and Hammer. Based on my definition this company is considered a good marketer. This is based on the fact that they have been around for many years. They make all types of products from house hold items to personal care products (Church & Dwight Co Inc. (CHD) Stock Description , 2011).
Situation Analysis -- Marketing Environment Forces Impacting Product/Service
The first market force is Competitive. Competitive is the fourth environmental force (Kerin, 2011). This type of market force is known as companies competing for the consumers business. Xtra is a laundry detergent that is sold at a lower price. The company that produces this product is Church and Dwight Co INC., they are most recognized for the brand name Arm and Hammer. They make all types of products from house hold items to personal...