Pricing Considerations

post contains three assignments

Pricing Considerations
Cost of goods sold (COGS) is the cost of the products and/or services sold to customers. In general, a retailer’s cost of goods sold includes the cost from its supplier plus any additional costs necessary to get the merchandise into inventory and ready for sale. For example, assume that a bookstore purchases college textbooks from a publisher. If the bookstore’s cost from the publisher is $80 for a textbook plus $5 in shipping costs, the bookstore reports $85 as a portion of the cost of goods sold.
For this Assignment, you calculate the cost of goods sold for a product. Using these calculations, you then develop a pricing strategy for the product.
To prepare:
Review the online calculator tools provided in this week’s Learning Resources.
Select a product on which to focus for this Assignment. It may be a product that is sold by a company you work for or hope to work for.
Using one of the online calculator tools provided in this week’s Learning Resources, calculate the COGS for the product you selected. Keep in mind that the numbers you use will be hypothetical, but be as realistic as possible when producing these estimates. Use the following guidelines:
Make an educated guess as to what costs would be involved in producing any given number of the product you selected.
Take into account as many costs as you can think of (e.g., manufacturing, shipping, packaging).
Once you have calculated COGS, decide how much you want to mark up the pricing of your product in order to create the best gross margin, aligning with the price that fits your brand.
Think about the following considerations related to your product pricing:
What is the marketing strategy behind the pricing you decided upon?
What is the psychology behind the pricing?
How do you predict customers might view the pricing?
Submit by Day 7 your completed Week 5 Assignment Template in which you do the following in 250–350 words:
Describe the product.
Outline the cost of goods sold and pricing.
Explain the marketing strategy behind the pricing.
Explain the psychology behind the pricing.
Predict how customers might view the pricing.
Support your work with specific citations from the Learning Resources and any additional sources.

2: Devotional

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Learning Activity 1.2: Devotional
Devotional
The devotionals in this course are taken from the book “Where’s God on Monday?” Hopefully the use of this book in the capstone course will tie together many of the discussions you have had in the past regarding Christian business people and the importance of your work in the marketplace. Through the reading of this book and your reflections you may find elements that you will want to integrate into your Week Five Christian business person presentation.

Objectives

• Apply Christian principles in critical thinking and decision making.

Theory and Context
Consider the following thoughts of Mackenzie and Kirkland, “The Bible leaves us with the unmistakable message that right from the beginning of time work is good…But our involvement in work is not simply for our own benefit. God has a job for us – he wants our help in achieving his purposes…Since the Fall we humans have struggled to discover the connection (and therefore significance) between the work we were commissioned to do and God. Because we rebelled against God, the fulfillment and purpose of our work was seriously corrupted. The problem is we yearn to work in partnership God, yet we insist on doing our own thing.”

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Resources
Mackenzie, A., & Kirkland, W. (2015). Where’s God on Monday? Peabody, MA: Hendrickson Publishers Marketing, LLC.
Instructions
1. Read the Introduction and Chapters 1 & 2 of “Where’s God on Monday?” Reflect on your experience with the connection/disconnection of your faith from your work as discussed in these chapters.
2. Post your thoughts on this devotion in the discussion forum titled 1.2 Devotional.

3:Reflection Journal

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Introduction and Purpose of Assignment
Odom writes about achieving goals by working together and supporting others, but this is often not so in the business world, where climbing the corporate ladder is done at the expense of others.

Objectives

• Apply Christian principles in critical thinking and decision making.

Theory and Context
Eccelsiastes 4:9-12 (ESV), “Two are better than one, because they have a good reward for their toil. For if they fall, one will lift up his fellow. But woe to him who is alone when he falls and has not another to lift him up! Again, if two lie together, they keep warm, but how can one keep warm alone? And though a man might prevail against one who is alone, two will withstand him – a threefold cord is not quickly broken.”

Resources
Odom, W. (2011). We work best when we work together. Retrieved from

https://www.cbn.com/spirituallife/devotions/Odum_work_together.aspx

Instructions
1. Read Odom’s thoughts at the link above and consider balancing your individual goals with being the leader God has called you to be.
a. Do you see a conflict, and if so, do you think that is normal?
b. How would you gain a better balance?
2. In a 1-2 page reflection journal, consider your journey through the MBA program and provide personal insights into your reading of the article and the questions above.
3. Submit your exercise to your facilitator as an attachment in the dropbox titled 1.3 Reflection Journal by the end of the week.

Devotional