Marketing Manager Discussion Essay Assignment

Marketing Manager Discussion Essay Assignment

Order ID	53563633773
Type	Essay
Writer Level	Masters
Style	APA
Sources/References	4
Perfect Number of Pages to Order	5-10 Pages

Description/Paper Instructions

Marketing Manager Discussion Essay Assignment

Description

Main Question:

A Managed Care Organization marketing manager reduced the MCO’s premium by 10 percent and saw a 20 percent increase in the number of subscribers. He then thought that if the premium was reduced by another 20 percent, he would see a 40 percent increase. What is your analysis of this reasoning?

A reply of 450 words required for below student post. students must support their assertions with at least 2 peer reviewed citation. one course text citation, and one biblical principle. Should be in APA format.

Student Response:

In the scenario given, as the premium is lowered by 10 percent, the company sees an additional 20 percent increase in the number of subscribers. As a result of this occurring, the marketing manager decides to

lower the premium by another 20 percent and hopes the total number of subscribers will jump to 40 percent. This is an interesting tactic displayed by the manager and is sometimes an enticing strategy if the

customer base acts as expected. The manager is essentially trying to test the price point and how much it can fluctuate while benefiting the company on the receiving end. With this factor, the company will try to

reduce the price that is associated with a product or service offered, so the demand will increase as customers are encouraged to buy the product. More customers are attracted to the product due to the attractive

price point created by the marketing manager (Berkowitz, 2017). A significant price change is usually followed by a significant change in demand for the product. This can either benefit companies and provide more

revenue or hurt them if customers do not pursue the product (Mishra et al., 2017). This is due to an inverse relation of the price and product relationship, proving that if the price of a product/service changes, the

demand will do the same. Consumers of a product are always seeking discounts or more or less money which gives businesses a great opportunity to generate revenue. The same concept applies in this scenario

and is a smart move by the marketing manager. Price elasticity is a crucial indicator of what marketing tactics can benefit the company, toying with the price will show analysts if the demand rises. The same can be

applied to raising the price of a service/product, which is usually within the health care system (Mishra et al., 2017). This can cause patients to seek health care from other facilities or possibly not seek help at all due

to rising costs. Marketing managers must assess these factors when raising/lowering the price of any health services and carefully observe how the selected population reacts. Pricing standards are a growing

concern within health care and facilities should continue to monitor how expensive their services are compared to the local population’s median salary. Facilities can also apply discounts for select services and

experience a higher volume of patients, due to the lower price presented. Marketing Manager Discussion Essay Assignment

Biblical Integration

As health professionals, we should always be seeking alternative ways for patients to save money. Medical expenses can be burdensome and in some scenarios ruin peoples’ lives. Insurance companies should continue to lower premiums and give all citizens a fair chance at affordable health coverage. Equality is imperative for a better nationwide health system. The book of Proverbs states, “The rich and the poor meet together; the Lord is the maker of them all” (New King James version, 2006, Proverbs 22:2). Marketing Manager Discussion Essay Assignment

                                                                                                    References

Berkowitz, E. (2017). Essentials of health care marketing (4th ed.). Jones & Bartlett Learning.

Mishra, B. K., Prasad, A., Srinivasan, D., & ElHafsi, M. (2017). Pricing and capacity planning for product-line expansion and reduction. International Journal of Production Research, 55(18), 5502-5519. https://doi.org/10.1080/00207543.2017.1323132

New King James Bible. (2006). Thomas Nelson, Inc. (Original work published 1982)

Marketing Manager Discussion Essay Assignment

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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