PART B: DUE: Wednesday 11 th May, 2016 by close of business for Assignment Minder (KG) and by 11:59 to TURNITIN. NB: 1) The most important thing to remember before you start writing is justification. When you propose a strategy, you need to justify (with research evidence) why it/they is/are your best choice/s. 2) Your marketing tactics for the section 'Product' is the only section related to the 'product development/modification', brand extension or product extension. All other sections in Part B relate to the ORIGNIAL PRODUCT (as per Part A). IV. MARKETING TACTICS (approx. 800 words) These are the marketing mix elements that you should tailor to suit/match your target customers, your company resources and your competition. PRODUCT – While the product is already determined, you can suggest in this section only, product development or branding changes. (Ch: 8-10 text).  As the product is already in the market, you should think about strategies such as either 'product development/modification", OR 'brand extension', OR 'product extension". PRICE – Briefly discuss the 5 C's; decide on whether you will use cost, competitor or value based pricing and JUSTIFY your decision. (WHY?) Are there any other pricing models that might be suitable? Will you offer any incentives? If so, what incentives? (Ch11 text + tutorial discussion and practice will help). After conducting your 5C analysis, you must think about pricing strategy. For example, if your company/product is in a very competitive industry, you might need to consider 'competitor based pricing'. However, if you are a better company/product in the market, you might want to consider 'value based pricing'. You must research these strategies and when is the best time to use the various pricing strategies. DISTRIBUTION – Distribution captures the channel through which the product is delivered to customers. Briefly describe the current marketing channels (supply chain) for your chosen product. Describe its distribution intensity and offer an alternate/complimentary method of distribution. JUSTIFY your recommendation. (Ch. 12 text) If you are happy with the current distribution density, you just need to explain WHY current strategy is the BEST for your product. For example, if your product is a convenience product, then intensive coverage/distribution could be the best as suggested. You must provide EVIDENCE to support your argument. BSD126 MARKETING SEM 1, 2016 CRICOS 00213J PROMOTION – Using the "Objective and Task" method, describe how you would spend AUD $50,000 to help reach your marketing goal. Describe the IMC tool/s you will use, how the money will be spent, and what you expect to achieve. Promotion decisions should be realistic. (suggestions: Ch. 13 text). You might also include the table (Name it appropriately) introduced in tutorials. OBJECTIVE (THIS IS FROM YOUR COMMUNICATION GOAL ) TASK (THESE WILL BE THE TWO MEDIA THAT YOU HAVE CHOSEN) NB: Not necessary to give the exact figures that the particular