Below are the instructions for the group assignment

S. KALRA,Below are the instructions for the group assignment. The assignment is called the “4 P’s ofMarketing”. The group decided to do the assignment on Nike Jordan Shoes. I have beenassigned the price part of the project.Since your team consists of 4 students, you can easily spread the work amongst the 4 P’s, butnote that the grade will reflect the work of the group as a whole. Individual sections will not begraded. Use the Groups tool for your work prior to submission. Each of you must submit aseparate copy of the completed group work for grading.Here are suggested steps in selecting your product or service:• Idea generation-you should perform this individually before meeting with your team. Have atleast two ideas to recommend.• Idea screening-this can be performed in your first group meeting. There is no need to becritical of other ideas, simply decide what works best for the group based on an agreed upon setof criteria which might be based upon members’ background, amount of information available onthe industry in which the product would be marketed, possible industry contacts from teammembers (your close friend works for a company marketing a similar product) and experience inthe industry.• Approval-e-mail your instructor the proposed product or service and include a briefexplanation and possible sources of where your research will be conducted.Product:A full explanation of the product is required. What are the features of the product, what makesthis product different from the other competitors in the industry? What is the value addedproposition, or what problem does this product solve for the target customer. Who is the targetcustomer?Price:What will be the drivers of your pricing decision: Competitive positioning, customer importance,margins? How are you positioning your product? Will your pricing decision for this product bepart of an overall positioning strategy for all of your product lines? Will you use an introductoryprice point to lure customers to try the product?Promotion:Will you focus on push or pull strategies? What will your advertising message be? When youmarket more than one product, how will you decide on how best to allocate your budget acrossyour brands? Will you use social media to promote the product or more traditional forms? Howwill you use public relations to promote the product?Place:Which channels will be your priority? What will be your main drivers for motivating yourchannels to give you prime shelf-space? Will you consider Internet sales directly to theconsumer and how will you handle possible channel conflict that could arise as a result?Your paper should be a minimum of 5 pages in length and must use APA style. The project isdue at the end of this module.