You and your classmates create 24 tapestries to sell at the PTA auction to raise money for your school. In order to pay for the materials you bought to make the tapestries, you need to sell each of the tapestries for $2.75. When transporting the tapestries to the auction, one of your parents accidentally drops five of the tapestries in the street and they are run over by a school bus. What is the new minimum price you need to set for the remaining tapestries in order to pay for the materials

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.