12. "New competition is not between what companies produce in their factories, but between what they add to their factory output in the form of packaging, services, advertising, customer advice, financing, delivery arrangements, warehousing, and other things that people value." Articulate your views in light of the product level hierarchy citing suitable examples (You can make feasible assumptions). 13. a) b) Evaluate the major pricing strategies that firms may undertake while setting the prices. Identify and discuss the important external and internal factors that affect a firm's pricing decision.