COULD YOU PLEASE ANSWER ALL THE QUESTION GIVEN USING MARKETING CONCEPTS? PLEASE USE THE MARKETING CONCEPTS AND INTERNET, WEBSITES AND JOURNAL ARTICLES AS REFERENCES.

Q1) (a)Your friend is planning to start a new company. Suggest and explain to him any two pricing approaches that he could follow, with suitable examples or illustrations for each.

(b)Could you explain what marketing objectives are achieved using

(i)"premium pricing"

(ii)"Economy pricing" (Value pricing)

(iii)"Penetration pricing"

(iv)"Price Skimming"

Q2)(a)How will an understanding of the various stages of 'The consumer product acquisition process' (steps: motive development, information gathering, proposition evaluation, proposition selection, acquisition/purchase, re-evaluation) will be useful for the following situations: (could you explain each step with providing suitable illustrations for each of the situations given below)

(for each of the given situations could you provide an explanation for each step in the customer acquisition process)

(i)A TV manufacturer like Sony

(ii) A watch manufacturer like Rolex or Seiko

(iii)A perfume manufacturer like Chanel

(iv)FMCG manufacturer like P&G,

(v)A company like Lux who sells hand wash,. Body wash, soap and etc

(b) Could you explain the following and suggest which is the most difficult to change?

(i) Opinions

(ii) Attitudes

(iii) Values