Question: Please go to this article and read about 2 sister brands - Seiko and Grand Seiko: https://www.watchshopping.com/watch-guide/the-differences-between-seiko-and-grand-seiko-watches/ Questions. 1. The 5 key considerations for pricing

Please go to this article and read about 2 sister brands - Seiko and Grand Seiko: https://www.watchshopping.com/watch-guide/the-differences-between-seiko-and-grand-seiko-watches/

Questions.

1. The 5 key considerations for pricing decisions - how they are used to determine pricing strategy (a link is provided)

2. What are the 'pricing objectives' and 'pricing strategies' for Seiko and GrandSeiko (see the wk. 4 reading link: price obj strat penn).

3. Who is the target market for Grand Seiko (see segmentation criteria) - what do they want/desire (i.e., function, high tech, prestige, to fit a certain profile, other)?

4. Which of the positioning approaches are they using - based on our discussion in week 3 (see ppt. slides)? Most brands use more than one. Explain.

5. Why do you think they created this new watch using a new brand name (GrandSeiko)? Explain.

Your role - you will assume the role of marketing consultant; I will be your client. Your job is to help me understand the reason for this new product.

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