(revenue management course)

After reading Chapter 3, please answer/discuss the following questions in the same order that they appear. You should not repeat the question before your answer but you must include the question number. 1) Product quality, service, and price were the three factors identified as being major determinants of a customer's perception of value. Considering both the revised buyer's view of value formula AND the four alternative value formulas suggested by Milton and Rose Friedman, contrast the value formula you would use if: A: You were interested in purchasing a lunch that you needed to consume in ten minutes and B: You wanted to enjoy a leisurely dinner with someone with whom you are romantically involved. 2) Would the manner in which you evaluate value remain constant? 3) What are the implications of your answer to RMs in the hospitality industry