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There are two products: Leica M9 digital rangefinder camera that lists at $7,000.00 (body only) and the Canon G10 digital point and shoot camera that...
There are two products: Leica M9 digital rangefinder camera that lists at $7,000.00 (body only) and the Canon G10 digital point and shoot camera that lists at $300.00. These two products do the same thing for most people – each takes a pretty good digital photo that can be enlarged to 8x10 inches with very good resolution and color saturation.The OBJECTIVE characteristics of each camera are as follows:c. prestige d. price7k0.3kThe SUBJECTIVE valuations of two consumer groups for each of these characteristics are:d. price-0.5Not--1With these objective characteristics and subjective valuations for each group for each product, calculate the net utility value number for a Leica M9 and a CanonG10 for the Rich and the No-so-rich.Given your results for the utility of each group, what do you think would be the proper strategy with respect to advertisements that differentiate and explain each product in order to maximize sales of each?
