Week 4 Discussions: Each part must be at least 200 words.Part 1: The Role of PricingPricing Strategies: Identity three types of pricing strategies. Select a good or service and compare the prices of two different companies associated with the goods or service. Why do different organizations have different pricing strategies for the same good or service?Part 2: Product Development ProcessDo an internet search of the new product development process of any product of your choice, and analyze the process for developing the product. Review the reasons why new products fail and make two specific recommendations to improve the high failure rate of new products.Required ResourcesTextRead the following chapters in Managerial marketing:· Chapter 9: Product and Service Decisions· Chapter 10: Pricing Strategies and Tactics· Chapter 11: Promotions: Integrated Marketing CommunicationArticleAilawadi, K. L. (2013, Jul 21). How companies can get smart about raising prices; marketers too often do precisely the wrong things, alienating customers and getting little return. Here’s how they can do it right. Wall Street Journal (Online). Retrieved from the ProQuest database.Mohammed, R. (2012, Jan 31). J.C. Penney’s risky new pricing strategy. Harvard Business Review. Retrieved from ProquestRecommended ResourcesArticleZiethammer, R. (2006). Forward-looking bidding in online auctions. Journal of Marketing Research, 43, 462-476. Retrieved from EBSCOHost
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