in two hours

1. Before we tackle Virgin Galactic, let's look at this thing called 'price'. When we see price, that is where the "rubber hits the road" and we either reach for our wallets... or DON'T! From your perspective, what does a PRICE represent to the consumer?  What does a PRICE represent to the marketer?

2. Please describe two (2) products or services that you have purchased recently -- one product or service that you feel represented good value for money, and one that did not.  1) What adjustments to the pricing strategy would you recommend to the marketer in relation to the product or service that failed to provide good value? 2) WHY do you feel they charged the price that they did, especially if you felt the price was too high? Be sure that you have thoroughly answered the two questions asked of you.