1. Suppose you are a publisher, specialized in university textbooks. You are to introduce a new marketing textbook. You can make it either paperback or hardcover (or both). And you can revise the book in future to make new editions. You realize that students may also buy used books and use old version books as a substitute for the most updated version books. Based on the information above and assuming that there is no competition, you would like to manage your market and maximize your long-term profit.

c) Propose Price and Product strategies/tactics to promote sales and provide justifications (do not discuss on Promotion and Place). (20 points)