FEEDBACK FOR BOTH: 

ONE

One of the most important and complex decisions a firm has to make relates to pricing its products or services (Peter & Donnelly, 2018). In terms of quality and value, our B-12 supplement is within the in-between bracket. This is due to the many brands offering the supplement and the mere fact that there are so many options to consume the product.

While some manufacturers focus on injecting, chewing or swallowing, our product focuses on gummies and chewable. For instance, 1st Phorm offers the B-12 supplement in capsule form. Due to their high volume in brand awareness it may be tough competing with them. According to 1st Phorm, "From supporting energy production from food and helping to boost mood, to supporting cognitive function and boosting resiliency, the eight different B vitamins included in 1st Phorm's B-Complex play a significant role (1st Phorm, 2023)". Their B-12 supplement is priced at $29.99. Our brand's image will associate the B-12 supplement with premium characteristics, giving people more reason to buy. Customers will have the option to purchase FNX's B-12 supplement in gummy form or chewable with two different quantities 30-day supply or 60-day supply at $12.99 and $20.99, with the flavor of mixed fruit. 

 Psychological factors have a significant effect on the success of a pricing strategy and ultimately on marketing strategy, answers to the preceding questions may require considerable marketing research (Peter & Donnelly, 2018). Using odd pricing will essentially attract customers into thinking they are paying less for the item. This will work best on our product due to the large market in B-12 supplements and many different prices and options within the vitamin categories.

TWO

Brand equity and brand images are two key concepts in brand management, but they are often confused or used interchangeably (Linkedin, 2023). Brand equity is the value of your brand in the eyes of your customers, stakeholders, and the market (Linkedin 2023). Brand image is the impression that your brand creates in the minds of your customers and potential customers (Linkedin 2023). 

Our pocket driver is equipped with almost every imaginable tool, organized and optimized for compact function (GearLab 2023). I think our product is more on the high end, if you looking for a multi-tool you can take anywhere, and d o almost anything you will consider buying our pocket driver. You can customize your tool for many hard-working people, and travelers. Great this is the pocket driver is a U.S.-sourced material. We don't source from or outsourced to other countries, including the metals and packaging. Going rate pricing will be the pricing scheme we will use. Going rate pricing is pricing a product at the average charged in the industry (Peter, Donnelly 2018). This pricing scheme is best for our target market because the majority of Leatherman multi-tools started at a $25 price target but now is equivalent to $113 today. Our final price could start at $35 up to $200. The reason is because of the certain multi-tool you will need, some tool is lightweight and locks smoothly with one hand, and there are some just larger.