Hilton is introducing a new hotel brand Signia (upper-upscale hotel), which will focus on high-end meetings and events. The first Signia will open in Chicago in September 2023. You are the marketing director for Signia.

1. Choose and explain briefly the type of pricing strategy you would apply for Signia (5 points).
2. Apply the product-market expansion grid to Signia and explain each stage in the correct order for business growth (10 points).
3. List an example for each stage of the product-market expansion grid and explain how Signia can develop growth strategies (10 points).