QUESTION 4 a. Pricing strategies refer to the use of pricing policies to identify products or services price in the marketplace. It is developed through determining the business's overall marketing objectives and consumer demand. Explain briefly two (2) pricing strategies commonly use in the business. (5 marks) b. Gagafit produce a fitness tracker wristband that allow consumer to monitor their activities and overall health. The company sells the product at RM150 per unit. Cost per unit of the wristband was estimated at RM90 base on full-cost pricing method. The company has a target profit margin of 40% for each unit of wristband. Earlier this year, one of the competitors from China entered the market offering a similar product at a price of 10% below the price offered by Gagafit. i. Determine the target cost to be set by Gagafit in order to remain competitive. ii. (4 marks) Discuss three (3) ways that Gagafit can apply in order to achieve target costs as per your answer in part (b) (i) above. (6 marks) (Total: 15 marks)