28 Aug BOOK:Principles of Marketing, 15th Edition,Philip T Kotler,

BOOK:Principles of Marketing, 15th Edition,Philip T Kotler, Gary Armstrong This week we will study Chapter 8, 9, 10, 11: Product, Services and Barnds ; New Product development and Product Life-Cycle Strategies ; Pricing Products and S trategies.Study these chapters and answer the following questions.1. Describe the difference between product and service. What is ESPN selling? Discuss this in terms of the core benefit, actual product, and augmented product levels of ESPN.2. Expalin why brand equity is important to the seller. Does ESPN have strong brand equity? How does its brand equity relate to its brand value?3. Assume the company expects to sell 300 million ounces of M&M Premiums within the first year after introduction but expects that half of those sales will come from buyers who would normally purchase M&M regular candies (that is, cannibalized sales). Assuming the sales of regular M&M candies are normally 1 billion ounces per year and that the company will incur an increase in fixed costs of $5 million during the first year of production for M&M Premiums, will the new product be profitable for the company? Refer to the discussion of cannibalization in Appendix 2: Marketing by the Numbers for an explanation regarding how to conduct this analysis.4. When introducing new products, some manufacturers set a high initial price and then reduce price later. However, reducing price also reduces contribution margins, which in turn impacts profitability. To be profitable, the reduced price must sufficiently increase sales. For example, a company with a contribution margin of 30 percent on sales of $60,000,000 realizes a total contribution to fixed costs and profits of $18 million ($60 million x 0.30 = $18 million). If this company decreases price, the contribution margin will also decrease. So to maintain or increase profitability, the price reduction must increase sales considerably.5. 1. Refer to Appendix 2, Marketing by the Numbers, and calculate the new contribution margin for the company discussed above if it reduces price by 10 percent. Assume that unit variable costs are $70 and the original price was $100.5. 2. What level of total sales must a company capture at the new price to maintain the same level of total contribution as before the price reduction (that is, total contribution = $18 million) ?This assignment includes a plagiarism checker. Please, check carefully the originality of your submission. Cite Academic references dfrom the FNU library data base to support your answers in both within the text and in the references part as mandated by APA style. The instructor will not accept more than 5% of similarity with external sources in the content of the document without being cited; otherwise, your work will be considered invalid. Do not include questions in the document to be ssubmitted, only answers. If you have any question, contact your instructor.FNU Database link.Hello, everyoneThis is the FNU Database link to properly access and submit your three (3) professional journals which is a requirement for the Research paper on your Reference page.Please, go to the link above to access the direct link!Go to the link above to go to the FNU database link. (https://proxy.lirn.net/)Add the school name: Florida National University, then click on the LIRN portal below.Next, enter the school user name: 24439and the school password: smartlearn39Then scroll down and search for the Psychology group/category.Next, go to ProQuest Central or Psychology Database to search for you topic on the search bar and then click on full text to get the full information pages.Finally, you will be able to choose 3 journals of the all the available articles to provide your 3 journals for the paper.Go to ‘Cite’ to find the reference information for the article you are reviewing. This article reference info can be copied and pasted on the Reference page for your paper.