How Can i understand this in marketing concepts answer below scenario
Two market segments 1-“Our secondary target market is outdoorsy people within in late 20s to early 40s age range. These customer spend a large portion of their time outdoors adventures whether that be hiking, camping, or anything of the sort. These customers may use the food containers for meal prep with higher disposable income”
Segment 2 “In creating our new line of food containers for Hydro Flask, we will primarily be targeting young college students within the age range of 18-22. These customers have a lower disposable income and use meal prep as a way to save money”
With these scenarios please use marketing concepts to explain what pricing strategies- How will you price your proposed product? Choose between price skimming and penetration pricing approaches and justify your decision based on the factors we discussed in class. Then discuss possible applications of price discrimination or psychological pricing to your product. If you can, use cost- or value-based pricing to come up with plausible price estimates to use in your write-up (explanation or calculations can be included in an appendix
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