Why are customers willing to pay more for branded products

Please Answer Questions Below
* Each Answers should be more than 300 words.
* Make sure answer all the details in the questions!
* Must use Real industry Examples when needed!!!!!!
* Attached file is an examples for the answers.

1. Why are customers willing to pay more for branded products? Use relevant industry examples to support your argument. After that, explain the kind of branding strategies you would recommend to a hospitality/tourism business that you are familiar with.

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2. Discuss the importance of pricing. Then use real world examples to illustrate your understanding of psychological pricing and discriminatory pricing strategies in a hospitality/tourism business.

3. Explain how to create competitive advantages. Illustrate with an example of a hospitality or tourism business how they targeted one of their markets, differentiated themselves from their competitors in this market to position themselves in the market.

4. Internet has become an effective distribution channel for hospitality and tourism businesses. If you are a Director of Marketing in a large hotel, explain the major benefits and challenges of using Internet as a distribution channel, and discuss the possible use of social media.

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