You have been hired as the VP of Marketing for Blue Origin, LLC. Jeffrey Bezos, the founder of Blue Origin and also the founder/CEO of Amazon.com, asks you to write a memorandum on how to price space flights for civilians that they plan to introduce in the near future. From your own early research, you discover that a similar company, Virgin Galactic, is already in the civilian spaceflight market and currently charges $250,000 for their version of a space flight. Jeff Bezos, however, tells you that he thinks that Blue Origin’s service will be better than what Virgin Galactic offers, but he is not specific as to why. Conduct your own research and analysis on how Blue Origin should price its space flights. Be sure to include a discussion and your recommendation on pricing strategies for new products (market skimming and market penetration), a discussion of pricing strategies for existing products and your recommendation (cost-based, competition-based, customer-value), and a discussion on the price elasticity of demand and whether you believe demand for this service would be elastic or inelastic and why. This memorandum must conclude with specific pricing and this conclusion must be supported by you analysis in the memorandum. About Blue Origin: Blue Origin, LLC develops rocket-powered vertical takeoff and vertical landing vehicles for access to suborbital and orbital space. The company offers early prototype shepard vehicles, biconic space vehicles, and orbital reusable booster systems. It also provides research and testing services. Blue Origin, LLC was founded in 2000 and is based in Kent, Washington. It has facilities in Kent, Washington; and West Texas.