1.Discuss the concept of status consumption with regard to how a marketer might be able to use status to market a specific brand or product type. 2.Discuss the role of materialism and religion in the spread of global consumption or brands. How might materialism and religion help or hinder the spread of a global consumption culture? Identifying random inputs and possible risks in decisionmodels2. Capturing and modelling likely behaviour of random variablesfrom historical data3. Stochastic modelling tools, functions and approaches onspreadsheets4. Monte Carlo simulation5. Simulating random variability in a decision model6. Capturing probabilistic outcomes of multiple random inputsusing Monte Carlo Simulation