Pick an industry and classify firms according to the 4 different roles they might play: leader, challenger, follower, and Hither. Describe their strategies to gain competitive advantages.
With the help of a diagram, explain the Product Life Cycle (PLC). What are the characteristics of each stage of the cycle and give examples of strategies a company can adopt at each stage of the cycle.
Describe a familiar brand that has been widely extended. What are the benefits and dangers of this specific brand? Explain.
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