1. Identify and explain which concept is followed by the examples below? Explain along with logical explanation. (7*2= 14 marks) a. Disney found that some of its patrons really disliked waiting in lines. In response, Disney began offering FastPass at a premium price, which allows patrons to avoid standing in long lines waiting for attractions. b. Apple is one of the world's largest tech companies and it falls under the category of top 5 tech companies of the world. iPhone, TV, Store, Music, Videos, and iPad are some of the main products of Apple. The company also focuses on delivering a quality product. The customer market of Apple doesn't care about the price. c. Costco offers extremely low prices on goods that are readily available. Purchasing a product from this store is all about being able to take advantage of bulk deals- if you're not buying everything in bulk, then you are just wasting your own time. d. Henry Ford wanted to perfect the process of manufacturing of Ford Model-T, which came into the market in the year 1908. The initial cost of the Ford Model-T vehicle was roundabout 800 US dollars, and it was high at the beginning of the 20th century. The company followed and initiated some strategies for its assembly line and other manufacturing processes for which the price jumped from $800 to $300 and $300 was an affordable price to many Americans at that time. e. Nike is a sneaker business that somehow became the world's largest sports footwear and apparel company, one of the top brands in the world, and a $48 billion S&P 500 component. How? There are various reasons and among them, some are: the swoosh logo, "word of foot" advertising, it knows what the target market wants, and, of course, sponsoring athletes. We can guess, Nike Just Did It. f. Door to door sellers pay a visit to everybody's house and try to sell routine items. They follow the idea that their product would be the need of everyone and they try to convince everyone. g. Adidas makes over 400 million pairs of shoes every year. Manufacturing that many shoes requires a lot of resources. But constantly creating new materials isn't great for the environment. So Adidas is turning to a different source. In 2019, Adidas expects to make 11 million pairs of shoes with recycled ocean plastic. That's more than double what it made in 2018. Adidas says the partnership has prevented 2,810 tons of plastic from reaching the oceans. Examples Concepts followed Explanation a. Disney b. Apple c. Costco d. Ford Model-T e. Nike f. Door to door selling g. Adidas