1. What strategy should Janet take? 2. Would you rather have a higher-end, more exclusive program or make sure that your fans could get products in all the areas that they desire? 3. Does the university have an obligation to its fan base to provide them with licensed products? 500 Critical Thinking Activity OPPORTUNITY Last night, LeBron James scored 103 points in the Cavaliers game against the Lak- ers, breaking Wilt Chamberlain's long-standing NBA record of 100 points in a single game. Greg Bertoni, the sports buyer at QVC, called to say that he can give you 1 hour of airtime to commemorate the event. Challenge Create seven products. The product mix should include retail price points from $20 to $1500. QVC will mark up the wholesale price 100%. The QVC sales goal is $4000 per minute, or approximately $250,000 for the 1 hour of airtime. Develop a rough profit and loss statement (P&L) for one product. Your target is a 50% profit margin. Include raw materials, labor, league licensing fees of 20%, signa- ture cost of $50 if applicable, and general and administrative expenses of 10%