Answer 1A: A flying car is considered to be performing dual operations and functions viz. one is like a usual and normal car and the other one is of an airplane. That is, it is a car that can fly in the air just like an airplane. Flying cars would be higher as compared to the price of a normal car. It would be priced approximately $80000 to $100000 depending upon the brand, functionality and comfortability of the car. Answer 1B: The target customers would be high-class income earners and entrepreneurs who are having sufficient income to afford the price range of $80000 to $100000 and who are willing to spend that much amount on the car. Answer 1C: A flying car would help the target customers in fulfilling their desire to earn a personal jet but could not afford the one or are not willing to buy for the reason that it is needed to be parked and placed at the airport rather than their home. For such customers, the flying car would be a great option. Answer ID: This car would serve the dual purpose of riding on roads and flying in the air. This unique feature is sufficient to address the competition of the industry. Moreover, the price of this car is much less than a personal jet. This will add up to the cost leadership for the company. Since the product is a differentiated one, it would attract the customers easily, this would increase the value proposition of the product. Answer 2 A: The name of the company is Amazing flying Car Company Answer 2 B: The company will be headquartered in Minnesota, USA and its branches or strategic business units will be located across various metropolitan cities of the world. This will be done in order to ensure that the business gets expanded all over the world and that a high level of brand awareness may be created by making the flying car available for any customers across the world. It will be located in the USA because of easier rules allocated for businesses and the amount of population over Canada. Furthermore, the USA has a higher rate of millionaires than Canada. Answer 2 C: The skills that would be required to staff the organization include the technical knowledge related to mechanical and aeronautics engineering so as to find the potential candidate. Unless the interviewer has the technical knowledge, he cannot appropriately judge which candidate would be better and appropriate for the company. The technical expertise of the new hires can only be identified by the technical persons. Answer 2 D: The product would be sold through two ways viz. in one way, the company will provide the dealership right to the businesses that are reputed in the market and that has a good and loyal customer base and the company will also sell its products by receiving the orders from the customers on its website. Through dealerships, the company will be able to reach each and every customer that is located in any part of the world. Through online orders, the company will be able to ship the product directly to the customers where there are no dealers available for the customers to purchase the product. Answer 2 E: The marketing channel that would be used extensively is a social media platform. It will be used because of its advantage that large numbers of customers are present on the social media platform and it helps in creating buzz marketing through the word of mouth. The social group is the influence buyers and the platform gives more brand awareness for the product. Moreover, the cost of marketing the product over the internet is highly minimum and the scope of marketing is very high customer base and the company will also sell its products by receiving the orders from the customers on its website. Through dealerships, the company will be able to reach each and every customer that is located in any part of the world. Through online orders, the company will be able to ship the product directly to the customers where there are no dealers available for the customers to purchase the product. Answer 2 E: The marketing channel that would be used extensively is a social media platform. It will be used because of its advantage that large numbers of customers are present on the social media platform and it helps in creating buzz marketing through the word of mouth. The social group is the influence buyers and the platform gives more brand awareness for the product. Moreover, the cost of marketing the product over the internet is highly minimum and the scope of marketing is very high For this exam, you are going to continue building the Business Plan for the company you started on the MIDTERM EXAM!!!!! Using the company you created on your MIDTERM, answer the following three questions (starting on the next page). You may use as much space as you like, but I would expect 2-3 pages minimum per question response. Please include a title page and prepare your responses in a separate document that you upload as a PDF like your assignment submissions. The exam is out of 100 marks: Question 1: 35 marks Question 2: 20 marks Question 3: 35 marks Grammar, structure, spelling and organization: 10 marks Page 2 1. Provide a thorough SWOT analysis for your company (35 Marks). Be sure to explain your thinking and rationale for your choices. 2. Prepare a number of SMART goals for your company's business (20 marks). Be sure to provide as many goals as are required to achieve success in the next 1-3 years. 3. Prepare a detailed Marketing Mix (The 4Ps) for your company (35 Marks). Be sure to explain your thinking