Question: Answer all questions. (Total 100 marks) Question 1 (a) One way a supplier can be successful in their market is to differentiate their product to

Answer all questions. (Total 100 marks) Question

Answer all questions. (Total 100 marks) Question 1 (a) One way a supplier can be successful in their market is to differentiate their product to gain a degree of market power. Appraise what is the main alternative approach to this, and state how it applies to the low-cost business model. (5 marks) (b) Assemble THREE (3) key features of the low-cost business model. (10 marks) (C) With reference to name airlines, explain FIVE (5) main types of low-cost carriers. (10 marks)

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