FORMATIVE ASSESSMENT $2[100$ MARKS$]$Read the scenario below and answer ALL the questionsShoprite's foray into fashionIn the first quarter of $2023,$ the Shoprite Group announced entry into the clothing retail business when they launched a new clothing brand UNIQ, and opened the doors to its first standalone fashion store in one of South Africas major city. To date, the positioning of the UNIQ brand remains verge and obsequie. Although sales are increasing steadily, management is not happy that their rand does not resonate with any particular market segment. You are now invited to provide advice on how to position the new UNIQ brand and ensure spontaneous growth.Question $1(25$ Marks$)$Shoprite Holdings is already a diversified brand offering before the addition of UNIQ. Utilise the Ansoff Model to assess Shoprite Holdings recent expansion drive.Question $2(25$ Marks$)$The media stated that the UNIQ brand caters to the whole family yet marketing practitioners claim that A product for everybody is a product for nobody.Analyse the foregoing statement, before demonstrating how to perform a segmentation, targeting and positioning $($STP$)$ process. Suggest suitable target segment$/$s or target market$/$s for the UNIQ brand.Question $3(25$ Marks$)$Marketers usually introduce a new offering to the market using a market penetration or a market skimming pricing strategy; a situation not clear for the new brand.Fully examine the two market$-$entry pricing strategies and advise Shoprite Holdings management if the UNIQ brand adopted any one of the two strategies.Question $4(25$ Marks$)$Coming up with a brand name is a rigorous exercise. Organisations spend time and money before they can settle on a specific brand name$\mathrm{.}4\mathrm{.}1$ Withtheforegoingstatementinmind,appraisefive$(5)$keybrand$-$nameselectionconsiderationstobeable $(13$ to judge if UNIQ was a well thought out name. Marks$)4\mathrm{.}2$ International brands seem to possess similar characteristics. Discuss six $(6)$ characteristics of a good $(12$ brand name with reference to UNIQ. Marks$)$