QUESTION 7 72 points Save Answer Instructions: Carefully read the fictional company background and questions before answering and submitting your exam. Out of the 8 questions below, you will ONLY be answering 6 questions. You will be required to answer all questions in Part A (both questions 1 and 2) and you must answer ONLY 4 questions from Part B. Make sure you write down the number of each question in front of your answer. Each question is worth 12 points. The Rice Bar Company is a producer of microwaveable frozen meals based in New York, which focuses on making a variety of tasty Asian style meals, such as sweet and sour chicken, fried rice, stir-fried noodles, and more. In 2021, the company plans on entering Thailand and launching a new dish product for the Thai market. Due to your experience in the Thai market, you have been hired as senior marketer and asked to develop a marketing mix (4 Ps) strategy for the product that will launch in Thailand next year. Part A - You must answer both questions below: 1. Describe the new product, its unique selling point and the packaging's appearance and function, that you plan to develop for the company. (12 pts) 2. Describe your new product's target market segment using at least three of the following methods: geographic, demographic, psychographic, behavioral, and benefits segmentation. (12 points) Part B. You must answer only 4 out of 6 questions below: 3. Will your product use a family brand or an individual brand naming strategy and why? Give your newly designed product a name based on the naming strategy you selected. (12 points) 4. Provide an example of one fixed cost and one variable cost you will have when producing your new product. You must explain why your examples are fixed and variable costs. (12 points) 5. Will you use a market penetration.pricing or price skimming strategy to set your product's price and why? What will be the price of your newly designed product and why? (12 points) 6. Your company has decied to choose an indirect marketing channel for their distribution (place) strategy. State which intermediaries you will use and why. (12 points) 7. Will you use an intensive, exclusive, or selective distribution strategy and why? (12 points) 8. Your company has given you a small integrated marketing communications (promotion) budget. Your budget is only big enough for three of the below IMC elements and your boss already said one chpice must be advertising. Describe which other two you will pick and how you will use them and why? (12 points) IMC Elements Advertising Public Relations Personal Seling Sales Promotion Direct Marketing Orine Marketing Once you are finished with the exam, make sure to press the SAVE AND SUBMIT button at the bottom right corner of the screen. For the toolbar, press Alt+F10(PC) or ALT+FN+F10 (Mac), BIUS Paragraph AL I so oa se 1 () Arial 10pt ... + O WORDS POWERED BY TINY