Question: Question One (10 marks): Answer the following questions: 1. Explain the difference between an innovative replacement product and an imitative product. Provide an example of

Question One (10 marks): Answer the following

Question One (10 marks): Answer the following questions: 1. Explain the difference between an innovative replacement product and an imitative product. Provide an example of each. (3 marks) 2. Using a product of your choice, describe how a company uses the Total Product concept to differentiate it from competitors. (4 marks) 3. Explain the difference between price penetration and price skimming in detail. Provide an example of each. (3 marks) Question Two (10 marks): You are the Marketing Manager of the global content streaming service Netflix. Answer the following questions: 1. Explain the micro environment of your company. Provide examples to support your answer. (3 marks) 2. What is the difference between mass marketing and segmented marketing? What approach would you take for Netflix? Explain your answer. (3 marks) 3. Describe two examples of secondary research you could use to find out more about online streaming trends. (2 marks) 4. Discuss two legal or ethical factors that you would need to consider in your marketing role. Provide an example of each. (2 marks) Activate Windows Go to Settings to action Question Three (10 marks): 834 AM 2/12/2021

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