Description Marketing management questions- Answer each question with approximately 150 words (or 2 ...

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Description Marketing management questions- Answer each question with approximately 150 words (or 2 healthy paragraphs) or more to provide the details of the answers. 1. Explain how a company's strengths and weaknesses influence its ability to serve customers and differentiate from competitors. Provide examples using the "company and competitors" components of the 5c framework. 2. Analyse how understanding customer needs and preferences (the 'customers' component of the 5c's) can impact product development and marketing strategy. Use a real-world example to illustrate your answer. 3. Discuss how changes in the microenvironment (the "context" component of the 5c's) such as technological advancements or regulatory shifts can affect a company's marketing strategy. Include specific examples of opportunities or threats that may arise. 4. Discuss how a company can use the concept of the product life cycle to anticipate and mitigate potential challenges in the maturity and decline stages. What strategies can be implemented to extend the life of a product or successfully exit the market? 5. Discuss how the concept of "customer-centric innovation " serves as a hallmark of successful new product development. What are the key challenges in aligning product features with customer needs, and how can companies effectively gather and integrate customer insights throughout the development process? 6.Evaluate the impact of emerging technologies, such as artificial intelligence and marketing automation, on developing and implementing IMC strategies. How can companies use these technologies to enhance engagement and optomoize marketing campaign performance? 7. How can companies use the concept of perceived value to set effective pricing strategies? Analyse how psychological factors and reference pricing influence customer perception of value and willingness to pay for a product. Include examples of pricing tactics that reflect perceived value. 8. Evaluate the implications of value pricing on profitability and market positioning. How can companies balance the need to capture maximum value with the risk of alienating price-sensitive customers? What strategies can be used to segment the market and apply value pricing effectively across different customer groups?