1. When products or services are first introduced into a market, they are often marketed as innovative and sold at a premium price. Once the product or service becomes established in a market, how is it typically positioned to differentiate it from the competition? (5 marks) 2. Elaborate your above answer with an example. Please explain the example. (5 marks) 3. An organization has positioned its product as the lowest priced in the market. What is the rationale for positioning as lowest priced product? (2 marks) Now, it is struggling to maintain this position because of the rising cost of materials. What solutions to this challenge could the organization explore? Please list 2 strategies. (4 marks) Why do you think your strategies will work? (4 marks)