Case 1 The CEO of a small company located in a 1-tier city of China providing services for elderly people covering 2030 clients is tending to increase the number of those by 50% within two years. They are offering services of quality for a lower price due to lower margins. a)What kind of challenges is the CEO of the pet company facing? b)Does he need to do marketing research? c)If, yes formulate the problem statement and marketing research objective(s) for the CEO of the store. What method of promotion may be appropriate and cost effective 1 ? Defend your choice: - Word of mouth - TV advertisement - Social media ads - Kols