Dan is a very talented and hardworking entrepreneur who always comes up with innovative solutions to problems. Recently, he came up with the idea of a temperature-controlled flask. This flask can heat up and cool down liquids inside it. He realizes that people who work long hours everyday will benefit from this technology.

Dan does not want to waste time on product testing because he thinks the market will accept it. He wants to get into mass production straight away and target the mass market from the beginning. After the product is introduced, Dan feels that the growth rate will sustain for a considerable period of time. Therefore, his company should manufacture 500,000 flasks in the first batch.

As a person who always has one eye towards the future, Dan plans beforehand how this technology will evolve in the market. He anticipates what type of customers he will attract over the lifetime of the flask and competitors that his company will face. As a result, he plans his strategies accordingly.

As Dan's consultant, you are required to do the following:

1. Tell Dan whether he is right or wrong about getting into the market without product testing. If you think he is right, explain. If you think he is wrong, what should he do?
2. Tell Dan whether he is right or wrong about mass production at the beginning. If you think he is right, explain. If you think he is wrong, what should he do?
3. Help Dan understand the types of customers that his company will attract over the lifetime of the flask. What should be Dan's offering strategy for each type of customer?
4. Considering that Dan's company can get to economies of scale, what strategies should Dan use to take competitors when the market gets saturated?