1. What is your understanding and definition of a Utility Patent and a Design Patent and give an example of each of these patents and how they are used? Why are these patents so important that many entrepreneurs that appear on Shark Tank are questioned about them?
2. Briefly discuss the impact of the ever-changing marketplace on marketing research.
3. Determine which strategic approach ( Low cost provider strategy, broad differentiation strategy, focused low-cost strategy, focused differentiation strategy and best-cost provider strategy) is being implemented by the following organizations. Provide 3 examples for each organization that shows how they exhibit this strategy.
-Kirkland
-Marshalls
-IKEA
-Trader Joe's
-Starbucks