Address each of the following thoroughly (short/skimpy answers will result in point deduction).
1. Why should functional strategies be addressed after the generic strategies? (4 points)
2. Explain the concepts of both Product and Process R&D. How does the importance of each of these differ when employing a “Low Cost focus” vs. “ Differentiation focus”? (8 points)
3. What is the difference in marketing strategy for a “Low Cost focus” vs. “ Differentiation focus”? Provide examples. (8 points)