Please provide examples for both.
Problem 1. You own a neighborhood hardware store. An Ace Hardware has just opened in the next block. You need to know what they are pushing, their pricing and how they treat customers to stay in business. How can you learn this information? Can you find a nitch that they don’t cover? How? Is it worth pursuing?
Problem 2. Select a common household product or service. Then select three different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between prices of each and what is the rational? What strategies are being used?