03 Nov To answer the following questions, no reference is
To answer the following questions, no reference is needed.1. Apply the four I’s framework: idea, invention, innovation, and imitation to describe the wet shaving industry in the United States over the past 100 years.2. What market opening did entrepreneurs, such as Michael Dubin with Dollar Shave Club, use to enter the industry? How did they enter the industry? What type of innovation did they use, and why were they successful?3. Why did Unilever offer $1 billion (in cash!) for Dollar Shave Club?4. At what juncture of the industry life cycle is the razor-blazed industry situated? Explain your answer.