NELDA ENTERPRISE (NE) Nelda Enterprise lost their customers to Hugo Enterprise who charges lower prices for their products. NE target market has also been reduced. 1.1.1 Qoute TWO reasons why competition pose a challenge from the scenario above. (2) 1.1.2 Outline other reasons why competition pose a challenge to businesses. (6) 1.1.3 Suggest THREE strategies in which NE can overcome competition in the market. (6) Explain the following interrelationship between the following micro and market environment: 1.2.1 Business and consumer (6) 1.2.2 Business and intermediaries (6) Read the scenario below and answer the questions that follow. KAREENA MANUFACTURERS (KM) Kareena Manufacturers is well known of producing quality products. The management of KM wants to sign a long-time contract with reliable suppliers. 1.3.1 Advise the management of KM on how to have a good relationship with suppliers. Discuss the relationship between the micro and market environments. (6) (8)​