1. There have been several attempts to explain Marvels success via competitive strategy butthey fall flat: competitive strategy, with this specific case, neither predicts nor explains theoutcome. Why?2. If Marvel had spent more to hire top-tier movie stars, well-known directors, and movedforward the Hollywood Way, would the movies have performed better?3. Why do or dont you think Marvel broke the value/cost trade-off?4. Explain the difference between value extraction and value innovation as well as the long-term financial impact of each.