I'm working on a business question and need an explanation and answer to help me learn.

Please answer the following questions below.

1) JC Penny, the discount retailer, changed its strategy from high-low(promotional) pricing strategy to an everyday low prices (EDLP) pricing strategy. Discuss the differences between a High-low and EDLP pricing strategy and the impact of this change on the capabilities of JC Penny to forecast demand.

2) According to Michael Porter, barriers to entry are an important consideration when determining industries in which to operate. Would you expect an industry with high barriers to have high or low profitability? Why? Use the pharmaceutical industry and the retail gasoline industry to illustrate your answer.

3) Suppose a company is planning to switch from a centralized distribution system to a decentralized distribution system. Discuss how these systems differ and the major cost trade-offs that will be faced by the supply chain manager.

4) Discuss why retail chains (such as Walmart) use distribution centers to support cost leadership strategies. What are the cost advantages and disadvantages of using distribution centers, compared to suppliers delivering directly to stores?

5) Use resource-based view (RBV) theory to discuss why Walmart has had difficulty replicating its success in the US in foreign markets. What resources are lacking in foreign markets?

6) In a contract between a buyer and a supplier, what information will a supplier try to keep confidential? Using the ready made garmet (RMG) case as an example, define “open costing” and discuss how open costing contracts reduce information asymmetry. (The case is attached below)