Question

Choose a product w/brand. Identify an appropriate marketing strategy consistent with the product's stage in its product life cycle and the market and competitive conditions it faces (identify information sources,) drawing on Chapters 8, 9, and/or 10 as appropriate. Identify the strategies key competitors are using (identify information sources,) and develop a rationale for the strategy you have chosen. THIS IS A MARKETING QUESTION.

Answer 1

Chosen brand: Apple

Chosen strategy: Apple does not concentrate on increasing sales volume but rather focuses on creating a premium and quality brand for its customers so that they go for repeat demand. Hence their strategy is to focus on smaller target group of customers who want premium product with excellent services rather than different target groups without offering them the unique value proposition that the different customers desire.

Key strategy of competitors: Competitors like Samsung, LG etc focus on increasing sales of their products by selling them to different target group of customers rather than focussing on a smaller target group and offering them unique value proposition.