Thursday, February 27, 2020
Strategy of Resisting Unfair Competitor Speech or Presentation
Strategy of Resisting Unfair Competitor - Speech or Presentation Example In addition to the functions which we provide in the I Phone, XYZ has also added a few new functions such as Wi-Fi technology and GPRS system which can attract potential customers. They have also added dedicated keys to music player which would be appealing to the market of customers of the age group between 16 and 22, the segment which is the largest purchaser of our product. A similar product to I phone with additional features and a lower price can be a big threat to the sales of I Phone as we can lose a large market share once this product is launched. Therefore, we need to take considerable steps to maintain the market share of our product and to attract new customers. I brought this issue in the knowledge of our marketing director and asked him to present me a detailed report on the steps which our marketing division can take to cope up with the situation and maintain the market share of I Phone. Yesterday, he presented me with a detailed report with all the proposed marketing strategies which Apple Co. can take to handle the new competition.Ã In the following section, I am presenting the marketing strategies which the marketing director has proposed taking into consideration the 4 Ps of marketing: Marketing directorÃ¢â¬â¢s proposal: I phone is a cell phone designed for the market segment of age group between 16 and 22, that is, high school and college students and belonging to the upper middle and high-income group. This segment is found in locations such as schools, colleges, malls, concerts, and clubs. The segment also uses media such as the internet on daily basis for long hours and spends time on social networking websites. People in this age group highly rely on peers and social groups before making any buying decisions. Moreover, people in this age group are considered as Generation Y and gather a lot of information before making any purchase such as a cell phone as they seek value for money. In order to market the product to this segment, both ATL and BTL marketing activities play an equally important role. This segment, which is known as Generation Y, are very different from the other market segments as they are well informed and look for value for money. They are not influenced a lot by the brand name. X phone, which is a replica of I phone with additional features and a lower price would be able to gather a large market share if we do not take immediate steps to counter their marketing activities. Following is the proposed marketing mix which Apple Co. can use to market I phone under the new conditions. Product: Although I phone contains many innovative features and functions when it was launched, but now that a similar product is coming in the market, we need to make some product improvements in our existing model in order to make it more appealing to teenagers and young adults, who are our main market. By adding new innovative functions to our product, which are better than what X phone is offering, we can still manage to keep or even increase our market share.Ã In order to find new and attractive functions, we would need to make some extensive research and development.