solution

The product here choosen is Apple.

Strategic thurst options used by Apple –

• Market penetration:

This strategy can be used to take the existing product in the existing market and to attempt increased penetration. Existing customers may become more brand loyal and/or new customers in the same market may begin to buy the brand. Other tactics to increase penetration include getting existing customers to use the brand more often and to use a greater quantity when they use it. The latter tactic would also have the effect of expanding the market.

• Product development:

This strategy involves increasing sales by improving present products or developing new products for current markets. Apple introducing fingerprint for the first time, is an example of a product development strategy. By improving style, development and comfort, the aim is to gain higher sales and market share among its present market .

• Entry into new markets:

This strategy occurs when new products are developed for new markets. This is the most risky strategy but may be necessary when a companys current products and markets offer few prospects for future growth. When there is synergy between the existing and new products, this strategy is more likely to work. For example, Apples experience and competences in computer electronics provided the platform for designing a new product, the iPod, targeting a different market: young people who want downloadable music on a portable music player.

• The final strategic thrust apple can use is Synergy:

Synergy reflects the organization’s ability to perform more work in less time and with fewer resources. Apple’s synergy is a measure of how well the employees cooperate with one another. Cooperative cultures allow for the design of a flexible methodology that will take advantage of continuous improvement opportunities.

Question 2: (25 marks) 300 words

There are six influences on consumer behavior as follows: Information processing, Motivation, Beliefs and attitudes, Personality, Lifestyle and Life-cycle & age. Apply these six influences on yourself on a product or service of your choice that you wish to purchase. Start by briefly explaining the product/service.