MKT501 ASSIGNMENT 1 SOLUTION 2021 | MKT501 ASSIGNMENT 1 FALL 2021 | MKT501 ASSIGNMENT 1 2021 | MARKETING MANAGEMENT | VuTech
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Scenario:
The mobile phone market in Pakistan has really developed in the previous two decades or so. The boom in the mobile phone market has seen quite some new companies entering Pakistan with their product offerings and the market has seen some tough competition not only in Pakistan but across the globe. Chinese mobiles have also changed the landscape of mobile phone market shares. In the Pakistani market (according to the current statistics) almost 23.38% of the market share rests with Samsung, thus it has a substantial market share along with wide distribution as well as a variety of products and consistently available newer products. Samsung is followed by Oppo and Vivo which hold the second highest market shares in the Pakistani market with 13.41% and 12.01 respectively, which is consistently on the rise as well. Even though the difference in market shares of Samsung as compared to Oppo and Vivo is significant however Samsung is facing a huge decrease in its market share due to the rising shares of its competitors. Infinix is another prominent name in the market as well, recently crossing Huawei and some other prominent companies; however, they have comparatively less market share 10.32%, and spend less on their R&D while not getting into any head-on battle with the market giants. Apple being very popular in America and some other developed markets concentrate on a selected few target markets in Pakistan. They have narrow market segments with a tailored marketing mix for those segments.
Requirements:
Question No. 1
As per the provided scenario, identify the types of market dominance strategy being followed by the following companies (only mention the strategy name in front of the company name in the answer; avoid unnecessary details):
- Samsung
- Oppo
- Vivo
- Infinix
- Apple
Answer:
|
Samsung |
Leader |
|
Oppo |
Challenger |
|
Vivo |
Follower |
|
Infinix |
Follower |
|
Apple |
Nicher |
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Question No. 2
Provide any four characteristics of a successful ‘Market Follower.
Answer:
- Adapter is a white collared market follower strategy. Automobiles use the adaptation form of market follower strategy.
- Imitation is the best form of flattery. Imitators make use of your hard-earned brand equity and give a product which has the same characteristics.
- There is a silver lining between an imitator and a cloner. Cloning makes advantage of the top brands and makes same to same products.
- The best example of Counterfeiter is selling the originals via piracy. Where cloning involves manufacturing of slightly altered products, counterfeiting involves thieving and is a black market follower strategy.
- Minimal risk of competitive attacks.
- Minimizing the cost of market and technological research.
- This type of company never challenge the leader.
- No risk of bad business model.
- No need to educate customers about the product because innovators have already done.