Apple is an example of a Generic Competitive Strategy.
(Apple Is An Example Of A Following Which Of Porter’S Generic Competitive Strategies?)
This strategy consists of two main components: market segmentation and price war.
The market segmentation refers to dividing the target market into two different groups based on certain criteria such as age, gender, location, income level, education level, occupation, etc. Apple is an example of this approach because it has a large customer base that spans multiple continents and geographic regions, making it difficult for any one company to dominate all of them. It also allows companies to tailor their products and services to each individual group, which helps them better serve their customers.
On the other hand, price war involves offering lower prices than competitors to gain market share. Apple has been successful at executing this strategy by taking advantage of the fallacy known as price differentiation. This means creating a gap in the market where customers perceive higher prices as offering more value than their competitors. For example, in recent years, Apple has been able to offer discounts of up to 20% to its customers while the competition still remains at prices similar or even higher. By doing so, Apple has been able to maintain its position as the leading technology brand in the world.
(Apple Is An Example Of A Following Which Of Porter’S Generic Competitive Strategies?)
In conclusion, Apple’s example demonstrates how a generic competitive strategy can be effective in different contexts. It is not about creating a superior product or providing a better customer experience, but rather about finding ways to meet the needs of a specific group of customers, while appealing to others with their own unique set of values and preferences. With the right strategy, companies can achieve long-term success and become the go-to brands for consumers around the world.
