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Understand why some products succeed and others fail
Step by step
Solved in 2 steps
- Form a small group and conduct a customer value analysis for competing companies in an industry of your choice. Who are the strong and weak competitors? For the strong competitors, what are their vulnerabilities?How can the company differentiate its goods and/or services from those of its competitors?If you were to practice, what are some ways by which you can increase the market's demand for your products?
- What role does the Product strategy choice play in achieving a competitive advantage?What are the strategic implications for a company whose product is in the decline stage of the life cycle?What products can be bought in your place? Make a list of products. Tabulate them as innovative, replacement and imitative.