What has been Apple’s pricing strategy throughout its products’ life cycles? If you made an Apple...
What has been Apple’s pricing strategy throughout its products’ life cycles? If you made an Apple Watch copycat product, what would your price have to be in order to compete successfully?
Homework Answers
Answer
✓ apple uses a premium pricing strategies based on the units of product it provide for the customers. It enjoys price power and high pricing advantage due to the innovation it brings in its devices, popularity it has gained through out the world, and the image apple products have globally. The product differentiation and an effective positioning make it possible to charge higher prices on its products.
✓ if I made an Apple watch copy cat Product, I would charge relatively low price than apple, but will ensure the quality and functional specifications are matching the original Apple watch. If I can provide those features and similar quality, with a lesser price I can gain good market. And if it's a copy but, not upto the orogorig product, I have to set the price low to penetrate in the market.
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