Insurance management | Business & Finance homework help
Company A is a major sporting goods retailer that sells a variety of sports apparel and equipment. The company’s strategy should focus on expanding its existing product line to increase revenue and market share. This can be accomplished by introducing new products, revamping older product designs, or partnering with other brands to offer exclusive products. Additionally, the company should take steps to engage customers online through social media campaigns, digital marketing activities, and customer surveys to better understand their needs and preferences. Finally, Company A should strive for greater customer loyalty by offering rewards programs and other incentives for loyal customers.
2. Product B:
Company B is an electronics manufacturer that produces cell phones, laptops, tablets, and home entertainment systems. In order to stand out from competitors in this highly competitive industry, Company B should emphasize product innovation as well as adapting quickly to customer demands in terms of features and design trends. Moreover, the company should invest heavily in research & development activities so they can stay ahead of the curve with regards to technology advancements as well as customer expectations regarding device performance standards. In addition to these strategies, Company B should use direct-to-consumer marketing methods such as email promotions or targeted ads on social media platforms in order to reach potential buyers more effectively than traditional marketing channels like television commercials or print advertising materials do.