Question
Based on Market and Consumer review to analysis Apple music - the objective of this section is to become familiar with the consumer and the
Based on Market and Consumer review to analysis Apple music
- the objective of this section is to become familiar with the consumer and the competitive dynamics between brands. When considering the competitive dynamics, most categories have a high number of competitors, therefore you need to identify those competitors that are most relevant to your chosen brand. A great way to find this out is through the quadrant analysis as it will help you understand which brands are targeting the same position. Also, a duplication of the purchase table will highlight which brands share the same consumers. In completing this section, consider the following; A review of the marketing environment and the competitive dynamics within the category. What do the "Four Trends" tell you? Is there a "Challenger" brand in the category Evaluate each brand's positioning (i.e., are they relevant, unique, believable? How many reasons to believe they have?). How does this affect your chosen brand? Remember to use your quadrant analysis for this. How is each brand trying to grow/stay relevant? New products, through the marketing mix, and/or secondary associations? Where are the key competitors in the brand relevance quadrant? And what does this mean for your chosen brand? Review the brand funnel analysis for each key competitor and see if it tells you anything you can capitalise on. Better answers will evaluate and synthesise information from a variety of sources including secondary such as marketing magazines. Provide a description of the consumer. What are their needs and desired benefits? What do they think and feel for each brand in the category? Understanding the means-end chains of consumers will assist with this. Are they loyal to any brand? Are the majority of consumers light or heavy users? The "Four Trends" will help with this. And what does this mean for how your chosen brand must grow?
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