Discussion: The Strategy Behind Your Favorite Product Preparation Think about a product or service you really love-something that you've recommended to your friends or family, or that you'd get excited talking about to a stranger at the bus stop. Maybe it's LaCroix soft drinks, your most comfortable pair of shoes, the double-chocolate muffin at your favorite bakery, or the convenient rides you get through your Lyft app. With that product or service in mind, think about the business strategy behind it. Conduct research on the business, gathering as much information about its strategy as possible: visit its website, search for news stories talking about the product or service, and search social media for mentions of the business. While you won't be able to learn everything about a business's strategy that an insider would know, you should be able to get a general idea of how the business operates and what the industry environment is like. For Discussion Choose ONE of the following questions to respond to in your initial post. I Picked the Pandora bracelet Identify the business's main competitors. Explain how the business differentiates its product or service from those competitors' offerings. Identify its competitive advantage. Do you think the advantage is sustainable? Why or why not? Conduct a customer analysis of the business's product or service. Your analysis should include ALL of the following: Identify the target customer. Is this customer base growing or is it decreasing? What are the customer demographics (age, income, location, gender, politics, etc.)? What is the revenue of these customers? How much discretionary income do they have? Understand the specific customer needs. Why do they buy certain brands? How do make their purchasing decisions? Do they purchase in person or online? Show if and how the product or service you chose meets those needs