The following question is of the subject Product Strategy. Please advise.

Case $2$

Apple entered the wearable technology market in April $2015$ with the launch of the Apple Watch. Positioned as a multifunctional device, the Apple Watch aimed to seamlessly integrate with other Apple products, emphasizing health and fitness tracking, communication, and personalization. Statista and Euromonitor report that Apple controlled over half of the smartwatch industry's total revenue in $2019$ and shipped $30\mathrm{.}7$ million units of Apple Watch, more than the Swiss watch industry. In $2020,$ its market share in the US went up to $55\%.$ As of Q$22021,$ Apple Watch held $28\%$ of the global smartwatch market share. As of February $2022,$ the Apple Watch has over three$-$quarters of the total smartwatch user base in the US$.$ In the second quarter of $2023,$ Apple sold $8\mathrm{.}1$ million smartwatches for an $18\%$ market share. That's down $3\%$ from the second quarter of $2022$ when Apple sold $8\mathrm{.}4$ million smartwatches and had a $20\%$ market share. Apple employed a holistic marketing approach, leveraging its brand strength and ecosystem. The company highlighted the Apple Watch's design, customizability, and innovative features through engaging advertisements and product placements. Collaborations with fitness influencers and health experts reinforced the watch's utility for active lifestyles. Over the years, Apple continuously refined its smartwatch line by introducing new generations with enhanced health monitoring capabilities, improved processing power, and innovative features like ECG and blood oxygen measurement. Regular software updates expanded the watch's functionality and user experience. Apple adopted a tiered pricing strategy, offering different Apple Watch models at various price points. Introducing the more affordable SE series widened the customer base, while premium editions like the Apple Watch Herms targeted luxury markets. The SE line, introduced by Apple, typically offers many essential features found in the premium models but at a lower price point. This strategy aims to make the Apple Watch more accessible to a broader range of consumers and cater to different budget preferences. The introduction of the SE series is an example of Apple's pricing strategy to diversify its product offerings and capture a broader market share within the smartwatch category. Apple's marketing campaigns highlighted the Apple Watch's transformative impact on health, communication, and personal expression. Globally, the watch experienced robust sales, with strong performances in key markets like the United States, China, and Europe. Strategic retail partnerships and a robust online presence contributed to its widespread adoption.

Questions:

$(2$x$10-20$ Marks$)$

Q$\mathrm{.}1$ As a product manager, suggest various marketing strategies that Apple Smartwatch can adopt it its current product life cycle for sustained customer satisfaction and profit maximization.

Q$\mathrm{.}2$ Recommend any five new categories of product innovations Apple Smartwatch can introduce. Elaborate how Apple can overcome the Innovators Dilemma. Suggest how hooked model can be applied for Apple Smartwatch.