Apple's IPhone Was Originally a Single Model in a Product

question 219

Multiple Choice

Apple's iPhone was originally a single model in a product line targeted at high-end users.However,lower-cost rival smartphones,many of which were powered by Google's Android operating system,soon entered the market.In dealing with competitive offerings,Apple faces

• A)the inability to change prices quickly.
• B)speeding up the diffusion of innovation process.
• C)brand extension confusion.
• D)charging a lower price to gain a foothold in the market.
• E)the challenge of pricing multiple products in an expanding product line.

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Definitions:

Product Innovation

The development of new or significantly improved goods or services to meet consumer needs or market demands.

Functionality

The range of operations that can be performed by a product, system, or service, especially according to user requirements and needs.

Strategic Positioning

The process of establishing and maintaining a sustainable competitive advantage in the market.

Low-Cost Approach

A business or operational strategy focusing on minimizing costs while maintaining quality and efficiency, often to achieve a competitive advantage.