Reflective Journal Essay

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LB5215 – Strategy and Leadership Poster/Multimedia Reflective Journal Lecturer: Dr. Adrian Bradshaw Tran Thi Phuc Thuan 12974676 Date of submission: 5 September 2014 Our team chooses smartphone industry in Singapore for building poster. The product is Philips Fluid Smartphone – which has an innovative and unique design with the screen can wrap around. This smartphone has very long battery life and even can measure the heart rate. We aim to become one of the leaders in Singapore smartphone market; and provide the high quality product but has the most affordable price. At the beginning, we followed the Cost leadership strategy. Basically, we use the lowest cost of operation in smartphone industry. Since our company is a new entrant in the market, we need to gain the attention from customers, try to build brand awareness, brand image and also brand equity. Although our smartphone has unique design and distinct functions, but our team set lower prices in compare with other brand names in the market. The reason is we believed that customers always be more attracted to cheaper prices, otherwise, they will tend to choose famous brand names that already gained reputation in the market. We understood that cost leadership is different from price leadership. Our company can be a lower cost producer, but our smartphone has the high quality and distinct functions. After the poster presentation, extremely thanks to our lecturer – Dr. Adrian Bradshaw, our team recognized that the company strategy is not correct. Because when we establish a business, we absolutely will do a lot of R & D (Research and Development) analysis and market research, we would spend a lot of times, efforts and money for those things. Hence, if after that, we set low prices for product, we will waste the efforts at the beginning and our production materials; also, it could be hard to

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