How to Stay Relevant in a Competitive Market

Image: iPhone 6 SE

Corporate Challenge: Competitors are quickly gaining market share by responding to shifting
consumer demands. 
 
Ironbound Strategy:  Extend the product line to create value to more target markets. Powerful brands leverage the success of existing businesses to finance
growth strategies.
 
Ironbound Action: Apple introduced iPhone SE, a smaller 4” display smartphone, to better appeal to customers that want small screen versatility. The lower price point, $399, also helps promote the Apple brand experience to first time consumers. Innovating new products in response to shifting consumer demands is critical for powering the brand forward into the future.