Marketing Approach
When a company desires to increase customers’ awareness and growth its profit, it usually uses different marketing approaches. The dictionaries state that “The market approach is a valuation method whereby a evaluator determines the fair market value of the target company by reviewing actual transactions of guideline or comparable companies”( divestopedia, n.d). In other words, it calculates the data from the sales within the same geographic proximity and within a recent timeframe adjusting for dissimilar characteristics.
Marketing, on the other hand, is a social process that aims to create value through individuals’ needs and wants. According to American Marketing Associating (as it is cited in marketing teacher, “Marketing…show more content… The competition becomes even harder because businesses need to understand more cultures, habits and desires. The current situation puts BlackBerry at the bottom of the ranking. On the international level, the company is well-known into the United States of America, France, and Spain, but it is not offered in less developed countries. Generally speaking, the company is working its new marketing strategy – including developing new products, increase advertising budget, but it does not focus any thoughts to international marketing strategies( does not consider to enter new markets). Probably, this is because of the lowest sales, and the need of higher budget for market research, negotiation and the long process of finding a strong partnership. Or it is not a necessity – we never…show more content… Furthermore, the approach visualizes a lot of opportunities on both local and international level – advertising, marketing, sales, or market position/shares. RIM provides users with exceedingly secure and save telephones that are extremely important for business organizations. The operational system of BlackBerry is controlled by the company which faces some limitation to the users. Although, it was known as the business phone much earlier than Samsung or Apple, the company fails to expand its business connections. The absence of additional smart devices such as tablets or e-books is another weakness of RIM. If they did create any of these products, they would have a little piece of the pie. If the organization starts working on tablets and cell phones development, it has the opportunity to attract more consumers. As per evaluation, tablets find greater application into the business world. By the same token, it has the opportunity to reach out to more partners and international. The rapid innovation changes, frailer to the new markets and competition are one of the treats that RIM should deal