The strategy I chose was differentiation. According to Strategic Management, the essence of differentiation strategy is "you get what you pay for" (2014). Meaning, when companies sell items for a cheap, discounted price, the customer is going to experience a low-value product. It also mean that a company is going to compete with uniqueness in their products. This could be either pricing for their product, different services offered, or the quality of product. Many factors go into the differentiation strategy. A company may struggle to create unique ideas that will separate them from their competition. Many times, however, companies will price products to their value. Meaning, sometimes companies will create products that deserve a higher price tag, but people will pay a higher price for more of a unique product.
The company I chose was T-Mobile. With their unique strategies, T-Mobile is in competition with Verizon, Sprint, and At&T to provide a better service. Their strategies include paying for customer's unwanted contracts, standing out with their pink coloring, eliminating monthly contracts, and offering no additional costs to international roaming (Reardon, 2015). It also offers great pricing compared to its competitors. Marketing and advertising is also one of their unique strategies because it catches people's eyes. According to the CNet article, T-Mobile has increased their customer rate by 89% since 2013 (Reardon, 2015). Since 2014, T-Mobile has also added 8.3 million new customers (Reardon, 2015).