How would you define a low cost strategy, a best cost strategy and a differentiated strategy.

Which of the companies in the real world is running each type of strategy? How does this relate to their positioning in the marketplace?

1. Canon Inc is a Japanese multinational corporation specialized in the manufacture of imaging and optical products, including cameras, camcorders, photocopiers, steppers, computer printers and medical equipment. Its headquarters are located in Tokyo, Japan. Canon has been manufacturing and distributing digital cameras since 1984, starting with the RC-701. The RC series was followed by the PowerShot and Digital IXUS series of digital cameras. Canon also developed the EOS series of digital single-lens reflex cameras (DSLR) which includes high-end professional models.

2. GoPro, Inc. is an American corporation that develops, manufactures and markets high-definition personal cameras, often used in extreme-action video photography. They are compact, lightweight, rugged, and are wearable or mountable on vehicles. The cameras capture still photos or video in HD through a wide-angle lens. Users can configure the degree of remote control or intervention required. The company has its base in San Mateo, California. On May 19, 2014, GoPro formally filed its S-1 with the SEC hoping to raise at least $100 million through the sale of shares, using the money to pay off debt and “to acquire or invest in complementary businesses, technologies or assets.” In 2006 the company introduced its first Digital Hero model, with 10 second video capability, and generated $800,000 in revenue. The following year GoPro sales quadrupled to $3.4 million.

3. DJI Innovations is a privately owned and operated company headquartered out of Shenzhen, China. They produce the phantom series quadcopters with GPS First Person View. Their products are aimed at both hobbyists and professionals. DJI benefits from direct access to the suppliers, raw materials, and young, creative talent pool necessary for sustained success. Drawing on these resources, they have grown from a single small office in 2006 to a global workforce. Their offices can now be found in the United States, Germany, the Netherlands, Japan, South Korea, Beijing, Shanghai, and Hong Kong. As, DJI focuses on their vision, supporting creative, commercial, and nonprofit applications of their technology.

4. Red.com, Inc. (Red Digital Cinema Camera Company) is a privately-held manufacturer and distributor of professional digital cameras, sensors and workflows. It offers HD video cameras, digital still and motion cameras, and lenses, and accessories. Red.com, Inc. was founded in 2005 by Oakley founder Jim Jannard. The first Red camera was delivered to customers in August 2007. Called the Red One, it had a 4K “Mysterium” sensor and was capable of recording raw 4K images at up to 60 frames per second in the proprietary Redcode format. Red products have been used to shoot Gone Girl (2014), The Great Gatsby (2013), The Hobbit (2012), and Prometheus (2012). Its products are used in cinema, television, and photography sectors. The company sells its products online and through stores in the United States and internationally. Its annual revenue is believed to be between $100 – 500M

5. Yi. (Yi Technology) Xiaomi began selling the YI action camera for CNY 399, which was created by YI Technology. It comes with a 16 MP Sony IMX206CQC sensor which can record videos at 1080p60 and 720p120. It is waterproof up to 40 m with the waterproof case. Since it became very popular even outside China through its low price and same physical dimensions like products from Hero, there exists some user-made tweaks for features include shooting in RAW, customizable ISO and white balance. In May 2016 the new YI 2 was introduced Compared to the popular GoPro brand of action cameras, Xiaomi’s motion camera, YI has electronic motion stabilization, an integrated LCD display, dual microphones, bigger battery, Slow Motion mode, Timer mode, lens geometry distortion correction and no overheat issues.