In last decade, Apple has expanded itself into a complex company that specializes in much more than computers. However company also sells kind of digital application such as PHONE, PAD, POD, APPLE TV and Software application. In addition, company has maintain its own operating software used in its accessories of product like SIS. OUTLINE Apple product captures big market on its competitors using marketing mix or 4 Up’s like product, price, promotion and place mix. Apple boasts a long chain of retail stores using market expansion strategy over its brand.
According to my search, Company boom in terms of making sale and revenue each year. The paper is to examine the fact and critical evaluation of Apple market segmentation strategies, target marketing and how they are working on four As. THEORY OF 4 The theory determine that there are 4 As which are inter related towards each other to follow up a market strategy for a particular company and help a company to increase their sale, revenue, brand status and provide services.
Whereas, marketing is defined in four heads Product, price, place and promotion and these marketing elements works online as well as offline framework for a many to work on their target market. CITATION maraca 5129 (marketing concept on apple, 2013)Marketing MIX The marketing mix is a business tool used in marketing and by marketing professionals for growing up there business and achieving their targets. The marketing mix is often crucial when determining a product or brand’s offer is often synonymous with the four Up’s price, product, promotion and place.
In marketing mix a company need to sell their product as; www. Google. Co. NZ/marketing-mix/images, for creating right marketing mix; business has to follow certain conditions or steps. Right product The product has to have the right features – for example, it must look good and work well. Sell product at right price in the market. Price of the product should be average so, that average people can afford that product. In a right place The product must be available at right place and right time period.
Making sure that location should be centralized so, that it can cover all delivery as well as other services nearby areas. Following right path of promotional activity for their product line. Promotional activity should show correct information about product ND should attract customers. CITATION Anal 1 5129 (Analysis on marketing mix, 2011)2. 2 APPLE FOUR Up’s PRODUCT Product is determined an item that is offered for sale. Product can be in terms of service.
As, Apple products are PAD, PHONE, POD and Mac computers; all these product are highly demanded in market by different consumer for different use and Apple product target business person, students, adults and Kids. PRICE Price refers to an amount of product sold in the market in terms of money. Apple price are generally high because of their advance technology in global market ND they determine to reduce price after they launch new product with advance technology in it. PLACE Place refers a location where Apple products are being sold and Apple always choose convenient location so, that they can provide best service to its.
PROMOTION A promotion is a tool or medium to transfer information of their new product in public mind and Apple use two important promotion advertising as well as personnel selling. CITATION Anal M 1033 (Analysis on marketing mix, 2011 )PRODUCT IMAGE Standard of apple products are in hikes, image of their product shows that how fast Apple Company is growing itself by introducing advance technology in its product and better features that all other competitors. Apple products are easy and comfortable to use by all users.
For Example: MPH Is a synonyms of pod but still people prefer pod because of better quality of listening, touched etc and another example can be there are so many tablets in market instead of that people prefer to buy I pad because of its display, image, quality, camera clarity and better look. PRODUCT MIX Apple is a leader in research, development, manufacturing and marketing computers targeting consumers as a source of business, educational and government education. The company’s financial success is enhanced due to its higher demand of product and marketing techniques.
Apple design and make their product in a form to attract consumer by its quality by adding advance technology into its product. Apple launched so many different type of product pod, I Pad, I phone and Mac computers with specialized operating software; these entire product has a great value in the market and they are being sold in the market shown below in the image; http://transponders. Bigots. Co. NZ/2012/03/apples-product -mix. Template is highly ranked company because of its quality and product services. Apple Company also sells its product worldwide through its retail shop and online store.
As we discussed apple company offer a variety of cell phones( I PHONE 2,G,4,AS,5,C), computers(desktop and laptop), music player and other product, all this product contain apple own software SIS ; which is entirely different from all other product like Samsung uses Android. As, Samsung is big competitor of apple but Apple is ahead of Samsung because Apple’s technology is always advance and competitor follow up their system or copy them in different way. CITATION off M 5129 (official website of apple, 201 3) PRICE MIX The Apple Price mix in Business Analysis includes Cost, Competition and Discounts.
The marketing plan must include consideration on how Apple prices determine and including discounts, (Puerperal, Jar. & McCarthy, 2004). Apple marketing plans must include consideration towards price. The pricing includes costs, competition, discounts, and location. As, we know that if other factors in the product are perfect but price is high people will not buy it. As, Apple price is high but Comparative to technology prices of Apple product are better. More than average people in world need high standards want to use new technology ND keep in touch with new innovations.
For Example: Apple I phone 4 was launched during mid 2010 at rate of NZ $1099 but if we compare that price with current price, I phone 4 Price is NZ $599 On Apple official website and on other website may be bit cheaper with deals. As, technology is getting old fashioned apple reduces price but for new technology apple price is high. So, as in a result Apple price works on its Technology. PROMOTION MIX Apple has become very active in promotional strive and Apple logo has become one of the most attractive and recognizable symbols in world level. The company uses two promotional strategies for publish their product towards its public.
The first promotional strategy it uses is advertising, Apple manages to create a worldwide advertisement of its product on TV networks, magazines and over internet. Apple products are advertised in so attracted way that it shows people that world technology is increasing faster and it forces people to be attracted. So, Apple doing really well in terms of advertising and the best part of Apple is it keeps their customer up to date on their new release so, that customer become excited to have their new launch. The second promotional strategy apple Uses is personal selling.
Apple stores representative sales staff is trained thoroughly in both product information and customer services . Whenever the new launch comes these sales marketing staff split information about their product in the market and they are trained to attract customers and provide better promotion of their new product. PLACE MIX Apple is said to be an American multinational brand, Apple Headquarters is located at 1 Infinite Loop, Cupertino and product is designed in California and assembled in china. Apple has 415 retail store in 13 different countries and available with online store (38 countries).
Apple signed a contract with telecoms, Avoidance, 2 degree, skinny to sell apple product on contract to customers without any interest rate so, that they can increase amount of sale in global market. Apple location service is perfect which help customers to reach and contact them anytime for anything and Apple also provide international warranty For Example: If a person purchased I phone 5 in India and now he is in New Zealand So, he can visit apple store in New Zealand and book express placement and provide better service which will initiate customer to provide better feedback over there service.
THEORY OF MARKET SEGMENTATION Market segmentation is said to be a marketing strategy that involves dividing a broad target market into minds of consumers who have common needs, and then designing and implementing strategies to target their needs and they wish to use different media channel and other sources to medium to reach public and it also allow company to create product differentiate strategies to target them in market. MARKET SEGMENTATION ON APPLE Market segmentation of apple has a huge amount of success worldwide.
In last ten years, after considering overview on apple growth, which show that Apple products is successful- not because it has become biggest company in its various industries but it has thought carefully about how to sell product in market and whereas, Apple segment the market based on new product features and attract consumers inventing something different from other competitors. Apple product market segmentation is based on quality of service they provide on their product and discounts for the existing customer.
CITATION siege 129 (segmentation, 2013)APIPA products are expensive but innovative Apple products are expensive from the day Apple launch its first product Because Apple use expensive & advance hardware in its product and also challenging for every other competitors to know that Apple products can never have virus in it because hardware never let any unknown threat to enter inside. Apple is doing what it should do as targeting specific market and overtaking them using better quality of features, new invention and also they compete to make every product they offer to be the best in its class and they succeed doing o.
Demographic segmentation Demographic segmentation is based on measurable statistics such as age or income standards. Apple launches its product for every age group including students, business person, adults and teenagers. Also, segment middle/ upper class disposable income people. Cryptographic segmentation Cryptographic segmentation is based on change in lifestyle, personality and social class of the product.
As, we know that people taste and preferences change very fast and So, In that case Apple always move ahead over its generation and brand name is popular all over the world because of quality of reduce they innovate. Geographic segmentation Location of Apple is the most convenient source of segmentation for Apple to provide best sought of service on its product. As we already discuss that apple provide fastest service on their faulty product sitting at home known as express delivery and also use a strategy on phone replacement rather than getting them repaired.
So, all these segmentation attract users of Apple to keep in touch with their product. CITATION mar 13 M 5129 (market segmentation, 2013)THEORY OF TARGET MARKETING Target marketing tend to break a market onto different segment and then considering a marketing effort on one of these segment and the best thing of target market is that it makes promotion, pricing and distribution of companies product or services more cost- effective and easier. Target market can only be achieved after having a long research on rivals, also internal and external environment in the country.
Identifying the target marketing is essential step to develop marketing plan and Target market is meant to be different in terms of different countries. As, Apple brand is broad in terms of target marketing. APPLE TARGET MARKETING Target market is one of the important strategies for Apple, which tells them where they want to reach and even Apple focus trend is on middle/ upper class income status people because of their standards and product value. Apple has certain target on market as mention below; Teenagers Teenagers are considered one of the apple target market.
As, teenagers use Apple product such as pod, I phone and I pad for listening to music, playing game and these product of Apple become quit a trend with teenagers. Http://plenipotentiaries. Webby. Com/apples-target-market. HTML College and university students College and university students are also targeted by Apple. Generally students use Apple product such as, I pad, Mac book’s and I phone etc for recording or writing notes and Apple products are light weighted and easy to carry devices to and from school. Http://plenipotentiaries. Webby. Com/apples-target-market . Thumbprints people Business people are very attached towards Apple products. Apple products contain business source of quality in it which is very useful for business person. Apple respond to certain good quality to business is communication towards client n sending document easily and organized tatter. Http://plenipotentiaries. Webby. Com/apples-target-market. HTML Young children Apple products integrate a target on kids.
Cite this Company Boom in Terms of Making Sale and Revenue Each Year
Company Boom in Terms of Making Sale and Revenue Each Year. (2018, May 15). Retrieved from https://graduateway.com/company-boom-in-terms-of-making-sale-and-revenue-each-year/