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what, historically, have been apple’s major competitive advantages?introduction:
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Marketing is a tool that is constantly utilized in business. This tool allows customers to familiarize themselves with the products they are purchasing or are interested in purchasing. Companies spend billions of dollars annually marketing their products to hopefully attract consumers. Apple often markets their company as the ones who “Think Different”, but surprisingly Apple’s spending amount on marketing is fairly low compared to its amount of sales and the size of the company. Apple is able to keep the cost low all thanks to specialized marketing strategies.
Marketing has the ability to have your product praised upon or crushed by consumers, and what determines that is a marketing plan. The objectives of marketing plans are determined by how the marketer wants the product to be seen; meaning if the marketer wants to sell a product to teenagers then the advertisements would most likely attract teenagers. The next step in creating a marketing plan is figuring out what attracts the group of people you are selling to. Research shows that consumers need about seven hours of communication before they decide whether to purchase a product or not; this does not mean a sales person has to talk to a consumer for seven hours; communication can include visiting the product’s website, researching the product, or talking to previous customers about the product (Boyle, 2011). In order to find out what consumers want, many marketers turn to surveys to hopefully give them inspirations as to how to market their products.
In 1960, EJ McCarthy created a marketing tool called the “4Ps” which is the best known means of defining the marketing mix; the 4Ps are product (or service), place, price, and promotion (MindTools.com,2013). These elements are ...
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...tion not just their customers, but also in everything they touch (Tweedie,2013).
Apple uses this specialized attention to captivate their customers, and make them feel at ease when being overwhelmed by the most advanced piece of technology out there. This specialized attention is significantly focused around their marketing strategies, because it is the closes the company can get into their consumers’ minds. These are all explanations as to why there is always a specialized tech team at an Apple store, and why Apple ships out their online products from the warehouse within 24 hours; because they know what attracts our attention and our business. Apple’s marketing strategies has put their company over the top with simplistic strategies that many companies tend to over think, when in reality all we need is something that captivates our attention; like a bitten apple.
The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
Apple Inc. uses the Apple brand to compete across several highly competitive markets, including the personal computer industry with its Macintosh line of computers and related software, the consumer electronics industry with products such as the iPod, digital music distribution through its iTunes Music Store, the smart phone market with the Apple iPhone, magazine, book, games and applications publishing via the AppsStore for iPhone and the iPad tablet computing device, and movie and TV content distribution with Apple TV. For marketers, the company is also establishing a very strong presence to rival Google in the advertising market, via its Apps business and iAd network
In fact, about this business one can easily write a few weighty books. Without exaggeration, we can say that Apple is one of the brightest technology companies that appeared in the 70s of the last century. Due to innovative technology and aesthetic design, Apple Inc. has established a unique reputation comparable to the cult in the consumer electronics industry. In 2014 the company was ranked first in the world by market capitalization. The concept of the brand is built around the slogan 'Think different’ (Linzmayer, 2004).
It basically constitutes 4P’s of marketing mix such as price, place, product and promotion. All these 4P’s have similar repercussion for the promotion of products in various organizations. These justifiable elements of marketing mix can be utilized by a business organization to increase its marketing efficiency. With the marketing mix, a company can have access to marketing information so as to determine the outcomes of the marketing activities on its total sales. The company can evaluate the extent of efficiency of its marketing activities using the information gathered from the marketing mix.
Apple’s SWOT analysis includes strengths that adhere to its great success; such strength is Apple’s marketing and advertising campaigns. Apple incorporates its products to portray a sleek, new, cool, the latest, and must-have technology image to its consumers. Our customer loyalty allows us to continue growing as a corporation and increases our already well-established brand awareness and reputation. Our strong financial performance is an outcome of our internal strengths highlighted. Apple’s weaknesses include, but are not limited to our patent infringements, defects that occur in our products, our declining market share, as well as our incompatibility with other os devices. Realizing our weaknesses allows us to develop goals that will correct these areas we currently need work on. The opportunities of our external environment; such as the ...
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Apple depends on building a better product and in turn, the product itself leads people to purchase from Apple. However, new or improved products will not necessarily be successful unless they are priced, distributed, advertised, and sold properly (Kotler & Keller, 2012). The holistic concept encourages the marketer to integrate marketing activities and assemble marketing programs to create, communicate, and deliver value for consumers such that “the whole is greater than the sum of its parts (Kotler & Keller, 2012). This is why Apple advertises how much the new feature will enhance the consumers’ life and release snippet tutorials of how to use the new features or
The company has paid closed attention to after-sale service through the Apple retail stores to set high standards of customer service. Great customer service is more than appreciated by all customers and greatly contributes to the overall product experience. This has led to great customer loyalty. Apple’s use of its very own iOS, by which most people swear by, is an extremely respected and efficient platform. The company opened up the platform to the developer network to create applications for the iOS, which is now preferred over the other operating systems, especially as this community is one of the strongest online community
To be a successful business, the owner of the business should use the marketing mix and the results of market research; having identified its key audience a company has to ensure a marketing mix is created that is targeted specifically to those people. The marketing mix is a term used to describe the four main marketing tools, Price, Product, Promotion and Place (EStartup business blog, 2010). An example of each 4P’s are: which products are well received, what prices consumers are willing to pay, what TV programs, newspapers and advertising consu...
The Apple brand name is a household name, the brand value of Apple, Inc. improved to $13,724 million in 2008 from $11,037 million in 2007 (Datamonitor PLC, 2009). Apple is different from its competitors because it produces high quality products, its products are also unique and attractive and this has helped to increase its market shares. Since Apple is known globally, 54% profits come from foreign markets (Datamonitor PLC, 2009). Apple products are easy to use and carry around, majority of its products are light, small and very easy to carry around and it has a major advantage of product diversity, there is something for every one of all ages.
A marketing mix is what businesses use to detail the main functions of business marketing and do into further explanation as of how those functions influence the success or failure of a business. There are several different marketing mix tools, the four P’s is a very useful tool explaining the main functions of a marketing mix. A basic way of describing the marketing mix is the four P’s: Product,Place, Price, Promotion. A very important part of understanding how to use this tool is asking yourself questions that will help you understand each individual part of the marketing mix. Many people use this process to check their existing business to see if there are improvements to be made. The four P’s marketing mix system could also be used before starting a new business or offering a new product to give yourself guidelines on how to run your new business.
“In 1960, McCarthy expanded what Neil Borden had previously coined the Marketing Mix [1] (now often associated with the "4 Ps") as 4 controllable variables the company puts together to satisfy a target market: product, price, place and promotion.[2]”
The factors that have a great influence on marketing management, marketers’ business decision-making, and their relationship with customers include macro- and micro-environment, and the latter in turn includes the concept of so-called “4 P’s” (i.e., product, place, promotion, and price). Micro-environment is also referred to as “immediate environment” and stands for the factors that are literally “close” to a certain company: its suppliers, customers, intermediaries (e.g., advertising agencies), and competitors (“Marketing environment,” n.d.) Four P’s are also called “the marketing mix,” and their most widely used interpretation belongs to McCarthy (Blythe, 2008). The marketing mix indicates the four aspects of how to make your business profitable and yourself proficient as a marketing specialist. As Cannon (1992) pointed out, “The marketing mix is the set of controllable variables that the firm can use to influence the buyer’s response.” First, the business person needs to understand what the product of consumer’s desire is. It is obvious that “an undesired product” will not be sold. Producers, however, may invent something that consumers even did not expect to have but really wanted, at least, unconscious...