Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Brand equity of apple
Brand equity of apple
Growing and sustaining brand equity
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Brand equity of apple
What is a Brand?
American Marketing Association (AMA) defines brand as a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers to differentiate them from those of competition” (Strategic Brand Management, P. 31). In this era of diversities, different brands compete with one another to be the most recognized in the market. They attempted to create the “wow” shopping experience that will make people come back for their brands. Wharton’s marketing professor by the name of Stephen Hoch once stated, “Peoples’ expectations are pretty high. It’s easy to fall short of those expectations, and hard to eclipse bad experiences, even with something that’s over-the-top.
…show more content…
Apple well understands that brand equity is fundamental for the success of a company. Apple has created a sense of ownership and pride among its users. Once people have shifted into Apple users, it is very likely for them to prefer Apple products rather than its competitors. Even though competitors like Samsung, Google, and Microsoft have continue to innovate new products with better specifications than that of Apple, many Apple customers are not easily …show more content…
In my opinion, Apple has successfully gained and maintained both of these sources of brand equity. Brand awareness is made up of brand recognition and brand recall. “Brand recognition is consumers’ ability to confirm prior exposure to the brand when given the brand as a cue. Brand recall is consumers’ ability to retrieve the brand from memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue” (Strategic Brand Management, P. 73). After co-founding Apple, Steve Jobs stated that, “The chance to make a memory is the essence of brand marketing.” Apple has done exactly that by making connection with customers through their products. There is an undeniably strong brand awareness to Apple. On the mention of the word smartphone, for example, one of the first brands to come to the mind of the majority of people will be the Apple iPhone. On the mention of the word music player, one of the first brands to come to the mind of the majority of people will be the Apple iPod. On the mention of the word tablet, again, one of the first brands to come to the mind of the majority of people will be the Apple iPad. These are proofs that Apple has successfully gained very strong brand
When people go shopping there are limitless choices of one product made by different companies, all choices of this product basically do the same thing, but what makes them different is the brand’s name. Companies with brands are trying to get their consumers by presenting their commodities in ways
Apple is a king in the technology world; poisoning every area of the industry that they have introduced a product too. They are slowly weeding their competition out. The only a company thrives in the thorn bush market is if they are in cahoots with apple. Apples co-founder Steve Jobs, started the company with all intention of dominating the market. The only obstacle for them is the Anti-trust law created ages ago. Apple, in their attempt to take the market over, has been racking up evidence against themselves. There reach has leaped boarders and even caught the attention of the European Union. Apple is pushing their boundaries and in the future will eventually cross the line in to monopolistic actions.
The branding Ms. Klein wrote about only appears to work because the idea of “choice” as defined by the brick-and-mortar retailers is an illusion. Anyone entering a department store or mall understands this quiet truth. There are many styles to choose from, it seems, b...
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
Apple management must bridge the perceived innovation gap with some sort of product breakthrough. Otherwise, it is reasonable for the company to accept lower Street expectations built upon the premise that while the company remains an exceptional production, distribution and branded business, the days of unparalleled enterprising innovation and leadership may be ebbing.
The following chapters would review each of factors determining Apple`s success. Brand Image Meticulously crafted image of Apple products as a unique and unrepeatable product contributed to the fact that it has become almost a cult object. In 2011, according to the rating of research agency Millward Brown, Apple TM has become the most expensive brand in the world, which has been estimated at 153.3 billion dollars. Brand Communication Strategy
Apple company consumers connect with the actual model quite totally. Duplicate acquisitions are widespread. They feel an extremely powerful addition for the model as it portrays an extremely distinct graphic. It helps make them feel that they are moving using the transforming movements given that they unique a good Apple company product or service. Quite a few Apple company customers occasionally look at the Apple company product or service the most liked property or perhaps state they really like the actual model given that they acquire quite mounted on that. Apple company features made itself to become a model how the consumer will surely have the pleased in addition to ongoing relation using. The Apple company practical knowledge has produced more deeply attitudinal ad...
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.
is yet to reach its maximum potential. Truly a unique entity in its accomplishments and organization, apple through the conviction and leadership of Steve Jobs its founder and then CEO; have pioneered the revolution of mobile technology. When it comes to strength, apple Inc, has a great marketing team with great marketing and advertisement capabilities, strong brand awareness, a strong and extensive distribution channel, and most of all a vertical integration and the most obvious which is customer loyalty. With the acquisition of valuable companies such as Beats, WhatsApp, mobile payment systems with the IPhone 6, wearable gadgets like the IWatch, apple uses these opportunities to satisfy its loyal
According to Ideavist (2011), due to the increase in competition as rival companies try to capture a piece of the market share leads businesses to employ various tactics to handle such situations. Some of the strategies used by companies and that Apple could find very constructive could include the below marketing strategies to be used for future success.
has a competitive advantage over their competitors. One of the methods that Apple uses to maintain a competitive advantage in international markets is tying their hardware and applications together with an integrated operating system. This means that one of their devices, such as the iPad works very much like the iPhone and many of the apps run one device just as they do on the other. The only difference would be the size of the product. Apples laptop is larger than the iPad which is larger than the iPhone. Otherwise these products share the same functionality and information through connectivity. They share functionality and information seamlessly through connectivity, constantly updating customer’s lives through simple plug-in. I think this is the number one reason why Apple has an edge over their
In order to ensure the success of a brand the company must put lots of planning and thought into the brands elements. The three brands I have chosen to examine in this branding exercise are Apple, Coca-Cola, and Target because they demonstrate many of the criteria used to evaluate brand success.
Computers and technology makes it easier for entrepreneurs to enter this market. Not only are major tech companies competing against one another, but they are also competing against little programmers that know how to code. In our time you will never know with certainty when a small group of engineers or computer scientists are going to create, “next big thing”. Apple has been able to have a competitive advantage over its competitor by creating the highest quality products and services. Some of Apple’s current competitors are Microsoft, Google, and Facebook, and a few other tech companies as well. Most people strongly people Apple is one of the stronger company its industry, but then again some other people have biased views. Financially, they are the strongest company in the world. Also people are always willing to pay a premium for their products because of their durability, quality, and prior experiences with Apple products. Apple is always on the look at for new innovative ideas and concept that are being produced by self-motivated entrepreneurs. They are always looking to hire bright minds and let them develop within the company. A lot of entrepreneurs, programmers and engineers do not have a problem working for Apple because of their well-established perks. Apple offers its employees of the best benefits in the world. They also fairly compensate their employees that work in the front-end store as
Even with commodities, there are quite a few parameters which brands can use to position themselves to capture a place in the consumer’s memory and consequently in their shopping basket. A few of the more widely accepted of them are: Consistency of Product Quality, Customization of the product to the extent possible, Providing a wider range of products, Identifying the most profit generating segments of the market and modifying or adding an offering to cater to their specific needs, Unique packaging, Emotional Branding and even basing branding on building a unique image to the extent of professing to have a brand personality. In fact focusing on getting consumers to build an emotional identification with the brand and its personality has a far longer lasting effect and builds far greater loyalty than focusing on just functional and utility attributes which a competitor would also able to easily match if not surpass.
Branding on consumer purchase decisions. In order to comply with this a questionnaire was prepared and survey has been conducted among 100 respondents and data revealed that brands have strong influence on purchase decision.