236 Lower marketing expenses Branding helps a company to invest less in

236 lower marketing expenses branding helps a company

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2.3.6 Lower marketing expenses Branding helps a company to invest less in marketing (promotion) expenses, though you need to invest money in order to create a brand, but it's more like a one off investment as once it's created you can maintain it and do not need to tell the whole story about the brand every time you market it. For instance, Apple promoting for iphone by Apple, everyone knows that iphone is a touch phone produced by the brand Apple. 2.3.7 Greater company equity- Branding your company allows you to get more money when you decide to sell it. Also, it allows the company to borrow loan even if the company's facilities and inventory vanished, just because of their brand name. Similarly if Apple Inc founder ever decides to sell the company he will get more money. 17
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A Project On Analysis Of Marketing Strategy: A Case Study Of Apple Inc. 2.3.8 Less Risk and Quality Assurance Lynne Haley Rose (2012) states, when you market a product/service with a strong, positive brand association, you communicate an assurance of quality to the potential customers, which makes the consumers more likely to buy from your branded company rather than a no name company. Often, superior sales are due to the trust and expectation of quality that the recognized brand has established through an integrated marketing program. This is the reason that customers prefer to buy Apple's products rather than those that are unbranded. 2.4 STP Process It consists of a set of three strategies namely ( S egmentation, T argeting and P ositioning) that is created after branding, and further helps in developing marketing strategies for Apple's brand. Figure 1: STP process 2.4.1 Segmentation- As stated by University of Southern California (2012), when the market is divided into sub groups, known as market segments, in order to create product differentiation strategies and to exploit these segments to the firm's own use. There are several segmentation techniques that can be used, like: o Demographic segmentation: It is when the market is segmented on the basis of age, gender, education, income, occupation, etc. 18
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A Project On Analysis Of Marketing Strategy: A Case Study Of Apple Inc. o Geographic segmentation: It is when the market is segmented on the basis of city, state, region or country. o Psychographic segmentation: It is when the market is segmented on tha basis of life style, Social class (Upper class, middle class, lower class, blue collar, and white collar), behavior, opinions (liberal/conservative), values or ethics. Apple Inc segments their market by Figure 2: Apple's segmentation As we are in an age of mobile computing, it helps to see the continuum of connected devices from the perspective of their means of mobility; namely, whether they are wear- able, pocket-able, bag-able or portable. 19
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A Project On Analysis Of Marketing Strategy: A Case Study Of Apple Inc.
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