100%(5)5 out of 5 people found this document helpful
This preview shows page 17 - 20 out of 32 pages.
As long as their products are cutting edge consumers will have no problem paying more for them. It’s important this trade off does not subside in order for the premium pricing to be sustained.17Marketing report of Apple iPhone by Oliver Ayuk April, 2018
Strategy-Strategically price all products at the top of the market base price relying on brand and quality to offset the price differential.Objective 2-Increase profit margins.Even with a high or low share of the market it’s your margins that make or break you. Apple has great margins but a low market share across the board due to competitors low price points.Strategy- Continue push to lower cost to make products while sustaining the same retail price in the market.PromotionBuilding a brand may be the toughest challenge in all of business. To start at absolutely nothing and build something that persuades millions of consumers to buy your products. Success like thisis not built without excellent marketing and promotion strategies which Apple has certainly demonstrated they have.Objective 1- Build hype and anticipation for new upcoming iPhone models.No better promotion than getting consumers to anticipate your next release. Every great product’s next version will always do great despite its functionality based solely on the anticipation from its previous version. Ex: If you liked the iPhone 7 why would you not like the 7S with newly added features and design?Strategy- Use annual conference and events to announce release and information on each new product before it hits the market. This allows the consumer to build a demand for the product before it ever hits the shelf.Objective 2- Sustain and expand on strongly branded name.There is no bigger name in the tech world and it can only get bigger as we go. Apple has changedthe way we look at phones. Who says the word tablet anymore, most associate the device with iPad.Strategy- Be a trend setter, enter new product markets before competition, and deliver current products at an unreachable standard of quality.If they continue to set trends, enter new product lines and take their share of the market they will not only build their brand they will dominate the competitionNO 3.18Marketing report of Apple iPhone by Oliver Ayuk April, 2018
Identify three target segments, and demonstrate how your chosen company will develop loyalty with those consumers over the strategic three-year horizon.First, what is Segmentation?A large, heterogeneous market is comprised of smaller group with homogeneous preferences. Market segmentation is the practice of dividing a large heterogeneous market into smaller subgroups with shared characteristics in order to deliver the marketing offering that satisfies unmet needs as closely as possible. There are many ways of segmenting consumer markets that is geographic, demographic, gender, income, psychographic segmentation and etc. Segmentation of consumer market give road map to marketers to develop the marketing strategies as consumer