Marketing strategies of Apple Inc Essay

A ruminate on the merchandising strategies of orc unuttered apple tree Inc (Dissertation)Document 1. A sketch on marketing outline of apple declination 2012 I Critical Analysis of using marketing strategies of stigmatiseing apple Inc Maha H 2. A correction on marketing strategy of orchard apple tree December 2012 II Declaration I hereby decl ar that this harangue is my own original work and is the result of my own investigations. This dissertation question was conducted to fulfill the requirements of BA (Hons) in Business Administration (Marketing) associated with University of Wales. XYZ December, 2012 3. A admit on marketing strategy of apple December 2012 III citation I would like to thank a bunch of people who helped me in completion of my dissertation like My facilitator for guidance and support through protrude the dissertation. completely respondents and friends for filling in the questionnaires. My family for constant support and motivation. 4. A study on market ing strategy of orchard apple tree December 2012 IV Abstract , computernicsconsumer electro apple internalisation is a multinational confederation that take a craps and sells The.billionab proscribed US$16363 stores worldwide, with global gross sales of, insoftw be, and individualized computers are mainlyiPadand theiPhone,iPodline of computers,Macintoshlike enduren crops- fellowships well e due to high punctuate ken tie in to these products. applerecognized as a source of private-enterprise(a) edg ,Final attenuated Studio,Aperture,iWork,iLife,iTunes,Mac OS X withal sells other scrapeed products like, .iOSbrowser andSafari,Logic Studio The main objective of this study is to examine the importance of using marketing strategies of branding in apple Inc. The study cede for help to go steady out approximately the associate benefits of branding mainly. The details of the study forget help us to film close to the consumers sensory faculty about the brand and how thei r loyalty arsehole be increased in order to gain a challengery edge. Also, analyzing the importance of branding basin help us to repair off out about the Apple brands strengths, weaknesses, opportunities and threats, by using thrum analysis tool and by using STP process, we can know how to segment the market, scratch the customers and position the products/services.Whereas, by using 4 Ps of marketing mix, we can find out about the branded product, its price, promotion and emplacement. Therefore, since the competition in the technology industriousness is increasing, A study on using marketing strategy of branding in Apple will help the union in staying at the top of consumers mind, to contend up with the changes, to gain competitive edge, to attain goalsset by the alliance, to secure improvements for the succeeding(a) tense related to products, its pricing strategy, communications used to promote and the placement of the product. Therefore, it will help us to evaluate whether branding will light upon Apple Incs advantage rate or non. 5. A study on marketing strategy of Apple December 2012 Introduction 1.1 engine room Industry Wiki invest (2012) Technology states, the technology industry provides foundation for activities much(prenominal) as, chip production, breeding and communication systems, and computer systems. The companies belonging to this industry serves as developers and manufacturers of the products which increase efficiency and production of cell phones, computers, tele resourcefulnesss, and other communication and information systems. It is a huge industry with a high growth potential, further it is sometimes go through volatile cycles, like the semiconductor industry.As chips are getting smaller and globalization is increasing, demand for faster and streamlined technology, demand for technological industry in increasing. 1.2 Introduction to Apple incorporation Apple Incorporation is a multinational union that createst,tha, statesApple store(2012)Wikipedia 363 stores, computer software, and person-to-person computers, selling inconsumer electronicsand sells oncompany was first foundedThe.billion in merchandiseabout US$16ide, with global sales ofworldw and thenRonald Wayne, andSteve Wozniak,Steve Jobsby, CaliforniaCupertinoApril 1, 1976 in he company was bring ind as Apple Computer, Inc before for the first 30Ted on January 3, 1977.incorporat The companysyears. The word Computer was then removed from its bear on on January 9, 2007. Now the companys.consumer electronicson personal computers shifted towardswastraditional focus , on with theiriPadand theiPhone,iPodline of computers,Macintoshknown products are the-best rooms ofiLifemedia browser,iTunes,)operating system(Mac OS Xother line of products including, (professionalAperture(suite of productivity software),iWorkmultimedia/creativity software, , aLogic Studioindustry),-(suite of professional audio and filmFinal get laid Studiophotography packag e), (mobile operating system).iOSweb browser andSafarisuite of music production tools1.2.1 Mission statement of Apple Inc harmonise to Apple Inc (2012), Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced its magical iPad which isdefining the future of mobile media and cypher devices. A nonher mission statement isApple is act to bringing the best personal computing experience to students, educators, creative professionals and consumers about the world through its innovative hardware, software and internet offerings. 8. To find out about the branded product and its related price, promotion and placement and to find out the strengths, weaknesses, opportunities and threats the company may be facing. To find out about the benefits of branding for the company and to find out how branding helps to gain a competitive edge by differentiating themselves and how it increases customer loyalty and increases brand awareness. To analyze the importance of using a marketing strategies of branding for Apple Inc and to find out how STP strategies helps Apples brand. To insertonaregularbasis. 1.2.4 Major competitors of Apple Inc Samsung, Microsoft, Dell, HP, Blackberry, Nokia 1.3 Motivations of search As the competition in the technology industry has increased, it has run low considered to ca-ca a study on the importance of using a marketing strategies of branding for Apple, to stay at the top of consumers mind, to issue up with the changing environment, to gain competitive edge, to make improvements in future and to attain goals set by the company.1.4 Research Objectives Toopen more thanstoresevenoninternationallocationsto increase sales and reign world market. Tokeepcreatingandreleasingcomputersandconsumerelectro nics those are user-friendly. To obtain products and services within tight timeframe, at a cost providing the best care for to the customers and shareholders. A study on marketing strategy of Apple December 2012 2 1.2.2 Vision control of Apple Inc We believe that we are on the face of the earth to make ample productsAccording to Apple Inc (2012), and thats not changing. We are constantly snap on innovating. We believe in the simple not the t we need to own and control the primary technologies behind the products thatcomplex. We believe tha we make, and participate tho in markets where we can make a significant contribution. We believe in hat are truly important andsaying no to thousands of projects, so that we can really focus on the few t pollination of our groups, which give up us to-meaningful to us. We believe in deep collaboration and cross innovate in a way that others cannot. And frankly, we dont settle for anything slight than excellence in honesty to admit when were wrong and the courage to-company,and we clear the selfevery group in the change. And I think regardless of who is in what job those values are so embedded in this company that Apple will do extremely well.1.2.3 Objectives of Apple Inc As verbalise on the website Apple Inc (2012) are 9. A study on marketing strategy of Apple December Does branding really contribute in making a difference in Apple Incs success? 1.6 Organization of Study Chapter 1 Introduction Chapter 2 belles-lettres canvas Chapter 3 Methodology Chapter 4 Research findings, selective information presentation and data analysis Chapter 5 Conclusion and Recommendations How will using STP strategies, 4 Ps of marketing mix and SWOT Analysis help to promote Apples brand? Does branding allow Apple Inc to pull premium for its products and yet maintain customer loyalty? Does branding allow Apples customer to easily recognize and sequester the company and its products? Does branding helps Apple to tell its products from its competitors, by gaining competitive edge? Does branding allow Apple Inc to communicate companys objectives, mission and vision clearly to their customers? 20123 1.5 Research question 1.5.1 Leading question What benefits will Apple and its customers benefit from after using branding marketing strategy? 1.5.2 Subsidiary questions 10. Brand recognition- is when the consumers suck good knowledge of brand when they are asked questions related to a specific brand and they are able to scar a brand on the basis of having noticed or perceive about earlier. E.g. Is I-phone related to Apple or Samsung?A study on marketing strategy of Apple December 2012 4 CHAPTER 2 Literature Review 2.1 Introduction This section will provide the details about the qualitative data, providing a foundation for all the details to follow. 2.2 What is branding? According to Kotler (1999), branding is a name, term, sign, symbol or design, or a combination of all these that identifies the goods and ser vices of one seller or group of sellers and to tell them from those of competitors. stigmatization does not only allow your target market to require your company over the competitors, but it helps in getting your prospects to impinge on you as the only company that provides a solution to the consumers problems.It provides a companys with a recognizable and trustworthy badge of originality, an impalpable guarantee, i.e. a promise of performance that the product will meet with craved consumers expectations. 2.2.1 Apples Branding Strategy According to Marketing minds (2012), Apple Inc. uses the Apple brand tocompete across several highly competitive markets, including the personal computer industry with its Macintosh line of computers/laptops and related software, the consumer electronics industry with products much(prenominal) as the iPod, digital music distribution through iTunes medicine Store, the smart phone market with the Apple iPhone, magazine, book, games and applicati ons publishing via the AppsStore for iPhone and the iPad tablet computing device, and movie and TV content distribution with Apple TV. The company is as well as establishing a very pie-eyed marketing presence coitus to the mate (Google) in the advertising market, via its business Apps and iAd network. Steve Jobs, the co-Founder of Apple, described the company as being a mobile devices company, largest in the world as their revenues are bigger than Nokia, Samsung, or Sonys mobile devices business. 2.2.2 Brand consciousness It is when the consumers are familiar about the life or availability of the product. It is the story to which consumers associate your brand with a specific product/service. As indicated by Management study guide (2012) in their article What is brand awareness?, Brand awareness may include of 11. It strengthens user loyalty Apple has a branding strategy that focuses on the emotions. Apple brands temper is about lifestyle, imagination, liberty regained, inn ovation, passion, hopes, dreams and aspirations, and power-to-the-people through technology. The Apple brand personality is also about simplicity, making life easier for people as they bring forth people-driven product design, and is a humanistic company with a heartfelt corporation with its customers. 2.2.4 Apples Brand rightfulness According to Investopedia, it is the premium value that the company realizes from a product with a recognizable name as compared to its generic equivalent firm. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability.Also, draw marketing campaigns may help to create brand equity. Brand equity is said to be commanding if the consumers are willing to pay more for a branded product than for a generic one. Brand awareness plays a key role in building brand equity. constrain reliable brand image, slogans and taglines, helps to strengthen brand awareness which at that pl acefore improves brand equity. Marketing minds (2012) also states, Since Apple has strong brand awareness, it has high sales and high market share, and the consumers are well acquainted and familiar with the brand and its products. They are alsowilling to pay premium price for their products, relative to the competitors brand due to Apples positive brand equity. Apple is not just intimate with their consumers but there is a real sense of community among users of its main product lines. Therefore, this also helps to create consumers brand loyalty (where brand loyalty is when the consumers perform committed to your brand, choosing it over competitors and making repeat purchases over time.) It motivates the acquireer It connects your target prospects emotionally It confirms your companys credibility Helps to deliver the message clearly Brand recall- It allows a customer to recover a brand from his memory board when given the product class/ socio-economic class, needs satisfied b y that category or buying scenario as a signal, i.e. if they are able to recall the brand from their memory. E.g. Sho net profitg a logo of Apples brand, and postulation which brand does this logo belongs to.2.2.3 Apples brand personality As state by About.com (2012), What is branding and how important is it to your marketing strategy?, a good brand helps a company to achieve these objectives A study on marketing strategy of Apple December 2012 5 12. A study on marketing strategy of Apple December 2012 6 2.3 Benefits of branding a company (Apple) 2.3.1 Emotional Appeal As stated by Clarity marketing LTD (2005), emotional appeal helps a bully deal in targeting customers emotions with product names. A strong, recognizable brand will acts like a short cut in decision making process, as the customers dont dither over alternatives or compare options where there is no clear point of difference, and like a shot chooses your brand as they know what it stands for.For instance, as Apple manufactures technological items, the name of each product clearly reflects technological aspects like iPod touch, which indicates that it is a product that allows you to play and choose music through touch properties. It therefore, helps in creating an compound appeal to specific emotions promoting the product recognition and sales. 2.3.2 Memorability and Familiarity According to Marcia Yudkin (2012), brand helps to create a reputation and good will for a company. It is very hard for customers to discover to a company as that whatsitsname store or to refer business as the shop from the Yellow Pages. In addition to the company name, it gives people to give constant reminders reinforcing the identity of companies they will want to buy from. Memorability can come from the logo, its design, color, style etc whichhelps to nail your companys name in the minds of the public. Similarly, after your brand is nailed in the minds of your customers, thats when your customers have become fami liar and aware of your companys existence in the market. Branding allows having huge effects on non-customers too.Psychologists studies have proved that familiarity develops liking for it. Also, the customers who have never bought from your company, may many tomes be willing to recommend your company to others even without having any personal knowledge of your products or services. Therefore, the half bitten Apple logo and the brand name Apple help a great deal to help customers remember, be familiar and recommend the brand to others. 2.3.3 amplitude image and Premium price Branding allows a company to differentiate themselves from competitors existing in the market, because of which instead of dealing with price-shoppers the customers become eager to pay a higher price for your companys goods and services. A strong brand let the customers associate themselves as being a company that offers premium quality, trendy products and is offering unique products that other companies are n ot offering.2.3.4 Extensions When your companys brand is well-established, you can spread the respect youve bring in to a related new product, service or location and win acceptance easily of the newcomer. For instance, when Apple introduced a new product perpetuation line of Ipad, the customers trusted the brand so they didnt feel backward and bought Ipads anyway, making these tablets quite popular of its kind in the market. 2.3.5 Loyalty When customers have a positive experience with your companys brand, they are more likely to buy your products and services again in future quite an than the competitors. Customers that are closely bonded with your brands identity may not only repurchase what they bought earlier, but may also buy related items of the same brand, and recommend your brand to others and resist the lure of a competitors price cut. The brand identity helps to create and anchor such loyalty.