Marketing strategies of Apple Inc Essay

A try place on the market strategies of apple Inc (Dissertation)Document 1. A remove on market strategy of orchard apple tree celestial latitude 2012 I Critical Analysis of using marketing strategies of stigmatization orchard apple tree Inc Maha H 2. A weigh on marketing strategy of apple declination 2012 II Declaration I hereby decl are that this dissertation is my own original work and is the ending of my own investigations. This dissertation research was conducted to fulfill the requirements of BA (Hons) in Business Administration ( trade) associated with University of Wales. XYZ December, 2012 3. A domain on marketing strategy of orchard apple tree December 2012 III Acknowledgement I would like to give thanks a bunch of people who athletic supportered me in completion of my dissertation like My facilitator for guidance and support end-to-end the dissertation. All respondents and friends for filling in the questionnaires. My family for constant support and motivati on. 4. A study on marketing strategy of apple December 2012 IV Abstract , deliberation machinenicsconsumer electro apple incorporation is a multinational troupe that creates and sells The.billion astir(predicate) US$16363 stores worldwide, with world-wide gross sales of, insoftware, and personal estimators are mainlyiPadand theiPhone,iPod canal of computers,Macintoshlikeknown convergences- phoners well e due to high fall guy cognizance related to these results.Applerecognized as a source of competitive edg ,Final rationalize studio apartment,Aperture,iWork,iLife,iTunes,Mac OS Xalso sells other gulled products like, .iOSbrowser andSafari,Logic Studio The main objective of this study is to analyze the importance of using marketing strategies of marking in Apple Inc. The study will help to find out about the related benefits of printing mainly. The details of the study will help us to learn about the consumers awareness about the grunge and how their consignment can b e increased in order to gain a competitive edge. Also, analyzing the importance of stigmatisation can help us to find out about the Apple brands strengths, weaknesses, opportunities and threats, by using SWOT analysis tool and by using STP process, we can know how to particle the market, target the customers and position the products/ run.Whereas, by using 4 Ps of marketing mix, we can find out about the branded product, its determine, promotion and placement. Therefore, since the competition in the technology industry is increasing, A study on using marketing strategy of branding in Apple will help the company in staying at the make it of consumers mind, to cope up with the changes, to gain competitive edge, to bring out goalsset by the company, to make improvements for the future 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 affect Apple Incs success rate or not. 5. A study on marketing strategy of Apple December 2012 Introduction 1.1 Technology application Wiki invest (2012) Technology states, the technology industry provides foundation for activities such as, chip production, discipline 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, televisions, and other communication and information systems. It is a huge industry with a high growth potential, exactly it is sometimes go by dint of volatile cycles, like the semiconductor industry.As chips are getting smaller and sphericalization is increasing, demand for winged and efficient technology, demand for technological industry in increasing. 1.2 Introduction to Apple Incorporation Apple Incorporation is a multinational company that createst,tha,statesApple store(2012)Wikipedia 363 stores, computer software, and personal 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 named as Apple Computer, Inc before for the first 30Ted on January 3, 1977.incorporat The companysyears. The word Computer was then removed from its name on January 9, 2007. Now the companys.consumer electronicson personal computers shifted towardswastraditional concenter , along with theiriPadand theiPhone,iPodline of computers,Macintoshknown products are the-best suite 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 Cut Studiophotography package), (mobile operating system).iOSweb browser andSafarisuite of music production tools1.2.1 Mis sion statement of Apple Inc According 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 conversion 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 computing devices. Another mission statement isApple is committed to bringing the best personal computing project to students, educators, creative professionals and consumers around the world through its innovative hardware, software and internet offerings. 8. To find out about the branded product and its related terms, promotion and placement and to find out the strengths, weaknesses, opportunities and threats the company whitethorn be facing. To find out about the benefits of branding for the company and to find out how branding helps to gain a competiti ve 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. Toinnovateonaregularbasis. 1.2.4 Major competitors of Apple Inc Samsung, Microsoft, Dell, HP, Blackberry, Nokia 1.3 Motivations of research As the competition in the technology industry has increased, it has become mandatory to make a study on the importance of using a marketing strategies of branding for Apple, to stay at the top of consumers mind, to cope up with the changing environment, to gain competitive edge, to make improvements in future and to attain goals set by the company.1.4 enquiry Objectives Toopen more(prenominal)storesevenoninternationallocationsto increase sales and dominate world market. Tokeepcreatingandreleasingcomputersandconsumerelectronics those are substance abuser-friendly. To obtain products and services within tight timeframe, at a cost providing the best value to the customers and shareholders. A study on marketing strategy of Apple December 2012 2 1.2.2 Vision Statement of Apple Inc We believe that we are on the face of the earth to make great productsAccording to Apple Inc (2012), and thats not changing. We are invariably focusing on innovating. We believe in the simple not the t we need to own and reassure the primary technologies behind the products thatcomplex. We believe tha we make, and participate only in markets where we can make a material contribution. We believe in hat are truly important andsaying no to thousands of projects, so that we can rattling focus on the few t pollination of our groups, which allow us to-meaningful to us. We believe in fat collaboration and cross innovate in a way that others cannot. And frankly, we dont settle for anything little than excellence in honesty to admit when were wrong and the courage to-company,and we run through the selfevery gr oup 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 stated on the website Apple Inc (2012) are 9. A study on marketing strategy of Apple December Does branding unfeignedly contribute in making a difference in Apple Incs success? 1.6 shaping of Study Chapter 1 Introduction Chapter 2 Literature Review Chapter 3 Methodology Chapter 4 Research findings, data presentation and data analysis Chapter 5 Conclusion and Recommendations How will using STP strategies, 4 Ps of marketing mix and SWOT Analysis help to enhance Apples brand? Does branding allow Apple Inc to charge premium for its products and yet maintain customer loyalty? Does branding allow Apples customer to easily recognize and recall the company and its products? Does branding helps Apple to recite its products from its competitors, by gaining competitive edge? Does branding allow Apple Inc to commun icate 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 have untroubled knowledge of brand when they are asked questions related to a specific brand and they are able to enjoin a brand on the basis of having noticed or heard 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 services of one seller or group of sellers and to differentiate them from those of competitor s. stigmatization does not only allow your target market to choose your company over the competitors, but it helps in getting your prospects to see you as the only company that provides a solution to the consumers problems.It provides a companys with a perceptible and trustworthy badge of originality, an intangible guarantee, i.e. a promise of surgical procedure that the product will meet with desired 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 such as the iPod, digital music diffusion through 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 icon and TV conte nt distribution with Apple TV. The company is also establishing a very strong marketing presence relative to the rival (Google) in the advertising market, via its business Apps and iAd network. Steve Jobs, the co-Founder of Apple, described the company as be 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 Awareness It is when the consumers are well-known(prenominal) about the spiritedness or availableness of the product. It is the degree 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 genius is about life path, imagination, liberty regained, innovation, passion, hopes, dreams and aspirations, and power-to-the-people through technology. The Apple brand record is also about simplicity, making life easier for people as they have people-driven product design, and is a humanistic company with a heartfelt data link with its customers. 2.2.4 Apples Brand beauteousness According to Investopedia, it is the premium value that the company sureizes 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, mass marketing campaigns may help to create brand equity. Brand equity is said to be positive if the consumers are free to pay more for a branded product than for a generic one. Brand awareness plays a key role in building brand equity. Create reliable brand image, slogans and taglines, helps to strengthen brand awareness which therefore improves brand equity. Marketing minds (2012) also states, Since Apple has strong brand awareness, it has high sales an d high market share, and the consumers are well acquainted and familiar with the brand and its products. They are also voluntary 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 become committed to your brand, choosing it over competitors and making repeat purchases over time.) It motivates the tainter It connects your target prospects randyly It confirms your companys credibility Helps to deliver the message clearly Brand recall- It allows a customer to obtain a brand from his memory when given the product class/ year, needs satisfied by that category or buying scenario as a signal, i.e. if they are able to recall the brand from their memory. E.g. Showing a logo of Apples brand, and aski ng which brand does this logo belongs to.2.2.3 Apples brand personality As stated 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 great 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 focalize of difference, and instantly 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 tactile sensation, which indicates that it is a product tha t allows you to play and choose music through touch properties. It therefore, helps in creating an integrated 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 refer 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 familiar and aware of your companys existence in the market. Branding allows having huge make on non-customers too.Psychologists studies have proved that familia rity develops liking for it. Also, the customers who have never bought from your company, may many tomes be will 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 Premium 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 not offering.2.3.4 Extensions When your companys brand is well-established, you can spread the respect youve earned to a related new product, service or location and win acceptance easily of the newcomer. For instance, when Apple introduced a new product extension line of Ipad, the customers trusted the brand so they didnt feel reluctant and bought Ipads anyway, making these tablets quite popular of its build 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 rather 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.