Topic 5 marketing plan analysis part 2 PDF

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Summary

Part 2 of marketing plan analysis on Apple Inc....

Description

Marketing Plan Analysis and Presentation: Part 2 – Research Template Directions: Using the company and research sources from the Topic 2 assignment as a starting point, conduct additional research to acquire information related to consumer behavior, product or service, and price associated with the company you selected. In the “Research Summary” section, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company marketing objectives and business needs. Information to be Researched Describe the customer segments and target markets.

Describe characteristics of the target markets that will affect product/service and pricing decisions.

Describe how the company differentiates its product and positions its brand.

Research Findings

Resource Citation Information

Apples target customers are well off https://research-methodology.net/apple-segmentation-targeting-andindividuals who do not mind paying positioning/ more money for technology with extra functions and advanced designs. Quality is more important to Apple https://marketrealist.com/2014/02/apples-premium-pricing-strategyproduct-differentiation/# buyers than money. Apple has a track record of producing goods that meet or exceed customer expectations. Customers will "forget" the price they are paying because of this top characteristic, instead remembering the dependability and value that comes with purchasing an Apple product. Apple is distinct in every way. https://articles2.marketrealist.com/2014/02/apples-premiumpricingTheir branding is straightforward strategy-product-differentiation/# and appealing to all, and their advertising is distinct from that of competitors. It's high-end branding that matches their high-end products. One example is that they © 2019. Grand Canyon University. All Rights Reserved.

Describe a consumer buying behavior model for this company and brand.

Describe the product mix.

Describe the product lines.

do not include pricing in advertisements, instead allowing their product to speak for itself. This serves to divert the customer's attention away from the amount of money they will pay and toward the product and its quality. Unlike most companies, Apple has concentrated on perfecting a small number of distinct goods. Focusing on such a small volume has allowed them to set the price they have and concentrate on the high-end market. When applying Maslow's Hierarchy Needs Theory to Apple, the second level of the paradigm, esteem, is a suitable fit. Returning to their highend products, customers gain selfesteem by being able to declare they own something Apple. Some people admire Apple because of their products and marketing techniques. This boosts the company's reputation. Apple sells things that are useful in today's technology world. For their customers, their mix includes consumer electronics, technical knowledge, and web services. Electronics are the main focus of their product line. They sell iPhone, iPad, Macbook (air & pro) accessories, Apple TV, Apple

https://lc.gcumedia.com/mkt315/marketing-anenterpriseview/v2.1/#/home https://mpk732t22016clusterb.wordpress.com/2016/07/31/howcould -apple-get-success-an-analysis-of-customer-behavior/

http://panmore.com/apple-incmarketing-mix-4ps

http://panmore.com/apple-inc-marketing-mix-4ps

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Describe the service processes. Discuss physical evidence of service, service scape, and ambiance.

Discuss the roles of

Watch, iCloud, Air Pods, Home Pod, iPod, software, and digital content, as well as Apple TV, Apple Watch, iCloud, Air Pods, Home Pod, iPod, software, and digital content. This amount of goods may be minor in comparison to other businesses. Apple has made it a priority not to take on too many goods and instead to focus on enhancing the ones they already have. Apple offers service for all of its products. Since Apple manufactures electronics, this primarily consists of product repairs or setup. Apple's physical evidence is the value of the items they create. They've built a reputation for excellent branding and trustworthy gadgets. Their businesses (their service scape) all across America have a welcoming atmosphere that makes you feel at home. Their branding is carried out in Apple stores, which have a similar cleancut design (ambiance). Even if you have no intention of purchasing new Apple products, it is nearly impossible not to stop, walk inside, and experiment with the various products if you pass an Apple store. Apple personnel are responsible for

https://support.apple.com/repair/products

https://yellowcatdotblog.wordpress.com/2018/06/03/applesextendedmarketing-mix-physical-evidence/

https://www.apple.com/jobs/us/teams/salesand-business3

company employees in service delivery.

Define the company’s pricing objectives and discuss whether the objectives are profitor sales-oriented.

Provide an example of current company pricing strategies.

Describe pricing tactics (discounts, etc.) that are used to

providing service to anyone who requests it. They don't stop there; they want to not only assist, but also build a relationship with you that will result in repeat business. The goal is to support consumers in every way possible and to make working at Apple more than simply a "job." Apple creates goods that are dependable, with constant software upgrades, product services, durable hardware, and much more that sets them apart from the competition. These are profit and sales-oriented goals. The main purpose is to increase sales, and Apple benefits from high-end prices. Premium and freemium pricing are two pricing models used by Apple. Apple's premium price corresponds to the company's premium products. Because Apple's product is of superior quality, it is more expensive than most. The advantages of free and premium are combined in freemium pricing. Apple offers free promotions that can be upgraded to premium for a fee. Apple does not offer discounts on its products as a rule. They realize how much their things are worth

development.html

https://www.igeeksblog.com/apple-pricing-strategy/

http://panmore.com/apple-inc-marketing-mix-4ps

https://marketrealist.com/2014/02/apples-premium-pricing-strategyproduct-differentiation/# 4

drive short-term demand

and sell them for that. Customers can visit Apple stores all throughout the United States to purchase products. Apple provides a minor wholesale discount to stores like Walmart and Best Buy, but not enough for them to offer Apple products at a significant discount. Their strategy is to sell for fair market value, which works for them. They release new products on a yearly basis, and their customers are always looking forward to what's next.

Research Summary: In 250 words, discuss how the company could use these types of research findings to develop a marketing plan in order to meet the company's marketing objectives and business needs. Even if you're an established business, it's always a good idea to make sure you're still on your customers' minds. After performing research, Apple appears to be at the top of their game, producing high-quality products that meet the demands and desires of their customers. Conducting customer surveys to guarantee that this continues is a good approach to ensure that everyone is satisfied with the services given. This can also assist in determining whether the target market remains the same. Ten years ago, the target market might have been between the ages of 15 and 25. That market may have altered now that those clients have grown older and changed, implying that their demands have changed as well. Using a secure survey to collect demographic data can assist determine whether the age group is still 15-25, or whether it has shifted to 25-35. If this type of buyer is still looking for Apple products, the market may have matured. Business advertisements for product promotion would be an effective technique to capture the attention of a market that has evolved and expanded in their everyday life. It is possible that placing the product in an office or work from home environment will improve sales. Conduct a pricing survey to see if the target market can still afford high-end products in their everyday lives. What was once a simple purchase may now be more difficult due to life's changes, such as starting a family. Apple wants to make sales, and the profits are a benefit because of the high-end prices. It may be helpful to adjust prices to make them more reasonable for their longterm clients. If you reduced the price of the latest iPhone by $100, younger customers who are now older might be able to afford it. This will raise sales, which will, in turn, provide the profit the company requires to continue on its path to success.

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