Apple Inc is a top performing company in manufacturing of electronic devices. Apple's prowess is attributed to its financial base, high quality and marketing strategies in the market. The UK market is favorable for Apple products based on well established brand portfolio. Apple depends on brand loyalty to sell their products. The paper gives a brief background research of Apple Inc, Mission, vision and objectives, their strategy, targeting and marketing mix. The company seems to do well however, very few users have the opportunity to purchase their products. The company products are heavily priced meaning that company needs to adopt a strategy that would subsidizes for more customers to purchase.
Table of Contents
Executive Summary. 2
Introduction. 3
The UK Market Environment 4
Mission, vision, objectives. 4
Mission Statement 4
Vision Statement 5
Objectives. 5
Strategy. 6
Creating a sustainable brand loyalty through innovative complimentary products. 6
Segmentation, Targeting and Positioning. 6
The Marketing Mix. 7
Product 7
Promotion. 7
Price. 8
Place. 8
People. 8
Process. 9
Relationship Marketing. 9
Sustainability. 9
Recommendations. 10
Conclusion. 10
References. 11
Introduction
According to Dudovskiy, J. (2018) the electronic devices industry is a competitive world where companies need strategic marketing activities. Apple is a market leader in terms of innovativeness given that it has a huge advantage over its competitions. The business thrives in a good financial ability and an excellent brand name. Apple has positioned itself for success given that it can adapt to the changing environment through effective use of cloud. Bradshaw, T. (2017) adds that it enjoys a loyal customer base through the growing demand for smart phones. The management is aware of competitive rivalry that not only comes from technological advancement but also uncertainty in economic conditions. External pressure also comes from regulatory bodies hence the company needs an effective marketing strategy to overcome challenges in its operation management (Moorman C. 2018). The subject on this paper features on marketing strategy of Apple Inc.
The UK Market Environment
According to statistics, the market share for iOS in the United Kingdom (UK) by May of 2018 was at 52%. Besides main devices, apple has more electronic consumer goods that vary with digital environments. The performance for smartphones has grown in the UK market over the years. The at the UK Apple targets young users whose reasons for buying a phone is to take advantage of its functionality. In many occasions, people purchase new forms once in five years for genuine reasons such as; breaking down of an old one or need for up to date device. Apple is known to frequently launch new models that are in line with current technologies. The UK market is lucrative since young people and professionals like to be associated with the best. Although apple is among the leading brands in the UK, competition is stiff hence it forces the company to introduce new marketing strategies (Statistica , 2018).
Mission, vision, objectives
Mission Statement
Apple mission statement is to be the most valuable business in the word. The company is considered a symbol of innovation and elegance in the electronic world. The mission is incorporated into the functions of the organization including employee support. The company considers the changes in the environment that has impact on the business. Apple understands the effect of the changing market and the industry environment. The current mission is to design Macs as the best personal computer in the world in conjunction with iWork, iLife, OS X and Professional Software. Apple leads in the digital music revolution with its iPods and iTunes online (Rowland C, 2018)
Vision Statement
Apple’s mission influences strategic management based on decision making from the managers. Rowland, C.( 2018) reports that Apple introduced a new mission statement that states that “we believe we are on the face of the heart to make great products and that’s not changing. We are constantly focusing on innovation. We believe in the simple, not the complex. We believe that we need to own and control the primary technologies behind the products that we make and, participate only in markets where we can make significant contribution, We believe in saying no to thousands of projects, so that we can focus on few that are truly important and meaningful to us. We believe in deep collaboration and across-pollination of our groups which allow us to innovate in the company, and we have the self-honesty to admit when we’re wrong and the courage to change.”
Regardless of who is in what job, these values are so embedded in this company that apple will do extremely well (Rowland, C. 2018).
Objectives
Apple has two main objectives; one is to build hype and anticipation for new upcoming products. The aim of this objective is to ensure consumers can anticipate the company’s next launch. The second one is to sustain and expand on strongly branded name. Through this objective the company has kept changing the look of its phones and tablets to meet the needs of the consumers (Burnete, B. 2015).
Strategy
Creating a sustainable brand loyalty through innovative complimentary products
A number of strategies have been applied by Apple to maintain a competitive advantage in the market. The company has majored in creating a sustainable brand in the market. The controlled brand portfolio has led to uniformity in product performance. An iPod and iPhone is linked to iTunes and the App Store. The MavBook is sleek and attractive same case to the user interface. The overall apple brands are developed based on simplicity. The Apple ID is a component that allows users of other products to access new devices. The Apple ID is a form of Digital identity needed to gain unlimited access to different apple devices which creates a seamless transition (Burnete, B. 2015).
Apple products are known to create a halo effect since each product complements another. Consumers find this attribute convenient making Apple phones popular . The company has a pool of loyal consumers, and most of them tend to purchase devices that are within the apple brand. The sale is complimented by a blend of the Halo effect and the brand loyalty. The company strategizes through promotion and development of products (Dudovskiy, T. 2018).
Segmentation, Targeting and Positioning
Kesi, (2017) says the smart phone is a lucrative market for apple given that the demand in the market is growing. The usage of apple products is based on its high-technology abilities. Professional use and learning is the two most applicable areas. Apple takes into account the needs of the youth and especially students. Apple applications are very useful in teaching and learning hence this is its target group. The selected group has been noted to value status and brand prowess. Apple’s competitive advantage is sourced from its design. Loyal customers of its brands are mainly editors, digital video producers, and graphic designers. The marketing strategies used for Apple brand comes with a differentiation factor achieved through positioning (Greenspan, R. 2018)
The Marketing Mix
Product
Kesi, (2017) believes Apple adopts a strategy that aims at ensuring the best products are released to the market. The anticipated products are expected to offer the best user experience after the launch. The catch is not just offering them but also those that are desired. Yeung, N. (2018) asserts that the driving force behind every launch is “intuitiveness” and “simplicity.”Mac personal computer was the company’s first product. Subsequent creations include the iPod which as a portable music player. The most recent products are the ipad, iphone and Apple TV. Possessing an apple product comes with excitement and pride based to the quality and usage. The company’s latest innovation is the smartwatches (Greenspan, R. 2018).
Promotion
Promotion of brands at Apple fosters simplicity as it believes that flashy creations make it look too mainstream. The messages communicated match the emotions evoked by the brand. Through promotion, apple consumers take pride in associating with the best, socially superior and living one’s dream. Promotional attributes are based on sharing information about its features. Apple products seem to do well in the UK market which is attributed to the Promotional Alliance carried out in this market. This was a move that allowed the company to link some of its products such as the iTunes with other companies like Coke. Music lovers were able to download music free of charge (Greenspan, R. 2018).
Price
Apple uses the premium pricing strategy where it does not have to compete with other players. The strategy is effective given that the company concentrates on high-end products. Despite the high amount for the products, customers are willing to pay to achieve quality. There have been critics in the market as expected claiming that the company is at risk of losing its tablet to upcoming competitors. Apple’s iPhone dropped its price to $200 immediately after launch. Theshare dropped as well with analysts believing that the company would not stand the competition (Greenspan, R. 2018).
Place
Apple has established online stores, retail outlets and dealers. Initially, Apple anticipated developing a hybrid distribution strategy due to poor customer service by local dealers. The strategy was aimed at protecting the image of the company. The company has a well established supply chain which is the basis its success in the market. The business relies on a network of suppliers around the world (Greenspan, R. 2018).
People
The company’s workers are motivated for being associated with the best. The standards were set up by Steve Jobs who left a legacy. The fact that the company brings change in the electronic industry is a motivating factor. People like to be associated with change. Apple takes pride in offering the best environment for their employees (Greenspan, R. 2018).
Process
Apple keeps a low profile regarding the source of their innovative products. The products pass through the company’s standard processes that encompass, design, testing, evaluating and packaging. The first instance in the process involves creating a dummy which is to go through a series of tests by experts. After a thorough evaluation, a standard product is created (Greenspan, R. 2018).
Relationship Marketing
The value added into products and services does not have to be associated with customer satisfaction alone. The objective is to raise the level of expectations through technologically savvy creations. Through similar creations, it shows that apple values its users. Apple is a highly ranked electronic company in terms of user experience given that it delivers value for their customer’s money. The company offers free training to the customers in a bid to make good use of the devices (Greenspan, R. 2018).
Sustainability
Apple takes part is social responsibility activities that benefit the community and the environment. Apple anticipates the use of renewable energy to perform various functions of the organization. The business has complied with environmental regulations by adopting acceptable packaging. Apple has partnered with conservation fund to assists in taking care of the environment. Through this move it was listed as the top environmental friendly company in the world. Harmful chemicals are avoided by the company during manufacture of their products. The company has stipulated regulations that are environment sensitive to be adopted by suppliers (Bradshaw, T. 2017).
Recommendations
The devices of apple are quite expensive in the market, and only a few consumers can afford it. Many people opt for other similar devices even though they would love to own apple products. The Prices of an iPhone or MaCBook Pro go for even three times the similar products in the market. Apple can consider reducing prices to considerable amount for its products in order to maintain brand loyalty in the market.The products of apple are quite expensive in the market, and only a few consumers can afford it. The profits will also increase since more products will be sold after every given launch.
Conclusion
Apple is considered a market leader in manufacturing of electronic devices. Apple is treasured for innovative products that are of high standards and quality. Through its marketing strategies, Apple has remained at the top. Apple benefits from brand loyalty that has been built over the years. Customers seem to trust apple products more than other competitors. Each product launched in the market has brought positive comments. Although the business is the leader in the market, the pricing strategy needs to be reevaluated given that more people would love to own their devices but lack adequate finances to. Apple products are functional for learning and professional use given the features and overall design.
References
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