Marketing Management
Customer Value Equation of the Product
Product Marketing Mix
Product Promotion Process
Environmental Analysis
Target Market Analysis
Competitive Analysis
Global Ethical Marketing Considerations
The globe and its entire human race in the twenty first is witnessing revolution in many facets of life and technological boom in communication is one of the immense transformations that have changed the standard and ways of living. Quite a few of the technological brands and products are surging ahead even to the leading economies as well as underdeveloped and developing nations. Apple iPhone is one of those brands that have become widely accepted and well-known, and has captured numerous consumers ranging from U.S. To Europe to Asia (White, 2012).
Apple iPhone is one of the U.S. based brands that offers hi-tech communication product (mobile phone) to its customers with a wide variety of features such as games, music, videos, web connectivity and many more apart from the traditional communicating or talking and message recording facility. Due to such extraordinarily additional features and qualities, Apple iPhone has developed its image into a complete entertainment package. Apple iPhone is one of the smart phones that are a recent invention of Apple for its consumers all over the world (O'Grady, 2009).
Apple iPhone has been the U.S. brand that has progressed at a much faster pace in comparison to its mainstream counterparts in various parts of the world. Since the technological products offers uniformity in taste profiles along with cultural acceptance of upscale, it created huge opportunities for the U.S. To expand to international market as well on a broad spectrum (O'Grady, 2009).
The region of South Asia is one of the emerging and growing markets for Apple iPhone that provides them with huge opportunity to extend to this market due to numerous reasons. Even though the regions of South Asia depicts that it is an underdeveloped and developing nations, yet these market are a huge potential market that is widely utilizing the technological products and services at an accelerated pace.
Customer Value Equation of the Product
The customer value equation or proposition refers to the complete set of benefits that a customer would receive as a promise by the brand for which the consumers are willing to pay added cost to it. Form, place, time and possession are the four fundamental utilities on which the customer value is based.
The first utility of Customer Value Equation is form, which denotes the product or service offered to the consumers that is based on the needs and desires of the consumers. Looking at Apple's iPhone, it has been specifically designed keeping in view the demands of the consumers on a broad spectrum and is presented with added value services. Improved productivity is the ultimate consequence of iPhone, as the consumers have the wide channel of applications. The hardware and software specifications provide the company and its users with competitive advantage.
The second utility is the place and the convenience of availability of the product (that particularly refers to the distribution channels) and Apple iPhone is widely available at Apple stores. Indeed, Apple provides its consumers with a wide platform of its website, forums and blogs. These blogs and forums provide the users with a wide range of FAQs that aids and provides effective solutions and alternatives to the problems faced by the consumers. Moreover, the consumers can also post their queries to get the technical answers to their problems. Besides, the website is also available with extensive information for the help of the consumers.
Time (the third utility of customer value) represents that Apple has been efficient in their supply chain, which ensures the consumers that the products are delivered on time. The last utility, possession, provides the customers with the ownership of the product that allows them to obtain overall benefits. This indicates that Apple iPhone is designed to provide the customers with a high performance element.
Product Marketing Mix
The marketing mix is the comprehensive process in which the pricing, promotion and distribution is administered in the planning and execution. The marketing mix is applied in order to fulfill the organizational goals and objectives on an overall and effective manner. Based on the principles of marketing mix, the brand of Apple constantly researched the market so that they can cater a huge market as their potential target audience (Ferrell & Hartline, 2010).
From the facts, it has come to the forefront that Apple introduced the iPhone when they examined that market for smart phones is emerging. However, the potential business and corporate customers were selected as their target audience when they figured that...
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