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Marketing Fundamentals: Assignment (Doc)

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Added on  2021-06-17

Marketing Fundamentals: Assignment (Doc)

   Added on 2021-06-17

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MARKETINGFUNDAMENTALS
Marketing Fundamentals: Assignment (Doc)_1
1ContentsINTRODUCTION.................................................................................................................................2Back ground of the company.................................................................................................................2Situational Analysis...............................................................................................................................3External forces and changes in the marketing....................................................................................3SWOT analysis..................................................................................................................................4Competitive Analysis............................................................................................................................5Consumer Buyer Characteristics...........................................................................................................7Target market, Positioning and Branding analysis.................................................................................8Segmentation.....................................................................................................................................8Marketing mix of Apple........................................................................................................................8Product strategy.................................................................................................................................8Pricing...............................................................................................................................................9Placement strategy.............................................................................................................................9Marketing/distribution channel strategy............................................................................................9Promotion strategy.............................................................................................................................9Extended mix...................................................................................................................................10CONCLUSION...................................................................................................................................10REFERENCES....................................................................................................................................11INTRODUCTIONIn the modern era of business, it has become essential for the organisations to make sure thatthey have an effective marketing plan for their business (Agrawal, Atasu & Van Ittersum,2015). Strategies related to marketing must be based on the analysis of the environmentaround the business of the firm. Both competitor and situational analysis needs to be so as tohave complete idea about the performance of the firm’s own product. It is also crucial for the
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2firm to make sure that they have a clear understanding of the consumer’s buyercharacteristics. Strategies like targeting, positioning and branding as well as marketing mixcan help in increasing the effectiveness of the marketing plan. Apple Inc. is one of the biggesttechnology firms that are operational in all around the world. This report highlights thedifferent aspects of marketing related to Apple Inc. The environmental analysis along withthe competitor’s product comparison has been done. It also provides strategies of thecompany like the STP and marketing mix. Apart from this buying behaviour of theconsumers has been showcased.Back ground of the companyApple is one of largest technological giants that are present in the Industry. It was establishedback in the year 1976. It deals in the business of designing, developing and selling ofcomputer software, consumer electronics and other online services (Backer, 2013). In manyof the products that are produced by this company, IPhone has been selected for the review asit has been one of the major products of the company and has played a major role in itssuccess. Situational AnalysisExternal forces and changes in the marketingThere are many types of changes that are going on in the marketing environment. Some ofthese changes that are having impact on the both consumers and marketer’s behaviour is asfollows:Competition: There are many bigger firms present in the industry and they are posingthreat to market growth of the company. This has forced the marketers of Apple torethink about their marketing plans (Bergvall-Kåreborn & Howcroft, 2013). On theother hand it has empowered consumers, as they have lot of options to choose from.Changing trends: Since the trends in the market are changing at very fast speed andhence it has become difficult for the company to make alterations as per this changingtrend. While consumers have larger options to make decisions as they can selectproduct as per their requirement.Apart from this there are many forces that are directly or indirectly impacting on theenvironment of the firm. They are as follows:
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3Political: In many regions of the world political instabilities have been noticed. Thechanging policies and tax rules in various parts of the world has made businesstougher for the multinational firms like Apple Inc. Governments have become verystrict on the ways in which technology industry is performing as they have closewatch on the non-ethical practices present in the industry (Cunningham, 2014).Economics: Another crucial factor that is influencing the marketing environment isthe changing global economic condition. In many region of the world economicinstabilities have been noticed. The downfall of the European market after 2009 andthe slow growth of the American economy has made the successful marketingprocesses bit difficult.Social: Society has emerged with new set of demands. With the amount of optionsavailable with them, it has become crucial for Apple to make sure that they have madeinnovations in the products so as to have a successful marketing campaign.Technological: Both the technology with which this company is dealing as well as theproduction technology has changed a lot in the past few years. In almost every sixmonths technology gets advanced by two times than what was present previously.Marketing has also taken digital means and making advancements in the technology isa costly affair hence they need to have proper selection of technology so as to haveedge in the market (Love, 2016).Legal: A great sort of changes has been noticed in the legal norms of business. Firmlike Apple which is has to deal with such a wide range of laws in different regions ofthe world has to comply with all these more carefully. This is applicable to marketingalso where the false marketing can lead a company to facing of serious legal issues.SWOT analysisIt is also crucial that a company understands its internal environment as they have the sameimpact on the business of the firm as the external factor had. SWOT analysis of Apple:StrengthsHighly talented workforce especially in the department of research.Higher brand name in the market.Many disruptive innovations in the past.Operations in many parts of the world having such an excellent supply chainmanagement (Gershon, 2013).
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