Market Segment and decision making on Apple company

Added on - 17 Dec 2019

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Market Segment and decision making on Applecompany1
TABLE OF CONTENTSINTRODUCTION...............................................................................................................................3TASK....................................................................................................................................................31. Brief description of the industry market for Apple Company and evaluate current trends........32. Describing the nature of competition in industry........................................................................43. Outline and examining the major market segments for Apple Company....................................54. Discuss the level of involvement of Apple Company primary segment.....................................65. Creating a positioning map for the market place by considering primary segment, its level ofinvolvement and the competition.....................................................................................................7CONCLUSION...................................................................................................................................8REFERENCES.....................................................................................................................................92
INTRODUCTIONMarket segmentation is a procedure of dividing a broad customer segment into sub-groupsof consumers. Under this, it assumes that various market segment needed several marketing eventssuch as offers, promotions, prices etc. It becomes important part of organizations because in most ofthe cases, buyers of the companies are non homogeneous groups. The reason of this is everyconsumer is having diverse needs and requirements (Wede and Kamakura, 2012.). On the basis ofthis, their preferences and buying behaviour becomes change. The present research is based onmarket segment and decision making and to understand its importance, Apple Company is takinginto the consideration. Objectives that will highlight under the following study are brief descriptionof the industry market for Apple, nature of competition of the selected industry; examine the majormarket segments of the cited company, level of involvement primary segment in decision makingetc.TASK1. Brief description of the industry market for Apple Company and evaluate current trends.Smart phone penetration is on the peak just nine years after the launch of the firsttouchscreen phone. The commercial and societal impact which smartphone had, no other personaldevices are able to do that. Upgrading mobile signalling to 4G technology has influenced sales ofsmartphone and becoming very popular among the consumers. It is having a direct effect on thesales of feature phones. Consumers using feature phones are very easily switching to smartphone ata very low unit price in the recent years (Kantarelis, 2010.). The consumers are not giving priorityto the quality and not including it in their decision of purchasing. The market experts forecasts thatsales will continue to increase year on year and global slowdown will not affect it.According to the leading market analyst GFK, the UK smartphone market will “ buck thetrend” over the next two years. GFK predicts that UK will overtake as the fourth most valuablemarket this year. UK is bucking the trend a little bit as compared to the other market, majorlybecause of the powerful economic environment and high consumer desire for the smartphone. Themarket of UK also face a rush in 4G acceptance over the past 12 months. There has never been ahigh requirement for quick, uninterrupted connectivity. The speed of mobile networks mean thatconsumer's dependence on Wi-Fi will lessen until fixed line network speeds better. It is forecastedthat smartphones will not have the condition as tablets (Arunotayanun and Polak, 2011). The salesof smart phones are likely to remain in the current phase. Globally, there have been some clearsharp slowdowns but UK is neglecting the worst of that trend. The statistics show that in 2016 46%of the users had an Apple iPhone. The current trends in this industry which Apple has to consider3
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