Analysis of Marketing Strategies and Studies
Added on 2020-07-23
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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3P1 Explain key roles and responsibilities of the marketing function. .......................................3P2 Explain how roles and Responsibilities of marketing relate to Apple Inc. ..........................5TASK 2 ...........................................................................................................................................6P3 Compare the ways in which different organizations apply marketing mix...........................6TASK 3 ...........................................................................................................................................7P4 Produce and evaluate a basic marketing plan for Apple Inc. ...............................................7CONCLUSION ..............................................................................................................................9RECOMMENDATIONS................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTION Marketing is a strategy which is used to gain attention of customers in order to bringproductivity and profitability to an organisation. One of the most prominent aspect of thebusiness management is marketing. In addition to this, marketing principles commonly known asfour Ps of marketing are the building blocks of the strategy. Marketing is the procedure ofbranding the products and services in order to create their recognition in the market and to gainthe attention of the core and potential customers. Marketing managers are the most importantpart of any organisation, they are the one who have appropriate knowledge regarding each andevery aspect of the brand and its products. Organisations use various marketing strategies to earnthe recognition in the market; Apple is one of the most top leading brand and it tremendouslyfamous among each and every age group of people. The focus of this assignment is to identifythe role of marketing strategies, principles and concepts of marketing and relationships ofmarketing functions. TASK 1 P1 Explain key roles and responsibilities of the marketing function. One of the most important aspect of any organisation is marketing strategies used bythem in order to gain the recognition among the customers and to maintain the sustainableposition in the competitive grounds.Apple is one of the most recognisable and top leading brand, its profit sharing ratio isvery high in comparison to other similar organisations. The products of Apple are very popularin whole world, it sells its product worldwide through various means like retail stores or onlineor direct sales force (Khan, 2015). The products which are offered by Apple are, I phone, Mac-book, Laptop, Apple watch, Apple TV and many more. It is one of the most popular brandacross nations because of the high quality of products and services provided by them to theircustomers.Marketing functions can be broadly defines as the measure which organisations take inorder to release their product in the market or to reinvent the popularity of the existing productsand commodities (Arunachalam, 2018). In case of Apple Inc., the organisational heads are veryefficient in making the brand one of the most desirable one. The key role which is played by themarketing unit of Apple Inc., is distributed into following factors: Distribution Channel
It helps in analysing; how company will get the products and services which they want to sell totheir customers. Creating an idea about the product is good for business, but it is important forthe companies to reach that product in order to sell those to their customers, the distributionchannel of Apple Inc., is very huge as it serves its products and services in almost each andevery area of the country (O'Hare, 2018). Financing an Enterprise Money is very essential part of the business and the overall revenue and profits of Apple Inc., aremore than any other organisation due to its high popularity and brand recognition in the wholecountry. Money, budget, capital and revenues are the most important aspect of any businessorganisation, because this factors are the building blocks of the competitive companies (Griffinand Ebert, 2010). Setting PricesThe marketing units also plays very important role in taking decision regarding the prices ofproducts and services. Apple Inc., follow a premium pricing strategies, because the status andthe recognition of their brand. The popularity and the recognition of Apple is very huge in wholenation. Product and service ManagementApple Inc., is very popular brand and they charge very high prices from their customers; so it isvery important for them to provide an effective and efficient product to their customers. It is veryessential for such organisation to acknowledge the needs and requirements of their customers inorder to gain the competitive advantage. Matching Product to CustomersThe products and services offered by Apple Inc., is for individual of each and every age group.They design their products in such a way that, it attracts the attention of people of every agegroup. While on the other hand the role of the marketing function is to promote the mission andobjectives of the business among the core and potential customers in order to achieve thecompetitive edge of the company. Apple Inc., offers various kinds of the products to theircustomers, it includes Mac-book, I phone, iPad, iPod, Apple TV, Apple Watch and variouskinds of the Software(Kanagal, 2015). These Apple products currently available in the marketshow the firm’s diversification in this component of the marketing mix. However, as part ofits
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