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Marketing Fundamentals TABLE OF CONTENTS

   

Added on  2021-02-20

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Marketing Fundamentals
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1A.........................................................................................................................................1TASK 1B.......................................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONMarketing Fundamentals includes a process in which needs and wants of every individualor group of people create and exchange different products and services that have some value.Present study is based on the company Apple that is a American multinational technologycompany that design, develops and sells computer software and electronics and was founded inthe year 1976 by Steve Jobs. Report will include processes and stages of marketing and differentrole of marketing mix. It also includes role of marketing in creating value for customers andfurther stakeholder engagement and impact on marketing activities of an organisation. At last areflexive report is included on different communication tools that were used during thecompletion of the project(Basil, 2019).TASK 1A1. Process and stages of marketing and different role of marketing mixMarketing is a act of promoting goods and services with help of market research andadvertising so that they can create value in the market(Chaffey and Ellis-Chadwick, 2019). Stages in marketing process:-Mission statement of Apple:-Mission of the company is to make innovative hardware, software and services so thatcustomers can have best experience. Situational Analysis:-Situational analysis is a process with help of which company disclose all the opportunityand risks that can be analysed to bring competitive advantages for the firm. SWOT analysis helpsin analysing the competitive advantages with help of External and internal factors. Strength tellsthe way company differ from there competitors on basis of its unique technology, strongcustomers bond etc. Weaknesses tells where the business needs to improve and opportunity tellsabout the external factors that can bring competitive advantages for the firm like expanding thebusiness in new market can bring the scope for the business. Threats are some external factorsthat can cause harm to the firm(Elshiewy, Guhl and Boztug, 2017).Objectives of the firm:- Objective of the firm is to expand their business by selling their products to customersthat have not yet own any product of the company. 1
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To produce such products that are hassle free and customers enjoy while using theproducts.Strategy:- Apple is making strategy to expand there distribution channels so that they can reach outto all the individual customers. Company is investing in Research and development to make there products moreadvanced(Kietzmann and Pitt, 2016).. Implementation:- The strategic implementation for the Apple includes designing of new products andtaking risk that it will be lead to a successful launch in market.Control:-Apple evaluate, monitor and then track the effectiveness of the strategies implemented.Apple is famous for innovative products like iPhone, iPad etc. this is the results of balance thatApple keeps while implementing the strategy and monitoring the performance so that control canbe on market(McKay, Hopkinson and Ng, 2018). PESTLE Analysis:-Political:- Apple is generating higher corporate taxation in US where the major political issue isincome inequality.Company is dependent on China for lower cost manufacturing and there are somepolitical unrest in China that can affect manufacturing by increasing the cost.Cost of manufacturing alternative could be high for the company.Economic:-Strong US dollar can lead to increase in exchange rates and be expensive for Apple to dothere business in Europe and China(Penn, 2017).High Labor costs in China may take away the cost advantages of there various products.Social:-Growth in consumer spending will be seen in areas where people are unfamiliar withApple products like Africa.2
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