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Fundamentals of Marketing (MKT10007)

Added on - 16 Nov 2021

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MKT10007FUNDAMENTALSOFMARKETING
Assignment3:MarketingStrategy
AppleIPhone7
100990318JessicaCartlidge.101634918VeronikaTashkovska.1014972481
-AngusLangford.101463123-JordanMcKay.NickCornetta
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ExecutiveSummery
ThisreportisanindepthanalysisoftheAppleiPhone7anddemonstratesa
basisforamarketingstrategy.Themarketplaceandinfluencingfactors,
consumersegmentationandsegmentattractivenesswereallexploredinorder
todevelopathoroughunderstandingoftheconsumersandtheiPhone7’splace
withinthemarket.Usingtheresultsofthisinformation,itispossibletoidentify
whichareasarerequiredforfurtherstudyandresearch.
Withintheresearch,thisreportspresentsanumberofkeyfindingsaboutthe
currentstateofApple’smarketingenvironment.Onethekeyfactorsarethat
Applehascreatedaloyalanddedicatedclientelewhofocusesontheimportance
ofcustomization,designandhardware.DuetoApplebeingsuchadomineering
forcewithinthemarketplace,itisunlikelythatanyothercompetitorwillbeable
tomatchApple’sprogressintechnologicaladvances,andentrepreneurship.
Furthermore,thefindingsclearlydemonstratesthattheconsumerwhovalues
aesthetic,designandpracticallyarethemostattractabledemographicforApple
totarget.Finally,thisresearchdoesacknowledgethatApplecoulduseadditional
researchtofindnewandinnovativestrategiesthatothercompetitorsare
lacking.
Itisrecommended:
ThatApplefullyinvestsandcreatessustainablerelationshipswith
theirsupplierstoavoidproductivityfailuresandthesacrificeof
qualitypartsoftheoutputproduct.
ItisequallybeneficialandimportantthatAppleputsanemphasisof
hardwareinnovationaswellastheaestheticappearanceofthe
product.Appleasabusinesshascementeditsselfinthemindofthe
consumeras,‘different’and,‘revolutionary.’
Introduction:
We,MKTMarketingConsultantshavebeencontractedbyAppletoconductand
prepareasituationalanalysisoftheiPhone7.Withinthisreport,weintendto
researchandinvestigatehowthecurrentmarket,theenvironment(microand
macro),segmentation,andtheattractivenessmaketheiPhone7desirabletoo
theconsumer.Synonymously,weshallconcludethisreportwith
recommendationsbaseduponourfindingswiththeintentofimprovingsales
andthemarketingeffectivenessoftheAppleiPhone7.
Duetotimeconstraintswewerenotabletoconductinterviewsorsurveystothe
consumersofAppleproducts,whichpresentstheprimarylimitationofour
research.However,theresearchanddatacollectedwithinthisreportare
availabletothepublicandhavereferenced.
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TableofContents
ExecutiveSummary
TableofContents
Introduction
1.TheMarketplaceandInfluencingFactors
1.1.TheMicro-Environment
1.1.1.IndustryOverview
1.1.2.TheCompetitors
1.1.3.AnalysisofotherMicro-EnvironmentPlayers
1.2.Macro-Environment
1.2.1.EnvironmentalFactorsInfluencingtheCompany
2.ConsumerSegmentation
2.1.ExplanationofProfileElements
2.2.JustificationofSegmentBase
3.SegmentAttractiveness
3.1.SizeandGrowth
3.2StructuralAttractiveness
3.3.CompanyObjectivesandResources
3.4.MostAttractiveSegment
4.RecommendationsforAdditionalResearch
4.1AdditionalInformation
4.2PrimaryInformation
4.3ResearchDesign
Recommendations
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Section1:TheMarketplaceandInfluencingFactors
1.1:TheMicro-Environment
1.1.1:IndustryOverview
AppleisaUSbasedmultinationaltechnologycompanythatproducesawide
varietyoftechnologicalproducts,suchastheAppleiPhone.Appleisdescriedas
theleadingdigitalmanagementassetscompanyduetoitsabilitytoallowusers
toaccessaninfinitenumberofsongs,applicationsandgamesthroughappstore
andiTunes.(Jeynes,R2013)Appleprovidesarangeofproductssuchasmusic
streamingandsharingservices(Applemusic),technologicalproducts,suchas
theiMacsandMacBook’stoentertainmentproductslikeiPads(Apple,2017).
Adiagramhasbeenprovidedbelowtodeterminethescopeoftheindustryin
whichappleoperates.
Asshown,Appleisinvolvedinthetechnologicalindustryandin2015generated
$233.7billiondollarsinrevenue,twothirdsofwhichwasgeneratedbytheApple
iPhone.(Bowers,AEtal.2017)Applecompetesinamarketwithahighdemand
fortechnologicalproductssuchassmartphones,computersandentertainment
devices.AswemoveintotechnologybasedworldAppleneedstoworkharderto
comeupwithnewinnovativeideasthathavenotyetbeenseen,thereforeitis
necessaryforAppletoinveststronglyinresearchtohelpdeliverfuture
developments.(Deloitte,2017)Apple’sproductsrelyheavilyontheinterlocking
ofsoftware’s,whichsetsthemapartfromothercompetitorsintheindustry,such
asSamsungElectronics.ApplealsousesuniquefeaturessuchasiMessagewhich
allowsforaneasierwaytomessageotheriPhoneuserswithoutusingphone
credit.
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