Contemporary Marketing Issues: An Analysis of Apple Watch's Market Mix

This report provides a detailed analysis of the marketing mix employed by Apple for its Apple Watch product. The introduction defines marketing and its importance in customer relationship management, emphasizing the role of customer satisfaction and the application of various marketing theories, including the marketing mix. The main body of the report delves into the 7 Ps of the marketing mix (Product, Price, Place, Promotion, Process, People, Physical Evidence) as applied to the Apple Watch. It examines the features and benefits of the product, its pricing strategy, distribution channels, promotional activities, the processes involved in marketing, the target audience, and the impact of physical evidence on customer perception. The analysis highlights how Apple leverages its brand value, direct selling approaches, and social media for promotion. The report concludes by emphasizing the importance of a well-defined marketing strategy for maximizing sales, improving brand value, and expanding the customer base. It underscores the need for continuous evaluation and adaptation to maintain a competitive edge in the market. The report also includes a list of relevant references, citing academic sources and industry publications.

Contemporary marketing issues

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
Market mix of Apple watch.........................................................................................................2
CONCLUSION................................................................................................................................4
REFERENCS...................................................................................................................................6

INTRODUCTION
Marketing refers to the management of exchanges of relationships. It is a process carried
out to attract customers which can by creating a customers relationship this is built up by
providing a satisfaction to the customers which build a relationship which develop a long term
customers. Marketing is done in order to satisfy customers. Marketing is a key concept of
business management. Customer support helps in the management of the organization which can
help the business to flourish. It is an interconnected process which is done to achieve customer
interest and satisfaction. It is exchange of process which aims in satisfying customers. It is a
management process which is responsible for identifying the customers, anticipating with the
marketing strategies and selling the product with the aim of earning profitability. Marketing is
done with the to bring a product to the market and establishing it to the market to earn value
added profits. This is done with the help of broad market research and establishing the product
with good profitability in the market. Theories of marketing product is the theory which is
applied in the marketing process which are made with the aim to evaluate out the marketing
through various processes. Various theories of marketing are Ansoff's matrix, Balanced
scorecard, Marketing mix, SWOT analysis, Stakeholder mapping etc. these are done with the
aim of developing a strategical process with the aim of developing the balanced scorecard which
helps in the development of the business comparing all the measures which helps in the all round
development of the firm which helps in the profit generation of the firm. Vision and strategy are
are built with aiming the objectives, targeting the segments, comparing various measures and
applying it to improve various business strategies.
Marketing mix refers to the theory which helps in the evaluation of various key points
which helps in the marketing of the product which generates all round evaluation of the products
and a strategic approach of the product to install in the market. Marketing mix consists of 7 P's of
marketing that are:
 Product
 Price
 Place
 Promotion
 Process
 People
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 Physical evidence
which provides an all round evaluation of the upcoming product with the help of marketing
strategy.
Apple is an American multinational company whose headquarter id in Cupertino,
California. Apple designs, develops and sells consumer electronics which computers, tablets,
mobiles, mobile accessories, computer software and online services. It is one of the largest
technology company in the world. Apple was founded by Steve Jobs, Steve Wozniak and Ronald
Wayne in April 1976. it was developed with the aim to build a computer technology in January
1977. revenue generated by Apple is around $265.59billion with around 132000 employees. It is
the largest technological organisation of the world which provides services across 195 countries
of the world. Apple is well known for its size and revenue generation. It is the first public
company which have a public turnover of $1trillion. It is worlds third largest mobile phone
manufacturer.
MAIN BODY
Market mix of Apple watch
Marketing mix of Apple watch is carried out with 7p's of marketing which evaluates out the
various procedure which is carried out after the generation of product. It is carried out with the
aim to develop a market strategy by Apple(Parsons, Maclaranand Chatzidakis, 2017).
Product-This was made with the awareness of the people. Apple watch consists of various
features which was build with the aim to provide users with a various features which can help
user with sustainable platform(Prior and Keränen, 2019). Apple watch consist of features like
applications which can be accessed through wearables, various payment modes are available
with Apple watch which can give easy access to the users, it also provides a platform to access
social media applications like use of Facebook, Instagram etc. it also have features like
geofencing and iBeacons which are developed for the users benefits. It is made with the aim to
prevent theft and robbery. This also features healthy lifestyle features which are use to create a
health awareness between people. It creates a track of healthy living and healthy lifestyle. This
product was developed with the aim to develop healthy living and for the east access for the
applicable practices(Gbadamosi, 2019).
Price- Apple watch has a higher pricing this is because of the features which are given out are
extra ordinary. It was build with the aim to provide an awareness for the customers and to
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provide an easy access for customers(Brodie, Hollebeek and Conduit, 2015). This is examining
the various strategies to reduce prices as the product are still for the use of market. Sometimes
we need to lower the price which can be used to develop customers. Many of the prices strategy
are used which is more than the value of the product which directly results in the loss of
customers. Terms and conditions need to change as per the requirements of the customers. Price
needs to be adjusted if the market sales decreases which can help in the form of offers(AGU,
2019). By spreading process over a period of months market can be achieved sales can be
increased. Sometimes product can be mixed with services like extended warranty which can help
in the generation of the sales.
Place- It is the place of promotion which can be used for the sales and promotion of the product.
It defines the price of the product which helps in the promotion and sales(Engelseth and Jafari,
2018). Develop the habit of reviewing and reflecting upon the exact location where the customer
meets the salesperson. This can lead to increase in sales of the product. Some company uses the
direct selling approaches. Apple never uses any promotion strategy as the sales of the product is
defined by the brand value and the brand name of Apple which in turn gives rapid increase in
sales. Apple is an organization which is spread worldwide. Its products are delivered worldwide.
A direct selling approach is carried out by Apple. Apple directly transfers its order from
company to the retailers and ventures which are located worldwide. A direct setting strategy
must be used(Foroudi and Palazzo, 2019).
Promotion- promotion is the way to tell the customers which are required to promote the
product. The promotion needs to be done in order to make the customers aware about the
product. It consists of use of various social media platforms which are used to evaluate the
features which can attract the customers. A proper promotion strategy will lead to the increase in
the result of the product. Promotion of the product is done in order to change the results of the
sales(Upadhyaya and et.al, 2017). This is done to target a segment of people which can buy the
product. Promotion strategy depends upon the area which needs to be targetted. Social media is
the best source for the promotion of Apple watch which can be used to cover a vast group of
people in the promotion. Through promotion an evaluation of the products can be done which
defines the sales of the product.
Process-This includes the process which is carried out in order to maintain the marketing
function by Apple(Unions, 2019). Various process are carried out form the development of the
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product to its sales and after sales processes. This processes includes development of the strategy
to build the product and to facilitate the market with the help of market strategy to bring the
product in the market. The development of the product is carried out by the research process
which aims to develop the product as per the needs of the market. This includes market research
which can be done in order to bring out market need into reality. Various processes are carried
out under this section which can bring sales of the product. Packaging and delivery also needs to
be taken under consideration(Alon and et.al., 2016).
People-It refers the segment of people which are targeted for the sales of the product which can
bring the success of the product. It aims to build up the sales policy which are carried out on the
targeted section of people. Various sales strategy are developed for the generation of the sales
targeting the segment of the people. A right set of people must be targeted by Apple for the
development of sales of the watch. In many cased if the segment of people are not targeted the
sales would not be possible. In order to increase sales a section of people must be targeted.
Physical Evidence- This refers the impact of the product in the heart and minds of the people
this is dependent on the promotion strategy(Grima and Thalassinos, 2018). What people thinks
about the product and how they react about the product can help to evaluate the success and
failure of Apple watch. Physical evidences are the responses which are carried out for the use of
the product. Critical evaluation can be carried out and to increase the sales of the product.
Physical evidence are used to increase the aftermath of the product and increase the sales by
applying various strategies.
CONCLUSION
The above studied carried out will be beneficial for the generation of sales and promotion
strategy for Apple which can bring about the development of the sales and marketing strategy
including the macro and micro factors which can help the organization to generate a market
strategy so as to target more of the customers. This marketing strategy is helpful for the
development of the marketing strategy which can help Apple marking mix can help in the
development of the Apple as promotion strategy is created with the help of market mix which
can be done to generate a correct promotion strategy targeting the right choice of people. With
the strategy developed it will help in maximising the sales and promotion of the marketing.
Targeting a right section of customers will help in the development of the sales with the increase
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in sales will improve the brand value of Apple. The product developed must be tested
eliminating various errors which will lead to decrease in sales.
Marketing strategy will help Apple in increasing the sales of the product increasing the
customer base.
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REFERENCS
books and Journals
AGU, A.G., 2019. ISSUES IN CONTEMPORARY MARKETING EDUCATION. International
Journal of Information, Business and Management. 11(4).
Alon, I and et.al., 2016. Global marketing: contemporary theory, practice, and cases. Routledge.
Brodie, R.J., Hollebeek, L.D. and Conduit, J. eds., 2015. Customer engagement: Contemporary
issues and challenges. Routledge.
Engelseth, P. and Jafari, H., 2018. Marketing complex product designs in the contemporary
value chain. International Journal of Value Chain Management. 9(4). pp.311-329.
Enyioko, N., 2016. Marketing as a Primary Function of the Entire Organisation Based on
Contemporary Issues. Available at SSRN 2757270.
Foroudi, P. and Palazzo, M., 2019. Contemporary Issues in Branding.
Gbadamosi, A., 2019. Contemporary Issues in Marketing: Principles and Practice. SAGE
Publications Limited.
Grima, S. and Thalassinos, E. eds., 2018. Contemporary Issues in Business and Financial
Management in Eastern Europe. Emerald Publishing Limited.
Parsons, E., Maclaran, P. and Chatzidakis, A., 2017. Contemporary issues in marketing and
consumer behaviour. Routledge.
Prior, D.D. and Keränen, J., 2019. Revisiting contemporary issues in B2B marketing: It's not just
about artificial intelligence. Australasian Marketing Journal (AMJ).
Unions, A., 2019. Contemporary Issues in Behavioral Finance. artificial intelligence. 20. p.23.
Upadhyaya, M and et.al, 2017. Holistic brand management: Contemporary issues and challenges.
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