MG412 Principles of Marketing: 4Ps Marketing Mix Report

This report, prepared for the MG412 Principles of Marketing module, examines the application of the 4Ps marketing mix (product, price, place, and promotion) by Apple and Fitbit. It begins with an executive summary and introduction, outlining the importance of marketing principles in the contemporary business environment. The main body of the report delves into the marketing mix and the STP (Segmentation, Targeting, Positioning) process, analyzing how Apple and Fitbit utilize these strategies to achieve competitive advantages. The report uses secondary research methods, comparing and contrasting the two brands' approaches to product development, pricing strategies, distribution channels, and promotional activities. The report also discusses the segmentation, targeting, and positioning of both companies. The conclusion summarizes the findings, emphasizing the significance of marketing principles for organizational success. The report includes references to relevant books and journals.

MG412 Coursework
The 4Psmarketing mix

EXECUTIVE SUMMARY
Market is wider as well as broader and it is crucial to have appropriate knowledge of every
business organisation so that decision making is undertaken in proper manner. The principles of
marketing are crucial to be examined so that it is easy to use resources in well organised way. This
is critically important for enterprise to use marketing approaches so that goals are accomplished at
appropriate level.

Table of Contents
EXECUTIVE SUMMARY ................................................................................................................2
INTRODUCTION ...............................................................................................................................5
MAIN BODY ......................................................................................................................................5
Marketing mix .................................................................................................................................5
STP Process ....................................................................................................................................7
CONCLUSION ...................................................................................................................................8
REFERENCES.....................................................................................................................................9
Books & Journal: ............................................................................................................................9

INTRODUCTION
In business, it consists of many type of organisations which are small, medium and large.
In this contemporary business environment, it is crucial to have appropriate knowledge of market
on the basis of which it is easy for enterprise to achieve benefits. Main aim of this report is to
examine the approaches of marketing to achieve competitive advantages. This report is based on
two organisation which are Apple and Fitbit. Apple, a multinational technology firm headquartered

in U.S. It is located a global level and has number of competitors such as Google, Microsoft, Dell
etc. Apple has 27.33% market share across the world (Akbar, 2017). Fitbit, a consumer
electronics firm located in U.S. Google is parent organisation of Fitbit. It has number of products
such as Fitbit versa 1, 2 and many more. Both these type of firms provide consumer electronics
products to consumers at wider scale. Organisation also has number of competitors like Full Article,
Apple, Garmin etc. This report comprises of marketing mix approach and STP process. In this
report, secondary method has been used for collection of information and data.
MAIN BODY
Marketing mix
It is type of a approach which is used by enterprise in order to promote and advertise a
brand in market. It is most effective marketing approach which is being used to access the
competitive benefits and increase the brand awareness. It is a time consuming process because it
require relevant information and data. The use of marketing mix is essential as it help in achieving
of marketing objectives in appropriate manner (Braciníková, 2017).
This comprises of four elements which are discussed as follows-
Product
It is first element in which it is defined as commodity or thing which is meant for sale.
Product is essential without which exchange process cannot be carried out.
Apple- Product Fitbit
This product of Apple is latest version of Apple
watch series and comes at premium category.
This product of Fitbit is smart wearable device
which come sup with latest functions and
suitability level.
Illustration 1: Apple Watch 6
Illustration 2: Fitbit Versa 2
Source: Fitbit Versa 2, 2020

Price
In marketing mix, it is a important element in which price refers to value of commodity or
an item. A price is important without which sale and purchase cannot be done. So, in relation of
Apple the price of product is premium as they have a premium goodwill in market. Whereas Fitbit
Versa 2 price is also comes into premium category but prices are less as compared to Apple watch
series (Chairunnisa, 2019). There are various types of pricing strategies which are used firm such as
price skimming, penetration, psychological pricing etc. The pricing strategies are required to be
used with appropriate analysis of market. Furthermore, it is necessary for business organisation to
be aware about pricing factors properly.
Place
It is also important component of marketing mix in which it reflects the distribution p,ace
from where customers can easily access to product. Place is crucial as it helps in providing of
physical evidence of organisation. So, in relevance of Apple it is a global brand and has stores at
wider level. Also, they have service centres all across the world as in comparison with Fitbit Versa 2
they also have their stores in most of the countries and sell their products through official website
and social media. It is essential to have presence so that customers find it is easy to access to
product or a brand in easy way (Grunert, 2019).
Promotion
This is element in which it refers to way of advertising and promoting a brand in market. It
is critically essential to focus on promoting of organisation so that goodwill is increased at higher
level. There are several method of promoting such as social media, digital marketing etc. In relation
of Apple, they promotes their brand through social media platforms such as Facebook, Instagram,
You Tube etc. In comparison of Fitbit Versa 2, they promotes their product as well as brand through
direct selling, social influencers and social media etc. Without use of promotion, it is not easy to
access to customers in proper manner. Furthermore, effective promotion methods are necessary to
be used so that positive outcomes are obtained.
Therefore, from above discussed matter it is analysed that marketing mix is important
concept which is needed to be considered in proper manner so that goals are accomplished. There It
is duty of manager to make assure that this approach is applied in appropriate way so that
competitive benefits are achieved. Also, it is necessary for manager of both the organisation to have
relevant knowledge of target market as it helps in achieving of set objectives.
STP Process
It is another marketing approach in which it refers to method to achieve business goals and
apply marketing strategies (Hu, 2020). This consists of several elements which are segmentation,

targeting, positioning etc. With help of this method, it is easy to access entity's goals in correct way.
This process of marketing is important on basis of which it is easy to access the market
informations and customers point of view. In relevance of both the firm, they also uses this
marketing approach as it assist them in accessing to marketing objectives easily. These elements are
further discussed as follows-
Segmentation-
It is element in which it is defined as dividing of market on basis of various factors such as
demographic, psycho-graphic, etc. It is necessary to segment the market so that better decisions are
undertaken regarding product and brand. In relevance of Apple, they segment their market on basis
of products and business services (Liu, 2021). Also, they focuses on demographic factor of
segmentation. Whereas Fitbit segment their market on basis of lifestyle factor to monitor the health
of people. Through properly doing segmentation, it is easy for firm to be aware of proper market
and a
Targeting- It is also essential element in which it depicts about target market who has
capability to purchase the product. So, Apple target their market on basis of age group which lies in
between 25-44. In differentiation with Fitbit, the current market of firm consists of technology users
with low motivation exercise. Both brands have different target market and accordingly decisions
are undertaken. It is necessary for firm to be well aware of target market so that competitive
benefits are achieved. Targeting is necessary so that benefits are accomplished in appropriate
manner.
Positioning- It is also important component of marketing mix in which it states about
creating image in the mind of customer. Positioning is important which is to be considered in proper
manner. In this competitive market, it is critically crucial to have appropriate knowledge of market
so that firm goodwill in market is increased in correct way. It is often seen that customer frequently
purchases the product when goodwill of a brand is higher (Mintz, 2020).
Thus, above discussed matter shows that it is necessary to have relevant knowledge of
marketing approaches so that goals are achieved in proper manner. In context of both the firm, it is
essential to use the STP processes so that benefits are achieved in appropriate way. With
consideration of this model, it is easy to access and accomplish set objectives in proper manner
(Othman, 2018).

CONCLUSION
After a brief analysis of above report, it has been concluded that it crucial to be aware about
marketing principles so that organisation set objectives are achieved in proper manner. So,
discussions have been made about concept of marketing mix and STP approach. This has been
examined that it is essential for firm to be active and aware about flexibility of market so that
benefits are gained. The competition level is increasing at rapid scale and it is necessary to specify
about the all the principles of marketing so that better output is achieved. A deep level of analysis is
required to be done so that positive outcomes is achieved in correct way. Main reason for applying
4 P'S of marketing is to gain competitive benefits. Alsom it is analysed that Apple has most
successful application of the approach.

REFERENCES
Books & Journal:
Akbar, 2017. The Niche Marketing Strategy Constructs (Elements) and its Characteristics-A
Review of the Relevant Literature. Galore international journal of applied sciences &
humanities, 1(1), pp.73-80.
Braciníková, 2017, December. Marketing mix of financial services from the customers perspective.
In Forum Scientiae Oeconomia (Vol. 5, No. 4, pp. 36-48).
Chairunnisa, 2019. How Important Is Green Marketing Mix For Consumer? Lesson From The
Body Shop. Jurnal Manajemen, 23(2), pp.321-337.
Grunert, 2019. International segmentation in the food domain: Issues and approaches. Food
Research International, 115, pp.311-318.

Hu, 2020. Analysis on the Market Positioning of Luxury Autos Marketing Strategy under the
Chinese New Consumption Upgrading—taking the Case of Bentley Continental GT.
Liu, 2021. Fresh Fruit Time based on STP analysis and statistics method (Changchun) Word-of-
mouth marketing strategy research. In E3S Web of Conferences (Vol. 233). EDP Sciences.
Mintz, 2020. The right metrics for marketing-mix decisions. international Journal of Research in
Marketing.
Othman, 2018. Issues and challenges faced by Malaysian umrah travel Agencies in providing
excellent marketing mix services to umrah pilgrims. The Journal of Social Sciences
Research, pp.611-618.
Stadnyk, 2020. The concept of marketing of balanced development and features of its
implementation in the food market. Agricultural and Resource Economics: International
Scientific E-Journal, 6(1868-2020-1687), pp.80-95.
Wuryandani, 2018. STP analysis in marketing pigmented rice as functional food. KnE Life
Sciences, pp.128-135.
Online References
APPLE WATCH SERIES 6 REVIEW: THE MOST WELL-ROUNDED SMARTWATCH IN THE
BUSINESS, 2020. Avialable Through
<https://www.digit.in/reviews/wearable-devices/apple-watch-series-6-review-
210408.html>
Fitbit Versa 2, 2020. Avilable Through <https://www.forbes.com/sites/bensin/2019/11/01/fitbit-
versa-2-review-no-surprise-google-wants-to-buy-it-to-replace-wearos/?sh=35f35849453c>