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Marketing Methodology of Apple Incorporated Technology Company.

Michell Muldrow

Columbia Southern University

Unit VI

Marketing Methodology of Apple Incorporated Technology Company.

Introduction

Apple Incorporated refers to an information technology firm with a variety of products. The products offered by apple incorporated technology firm include wearable devices, television products, tablets, computers, and cellphones. Consumers prefer performing eye-appealing products and are assured that the product quality is not compromised, thus matching their value for money. Apple incorporated company was founded in 1976 as a hardware and software computer company. Apple incorporated technology organization has transitioned over the years through innovation and creativity to design intelligent devices via a retail store chain to offer its consumers the best buying experience. The firm competes in a competitive market with high bargaining power. The firm stays ahead of its competitors in the market through innovation and product pricing. Apple incorporated technology company has played a vital role in the scientific-technical revolution. Therefore, the competitive analysis, marketing strategies, and competitive edge of Apple Incorporated technology are analyzed.

Competitive Analysis

Aljafari (2016) stated that Apple Incorporated's top competitors are Microsoft, Google, and Samsung. Apple Incorporated differentiates itself by offering both software and hardware in all their devices through Disk iMaGe (DMG) extensions which are only recognized by Mac chipset installed in the firmware of all Apple products. Unlike Apple Incorporated technology, most Samsung products rely on google services to help the product work well. For example, all Samsung smartphones are inbuilt with google play store services. In addition, Microsoft relies on google services to help their products run well. For instance, most Microsoft products rely on search engines designed by google to search for information on the internet. Google is differentiated through its services that are highly compatible with other technology companies.

Apple Incorporated technology has managed to achieve a competitive edge in the market through its strengths. According to Dudovskiy (2021), The company offers quality services and products through performance and design. Apple Incorporated company's ability to uniquely develop and design its services, applications, software, and hardware allows the firm to quickly introduce and innovate user-friendly products to its clients, compared to Samsung. The software and of the latter hardware is acquired from diverse vendors and assembled once. In addition, apple company is among the top companies worldwide with its brand equity (Prakruthi & Ramu,2018). The value for the Apple brand was estimated at two hundred and seventy-four billion, and five hundred million united states dollars in 2020. Customer loyalty is also attributed as a strength for Apple incorporated firm, unlike Samsung, which shares its processor with other devices. For instance, loyal iPhone users continuously upgrade their devices whenever they launch or upgrade their phones because they expect the device to meet their value for money.

The weakness of Apple Incorporated technology company includes high pricing, no variety, and restrictions on their devices. Prakruthi & Ramu (2018) stated that Apple products are more expensive than other companies offering the same products and services. For example, most iPhones are costly compared to Samsung smartphones offering the same features. Besides, Apple incorporated products have numerous restrictions; for example, iPhone, Macbook, and iMac users experience difficulties sharing content from their devicces to other devices because apple products are less compatible than other products. Also, the highlights and assortment offered in apple incorporated devices are low compared to their competitors like Samsung, whose devices are highlighted and assorted. Thus, variety is easily achieved by Samsung consumers, unlike apple consumers.

Marketing Strategies

Marketing strategies refer to a company's decision-making in line with alternatives regarding marketing activities, marketing resources, products and markets in delivering services, products, communication, and creation which provide value to clients in exchange for money. For example, the marketing strategies adopted by the Apple Incorporated technology company in the management of the global customer brand are based on product, place, price, and promotion.

Product

A product refers to an intangible service or item offered to a consumer in exchange for money (The Economic Times, 2021). Apple Incorporated company markets and manufactured accessories, wearables, tablets, computers, smartphones, and various related services. The firm's products include; wearables, iPad, Mac, iPhone, and home accessories. iPhone is the firm's smartphone designed with an ios operating system. Mac is apples' computer designed using macOS operating system. iPad is the firms' multi-purpose tablet designed with an iPad operating system. Home accessories and wearables include iPod touch, home pod, beats products, apple watch, apple tv, and Air Pods. Airpods are the firm's wireless headphones that interact well with Siri. Apple watch refers to the firm's smartwatch. The services offered by apple incorporated company include AppleCare, advertising, digital content, cloud services, and payment services. The company's consumers are majorly in businesses, enterprises, government markets, and education. According to Odaymat (2018), the development of new products affects Apple's Incorporated technology firm marketing strategy. The company is dedicated to creating a better user experience for its consumers by developing new services, software, and hardware. Therefore, the firm centers its marketing strategy on developing new premium brands for its customers. The development of new products positively influences the company's marketing strategy as it distinguishes apple products from its competitors. The company focuses on user-friendly devices; hence through the development of new products thus it is vital for the companies marketing strategy.

Place

Based on the marketing mix, place refers to a specified channel where a firm offers its services and products in exchange for money to the able and willing consumers after assessing their needs and wants (Apple, 2018). Apple incorporated technology company makes its products readily available to its customers through diverse channels of distribution. The company enjoys an enormous market composed of the whole world through its verified online stores, retail stores, resellers, retailers, wholesalers, and third-party certified cellular network carriers. Nevertheless, with the increasing demand for Apple Incorporated technology products, the firm should set up more retail stores to meet the increasing demand. As a result, there are able and willing clients from different geographical parts of the world who cannot access the products.

Pricing

Pricing refers to the value regarded as payment for a service or product offered in exchange for money (Toni et al., 2017). Pricing plays a vital role in the marketing strategy for the Apple Incorporated technology company. The company tends to identify its clients' needs then assembles a product that meets the needs of its target consumers. Even though Apple products are more expensive than its competitors, value for money is always achieved through the assured quality. The company's success is also based on its pricing plans as it determines the loss or profit of the firm. Apple incorporated technology firm enjoys its dominated brand equity through quality, innovation, and creative nature of the firm, enabling its products and services to be costly compared to other brands like Samsung, Microsoft, and google. In as much as apple services and products are more costly, willing and able consumers are always ready to acquire the company's devices. Therefore, the premium pricing tactic adopted by the firm generates more revenue for the company and increases the value of the brand. Besides, the company has already emerged popular and profitable across the world; hence, it should now focus on assembling and designing cheap and affordable products for low-income customers who need apple devices but cannot afford them due to financial constraints.

Promotion

Promotion refers to creating awareness of a firm's services and products to its target customers (Morgan et al., 2019). The services and products of apple are promoted on both the digital platforms and traditional market promotions. The traditional market promotion used by apple company is outdoor advertising, especially on billboards, to create awareness. Broadcasting is also a traditional market promotion strategy adopted by Apple Incorporated technology company as new products launched by the company are always advertised on television broadcasts. The print media is also an obsolete market promotion plan; hence, Apple Incorporated a technology company to promote their products through magazines and other print media. In addition, the company also utilizes digital marketing promotions, primarily through online platforms. Brand awareness has been achieved digitally through promotions from influencers like celebrities. Influencers with a mass audience on social media platforms help the company to promote its products and services. The company also utilizes personal selling through knowledgeable sales representatives, who are well trained to create awareness of the brands' services and products through product promotion. Digital marketing through official authorized websites also helps in promoting the Apple brand.

Competitive Edge

The deceased co-founder of the Apple Incorporated technology firm "Steve Jobs" engaged in minimal market research to assess what the customers need and want then assemble a product that meets their needs and wants. The co-founder strongly believed that consumers couldn't address their needs and wants before assembling a product they may not have seen or experienced; thus, the firm relies on creativity and innovation without market research to enhance customer satisfaction through quality and value for money. Additionally, the company does not engage its clients through surveys to establish whether they are satisfied with the device or not, unlike Samsung, which keeps on engaging its clients time to time to asses whether they are satisfied with the product. Therefore, product quality is not also achieved well with the apple company because customers are restricted from airing out their views about the device through surveys, unlike Samsung, which is among the leading competitors; it offers its clients surveys to air their views.

Conclusion

In conclusion, Apple Incorporated technology company must utilize its development and research unit well to innovate new products that meet and exceed the needs and wants of their target clients. To meet the increasing demand for their products, the company should also increase their official distribution channels to increase customer satisfaction through easy access to Apple's products and services. The company can also increase its brand equity by expanding its distribution channels with cheap products. Additionally, the company can quickly expand into new markets by maximizing its bandwidth to tap new consumer segments, which possess the potential of client loyalty. Even though the Apple brand is globally recognized, the company should also franchise and partner globally to continuously expand the brand. Software piracy and hackers can quickly be resolved through alliances with other renowned companies. Apple incorporated technology company also has intel chipsets to allow goggle and Microsoft services to run in Mac computers. The company has also utilized both traditional and digital marketing approaches to remain relevant in the highly competitive market.

References

Aljafari, A. (2016). Apple Inc. Industry Analysis Business Policy and Strategy. International Journal of Scientific & Engineering Research, 7(3), 406-441.  ISSN 2229-5518 http://www.ijser.org

Apple. (2018). Form 10-k. Washington, D.C.

Dudovskiy, J. (2021, February 17). Apple SWOT analysis. Research-Methodology.  https://research-methodology.net/apple-swot-analysis/

The Economic Times. (2021, July 3). What is a product? Definition of product, product meaning.  https://economictimes.indiatimes.com/definition/product

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Forthcoming in Journal of the Academy of Marketing Science, 47(1), 4-29.  doi.org/10.1007/s11747-018-0598-1

Odaymat, R. (2018). Marketing Plan For Apple Inc.  DOI:10.13140/RG.2.2.31248.25605

Prakruthi, A., & Ramu, M. (2018). A Study on SWOT Analysis with special reference to the Apple Company. International Journal of Pure and Applied Mathematics, 119(17), 181-191.  https://doi.org/1314-3395 http://www.acadpubl.eu/hub/ Special Issue

Toni, D. D., Milan, G. S., Saciloto, E. B., & Larentis, F. (2017). Pricing strategies and levels and their impact on corporate profitability. Marketing, 52.