marketing

The company that I have chosen is Apple Company which is considered to be a famous software and hardware company that deals with the series of the personal computers and iPod and its innovative marketing strategies for its products and services. The company was started in 1984 with the Macintosh was the first personal computer that was widely sold (Büyüközkan, Mukul & Uztürk, 2016).

Discuss how companies choose target-marketing strategy and identify attractive market segments. Improve your answer with examples.

The company uses several target- marketing strategy and the attractive market segment, one of the strategy is the competitive advantage in the market whereby the Apple company uses superior technology to ensure that they can reach their clients well and they produce quality products. The company also uses the brand equity, in which they are taking the top spot to ensure that their products are of high quality. The other strategy that the company uses is the distribution in the market; in this case, the company has got smart retailing setups. The company has around 450 outlets which are made to ensure that the customers are made comfortable. The company introduced genius bar, which is a walk-service center, this is made to ensure that the problems customers that they are facing are sorted especially when they are using Macbook, Ipad and iPhone (Hughes, Stovall, Pehlivan & Cardona, 2019).

The company is also using the E-commerce portals to promote their brand since they realized that their brand is in high demand. The Apple Company is also using promotion in the market as one of the marketing strategies. They use advertisements in most cases in the newspapers and various social media platforms that help them to gain popularity in the market. When they are doing their promotions, they mention the features of their products and how they can be purchased. This has helped the company to thrive well, and most of the people have come to trust their products because of their quality (Kotler, Burton, Deans, Brown & Armstrong, 2015).

The company is using attractive market segments; it uses the lifestyle segmentation. The main reason is that it is considered as the most premium brand in most of the countries. The lifestyle segment of the company is based on the urban population who are deemed to be able to have enough buying power. For instance, the company is using a marketing strategy to target music lovers. The music lovers can buy the iPods and the Itunes which they use to download various kinds of music. They also target the professionals who are buying the Apple iPhones, Tablets and Macbook to use them in doing their researches. They also focus the other people who can consume their services such as Apple TV and I watch. This helps to promote the company to have so many customers since they have a good market strategy that allows different people to be able to access their products everywhere. Apple Company uses market strategy to ensure that different countries consume its products because most of the people believe in their products since they are of high quality (Lancaster & Massingham, 2017).

How do firms manage all of their products and services? What are the steps in the best development process for new products/services?

Most of the firms manage their products and services by employing professionals who can ensure that the products and the services produced in the firm are of high quality and durable. This will make most of the firms to make profits during their sales. The firms are also able to manage their services and products when they can identify the vital resources that should be used in making the products and the services. Technology is also another critical factor that helps the firms to manage their products and services. Through the use of technology, they can produce high-quality products and services and handle their sales. The firms are also able to manage their products and services when they review the requirements of the products and services. This will help the firms to be able to know the exact specifications that should be embraced in the firm to ensure that the products and the services are improved for better consumption by the customers (Oztaysi, Gurbuz, Albayrak & Kahraman, 2016).

Some of the best development processes for the new products and services include the generating; this involves the use of the internal and the external SWOT analysis and the marketing trends which are current. This will help to determine if the new products and services are likely to thrive in the market. The other best development process is to screen the idea; this will help the firm to decide if they are going to make sales of the products and services in the market. They will have to decide e on the products and services that they want to offer in the market.

The other best step for developing new products and services is to test the concept. This will help the company to know if the new products and the services are going to work and they are going to make good sales of the products and services. For every firm that wants to do business should ensure that they carry out a test of the concept to be able to provide that they can establish the company. Marketability test is among the best steps that should be considered in the development of the new products. This involves the firm launching the beta versions an also forming the panel test when the product or the services has been tested. The process is vital because the firm will be having the truth about the sales of the products and services in the market that they would like to establish their products and services. The last best stage is commercialized; this provides a better way because at this stage the firm is sure that their new product and services are now at the start to be introduced into the market. This process helps the new products and services to be known by the people in the market (Büyüközkan, Mukul & Uztürk, 2016).

References

Büyüközkan, G., Mukul, E., & Uztürk, D. (2016, December). Marketing strategy selection for logistic companies. In XIV International Logistics and Supply Chain Congress, December, Izmir (Turquía) (pp. 437-445).

Hughes, M. Ü., Stovall, T., Pehlivan, E., & Cardona, R. (2019). Strategic target marketing considerations and implications for the US Hispanic market. Journal of Cultural Marketing Strategy, 3(2), 152-171.

Kotler, P., Burton, S., Deans, K., Brown, L., & Armstrong, G. (2015). Marketing. Pearson Higher Education AU.

Lancaster, G., & Massingham, L. (2017). Markets and customers: market boundaries; target marketing. In Essentials of Marketing Management (pp. 70-101). Routledge.

Oztaysi, B., Gurbuz, T., Albayrak, E., & Kahraman, C. (2016). Target Marketing Strategy Determination for Shopping Malls Using Fuzzy ANP. Journal of Multiple-Valued Logic & Soft Computing, 27.