Marketing Strategy of Apple Inc – Apple Marketing Strategy: Apple is the biggest name within the technology sector in terms of the revenue it generates and its position in the rankings of brands. This is no surprise to many since Apple has time and present products that are ground-breaking and have revolutionized the technology industry.
Apple has provided us with a variety of surprises over the years like the Macbook as well as Ipad, iPod, iPhone, Ipad, I watch, Itunes, and many more. In addition, due to its superior products and differentiating features, Apple is the preferred choice of many tech enthusiasts.
Here is the Marketing Strategy of Apple
Did You Know About Apple?
Company : Apple
CEO: Tim Cook
Founder: Steve Jobs | Ronald Wayne | Steve Wozniak
Year founded: April 1, 1976
Headquarters: Los Altos, California
Annual Revenue: US$274.515 billion
Profit | Net income: US$57.411 billion
Products & Services: Macbook as well as Ipad, iPod, iPhone, Ipad, I watch, Itunes, and many more.
Apple Fun Fact: Apple is a prominent hardware and software company best known for its series of personal computers, the iPod and its innovative marketing strategies for its products. Introduced in 1984, the Macintosh was the first widely sold personal computer with a graphical user interface (GUI).
Marketing Strategy of Apple – Segmentation, Targeting, Positioning
There are three main segments that Apple will target. It usually employs a lifestyle segmentation because Apple is the most desirable brand on the market. It is typically those living in urban areas with sufficient spending power to warrant buying Apple merchandise. These are those who were early adopters of technology, but the brand’s reputation that comes with Apple is so strong that even those who aren’t so keen have started taking the Apple products for granted.
In the marketing strategy of Apple, it includes three groups of target groups
- One of them is the music enthusiasts who are being targeted by Apple Ipod and Itunes.
- A different target is teens or professionals that are targeted for Apple iPhone, Tablets, Macbook and many other devices that can be utilized by any person, regardless of age.
- The third group is the one that can utilize Apple’s other services and products such as Apple TV and Apple I Watch. They also have access to iBooks, Apple pay, etc.
Apple being the world’s top brand is the most top-of-mind position and it is undisputed that when people talk of Smartphones as well as Laptops and Tablets, Apple is the first brand that pops into the mind most often.
Apple Mission Statement
“to bring the best personal computing products and support to students, educators, designers, scientists, engineers, business people, and consumers in over 140 countries around the world.”
Apple Vision Statement
“To make the best products on earth and to leave the world better than we found it. “
“Think Different — But Not Too Different”
Marketing Strategy of Apple – Competitive Advantage
Apple has many advantages over its competitors.
- High-end technological products The superior technology products Macbook, as well as I watch, are undoubtedly top of the line in their respective markets due to the OS as well as the tech they use.
- Brand equity Apple has been repeatedly ranked at the top position for brand equity and has enjoyed a popular following since the beginning of time.
- Revenue over time Apple is a shrewd business thanks to its profit margins.
- R&D A major competitive benefit that Apple has over its competitors Apple is the amount of money it invests in R&D with an eye towards the future instead of focussing on the present.
Marketing Strategy of Apple – BCG Matrix
When drawing a BCG-based Matrix of Apple when plotting the BCG matrix of Apple, the portfolio of products that Apple offers Apple is clearly separated into four components.
- Cash cows are the products that are in existence since the beginning of time and are not able to be questioned under the current market and hold an overwhelming part of the market when global data is considered. They include Macintosh, iPhone, I watch (50 percent market share for 2015.) as well as Itunes (an excellent support service for every Apple product)
- The most successful include the Ipad and Ibooks in which there is plenty of competition. Apple must invest heavily to ensure that these companies stay in the top position.
- The issue refers to Apple TV which has a low market share in a market that has great potential and may increase in size in the near future.
- It’s the dog since even though it holds large popularity, the business itself is shrinking rapidly because Smartphones have taken over Ipods.
Marketing Strategy of Apple – Distribution Strategy
Apple is a sophisticated retailing system. There are 500 stores in the US. These retail outlets are so that they’re more interested in helping customers to make him feel comfortable with the use of Apple instead of marketing the products and then stuffing the product down the throat of customers.
Apple has also launched its Apple Genius Bar It is a shop-in service that can assist customers with issues they may encounter on their MacBook as well as Iphone and Ipad. Overall, the company-owned Retail and Service outlets are excellent.
Alongside company-owned shops, Apple is also establishing trade partners such as Ingram Micro and Redington which are in charge of selling and the distribution of their brands. The trade partners purchase large quantities of the company and later sell the product on the market. So, in addition to its retail stores in-house, Apple is available in other premium and modern retail stores. These stores are managed by their retailers.
The online eCommerce existence of Apple is awe-inspiring. The majority of E-commerce sites advertise the brand on their own since they are aware that this brand’s name is high in popularity. Additionally, there’s very little cost-per-click in Apple so the channels that are partners, as well as E-commerce sites, are also happy because they don’t have to contend with overpricing. on the homepage directly. From the home page itself. a mix of distribution, retail, and E-commerce gives full market access to Apple.
Marketing Strategy of Apple – Brand equity
Apple has the highest brand equity in the world at the time of 2016 and is the highest globally ranked brand. The worth of the brand Apple stands at 118.9 billion dollars. The company has done quite a bit to attain the brand equity level, but the main reason for this was its capacity to offer hits to its products repeatedly and also to spread around the world by offering these top-quality products. Combining both of these together with the outstanding advertising and marketing that the company has helps Apple to achieve the highest level of brand equity.
Marketing Strategy of Apple – Competitive Analysis
While on a corporate scale, there is not much competition for Apple at the product level there is a lot of competition for its specific products. Ipad is facing opposition from Samsung tablet devices, Iphone has a lot of competition Android phones based on Android, Macbook is facing stiff competition from Dell that also offers superior products.
The exclusive services provided by Apple like Itunes are also under threat from other courses music services that appear on the scene every day. iBooks is facing strong competition from Amazon as well. Apple TV faces competition from Fire TV of Amazon. Samsung devices and various Smartwatches are gaining popularity as rivals to iwatch though iwatch is still the dominant market share.
Marketing Strategy of Apple – Promotional Strategy
Apple is among the most beautiful advertisers as seen in any of its ads printed in the newspapers. It is common for Apple advertisements to be clear and concise with the way they convey their content. The background is white and they will have an explosion of colors in the printed ad to introduce the product or differentiate the product.
This is a major strength of the Apple brand. Apple offers so many differentiating aspects that it is able to run an array of advertisements, that are all geared towards differentiating the services it is providing. Not just the print ads, but even the video ads also do exactly the identical. They provide you with a single aspect that highlights the product highlights its features.
Here’s a basic image designed by Apple to distinguish the two platforms: PC well as Macintosh. Check out the clear and straightforward copy.
All in all overall, Apple’s marketing and promotion that Apple uses for its advertising and promotions Apple are ten times more effective in the event of the need for a brand new item to launch. The excitement generated is so great that you can’t escape it. The hype continues until the product is an instant success. Since the number of products that have Apple is lower, there is evidence that the company is determined for every single product to be a success.
This was the marketing method employed by Apple. The brand can provide a wealth of lessons to marketers in terms of the concept of differentiation, brand building, and, most importantly, innovation.