In-text: (Apple (United Kingdom) - Apple Press Info - Apple Reinvents the Phone with iPhone, 2017) Your Bibliography: Apple.com. Thus, Apple’s marketing mix is comprehensive in taking advantage of online and non-online distribution channels. It is worth noting that the technology firm’s aim of having the best products is specified in both the corporate vision statement and the corporate mission statement. This element of the marketing mix shows that the company operates in the consumer electronics products. The focus of the marketing mix is on the 4P variables, namely, Product, Place, Promotion, and Price. However, some adjustments can improve Apple’s mission statement. For example, some locations offer old models at discounted prices when bundled with larger or more expensive products. The 4P classification of the marketing mix revisited.Â, Yoo, B., Donthu, N., & Lee, S. (2000). This bibliography was generated on Cite This For Me on Monday, May 15, 2017 Promotional marketing for Apple is vital. In the first Quarter of 2018, Apple announced that its active installed base of devices reached 1.3 billion users (Apple 2018). In this direction, the company’s vertical integration helps in achieving a coherent business situation for leadership in the computer technology, software and online services industries. Coca Cola’s marketing expenditure in 2016 was $4 billion. Doing so could make Apple’s mission statement easier to adopt and apply to day-to-day operations. For example, Apple requires its suppliers to comply with its policies for environmental conservation and fair labor practices. This article may not be reproduced, distributed, or mirrored without written permission from Panmore Institute and its author/s. The vision statement and mission statement now represent the company’s efforts in addressing business opportunities in the computer technology, consumer electronics, cloud computing, digital distribution services, and semiconductors industries. Macintosh –The reason Apple exists is Macintosh. Porter’s Five Forces analysis of Apple Inc. Apple’s corporate social responsibility strategy, Apple Inc. – A Letter from Lisa Jackson, April 2014, Apple Inc. – Media Alert – Apple FY 00 First Quarter Results Conference Call, Apple Reports Second Quarter Results, April 30, 2020, U.S. Department of Commerce – International Trade Administration – The Media and Entertainment Industry in the United States, U.S. Department of Commerce – International Trade Administration – The Semiconductors Industry in the United States, U.S. Department of Commerce – International Trade Administration – The Software and Information Technology Services Industry in the United States, Information and Communications Technology Industry, Dong, F., Xie, Y., & Cao, L. (2019). The goal to have the best products challenges Apple to continue pushing for novel innovation in product development. In this regard, Amazon reaches out to its target online market through its marketing mix, which focuses on the place and price components as major selling points. 2017. (2017). Marketing Mix of Apple (extended to 7Ps) Apple is a renowned technology brand, recognized globally for its focus upon technological innovation, a premium product line, and great marketing. Apple Inc. uses the following pricing strategies: The premium pricing strategy involves offering products at a premium. Datta, H., Ailawadi, K. L., & van Heerde, H. J. However, to improve Apple’s vision statement, a recommendation is to make it more detailed. In this post, I elaborated the marketing mix of apple inc. or 4 Ps of Apple Inc. Marketing mix of Apple Inc. (2012). From marketing mix to relationship marketing: Towards a paradigm shift in marketing.Â, Naik, P. A., Raman, K., & Winer, R. S. (2005). Apple’s vision statement influences strategic management in terms of the decisions that the company’s executives make to reach a future of leadership in the various industries where the business operates. Aside from premium pricing, the company also uses the freemium pricing strategy. “Marketing communications is a process through which organisations and audiences engage with one another. How well does consumer-based brand equity align with sales-based brand equity and marketing-mix response?Â, Gronroos, C. (1994). For instance, the company recognizes trends and changes in the consumer electronics market and the industry environment. Entrepreneurial leadership-vision casting and the role of signalling. This marketing mix element determines the outputs of the business organization. Apple Inc.’s Marketing Mix or 4Ps (An Analysis) - Panmore ... Posted: (2 days ago) A company’s marketing mix involves the strategies and tactics pertaining to the implementation of a marketing plan. Through an understanding of an audiences preferred communication environments, participants seek to develop and present messages, before … Amazon.com Inc. uses its marketing mix as a powerful approach to attract consumers to its e-commerce website. In addition, customers can buy products through Apple’s website and online stores for desktop and mobile. The article elaborates the pricing, advertising & distribution strategies used by the company. These competitors are known for their aggressiveness in innovation and marketing. Apple Five Forces Analysis 2013 Pyjobs Org. An examination of selected marketing mix elements and brand equity.Â. (2016). Also called the marketing communications mix, this element of the marketing mix determines the communications tactics that the company uses to reach its target customers. Marketing Strategy of Apple Inc - Apple Marketing strategy. Product : The product line up of the company includes a range of consumer electronic products, that includes its traditional Mac computers and iPhones. The sellers include large retail firms like Walmart and Best Buy. Asian Journal of Research in Marketing, 4(2), 98-108. Shaughnessy, H. (2013). Even though the SWOT analysis of Apple Inc. shows that such high prices are a weakness, the company utilizes premium pricing in combination with premium branding and creative innovation. In, Pace, S. (2017). The 4 Ps of Apple Inc includes products, price, people, and promotion. In a way, the corporate vision expands Apple’s influence in the global community. Clean design, subtle use of colors and clear messaging are three constants which are there in all the promotional content that Apple creates. Currently, Apple’s corporate mission focuses on products, product development, industry leadership, and business sustainability. The company has agreements with various prominent websites to advertise and promote Apple products. In theory, a premium is an amount that is applied in addition to the typical or common price. These efforts are linked to Apple’s corporate social responsibility strategy and stakeholder management efforts. Apple Inc. Operations Management: 10 Decisions, Productivity, Sony Corporation’s Marketing Mix (4Ps) Analysis, Home Depot’s Marketing Mix (4Ps) Analysis, Costco Wholesale’s Marketing Mix (4Ps) Analysis, Facebook Inc.’s Marketing Mix (4Ps) Analysis, Amazon.com Inc.’s Marketing Mix (4Ps) Analysis, Burger King’s Marketing Mix (4Ps) Analysis, Harley-Davidson Marketing Mix (4Ps) Analysis, Apple Inc.’s Generic Strategy & Intensive Growth Strategies, Ford Motor Company’s Marketing Mix (4Ps) Analysis, Apple Inc.’s Mission Statement and Vision Statement (An Analysis), Whole Foods Market’s Marketing Mix (4Ps) Analysis, Unilever’s Marketing Mix (4Ps) Analysis, eBay Inc.’s Marketing Mix or 4Ps (Analysis), Walt Disney Company Marketing Mix (4Ps) Analysis, General Electric Company’s (GE) Marketing Mix or 4Ps - Analysis, Apple Inc.’s corporate vision and mission statements, Apple’s Generic Competitive Strategy & Intensive Growth Strategies, Apple’s corporate social responsibility strategy and stakeholder management efforts, Apple Inc. – iCloud Storage Plans and Pricing, U.S. Department of Commerce – International Trade Administration – The Software and Information Technology Services Industry in the United States, U.S. Department of Commerce – International Trade Administration – The Media and Entertainment Industry in the United States, U.S. Department of Commerce – International Trade Administration – The Semiconductors Industry in the United States, Information and Communications Technology Industry, Online Digital Content Distribution Industry, Company-owned website and online stores for desktop and mobile, Borden, N. H. (1964). and online payment services (Apple Pay). Some authorized resellers sell through their own stores as well as their seller accounts on Amazon.com. The product lines in this 4P element are based on the outputs of the product development growth strategy (see Apple’s Generic Competitive Strategy & Intensive Growth Strategies). The technology company must ensure that its mission statement hints on the strategies to keep the business competitive. Customers can buy consumer electronics through the company’s website. This strategy involves “free” and “premium” pricing combined into a single strategy. These are the sources and citations used to research Marketing Communications. Board Power Hierarchy, Corporate Mission, and Green Performance.Â, Hefti, J., & Levie, J. Reinforced with appropriate 4Ps, such response to the market enables the corporation to keep its wide profit margins. The marketing mix of Apple can be discussed in terms of the 4P model, which assess the strategies of the company based on four key parameters such as Product, Price, Promotion and Place. In this freemium pricing case, some of Apple Inc.’s products are free, but customers pay to access more, advanced, or better features. For GDPR compliance, we do not use personally identifiable information to serve ads in the EU and the EEA. A companys marketing mix involves the strategies and tactics pertaining to the implementation of a marketing plan. Such additional details could make it easier for Apple’s employees to understand and fulfill the corporate vision statement. Also, the vision statement is abstract, inspiring, and stable to encompass the future of the technology business. Marketing Mix of Apple Inc. 1. For example, these stores sell MacBook units, as well as peripheral devices from other companies. Apple Inc.’s main product lines are as follows: These product lines are associated with human resource utilization and business processes based on product-based divisions, which are a characteristic of Apple Inc.’s corporate structure. Walmart’s HRM: Compensation, Career Development, Apple Inc.’s Generic Strategy & Intensive Growth Strategies, Google’s Mission Statement and Vision Statement (An Analysis), Apple Inc.’s Organizational Culture & Its Characteristics (An Analysis), Apple Inc. SWOT Analysis & Recommendations, Samsung’s Mission Statement & Vision Statement (An Analysis), Microsoft’s Mission Statement & Vision Statement (An Analysis), Amazon.com Inc.’s Mission Statement & Vision Statement (An Analysis), Apple Inc.’s Marketing Mix or 4Ps (An Analysis), Apple Inc. Operations Management: 10 Decisions, Productivity, Apple Inc. Five Forces Analysis (Porter’s Model), Burger King’s Vision Statement & Mission Statement, PepsiCo’s Vision Statement & Mission Statement Analysis, Apple Inc.’s Organizational Structure & Its Characteristics (An Analysis), Costco Wholesale’s Vision Statement & Mission Statement, Sony Corporation’s Vision Statement & Mission Statement, Apple Inc. PESTEL/PESTLE Analysis & Recommendations, Intel Corporation’s Vision Statement & Mission Statement, Home Depot’s Vision Statement & Mission Statement, Samsung’s Organizational Structure & Its Characteristics (An Analysis), Apple Inc.’s generic strategy and intensive growth strategies. This mission statement also influences the company’s corporate vision statement, which guides strategic planning on how the technology business brings the corporate mission into the future. To fulfill its corporate vision statement, the company has strategies and policies that apply to its operations as well as the operations of business partners, such as semiconductor component suppliers and manufacturers. Apple Inc. promotes its products in various ways, involving different communications channels and parties. When a person uses an Apple product, s/he only just does not use it, but also develop an experience. However, the company continues to expand its product mix, creating the possibility of adding non-IT-related products in this 4P element. It’s important for the company to advertise the benefits of its products to gain an advantage over its competitors. https://www.academia.edu/2647488/The_Analysis_of_Apple_Inc_Marketing_Mix Copyright by Panmore Institute - All rights reserved. Marketing Mix of Apple analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Apple marketing strategy. Apple Inc.’s mission statement and vision statement are bases for the company’s success as one of the most valuable businesses in the world. Moreover, the company’s 4Ps include products based on cloud technology, which allows customers to store and access their data, and use software as a service (SaaS), such as iWork for iCloud. For example, Apple’s prices match its premium brand, as well as the corresponding consumer perception that equates the company’s products with high value and high quality. This article may not be reproduced, distributed, or mirrored without written permission from Panmore Institute and its author/s. For example, in general, iPhones are more expensive than Samsung smartphones. Apple Inc.s marketing mix (4P) indicates how the company matches its business activities to the conditions of the global market for information technology, consumer electronics, and online services. Greenspan,R.2015,Apple Inc’s marketing mix (4P’s),Business management,retrieved on 15 september from http://panmore.com/apple-inc-marketing-mix-4ps ‘Product Development, Packaging, Pricing, and Place’, 2004, Journal of Business & Finance Librarianship , vol. Apple Inc.’s Mission Statement and ... - Panmore Institute The company is also involved in various initiatives, such as ConnectED, which aims to improve formal education outcomes, while promoting the business and its products. Each of these four parts we will discuss in this post. Apple Inc.’s corporate vision is “to make the best products on earth, and to leave the world better than we found it.” Similarly, the company’s Vice President for Environment, Policy and Social Initiatives, Lisa Jackson, stated, “We aim to create not just the best products in the world, but the best products for the world.” Thus, the corporate vision statement aligns with Apple’s corporate social responsibility strategy, and puts emphasis on sustainability, environmental conservation, and overall improvement of the ecological impact of the business. The following communications tactics are in Apple’s promotional mix: Apple Inc.’s marketing mix includes advertising, such as on Google’s digital advertising network and on technology news websites. Marketing Mix of 4P’S for Competitive Advantage. 2. Ideally, the statement should contain information about corporate image, and employees, among other aspects of the computer technology business. There are 4p’s in the marketing mix strategy, the product, price, place and the promotion. The 7P’s - I … Business Strategy Hub is your complete guide to business strategies. On the other hand, the iPad, iPhone, iPod, and Apple Watch are mobile devices with some functions similar to those of Mac products. In this regard, Apple’s marketing mix is aligned with premium branding and associated product design and development efforts. Personal values and mission statement: A reflective activity to aid moral development.Â, Leuthesser, L., & Kohli, C. (2015). Apple (United Kingdom) - Apple Press Info - Apple Reinvents The Phone With Iphone . Also, among the 4Ps, this element involves sales promotion, which usually happens at the Apple Store locations and authorized reseller locations. Vision statement Impact on organization strategic roles. For example, the company offers free 5-gigabyte iCloud storage.
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