F Private sector: Apple Inc. Public sector: Walt Disney Company Apple Inc. is an influential and pioneering American multinational corporation that designs and manufactures consumer electronics. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne on April 1, 1976, having the headquarters situated in Cupertino, California, United State to develop and sell personal computers. It merged as Apple Computer, Inc. on January 3, 1977, and was renamed as Apple Inc. on January 9, 2007. Leading the charts of the retail market in terms of sale Apple has 453 retail stores in 16 countries and an online store available in 39 countries. The company has come a long way from developing their first product the Apple I which was sold as an …show more content…
The four strategies are market penetration, market development, new product development and diversification. Moreover, each strategy has its own strengths and weaknesses. Market penetration: Is increasing the market share of an existing product or new product through advertisements. Market development: Is targeting new products on existing markets. Product development: Is developing new products that target existing market segments. Diversification: Is developing new products that target new markets Firstly, market penetration allows a business to gain a high market share through the use of promotional methods, with their existing products in their existing markets. However, this type of strategy needs a lot of investment. Secondly, market development, this strategy helps in increasing sales by targeting a new segment while attracting potential customers for existing products. However, an existing product may have to be changed or altered to customers needs if the new segment does not respond well. The third strategy product development helps in gaining more revenues as more new appealing products are released. However, there are equal chances of the product being successful or unsuccessful and, it also takes time to develop new products. The last strategy diversification includes the marketing or
In conclusion Apple has become a successful company over the past thirty-five years, and may continue to do so in the future is certain aspects of the organization became more flexible.
This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.
I would still want to get the product to market quickly while having the versatility to make changes on the fly. To find new markets I would expose the product to consumers through experimental trials. This would expose the product to potential clients and consumers and allow our development team to get feedback on consumer needs and wants as well as help us define changes necessary to make the product more appealing and usable. Instead of propelling the product forward based on profitability goals and measures, the idea would be to let the new and emerging market help us define our product while our product defines the new market. For example, when Seymour and White went to the electronics trade show in Chicago in search of their market, both them and Nintendo stumbled upon each other. Seymour and White were introduced to a market that they hadn’t considered in gaming, and at the same time, Nintendo was introduced to a want or need they had in game storage that they had not yet considered.
The strategies utilized as a part of marketing incorporate picking target markets through market segmentation and market analysis, and in addition understanding systems for impact on the consumer behavior. The marketing planning makes systems for the organization to place publicizing to the committed purchaser.
In terms of sales and marketing, we adapted our strategy based on how the products played in each segment. Our strategy was to spend efficiently in marketing & sales to keep the customer awareness and accessibility high for the premium products, while maintaining a decent level of awareness and accessibility in other segments.
Apple, Inc. (formerly known as Apple Computer, Inc.) was incorporated in the State of California in 1977. Apple currently designs, manufactures, and markets a variety of computer and personal electronic products, including Macintosh computers, and the iPod digital music player. AppleÕs key markets are consumers, creative professionals, educational institutions, and business users.
Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in
Apple Inc. is an American multinational technology business headquartered in Cupertino, California, established by Steve Jobs, Steve Wozniak, and Ronald Wayne on April 1, 1976, to sketch, fabricate, and sell consumer electronics, computer software, and online services. Apple is the world 's second-largest information technology company after Samsung electronics, the world 's largest technology company by total assets. On November 25, 2014, Apple became the first U.S. Company to be treasured at over 700 billion dollars, besides being the largest publicly traded corporation in the world by market capitalization. Apple is a very successful producer of computer software and hardware, however it has demonstrated internal and external areas that need enhancement along with other areas that prove to be profitable.
The company started off as “Apple Computer,” best known for its Macintosh personal computers (PCs) in the 1980’s and 1990’s. Despite a strong brand, rapid growth, and high profits in the late 1980s, Apple almost went bankrupt in 1996 (Kim & Yoffie, 2010, p.1). This can be explained that Apple has become larger and more significant than other competitors put together in 1980. Because Apple failed to innovate in 1996, the company almost went bankruptcy but eventually Steve Jobs took Apple from bad situation to the company that can make billions of dollars through promoted itself as a hip alternative to other computer brands. Apple highlighted its computers as the world’s “greenest lineup of notebooks” that were energy efficient and used recyclable materials. The goal was to differentiate the Macintosh amid intense competition in the PC industry (Kim & Yoffie, p.4).
In the marketing world, before releasing a product onto the market a company would carry out research in all spectrums to investigate the targeted audience. Once market research is completed, marketing or advertising is carried out so that the targeted consumers can purchase and the company receives an earned profit from sales. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing, 2009). Marketing strategies need to tick off consumer needs and demand. Companies follow a set of marketing strategies to be able to achieve their set mission goals. Strategies like segmentation, targeting and positioning of the market is used to analyse the
Apple Inc. is a globally recognised pioneer in the tech industry. It is a corporation that designs, develops and sells electronic products such as tablets, computers and phones. Founded by Ronald Wayne, Steve Jobs and Steve Wozniak in 1976, it is a multinational corporation with headquarters in Cupertino, California. Tim Cook has been CEO since Jobs’ passing in 2011.
The marketing strategy should be tailored around the firm's target market; if this were not the case marketing would be then less successful. Each aspect of the marketing mix would need to be formulated with the target market (consumer) in mind. For example the design of the product would need to be such that it would satisfy the consumer's needs. If it did not consumers would see no need to have it and buy a competitor's product. The price of
This strategy has the aim of increasing sales by developing products for a company’s existing market.
Apple Inc. is a multinational corporation that specializes in the production of consumer and business computers, electronics, and software. The company was established on April 1, 1976 by three individuals named Steve Jobs, Steve Wozniak, and Ronald Wayne. It was then incorporated on January 3, 1977 and was initially known as Apple Computer, Inc. for 30 years thereafter, until it was changed to Apple Inc. on January 9, 2007, so as to include a more diverse line of products to the market than just computers, as the former name suggested.
To overcome these obstacles, popularizing the product is the technique to adopt. But how to do it? Well-planned sales and marketing strategies can help companies grow. It is important that each leader implements different marketing techniques to succeed.