Why Are Apple Products So Successful?

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

The vendor anticipates that the typical consumer will purchase other items at the same time as the loss leader and that the profit made on these items will be such that an overall profit is generated for the vendor. Typically, a loss leader is placed at the back of a store requiring the consumer to walk past racks and racks of other displayed goods which have a higher profit margin. Additionally, a loss leader is normally a product that customers are willing to purchase; thus they are aware of the usual price and view the offered price as a bargain (Wikipedia, 2005). Wal-Mart effectively utilized loss leader pricing to generate profitability but it was not without its pitfalls.

Apple’s position and marketing as a premium brand is based on their strategy of not competing on price. Apple operates on premium pricing and price skimming. Premium pricing is a strategy in stitch products are introduced and kept at high prices in order to encourage a level of exclusivity and luxury among consumers. The high prices of Apple products, in comparison to their competitors, is reflective and representative of the quality and exclusivity of their products. Through this pricing strategy, Apple has successfully build a brand equity and value around their brand and products which in result means consumers are willing to pay the extra amount of money for their products, instead of going to competitors with lower prices.

Pricing strategy can be defined as the strategy that aimed on finds the product best selling price to accomplish overall organizational objectives (Kurtz, 2012). Pricing strategic is directly related to product positioning. It is because the managers must consider how much the target market is willing to pay and cover back of the product cost. Therefore, Chatime has decided to lower its prices on milk tea to target on common people.

The role of pricing strategies in marketing gives the marketing manager the ability to modify their strategy to accommodate for the changes in the market. For instance, if the economy suddenly hit a decline, if applicable the marketing manager will have to adjust the pricing if they want to retain revenue but a smaller profit. Depend on what kind of product is being market will the effect the pricing strategy, if the product is only in the market there pricing inelastic pricing may vary tiny amount. Majority of the times cheaper quality of the product the cheaper unit price, the marketing manager will have to increase the price if they want better quality. The strategy of sales revenue can tricky tactics, if one product sales number are low but they also sales similar product at

SUMMARY OF CH.10 Pricing strategies: Price: is an amount of money that the consumer is paying for a product or a service. Costumer value-based pricing: to determine the price of product or service we have to consider the customer expectations of the value not the seller’s cost. Good-value pricing means the balance between good quality and service, decent price for both the customer and the company in order for it to gain profit.

Marketing is complex but it can be simplified by answering a few questions. Who is our target market, Why us, why does a customer purchase from us and not a competitor, and what distributions channels will we use to get products to end user customers (Jobs, 2013). There are 4 principles of marketing strategy. The first principle of marketing strategy is specialization. Specialization is when a company decides which products or services to concentrate on. Once a business decides which products or services to concentrate on they can begin the process of making the product or service

In today 's world, Apple 's products are highly sought after because they are very popular for everyone. According to Yarow，editor of The Business Insider，said that the newest iPhone sold 5 million over the opening weekend (Yarow, 2012). However, it is difficult to find the reason why Apple’s products are so superior compared with other electronic products in the market. Since Apple’s products come out in our life, it has facilitated our life and brought us huge benefits. For instance, people do not need to bring their heavy laptops to go to work every day, because they already have the portable tablet PC - iPad. The ascent

When people hear the word Apple they think of the eminent brand. Why? Because Apple products changed the market for technology products, establishing a name for themselves almost entirely by using excellent marketing strategies. As a marketing major myself, I wish to acquire the entrepreneurial and communication skills Steve Jobs had. Gaining the business-related knowledge Jobs gained through years of experience, would advance my marketing skills when I start a business. This will not be a wieldy journey to go through, but it will be rewarding. Eight years ago, I realized that no vision is impossible with dedication, patience, and perseverance. In 2007, I flew from my birthplace, Venezuela, to the United States. Growing up in Venezuela was a memorable stage of my life since I lived in a neighborhood within an unsafe area, yet I still have copious positive memories. For ten years, I lived with my mom and sister while my father was in the United States due to immigration problems. Neither of my parents went to college, thus my family and I depended on my mother’s ample income. In addition, Venezuela’s government was highly dysfunctional; despite this, I knew the circumstances of my family could have been worse and until now I continue to be grateful to come from such humble roots. Coming to the United States has given me the chance to immerse myself on prodigious phenomenal opportunities. As a first generation college student and an indomitable individual who truly values an

​The issue of pricing strategies that exist and are used by enterprises, whether industry, retailers or wholesalers. The price is the only element of marketing can generate revenue, the rest ends up generating costs that are incorporated into the final product price. It is also one of the flexible elements, therefore, can be changed quickly adapting according to the needs. It is also one of those responsible for the occurrence of the relationship between company and consumer, after all, an attractive price can

Price interacts with all other elements of the marketing mix to determine the effectiveness of each and of the whole. The objectives that guide pricing strategy should be a subset of the objectives that guide overall marketing strategy. Thus, it is probably wrong to view price as an independent element of marketing strategy or to assert that price, by itself, is a central element in the marketing mix.” (Webster, 1979)

The company would employ varied marketing strategies that they will use for the next one and three years. One of them is the pricing strategy, which is one of the essential marketing elements. Bearden, Netemeyer and Haws, (2011, p.63) point out that pricing strategy is one of the vital element of competing with competitors favorably. This is through setting the prices of products differently in order to differentiate the price from that of the competitors. Many companies use pricing strategy in setting the price above or below the equilibrium level in the market. For instance, the

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).

Pricing strategies are important criteria which affects the overall success of the company. The price

Marketing plan involves the strategies like pricing strategies, promotional strategies, distribution strategies etc. Pricing strategies determines the criteria that are followed in calculating the price of the product. Distribution strategies deals with the method used to distribute the products to the market. (Russell, 2010)