Apple is a well-known technology brand with a worldwide reputation for its focus on technological innovation, high-quality product lines, and outstanding marketing. The company is involved in developing and designing hardware products such as iPhones, iPods, Mac, as well as the development of software and online services. Since 2010, Apple has been rated as the most valuable brand by Forbes every year.
In this blog, we shall discuss the Marketing Mix of Apple inc. in detail, covering all the 4ps strategies. Let us start by getting to know a bit more about Apple.
Apple is considered to be a multinational technology company, based in California that designs, develops, and sells consumer electronics, computer software, and online services. It is considered as one of the great technology companies on par with Amazon, Google, Microsoft, and Facebook.
Steve Jobs’ vision helped Apple establish itself as the market’s leading technology brand. Now under the leadership of Tim Cook, Apple has grown faster in recent years. Apple is also the first brand with a market value of more than 2 trillion US dollars having its own operating system intact. Since we have a brief knowledge about the company, let’s dive deep into Apple’s marketing mix.
MARKETING MIX OF APPLE
A company’s marketing mix includes the strategies and tactics involved in implementing a marketing plan. Marketing mix focuses on specific 4Ps variables of product, price, place, and promotion.
In developing its marketing mix, Apple uses a strategy that promotes premium branding. This approach aims to focus on the premium brand and ensure that all 4Ps support the maintenance of a strong brand image.
Marketing mix thus holistically covers the marketing and business strategies that surround a business. Let us learn more about the marketing mix of Apple.
1. Apple Product Strategy
The company is known to have introduced new innovative products over the past few years. Apple products line over time to meet the needs of global customers. The product line of Apple includes both goods and services. The product element of the marketing mix indicates that Apple is in the consumer electronics business.
Here is a list of products offered by Apple :
- Apple watch
- Apple tv
Services offered by apple
- Apple Music
- Apple news
- Apple books
- Apple arcade
- Apple podcasts
- Apple fitness+
The product mix of Apple focuses on quality rather than quantity. It focuses on the chosen products and continues to enhance them rather than branching bent designs to other products within the same category. Apple’s product strategy shows that it has diversified its business from computer technology business to information technology.
2. Apple Pricing Strategy
Apple has built the image of itself as a premium brand. Its product range includes only higher-end products and they only target people with high affordability. The company follows a premium pricing policy. Apple products are expensive and are considered a status symbol. Apple never prices lower than its competitors to maintain the image of a premium brand. Lowering the sale price will dilute the brand image.
One of the reasons Apple follows a premium pricing strategy is its high-end technology and superior quality products. Apple does not offer its product on sale and the price of the products is generally standard. Naturally, with such a huge fan following and brand image, the company charging higher prices for its products is justified.
3. Apple Place Strategy
Apple products are available almost everywhere across the globe. The company uses various distribution channels to serve the demands of global customers. They use both online and offline channels for distribution purposes. Apple stores: Apple has set up outlets in different locations where customers can purchase products directly from the company.
E-commerce platforms: Customers can purchase products directly through Apple’s official website and other online portals such as Amazon, Flipkart, etc. These portals are one of the biggest points of sale for Apple products.
Corporate resellers: Apple also has tie-ups with various corporate resellers who are authorized to sell Apple products. Due to the premium image, these stores are handpicked based on the size of the store, monthly sales, etc. The global availability of Apple products allows the company to target a larger customer base and also helps in creating brand awareness on a global scale.
4. Apple Promotion Strategy
The promotional strategy of Apple focuses on aggressive advertising using various channels like medium, TV, billboards, online ads, etc. It makes use of both conventional and non-conventional techniques to promote its product. The products are also promoted from its website and also from other online channels including social media.
In 1997, Steve Jobs launched the “Think Different” advertising campaign. He wanted to explain the value of apples in the fast-paced world. He said, “Apple’s core values is that [ we believe ] people with passion can change the world for the better.” The campaign inspired people to be confident about themselves and not only “think different” but be different and be proud of themselves.
As we all know that Apple targets a selected segment of society, the most focus of the promotional activities is on its products and therefore the differentiating factors which make it unique and better than its competitors. The promotion mix of Apple also uses public relations as a means to attract more customers.
The ads are simple and to the point with no irrelevant information. Commercial ads are run when a product is first launched and print ads run throughout the lifetime of the merchandise.
The primary goal of the promotional activities of Apple is to make the customer aware of the superior user experience of Apple products.
Watch this super interesting advertisement by Apple for iPhone 12
The marketing mix of Apple focuses on simplicity and innovation and tries to connect to the hearts of its customers thereby making the brand the most valuable in the world.
We hope this case study provided you with some useful information on Apple’s marketing mix.
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