Marketing Strategy Assignment Help
The product selected for this marketing strategy assignment help paper is iPhone 5 that is manufactured by Apple, Inc. iPhone 5 is just 7.6 millimetres thin. It includes a nano-SIM card, reversible Lightning connector, 8MP iSight camera, A6 chip. This is 20 percent lighter and 18 per cent thinner than iPhone 4S (Apple, Inc., 2012). Main competitors for this product are advanced featured products offered by Samsung, Nokia and Microsoft. Following is the description of marketing mix elements that are used by the company to ensure the success of this product in the market: Product: It is one of the essential elements of marketing mix.
To make an effective and attractive product element, marketing managers need to consider several factors. Under this element, companies describe the features and benefits associated with the product (Kotler, 2006). Marketing managers at Apple successful include this element in the marketing mix. Its main features are all new design, thinnest, lightest and fastest ever. For people, it is hard to believe that a phone so thin can offer so many features including an 8MP iSight camera, a faster chip, a larger display, the latest wireless technology and more (Apple, Inc., 2012). It is designed in a beautiful aluminium body and made with an unprecedented level of precision.
Inclusion of all these features helped the company to create a huge demand for this product in the market. Price: Price is another element of marketing mix, which is helpful for the company in order to increase sales revenue for a particular product. Penetration strategy, skimming strategy and comparable pricing strategy are mainly three types of pricing staretgy that marketers can use for their products (Hiebing & Hiebing & Cooper, 2004). Generally, Apple, Inc. use skimming prices for its new product or set high prices in order to reinforce the brand’s high-end positioning and special cachet as well as build profits from the very start of each product’s life. This strategy is also used by the company for its product new iPhone 5. The company also tiers prices along with a value metric, which help it to sell the product to each segment in the market. This pricing strategy not only ensures the company that each people is happy with a solid product but also make sure that they can attain cash from those people, who can afford a more expensive model with lots of attractive features. Place: It is the third marketing mix element, in which marketing managers decide how they will reach to potential customers. Distribution centers, warehouse system, inventory handling system and transportation are some intermediaries that are used by the organizations to reach their customers (Loudon, Stevens & Wrenn, B. (2004). Apple controls its place or distribution strategy by maintaining its own centers. In order to reach a large customer base, company has added some distribution channels such as Wal-Mart and AT&T which have high sales volume (Apple Inc., 2012). Through this strategy, mid-price customers are also able to know about the features and benefits of iPhone 5 product.
Promotion: It is one of the important elements of marketing mix, as effective use of promotion mix, ensures the success of new products in the market. It helps in creating customer demand for product over competitors’ product in the market. Different promotion tools such as personnel selling, advertising, sponsorship and sales promotion (Cant, Strydom & Jooste, 2009). For iPhone 5, Apple used effective marketing strategies including different advertising tools such as newspaper, television and magazine, social networking sites like twitter and facebook and other media channels. Use of all these channels helped the company to aware and attracts customers for iPhone 5.
References Apple Inc. (2012). Retrieved from http://store.apple.com/us Apple, Inc. (2012). Retrieved from http://www.apple.com/iphone/design/ Cant, M. C., Strydom, J. W & Jooste, C. J. (2009). Marketing Management, (5th Edition). South Africa: Juta and Company Ltd. Hiebing, R. G, Hiebing, R. & Cooper, S. W. (2004). The One-Day Marketing Plan: Organizing and Completing A Plan That Works, (3rd Edition). New York: McGraw-Hill Professional. Kotler, P. (2006). Marketing Management (12th Edition). New York, USA: Prentice Hall Pvt. Ltd. Loudon, D. L., Stevens, R. E. & Wrenn, B. (2004). Marketing Management: Text and Cases. UK: Routledge. Get 100% original business case study assignment help services from our experts. We assure you that you will get authentic content from our US and Australia assignment help experts.You can first check our assignment paper quality then you can confirm your assignment with us. We have more than 15 years experience of proving business assignment help to our US,UK and Australian students.