Apple's Extended Marketing Mix
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| Product
Global Gadgets (2017) | Apple is The Leading Premium Gadgets Manufacturer in The World. https://medium.com/@globalgadgets/apple-is-the-leading-premium-gadgets-manufacturer-in-the-world-5606ac06c7d2 [Accessed 23 July 2019]
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| Price iGeeksBlog (2018) | Apple’s Pricing Strategy: Best Things Are Always Cheapest. https://www.igeeksblog.com/apple-pricing-strategy/ [Accessed 23 July 2019] |
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Product
Dezeen.com (2013) | Apple trademarks ‘distinctive design’ of its stores. https://www.dezeen.com/2013/01/25/apple-trademarks-design-stores/ [Accessed 23 July 2019]
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| Promotion Engadget.com (2019) | Apple took out a CES ad to troll its competitors over privacy. https://www.engadget.com/2019/01/05/apple-ces-2019-privacy-advertising/ [Accessed 25 July2019] |
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| People BBC News, Singapore (2018) | Five big things that have made Apple. https://www.bbc.com/news/business-45044963 [Accessed 25 July 2019] |
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| Physical Evidence YouTube (2018) | Apple Explained. https://www.youtube.com/watch?v=d9A_P9CeGtg [Accessed 31 July 2019] |
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Process
interaction-design.org (2019) | Apple’s Product Development Process – Inside the World’s Greatest Design Organisation. https://www.interaction-design.org/literature/article/apple-s-product-development-process-inside-the-world-s-greatest-design-organization [Accessed 31 July 2019] |
Product
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably” (Chartered Institute of Marketing). The success of a business relies heavily on the development of the product or service being offered. Without product demand, the profitability of a business is at risk.
Apple have experienced marketing success by creating high-end products and leading the way in technology within the electronic industry. These quality products generate customer loyalty and confidence in the Apple brand. Differentiation is a key aspect in product development which ensures Apple remains a step above its competitors.
Apple sell a large range of electronic devices including mobile phones, tablets, computers, laptops, smart watches and more. Apple products are highly renowned world-wide for their user-friendly interface, sleek, modern design and constantly adapting technology. To date the most noteworthy product Apple have released is the Apple iPhone which has revolutionised the mobile phone industry. iPhone sales consistently make up around 60% of Apple’s overall revenue (Statista, 2019).
Apple products are designed following intensive research, as understanding what consumers want ensures the sustainability of a company (Marketing 91, 2019). The elegant, modern design of not only Apple products but also the Apple logo symbolises luxury which appeals to consumers. The Apple logo and Apple products are recognised around the globe which builds trust and confidence in the brand, which is religiously followed by millions of people (Global Gadgets, 2017). 92% of iPhone users who plan to get a new phone in the next 12 months say they’re “somewhat or extremely likely” to stick with Apple (Business Insider Australia, 2017). This loyalty to Apple products ensures customer retention and therefore, is a successful marketing strategy.
Apple is at the forefront of the electronic/technology industry. With creative, innovative products Apple is able to keep consumers captivated with what new features or impressive new devices will be released next. The hype around the release of an Apple product is second to none, with thousands of loyal followers lining up for hours, sometimes days before the anticipated launch of a new iPhone. Having the latest and greatest iPhone is somewhat of a superior status symbol, prompting consumers to aspire to be the first to get their hands on the newest products (The Guardian, 2017).
Apple sets itself apart from competitors with a “Think Different, Be Different” attitude (Tech.pinions, 2012). Product differentiation is a marketing strategy in which Apple excels in, due to the distinctive design of their products. When Apple released their most significant products – the iPod, iPhone and iPad - no other electronic products compared to the advanced features or unique style of these iconic devices (Bizfluent, 2018). Since the release of these products competitors such as Samsung have battled to create equivalent products, releasing comparable smart phones and tablets. Although Samsung is arguably the next most successful tech company, Apple still stands out as the clear leader with Samsung’s market capitalization of about $154 billion, barely a quarter the size of Apple’s. (Investopedia, 2019)
In conclusion, it is evident that product is an extremely successful marketing tool for Apple and the market leading company would not be where it is today without such successful, innovative products. Being a market leader and with a loyal customer base Apple are in a prominent position to continue to progress and grow the business with a product development a key strategy to their success.
