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Marketing Concept by Apple Inc. Brand

About this sample

About this sample

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Words: 2595 |

Pages: 6|

13 min read

Published: May 24, 2022

Words: 2595|Pages: 6|13 min read

Published: May 24, 2022

Table of contents

  1. Executive Summary
  2. Introduction
  3. Understanding Customers and Markets
  4. Enhancing Product and Brand Image
  5. Apple's positive product and brand Image
  6. Understanding Customers and Markets
  7. Big Data
    Marketing Analytics
  8. Conclusion
  9. Reference List

Executive Summary

This report focuses on the applicability of the marketing concept by Apple Inc. The report critically analyzes how Apple Inc. achieves its corporate goals through meeting and exceeding customer needs and expectations better than the competition. One of the key reasons for Apple's success is its ability to effectively achieve customer satisfaction better than competitors. Moreover, the report analyzes the aspect of understanding the customer and the market. Through surveys, Apple obtains feedback from existing and potential customers and uses this information to create products that satisfy the needs in the market. I also evaluated the aspect of enhancing product and brand image. It was found that customers have a positive attitude towards apple products and brands. The company is associated with quality. All these factors have led to the high profits Apple enjoys. I recommend that the company invests more in attaining 100 percent customer satisfaction because the gap with the competitors is very small.

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I have also critically evaluated the role that technology advances have played in helping Apple develop new product offerings and in understanding customers and markets. Big data and marketing analytics have been used by Apple to improve its production and understanding of the market. Through understanding the behavior and trends in the market, Apple has been able to develop improved products. I recommend that the company invests more in big data because of the future opportunities this technology offers.

Introduction

This report therefore critically evaluates the applicability of the marketing contempt by Apple. The marketing concept is a marketing management philosophy that has been applied effectively by Apple enabling the company to a world-leading technological giant. Apple Inc. focuses all of its efforts at satisfying its customers across the world and at the same time making a profit. This report focuses on the coverage of marketing concepts in various aspects. Firstly, it will critically evaluate how the company has achieved and is achieving its corporate goals through the meeting as well as the needs and expectations of its customers better than the competitors. Secondly, the report discusses the role of marketing concepts in understanding customers and markets. Thirdly, the report discusses the product and the brand image of Apple.

More so, when we talk about technological advancement, Apple and its products come in mind. Apple together with Facebook, Google and Amazon is the largest technology company in the world. Technology advancement facilitates the operations of these companies. This report will, therefore, focus on identifying how Apple is using technology to understand its customers and markets. More so, the report will analyze how the advancement of technology is helping Apple to develop new product offerings.

Achievement of corporate goals through the meeting as well as the needs and expectations of its customers better than the competitors. To achieve its corporate goals Apple focuses on meeting and exceeding its customer needs and expectations better than the competitors. Achieving customer satisfaction is one of the key strategies used by Apple to achieve its corporate goals. University of Michigan's American Customer Satisfaction Index (ACSI) data have shown that for many years Apple's products have been achieving the highest customer satisfaction score. Macs and iPads were found to have the highest customer satisfaction score compared to any other products made by Apple's competitors. Both in 2018 and 2019 had an ACSI score of 83 which was the highest according to the Household Appliances and Electronics Reports. Generally, Apple has for over 15 years scored higher ACSI scores than all its competitors. This explains why Apple is the most profitable company in America making $59.53 billion in the 2018 financial year. In the world, it comes second as the most profitable company second only to Saudi Arabia's Saudi Aramco which in 2018 made $111 billion.

As the marketing concept holds, Apple determines the needs and wants in its target market in the technological market and delivers satisfaction more effectively than Amazon, HP, Samsung, and many other competitors. Rahman, and Safeena, the customer needs a reason why they should buy from a business and not from its competitors. This is referred to as a Unique Sales Proposition and it gives the company a competitive edge. With this understanding, Apple has invested in delivering something extra to the customers so that to keep them satisfied, earn their loyalty, and be able to attract new customers. Apple Company makes products that first fill the needs of the customers and at the same time inspire the customers and this forms the basis of marketing efforts. The company applies an approach known as ‘start with the why' which has enabled the company to connect well with the customers. The company understands the daily needs of people and it has created an ecosystem of complementary products that make life in many aspects fun and easier.

Understanding Customers and Markets

Understanding customers and markets is an important aspect of the marketing concept. Understanding the customer and the market helps to create the appropriate products and it also helps in the creation of effective sales and marketing efforts. To understand the customers and the markets, a business must ask various questions. For example, to understand the customers, various factors need to be evaluated. They include: Who are customers are, what products or services they purchase, and why they purchase these products or services. Understanding the customer's hows and whys assists the company to develop better products, and services and improve customer experience. The customer needs and the market is very dynamic. One of the key tools in understanding customers and markets is marketing research. It helps the company in determining changes in the market, improve market awareness, and understand the needs and expectations of customers. More so, marketing research reduces the risks and uncertainty, helps in predicting the future, and helps the organization to make the right marketing decisions. In a patent case against Samsung (which year) court documents clearly that Apple conducts market research. The research was aimed at comprehending the buyer behavior of Apple's customers at that time and what motivated them to choose the company's products.

Additionally, in 2011, it carried out surveys on its iPhone users to understand customers and markets in different countries. It was determined for instance iPhone users in China were driven by Apple's brand and design to buy the company's products more than the software and apps. The survey found out that 67% of Chinese customers were motivated by physical features and designs. The survey found that in the United States and China, trust in the brand was a determining factor among the buyers. The decision by the late Steve Jobs to state that Apple does not conduct market research was a strategy to avoid its competitors from understanding how Apple understands its customers and markets. To deliver desired satisfaction in an effective manner than the competitors requires made Apple to treat market research as a trade secret. Apple carries out different kinds of surveys and analyses to understand the customers better.

Enhancing Product and Brand Image

Product and brand image are crucial drivers of brand equity. Brand equity is the overall perception of the customer and it influences the customer's behavior. The central aim of the marketing activities in any organization is to impact the perception of the customer and their opinion of the brand. These activities also aim at establishing the image of the brand in the mind of the customer, stimulating the actual purchasing behavior of the customer towards a product and brand and as a result, sales are increased, market share maximized and brand equity is developed. Studies have revealed that product and brand image has a positive impact on customer satisfaction and enhances loyalty.

Apple's positive product and brand Image

When the word Apple is mentioned, what comes in mind is an innovative company. People visualize technology playing a central role in their lifestyle, passion, and imagination. The presence of services such as Apple Music and Apple store has improved the brand of the product and brand image of iPhone and Apple Inc. in general. Apple has a brand that has humanized technology creating a positive attitude towards customers. The company products have sleek designs which together with the software (iOS) and Applications. More so, Apple products are associated with high quality and this has increased customer loyalty. The positive product and brand image of Apple Inc. have enabled the company to create a loyal customer base and it has the largest market share. Every time the company launches a new product, long queues are a common site in Apple stores. The company's market position is facilitated by customer loyalty giving Apple a competitive advantage against other companies.

Critical analysis of how advances in technology have assisted Apple Inc. to improve:

  • Developing New Product Offerings
  • Big Data and Marketing Analytics

Big data helps provides businesses with improved use of resources as well as storage. It is also helpful in reducing computation time and making the right decisions in the business. The use of big data to make a business decision is crucial in a competitive market. It allows the business to make decisions that are smarter, and which are useful in the future. Big data helps companies like Apple to comprehend and extract meaning from the whole range of information that is available worldwide. Apple Company, for example, uses big data to facilitate broader, deeper, and more precise insight, hence improving its decisions. The company gets an accurate understanding of the market and customers and therefore it can deliver more accurately tailored products. Using big data, the company can determine the best way to approach a new product. Apple is using big data to understand how people are using mobile Applications and new designs are altered to fit with the behavior of the customers. Moreover, big data is being used by Apple to determine how customers use the company's products such as iPhones, iPods, iPads, Macs, and Macbooks. This information is being used to develop new products and improve new versions of the current products. Big data has been used by Apple to venture into wearable technology, digital health, entertainment e.g. Apple Music, and cloud storage. Big data is also continuing to revolutionize these technologies improving customer experience. Through marketing analytics, the company can create and use quantitative data to derive consumer insights and be able to make the right decisions when creating new products.

Understanding Customers and Markets

Big Data

About 180 billion Apps have been downloaded from the company's Apple Store. This provides a huge amount of data about customers and markets. Analysis of this data obtained from the application is crucial in understanding the company's customers as well as the market. The company uses technologies such as Hadoop they understand the needs of their customers and as mentioned before use this information to develop new products. Most of the products and services offered by Apple can collect data about the customers. This data is used to understand the attitude customers have towards Apple. Furthermore, the company has got a better understanding of the market, therefore, discovering new opportunities. Using data with the company and from outside, Apple can understand the needs and wants in the market and also discover opportunities that exist in the market. Big data has also improved how Apple understands the customer decision journey. Through this understanding, the company has been able to increase customer loyalty and has been able to attract other potential customers. Apple is now a leading global brand and its success across the world is because it now understands both local and global trends in the market using big data. Its effective marketing technologies have been also enhanced by processing big data.

Marketing Analytics

Marketing analytics is important for Apple's strategy to remain a competitive brand. To be able to remain competitive, a company must understand the customers and the market very well. The company needs to understand why a customer makes certain decisions, customer opinions about those decisions, and customer experiences while interacting with the company. With an accurate understanding, the company is capable of forecasting customer behavior, therefore, improving customer experiences. Using big data, Apple has been able to understand their customers and hence improve the customer experience. This is one of the reasons for many consecutive years Apple has achieved the highest customer satisfaction score. Predictive analytics have been used by Apple to be able to forecast what next. Through the buying behavior of the customers, Apple can understand the future trends and create products that the customers will need. Through Apple Music, for example, marketing analytics are carried to understand the customers and the market. Apple Music apple is, therefore, able to suggest music that customers would like to stream in the future because it understands the market well.

Conclusion

In conclusion, Apple is one of the companies that have determined the needs and wants of the customers in the target market and use puts effort in satisfying those needs better than the competitors. Apple achieves its goals by satisfying and exceeding the needs of its customers. For years Apple has been receiving the highest American Customer Satisfaction Index (ACSI) score. More so, Apple first understands its customers and the target to be able to deliver products and services that satisfy the needs of their customers. The company carries out surveys and feedback obtained from customers and markets is used to improve the products offered. Furthermore, increased customer loyalty and having the largest market share shows that customers have a positive attitude toward Apple's products and brand image.

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The existence of Apple is basically due to advances in technology. Big data plays a key role in developing new products offered by Apple and understanding customers and the market. Through big data, the company can understand the behavior of its customers, and the trends in the market. As a result, the data is used to improve the latest versions of their products and to develop new products for the market. This has been significant in the improvement of every product by Apple and better interactions with the customers. Business analytics has also helped the company to develop new products based on trends in the market and also has enabled Apple to get a better understanding of the customers and markets.

Reference List

  1. Al-Shatanawi, H. A., Osman, A., & Ab Halim, M. S. (2014). The Importance of Market Research in Implementing Marketing Programs. International Journal of Academic Research in Economics and Management Sciences, 3(2), 150.
  2. Buckley, J. (2015). 'How Apple is Using Big Data.' https://www.socpub.com/articles/how-apple-is-using-big-data-13719 (Accessed October 2019).
  3. Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business intelligence and analytics: From big data to big impact. MIS Quarterly, 36(4).
  4. Davies, J. (2018). 'Apple, a perfect example of what can be achieved through customer loyalty.' https://telecoms.com/491242/apple-a-perfect-example-of-what-can-be-achieved-through-customer-loyalty/ (Accessed October 2019).
  5. Farrell, C. (2015). Global Marketing: Practical Insights and International Analysis. Sage.
  6. Gopalkrishnan, V., Steier, D., Lewis, H., & Guszcza, J. (2012, August). Big data, big business: bridging the gap. In Proceedings of the 1st International Workshop on Big Data, Streams and Heterogeneous Source Mining: Algorithms, Systems, Programming Models and Applications (pp. 7-11). ACM.
  7. Imbert, F. (2019). 'Saudi Aramco made $111 billion in 2018, topping Apple as the world's most profitable company', https://www.cnbc.com/2019/04/01/saudi-aramco-made-111-billion-in-2018-topping-apple-as-the-worlds-most-profitable-company-by-far.html (Accessed October 2019).
  8. Liebowitz, J. (Ed.). (2013). Big data and business analytics. CRC press.
  9. Mithas, S., Lee, M. R., Earley, S., Murugesan, S., & Djavanshir, R. (2013). Leveraging big data and business analytics [Guest editors' introduction]. IT professional, 15(6), 18-20.
  10. Moorman, C. (2018). 'Why Apple Is Still A Great Marketer And What You Can Learn', https://www.forbes.com/sites/christinemoorman/2018/01/12/why-apple-is-still-a-great-marketer-and-what-you-can-learn/#6c1905c415bd (Accessed October 2019).
  11. Rahman, M. R., & Safeena, P. K. (2016). Customer Needs and Customer Satisfaction.
  12. Zhang, Y. (2015). The impact of brand image on consumer behavior: A literature review. Open journal of business and management, 3(1).
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Marketing Concept by Apple Inc. Brand. (2022, May 24). GradesFixer. Retrieved July 17, 2024, from https://gradesfixer.com/free-essay-examples/marketing-concept-by-apple-inc-brand/
“Marketing Concept by Apple Inc. Brand.” GradesFixer, 24 May 2022, gradesfixer.com/free-essay-examples/marketing-concept-by-apple-inc-brand/
Marketing Concept by Apple Inc. Brand. [online]. Available at: <https://gradesfixer.com/free-essay-examples/marketing-concept-by-apple-inc-brand/> [Accessed 17 Jul. 2024].
Marketing Concept by Apple Inc. Brand [Internet]. GradesFixer. 2022 May 24 [cited 2024 Jul 17]. Available from: https://gradesfixer.com/free-essay-examples/marketing-concept-by-apple-inc-brand/
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