Apple is the most famous and renowned technological brand, leading the technological innovation market from many years. It was the first brand who reach to the market value of over $700 billion. However, as per the report of the fresh research, the Google is topping the world’s most famous and valuable brands list and thus replaced Apple. Monetary value of Apple also reduced last year, and Google as being the major competitor, raised its value sharply. This also effect the brand value of Apple, and there could be multiple reasons for this, like decline in the demands of PCs and laptops, or the product’s premium pricing. Traditionally, Apple as being the technology giant, only dealt in very limited product range. However, recently, it expanded itself in different array, and added new and different categories of software and hardware. Still, it is further planning for diversification in different aspects. Apple’s closes system could also be the reason for the decline in value. Apple has the competitive advantage in terms of its products are not such compatible with its competitor’s brands and products. Its software and hardware are only compatible with Apple’s own products. Marketing mix analysis is done on Apple Company (Pratap, 2017).
Products in Marketing Mix of Apple
The product mix of Apple has been widened a lot recently, like Apple TV, Apple watch, and other apps. There is a list of Apple products;
• IPad
• IPhone
• IOS
• MacBook
• iWatch
• MacBook Pro
• IWork
• IMac
• Swift playgrounds
• MacOs
• ILife
• Apple TV
• ITunes
• IPod Nano
• IPod
• IPod shuffle
• Apple music
• IPod touch
• ICloud
• Apple pay
The product portfolio of the Apple has been expanded and grown vastly with many new product categories and range which include software. As being the technology giant, it further plans to grow by entering in different product lines such as solar energy, to diversify the risk. While, Apple’s sales are declining because of decline in the demand of Pcs and laptops in previous years, however, iPhone remains the most popular product. Its software are only for its own products and support the capabilities of its own products. ICloud provides the set of several free cloud services to its existing users and loyal customers. These services, helps them and work seamlessly always with IPhone, IPod, IPad, PC and Mac. Customers and users can wirelessly and automatically upload contents on iCloud and could be able to use whenever they want from other Apple devices. Due to several software and devices, the product mix of Apple has grown and expanded largely. But the major issue still exist, which is not being compatible to other brand’s devices (Apple, 2018).
Place in Marketing Mix of Apple
Apple has very diverse distribution channel. It has its persona retail stores along both offline and online channels, it uses different channels for distribution purpose. Products of Apples can easily be found through offline and online channels. Customers can easily shop it through their own website. Account needs to be build, then sign in and then shop through apple.com. Products of Apple are also available at on different retail websites such as Amazon, eBay, and other e-retailers in market. The distributors of Apple are broadly located in the whole world, and its sales comes from all around the globe. These distributors are also the corporate resellers. There are local retailers also, who sell Apple products.
Distribution channels of Apple are;
• Local e-retailers and electronic retail outlets and stores.
• Online retail through sites such as Amazon, eBay and other e-retailers.
• Apple own website.
• Apple stores.
• Corporate resellers (Greenspan, 2017).
Price in Marketing Mix of Apple
Apple is successful in developing the image of being a premium brand. It never makes a low cost item, part of its product portfolio. Apple follows the strategy of premium pricing, which is meant to develop the impression off the valuable and high-end technology. Apple manufactures technologically innovative products, which can easily cater the needs and wants of high-end consumers and users. From its MacBook to iPod and iPads, all have premium price tags. One thing that remain constant was not reducing the prices of the products, and Apple never adopted this strategy even if its markets were diluting. It is very confident on its new and unique technology, aesthetic beauty and designs. However, prices are also set according to its uniqueness and innovation. The pricing strategy of Apple products reflects on the significant investment made on manufacturing that product like R&D, raw materials, labor and technology (Marketing, 2018).
Promotion in Marketing Mix of Apple
The marketing strategy of Apple is very smart and so accurate according to the product line. It uses both unconventional and conventional techniques for promoting the products. Firstly, the product of Apple are much sought that it seems new even after its release in markets. Reviews and word of mouth are the major tools of marketing and always worked for Apple as it brought positivity and created a publicity about every product. The products of Apple are promoted through websites and other online mediums like social media, SEM etc. It also used commercial advertisements and print media for marketing purpose. Its advertisements always highlight the different features of the product, its designs and uniqueness. The media releases the launch time of its new products and smart techniques of promotions are utilized by Apple in very effective way. Apple always try to communicate in a way, which helps it in creating value in the hearts of customers. Apple is working hard to penetrate in the Asian markets deeply, so it increased its efforts and investments on marketing and promoting its product line in other emerging markets (Pratap, 2017).
References
Apple, 2018. About Apple. [Online], Available at: https://www.apple.com/, [Accessed on: 24th June, 2018].
Greenspan, R. 2017. Apple.inc marketing mix (4p’s). [Online], Available at: http://panmore.com/apple-inc-marketing-mix-4ps, [Accessed on: 24th June, 2018].
Marketing, 2018. Apple marketing mix. [Online], Available at: http://www.marketingteacher.com/apple-marketing-mix/, [Accessed on: 24th June, 2018].
Pratab, A. 2017. Apple marketing mix. [Online], Available at: https://www.cheshnotes.com/2017/02/apple-marketing-mix-4ps/, [Accessed on: 24th June, 2018].