Question

Instructions: Need proper and complete answer (containing minimum 500 words) for following question related to 'Principles of Marketing'. Please include an additional listing of any references or supplemental materials used. Feel free to use whichever reference style you prefer. If you reference information from the Web or from any other sources (e.g., journal articles, library books, textbook), make sure that you do not copy the material verbatim (i.e., copied exactly from the original word for word). You should paraphrase (i.e., write in your own words) the information.

Question: Analyze a consumer or business product or service. To what segment(s) of consumers/businesses do you think it is targeted? Discuss the positioning of the product or service relative to competitors. How successful or unsuccessful has this positioning been? Would you suggest an alternative positioning or a repositioning? Why or why not? Identify any niches that might lend themselves to new products or services in the same category..

Answer 1

My answer will discuss Apple Company and its iphone as consumer product. Apple is global electronics company which manufactures and sell Iphones to customers all over the world. Iphones have thier own position in the market due to its design, Unique OS that is iOS and innovative features.

Segmentation and Targeting-

As we know that segmentation is very necessary before a company sell their product. Under segmentation, Business divide the market based on certain characteristics and then target the specific group by selling the iphone to those consumers.

Apple uses Demographic and pyschographic segmentation criteria-

Demographic criteria-

Under this segmentation, A business focuses on segmenting market based on factors like age, gender, education,income level,marital status etc.

Apple's target customers under this criteria are Both Males and females who have high income level. Customers who belong to high social class. Customers who are business man and professionals.Apple also target customers who are young students in college and universities.

Pyschographic criteria-

Under this segmentation, A business uses factors like lifestyle, attitude, personality,beliefs, traits etc.

Based on that, Apple target customers who likes to show off to their peer groups. Customers who believe that apple's iphone are modern and premium. Customers who are loyal to apple brand.

for example- If i buy latest iphone say iphone 11 pro of high end version then i may show off it to my friends, relatives and post images on social media of mine so that other people would know.This is trending now a days where people buy luxury brand products then they tend to show off.

Positioning-

Positioning is very important part of marketing for apple. Under this stratgey, apple as brand want to create a unique and premium image in the minds of customers. Positioning is all about putting brand image in the mind of customers by the company.

Apple uses Individual brand name positioning stratgey in which apple wanted to create apple as premium and top class brand in minds of its customers.

Apple's positioning is successful and working like a charm. We all know that apple's phone have never given storage options and dual sim support but there are many phones which provide such options still people buy apple's iphone. Why? this is because of brand image in minds of customers.in 2019, the revenue of came from iphone was $25.99 billion.

I would suggest no change in its positioning strategy because any company would want to achieve what apple has been able to achieve by its iphones. People may argue that iphones are not that great but it is brand value which cover cons of iphone and persuade people to buy iphones. Being premium brand as position in minds of custoers not require any change.

If i have to suggest a niche to apple which can be related to category of iphone then i would suggest apple to focus on expandable storage devices like Pendrives, harddisks also original brand accessories which apple can sell them at profit. These two niches will complement its iphone and loyal customers will buy them from apple. for example- storage devices which can be used on iphone and mac device for security and privacy purposes only.

ref-

Chris Welch,Jul 30, 2019,"The iPhone now makes up less than half of Apple’s business" from verge

Philip Kotler and Gary Armstrong, Principles of Marketing, Pearson, 2014

note- above answer is in my own words and we are not allowed to give external ref still i provide them for your help.

*hope this will help you in your homework. pls give this a upvote i would appreciate. thankx