Question

ANSWER FOR THE FOLLOWING BRAND APPLE AND ITS PRODUCTS SPECIFIALLY THE :LATEST IPHONE

1. This product specifically... Who is the target market?
   1. Demographic:
   2. Geographic:
   3. psychographic
2. Subculture References:
   1. Ethnic / African American / Hispanics / Asian American / Native American / Asian Indian / Arab Americans
      1. Religious subcultures
3. Values of this target market?

Answer 1

The market needs to be segmented into a distinct segment before it is targeted with the product's value proposition.

In the given case the product is Apple's latest iPhone 11 which costs almost $1000 or more. Apple can use the segmentation approaches which are based on demographic, geographic, and psychographics to find out the segments of the market to be targeted.

a. Demographic Variables: Age- 14 to 35 Years, Gender- Both male and female, Income - Middle-income group

b. Geographic: All such demographic variables present across the geography.

c. Psychographic: Interest in new iPhones, Positive attitude for Apple's product, People who value their standard of lifestyle like modern lifestyle.

d. Ethnicity: All ethnicity, iPhones need not create a segment of customers based on ethnicity as all are their customers.

e. Religious Subculture Value: Again this segmentation criteria is not important for iphone. Hence, customers from all type of religious subcultural value will be considered.