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iPhone Marketing Mix Variables 4

I-PHONE MARKETING MIX VARIABLES

iPhone Marketing Mix Variables

Introduction

Marketing is a significant aspect of every business. It includes every individual that deals with clients either directly or indirectly. How a company markets its product directly impacts the way, it responds to its clients since the product has contact with clients, and this speaks about the company itself. Through the help of the marketing mix, companies can easily attain their business objectives and goals. A marketing mix requires the strategies regarding the execution of a marketing plan. The marketing mix called the 4Ps is the commonly used guideline by many businesses to define these strategies. The current section of the paper will examine the iPhone as a product and discuss the product, pricing, promotion, and place strategies put in place by iPhone.

Product Strategy

The Apple Company usually makes a new iPhone every year. The new iPhone always have features that are better than the previous one. Presently, it has iPhone 11 in the market, which comes after iPhone X and iPhone 8 as well as other trailing versions. Even though it is expected that an introduction of a new product should result in reduced sales volume, the case is different from the iPhone. The reduced price of the old version of the phone attracts a diverse group of clients compared to the current ones, while the new clients tend to emphasize more on tech specifications (Fan et al. 2015, p. 29). iPhone as a product offers its clients an unmatchable operating system. It has a faster processor that gives it exceptional speed that supersedes any of the product's competitors. It also has a flexible working environment as well as natural multitasking capabilities. The Apple Company ensures that they store innovative apps in the apple store, usually first movers. These apps may later get copied by other competing brands in the market. Several of their available apps can get linked to some of Apple's products, such as MacBook. The strategy helps the company hook and retain all other products too.

Pricing Strategy

The product employs a skimming strategy since it is unique both in quality and status. Skimming price implies that for a product brand to become well-positioned, it has to conduct a lot of research and development always to offer an X-Factor with every new product launch. The research and development involved and the X-factor that comes with it allows the iPhone to price its products high as part of its pricing strategy in its marketing mix. The target customers, who are always very loyal, accept this price with gladness. As part of its pricing policy, Apple does not offer any discounts to the clients in any of the products it sells. It believes that providing discounts may result in loss of attention from the high-status category or lead to brand dilution (Fan et al. 2015, p. 30). Though, the online store and the selling store often offer the products at a discounted price, especially after a market price reduction, happening after every new launch. Equally, the iPhone has a consistent pricing policy applied in all markets. Though, for purposes of having price effectiveness, it employs a cost-effective strategy in its operations. The company ensures a slight cost incurred in manufacturing but maximum in the research and development. The company also offers an experience to its clients, thereby adding value to their products, and this reflects in the high prices.

Promotion Strategy

iPhone has achieved a privileged market position owing to its several differentiating aspects. Every new version of the phone it produces must come with a new tagline. iPhone six had a statement mentioning that the only thing that had changed was that everything changed. Such a position on its own has an effect that promotes the brand. In its adverts, the iPhone does not focus on its competitors but communicates how the entire world is transforming at the launch of every new iPhone, meant for its tech-savvy clients. New product launch events done by iPhone are always dramatic ones. The newly launched features, such as the wireless charging system and the related technologies, often amaze the clients (Fan et al. 2015, p. 32). The company equally utilizes social media platforms such as You tube to communicate the unique features it has and used by tech experts to compare specifications. The major ones are the sales offers dealing with second-hand items. Others are the sales agents that possess the required knowledge and the point of sale promotion. Therefore, with its peculiar value proposition, the iPhone achieves a high standard for its product and does not have any close competitor currently. The position can be attributed to the fact that it has many loyal clients that are always ready to pay any price for their products.

Place/Distribution Strategy

As part of its marketing mix, iPhone has established a robust place and distribution strategy. The company has I-stores that are well equipped with highly knowledgeable staff to offer services. The team gives maximum effort and time to pass numerous tech specifications to clients. The stores have highly trained sales agents that serve to provide advice to clients and create an excellent experience. The act improves the experience a customer has when purchasing an iPhone. Such an exclusive sales center receives its products directly from the manufacturing company at a reduced price. Also, the company has Independent Stores, which can also be called a few high-class stores. They are found mainly in large malls, and they do not place iPhone collectively with other mobile phones. Purchasing from such premium stores offers an exclusive experience as they are premium stores in themselves. These stores receive their product from a distributor and not directly from the company. Similarly, the iPhone is also available in online stores. Many only sites such as Amazon, eBay, and Flipkart sell iPhone. The company also has a website that helps clients locate the nearest store where they can purchase the product. Further to that, there exists a second-hand market where the iPhone can get bought. A big fair is available where second hand iPhone mobile set can be purchased. These markets attach their durability as well as the status symbol on them. An example of such a market dealing with second-hand sales is eBay. Lastly, the iPhone has a widely known after-sales service that they offer to their clients.

Conclusion

Companies use the marketing mix to help identify the controllable variables in business and bring them together to assist the business in achieving its objectives and targets aimed at satisfying its customers in the best way possible. The marketing mix's commonly used tool is the 4Ps (Product, Price, Promotion, and Place/Distribution). As a company, Apple has effectively employed its marketing mix to achieve proper positioning for its iPhone globally. It has branded itself as a company that offers high quality, valuable and innovative phones. The company has succeeded in telling the awareness and responsiveness of the many clients it has across the world and further adjusting its marketing mix strategies to fit these target markets as a way of increasing sales.

Reference

Fan, S., Lau, R.Y. and Zhao, J.L., 2015. Demystifying big data analytics for business intelligence through the lens of the marketing mix. Big Data Research, 2(1), pp.28-32.