Consumers Take a Shine to Apple Inc.
Consumers Take a Shine to Apple Inc. Case Summary:
Apple came back from near extinction to become one of the most revered technology companies in recent memory. They achieved this status by developing innovative design products and pushing the limits of their marketing prowess. Apple is known for their ability to listen to consumers and revolutionize market segments by providing modern design laden and feature rich alternatives to the target markets. They employ strategies that might contradict normal convention by keeping their prices high to build a brand image of prestige and promote their products through word of mouth. The impact on marketing is hugely noticeable by other companies following suit with store models resembling Apple stores.
Key Marketing Issues
1. Identify Trends – Apple built its business by recognizing trends for the ditial consumer. As Apple products continue to age and become saturated in the market they must look to uncover the next big “it” product to brand as their own.
2. War with Competitors – Apple holds many patents on software and hardware that competitors imitate to bring products to market. With the complicated war between companies Samsung and Apple reaching the masses, people start to take sides and demonize Apple. Apple must learn walk the fine line of protecting it’s intellectual property without being seen as the big corporate entity that attacks every other company that tries to enter the market.
3. Innovation – Apple’s core products have enjoyed largely rave reviews and enormous profits, but the target market is starting to feel that Apple products are not as revolutionary as before. Even though the processers and screen quality continue to rise, the need to upgrade or buy another version of the same product is waning in consumer’s minds. Apple cannot lose sight of this and continue to explain the benefits of its products to consumers.
4. Remember Customers old and new- Apple is known for
Apple came back from near extinction to become one of the most revered technology companies in recent memory. They achieved this status by developing innovative design products and pushing the limits of their marketing prowess. Apple is known for their ability to listen to consumers and revolutionize market segments by providing modern design laden and feature rich alternatives to the target markets. They employ strategies that might contradict normal convention by keeping their prices high to build a brand image of prestige and promote their products through word of mouth. The impact on marketing is hugely noticeable by other companies following suit with store models resembling Apple stores.
Key Marketing Issues
1. Identify Trends – Apple built its business by recognizing trends for the ditial consumer. As Apple products continue to age and become saturated in the market they must look to uncover the next big “it” product to brand as their own.
2. War with Competitors – Apple holds many patents on software and hardware that competitors imitate to bring products to market. With the complicated war between companies Samsung and Apple reaching the masses, people start to take sides and demonize Apple. Apple must learn walk the fine line of protecting it’s intellectual property without being seen as the big corporate entity that attacks every other company that tries to enter the market.
3. Innovation – Apple’s core products have enjoyed largely rave reviews and enormous profits, but the target market is starting to feel that Apple products are not as revolutionary as before. Even though the processers and screen quality continue to rise, the need to upgrade or buy another version of the same product is waning in consumer’s minds. Apple cannot lose sight of this and continue to explain the benefits of its products to consumers.
4. Remember Customers old and new- Apple is known for
Cited: Moorman, Christine, “Why Apple is great marketer”, Forbes, http://www.forbes.com/sites/christinemoorman/2012/07/10/why-apple-is-a-great-marketer/