Managing Customer Value

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Q.1 (a) Identify and elaborate the market entities from reading materials 1 and 2.

Marketing can be defined as the process of planning and executing the conception of pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives. It is all about meeting the needs and wants of customers. Apple Inc. had always had their unparallel ways of marketing and advertising their products, which too are set apart from every other brand in their own unique styles. Marketers usually market ten types of entities:

Goods: These are physical goods that may be manufactured or produced. In case of Apple products, the goods that they market are iPhone, iPad, Macbook, etc. Services: These are the intangible products that involve performing some services for the customers. A service may be performed on the customer, such as a haircut or on customer possessions, such as, servicing of a car. Apple’s services take in their before and after sales services, including warranty, training of the products for new users, etc. As the article says, for example, when iPad was launched in Malaysia, it came along with great service options like data plans of iPad with Wi-Fi + 3G. Telecommunication companies like DiGi, Maxis and Celcom had introduced the micro SIM card for both iPhone 4 and iPad. They allowed users to browse the Web, read and send emails and enjoy and share photos from anywhere in the country with network coverage. Events: Events are any time-based shows such as New Year’s celebration, sporting event, etc. In terms of Apple, the launch events they use every year mostly in October as of now the hype is all about the new iPhone. According to reading material one, UK holds an annual Macworld Expo every year where they first introduced Apple’s new iPhone on January 2007.

Experiences: Experiences result from a combination of products and services. Apple has learnt that their customers want unsurpassed...
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