Marketing Mix is a major theory in modern marketing that involves basically all that a corporation can utilize to persuade consumer perception auspiciously in favor of its products or its services, in order to meet organizational and consumer objectives. That is, marketing mix involves crafting and implementation of a marketing plan. In this assignment, I will discuss the most important marketing mix variables as grouped by Prof. E. Jerome McCarthy: i) Product
iv) Place (Distribution)
During this assignment I am going to be making my reference to Apple Inc., specifically looking at their iPhone product. I will therefore refer to Apple and how they diversified their iPhone products, the iPhone price assortment, iPhone’s places for distribution and the promotional approaches they have adopted to advance these products.
0.1.0 Company Background
Apple Inc. is a multinational corporation headquartered in Cupertino, California, U.S. It is one of the world’s most admired brands, topping the Fortune Magazine’s list for title for three years in a row, for the years 2008, 2009 & 2010. Apple designs and manufactures consumer electronics, computer software, and commercial servers. The company was founded by its current CEO, Steve Jobs and Steve Wozniak in April 1976. The duo’s affiliation began a number of years before when Wozniak, a gifted, self educated electronics engineer, started creating boxes that helped him to make long distance free phone calls. Apple has approximately 35,000 workers worldwide and worldwide annual sales of US$42.91 billion in the financial year ending September 26, 2009. For reasons as various as its culture of broad aesthetic design to its distinct marketing campaigns, Apple has over the years set up a unique reputation inside the end user electronics industry. This reputation takes account for a customer base committed to the company and the brand, predominantly in the United States.
0.2.0 Product Background
The iPhone began with Jobs’ path that Apple Inc. engineers look into touch-screen mobile technology. At the time he had been taking into consideration having Apple work on tablet PCs. A lot of people have noted the product similarities to Apple's previous touch-screen portable device, the Newton MessagePad. Like the Newton, the iPhone is nearly all screens. Its form factor is credited to Apple's head of design, Jonathan Ive. I am going to be discussing this product complete lineage, the original iPhone, the iPhone 3G and the latest iPhone 3GS. The original iPhone was launched in the U.S., on June 29 2007 and later in Canada and other European countries. This product has seen a phenomenal success in the smart phones market. It is concluded that iPhone is one of Apple’s success stories, and this earned it recognition by Time magazine, naming it “The Invention of the Year” in 2007. 1.0.0 Product
The first market mix element I am going to look at is Product, which is defined as; anything that can be presented to a marketplace for attention, attainment, usage or consumption that may gratify a need or want. Product decisions are normally based on the variety, quality, design, features, brand name, functionality, Packaging, and Support, and Services. These product characteristics can be maneuvered depending on what the objective market wishes. Also, consumers are always looking for fresh and better qualities; which explains why marketers should constantly advance existing products, make new ones, and cease making old ones that aren’t needed or wanted anymore by the consumers.
The Apple product iPhone has a variety of models that are sold internationally. So, briefly phone’s models are: i) iPhone Original
ii) iPhone 3G
iii) iPhone 3GS
1.1.1 iPhone Original
The iPhone Original, introduced in mid-2007, fascinated its fans and was deemed a success just from its launch...
References: 1. http://www.scribd.com/doc/22784449/Business-Modules-Notes
8. Kundi, J (2008) Marketing mix at Sony Corporation
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