The competition in today’s industrial world is very intense and every company is spending a lot of money on designing and marketing their products and services. In such a highly competitive world it is very essential to design and market your products keeping in mind the target customers and markets. A product which is designed for the developed countries might not work in the third world countries and vice versa. So the companies, prior to designing their products and services must be aware of their target customers and markets. Once the designing and the production phases are over then comes the very important and the deciding phase which is the marketing phase. It is very essential for a company to have a marketing strategy and a marketing plan to implement the strategy for a product or a service to be a commercial success.
The following is the marketing strategy for a new product that Apple. Inc is going to launch. The product is a mobile device named iPhone-S. Apple has always aimed at producing the best devices not giving too much thought on the cost factor. All its target customers were those who were looking for the best products and not worried too much about the price. It was result of the niche strategy that Apple had adopted. But with iPhone-S, Apple is now looking to target that section of the market which it has ignored for a very long time, the middle class. Following is the marketing strategy for Apple’s new mobile, the iPhone-S.
There are various definitions for marketing strategies. Kotler (1984) defines ‘marketing strategy as a marketing logic by which a business unit achieves its marketing objectives’. Marketing strategy is also defined as a process by which an organization translates its business objective and business strategy into market activity (Fifield, 1998). Hence, marketing strategy is a way by which an organization goes by the process of marketing and promoting itself and its products or
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