The leading innovative company: Apple Inc.

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Apple Inc. is a world leader in the design and distribution of consumer electronics, applications, and computers. It currently has over 350 locations around the globe. At the end of the fiscal year in 2015, the company had about USD 30 billion in worldwide revenues. Its devices, which include the iPod, iPad, iPhone, and Macintosh, are primarily regarded as a source of competitive advantage. This company's popularity is closely linked to its marketing campaigns and strong brand recognition. Apple Incorporation has used a variety of marketing methods since its introduction in 1976. Notably, they have continually been adopting new strategies as a result of the changes in the technology industry.

Fundamentally, in the company’s formation stages, Jobs and the team used the word-of-mouth form of marketing to create awareness of their products. Notably, they could identify a potential client and then book appointments to pitch their services and items (Challagalla, Murtha, & Jaworski, 2014). As the industry continued to grow, the company adopted a new strategy of continuously producing new products. This way, they guaranteed their existing and potential clients consistency concerning the product portfolio. In this move, Apple Inc. expanded its products range which rendered it a successful innovative multinational technology company. For example, the introduction of iPod and app store acted as a promotional tool for digital music.

Apart from that, product strategy became the core marketing strategy of Apple. In fact, it is the competitive advantage of the Apple Inc. coupled with flagship products that include iTunes, and iPads. One of the primary reasons why these items have become successful is the fact they are user-friendly and easy to easy to use compared to those of competitors such as Microsoft. Currently, the company has a marketing strategy that focuses on three fundamental pillars, segmentation, targeting, and brand positioning (Newman, 2014). In this regard, Apple Inc. has three major customer segments although it capitalizes on the lifestyles group. Evidently, most of the company’s products are premium brands. With regards to targeting, Apple’s marketing strategy has three primary target groups. First, people who are passionate about music are mainly targeted through the iPods and iTunes. The second target customers are professionals and teenagers who are the primary consumers of products such as iPhone and MacBook (Menguc, Auh, & Yannopoulos, 2014). Finally, Apple Inc. targets the crowd which uses other goods and services such as Apple Television iWatch, and the play store.

Notably, since Apple Inc. is the leading innovative company that has the most positioning consideration as its marketing strategy. As a result of this, the company’s products are renowned globally. When customers’ talk of smartphones or computers, both commercial and personal, Apple is the brand that comes to mind in many times (Challagalla, Murtha, & Jaworski, 2014). Again, the company desires to design the best products to improve their client’s satisfaction. In fact, it is a pacesetter that defines the future of mobile phones and computing devices. Apple Inc.’s tagline, Think Differently, is one its strongest features of its marketing strategies. Interestingly, Apple employs a simplistic approach to its marketing which is more efficient that other companies that use flashy adverts. It simplifies the decision-making process by presenting what clients need to know while at the same time leaving details that are not necessary (Newman, 2014). Again, their adverts are short as they feature few products and do not mention the price. In this regard, each advert aims at delivering one point at a time.

In summary, Apple Inc. is the leading company in the Tech industry. It provides a broad range of consumer products and services that resonate well with many customers. The success of the company is enshrined in its marketing strategies that the management has adopted since it became operational. In the early establishment years, the main method of creating product awareness was through word of mouth. However, with changes and development in the field, new and more advanced strategies have been used. Currently, Apple uses segmentation, targeting, and positioning as the primary strategies. Interestingly, the simplistic approach is effective as it strives to deliver one point at a time.

References

Challagalla, G., Murtha, B. R., & Jaworski, B. (2014). Marketing doctrine: A principles-based approach to guiding marketing decision making in firms. Journal of Marketing, 78(4), 4-20. https://doi.org/10.1509/jm.12.0314

Menguc, B., Auh, S., & Yannopoulos, P. (2014). Customer and supplier involvement in design: The moderating role of incremental and radical innovation capability. Journal of Product Innovation Management, 31(2), 313-328. https://doi.org/10.1111/jpim.12097

Newman, N. (2014). Apple iBeacon technology briefing. Journal of Direct, Data and Digital Marketing Practice, 15(3), 222-225. https://doi.org/10.1057/dddmp.2014.7

December 28, 2022
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Corporations Technology

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