Marketing

Marketing Plan Company profile Two business associates Steve Jobs and Steve Wozniak. The Company entered into the computing business that was remained unexploited formed Apple Corporation in April 1976. They were involved in innovating new software and hardware, but the company was struggling. In 2001, the company had a breakthrough after it come up with the iPod that was a unique music player. The company ‘ fortune has continued to grow over the years. The growth is a result of efficient marketing strategies being employed by the company employee (El-Hadidy., et al., 2014).
Below is a description of the financial information, refer to excel file attached
The financial statements of Apple indicate that the revenues of the company have continued to grow over the years. The company’s sales revenue had reached its peak in the year 2012 before the sales started declining. In the year 2013, the sales started increasing again. The sales clearly show product life cycle which involves four distinctive stages. The stages are introduction, growth, maturity, and then decline. Apple may have adopted a reformulation strategy to increase its sales potential and profitability (Niemann, 2009).
The Company focuses on satisfying its customers rather than expanding its territory to new markets and promotes continuous improvement of quality product. Apple uses a strategy of creating anxiety amongst customers like it did for iPhone. The company announces almost every year the launch of a new series of the smartphone. The anticipation is not only felt in the headquarters, the US, but also in other nations such as the U. K. The company uses a similar model into in Europe. It also signed an agreement with a telecommunication company in France to be its business partner in the country. The policy of employing strategic alliance has proved effective because it has opened opportunities for the company (Mickalowski, Mickelson&Keltgen, 2014).
The company analyzes the political, economic, socio-cultural, and technological environment in the target market. These set of forces are mainly outside the control and influence of the business and have the potential of positively or negatively affect Apple’s operation. In analyzing the political environment, an issue such as taxation is evaluated because it affects the expected revenues and setting prices. The economic environment is carefully scrutinized because it restricts business investment and growth. Socio-cultural environment affects the taste and marketability of the iPhone. The technological environment is very dynamic, and internet accessibility has increased and customers have many expectations. The company continues to meet their expectations by coming up with new features (El-Hadidy., et al., 2014).
Competition in the telephone industry is very stiff with players such as Motorola, Nokia, and Sony being the main threats. The company strives to differentiate its Smartphone from those of its competitors by innovating new iPhone features. The phone is also advertised in newspapers a strategy that has helped the company outdo its competitors (El-Hadidy., et al., 2014).
The company strength lies in producing innovative products. The iPhone can also be used to download free music from iTunes that are a product of the without having any problems. It has enhanced security features that are simple to use. Features like these have improved the quality of the iPhone to meet customer’s specification. Apple also conducts massive campaigns to create customer awareness of the iPhone, and it is sold at affordable rates (El-Hadidy., et al., 2014).
Opportunities exist for the company because customers are increasingly purchasing smartphones. Since the company is a leader in the industry, it is well placed to tap into the available opportunities. However, and the company is keen on threats posed by competitors. The success of Apple’s success of iPhone can be attributed to its unique marketing strategy. Their strategy is to meet the demand of its loyal customer by producing quality products. Apple has managed to retain its leadership in the market by also striking strategic alliances with other partners (Mickalowski, Mickelson&Keltgen, 2014).
Reference
Company Financials (2014). Annual Financials for Apple Inc.[Retrieved 28. 10. 2014] http://www. marketwatch. com/investing/stock/aapl/financials
El-Hadidy., et al, (2014). Apple iPhone Marketing Plan.[Retrieved 23. 10. 2014]. http://www. academia. edu/6182099/Janecek_Apple_i_Phone_Marketing_Plan
Investing, (2014). APPL Company Financials. [Retrieved 28. 10. 2014].
http://www. nasdaq. com/symbol/aapl/financials? query= income-statement
Mickalowski, K. Mickelson, M. &Keltgen, J (2014). Apple’s iPhone Launch: A Case Study in Effective Marketing. [Retrieved 23. 10. 2014]. Niemann, J. (2009). Design of sustainable product life cycles. Berlin: Springer.
.