Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Singapore is ranked fourth as the highest smartphone penetration.
A brief introduction about the importance of marketing mix strategy has been presented which is followed by a brief description of iPhone 4S including its price and feature. The assessment of product strategy, pricing strategy and promotion strategy of iPhone 4S indicates that it is an innovative product and the prices are designed keeping in view the requirements of middle end consumers.
The promotional activities for iPhone 4S indicates that it is promoted through TV commercial ads and the marketing mix adjustment strategies has also been proposed which indicates that the prices for iPhone should be matched with other similar range of mobile phones. The promotional activities should include a wide range of promotional tools including public relations through offering discounts, coupon, additional add-ons etc.
Introduction The introduction of new products in the market is performed on every day basis but majority of them fails to create an impact in the market because of inappropriate marketing mix strategies for their product. An effective marketing mix strategy is highly essential in achieving success for the product.
The marketing mix strategy necessitates the need for development of effective product, pricing and promotion strategies for the product so that it can be able to create an impact on the target consumers and ultimately, a better overall success for the product can be achieved.
This indicates that an appropriate marketing mix strategy is crucial for the success of a newly launched product in the market.
The product developed by the company should have the potential to satisfy the needs of the customers, and its prices should be such that it leads to value for money to the consumer who buys it.
Further, in order to make the consumers aware of the product, it is essential to develop certain promotional plans for the product as well. In this report, an analysis of the product, pricing and promotion strategies for the product iPhone 4S will be performed with a clear assessment of its target market and the product features offered by the company.
In addition to this, the promotional tools that has been used in order to communicate the product to the market will also be assessed which will be followed by an assessment of its pricing strategy by the company.
Finally, the market mix adjustment strategy for iPhone 4S will be assessed and the entire findings about the product will be Iphone 5c price decision essay in the conclusion section of this report.
Product and Target Market Description As already specified, the product that has been selected for analysing its marketing mix strategies is iPhone 4S.
It is a product of Apple Inc which is a multinational company based in US. The company is known for development of innovative electronics equipment and iPhone is one such innovative mobile phone developed by Apple Inc. Company has started producing iPhone since and thereafter, it has launched various models of iPhone in the market.
As for instance, Apple iPhone 4S have important features including portable media player, 8 mega pixel video camera, web browsing capabilities, Internet client with email, 3G connectivity and wifi. The target market for a product implies the target consumers on which the product is being targeted.
The selection of an appropriate target market is essential so that it can be launched into the market with appropriate strategies that would lead to higher acceptance of the product by the targeted consumers.
With respect of iPhone 4S, the target audience of the company includes mid tier consumers, as the company aims at targeting a large volume of customers instead of few higher end consumers.
In order to ensure that the product is acceptable to wider customer database, it has made every possible attempt to keep the pricing of its iPhone 4S within the reach of middle class consumers Apple iPhone 4S pricing designed to widen its appeal, Apart from this, the target market for iPhone 4S also includes the customers of previous versions of iPhone who wish to upgrade their iPhone to iPhone 4S Smartphone wars: It is a mobile phone that serves the purpose of allowing communication to its users with others.
The marketing mix implication for mobile phone product is essential as the mobile phone companies are required to develop all the elements of marketing mix strategies such as product strategy, pricing strategy, promotion strategy etc.
The success of mobile phones depends upon the effectiveness with which it is being priced and launched in the market. This indicates a greater implication of marketing mix strategies for mobile phones industry Sandhusen, Positioning Strategy used for the Product: The positioning strategy for a product implies the creation of desirable and distinctive position in the minds of consumers so that a higher acceptability for the product can be achieved on the part of consumers Sengupta, As Apple Inc is known for the most innovative company in the electronics industry, it develops products that are highly innovative by nature.
As a result, the positioning of iPhone 4S is mostly done as the most innovative mobile phone that presents a wide range of features to its customers. The iPhone 4S also includes certain new features over its earlier version of iPhones such as retina display and company has highlighted all these additional features to create an image of iPhone 4S as the most innovative product.
Product Description on the basis of three levels of Product: The core product implies the basic function served by the product and in case of iPhone 4S, its basic function is to allow people to communicate with each other.
The tangible description implies the specific features and benefits of the product such as the quality, styling, brand name, design etc. Apple iPhone 4S is already having brand reputation of being the most innovative mobile phone and its design is also perfect as it is getting thinner and new features are also added on regular basis as the company launched new version of its iPhone.
Finally, thede augmented product indicates the add-ons that are extrinsic to the product and they have the potential to influence the buying decision of consumers Seaton and Bennett, In case of Apple iPhone 4S, its augmented features include its availability in instalments, better service centres from Apple in the form of i-stores etc.
Promotion Strategy The promotion of the product is highly essential so that the information about the new product can be brought into the knowledge of target audience. There are various promotional strategies that can be adopted in order to ensure that the most effective promotion of the product is being performed and the target customers are fully made aware of all the features associated with it Odugbemi, With respect to Apple Inc, it has also used a number of promotional tools in order to communicate the features of its product to market.
As for instance, the company has promoted its iPhone 4S through its own website by including detailed features offered in its iPhone 4S. Apart from this, Apple iPhone 4S is also promoted by way of TV commercials as well whereby company communicates the headline feature of its iPhone 4S-siri and also promoted about its siri in displaying musical notes to the users Morris, Sep 12, · Iphone Essay; Iphone Essay.
Words | 13 Pages. The iPhone 5c is the most valuable phone on the market today. It is more cost effective than its competitors, cosmetically pleasing, and has more advance features.
The first one is a skimming price decision and the second one is a penetration pricing . Iphone 5C price decision Essay example The fist factor that important in the pricing decision of iPhone 5C is by considering costs.
For instance, since Apple Inc. wants to maximize its profits through establishing new products, the price should be set at the point where marginal revenue equals to marginal cost. The perceptual map in the maturity stage for Apple iPhone 4S indicates that the quality of the phone would remain the same but there will be decline in the prices of iPhone 4S because of lower relevance for iPhone 4S, as the company is planning to launch iPhone 5 with most admirable features.
Iphone 5C price decision Essay example The fist factor that important in the pricing decision of iPhone 5C is by considering costs. For instance, since Apple Inc. wants to maximize its profits through establishing new products, the price should be set at the point where marginal revenue equals to marginal cost.
Essay Assignment Essay. A. Pages:2 Words This is just a sample. To get a unique essay. then this is an incentive for Donna to charge a lower price than the Iphone, whilst still charging a lower price than consumer’s willingness to pay for the IPhone. Iphone 5C price decision ; Critical Essay on Electricity Deregulation ; Tesco.
The iphone 3g was a success which was then followed with a sisiter version in may the Iphone 3gs which is said to be the upgraded version of the previous version and would make up all the area that the original failed lausannecongress2018.com main purpose of this paper is to conduct a market analysis of the apple iphone.