Market Segmentation and the Price of the Brand - Essay Example

The price of the brand is as per my expectations. At the time of the launch, it's high but later on, it starts dipping. I am a complete Apple fanatic so I don’t mind spending this money on the brand. Whatever the price is, I am ready to pay.
Qs 4: What are the sources of information of the brand?
Ans: Well, Apple is superb with its marketing. I don’t have to invest in extra effort to find out about it. I rely on websites, forum discussions, peer reviews, sometimes word of mouth and tv. Everyone knows well in advance about an upcoming Apple product.
Qs 5: Does the brand cater to all your needs?
Ans: Yes the brand meets more than 80 percent of my needs. It is the most that I can ask for in a smartphone. The sound quality is good, the connectivity is good, the apps are good, there is always room to explore more and the touch is just perfect. However, I would have preferred a better quality camera.
Going by the interview, the interviewee is extremely brand loyal to Apple more than the iPhone. He does not feel like shifting to any brand. He has been completely taken over by Apple. The brand equity of Apple in the smartphone market is very strong. It pioneered the concept of touch phones and is still ruling the roost in terms of market share. Where Apple is concerned, it is important to look into its product strategy to figure out its market segmentations. They don’t just build a product with every possible feature in the world. They target specific user experiences and then the product is built. So Apple has segmented itself according to the user experiences and their demands vis a vis of its customers. It developed its brand equity over time by building on the product. consider the evolution of iPod shuffles to iPod nano. Then they went to tweak the iPod Touch into an iPhone. Each of these product evolutions was successful and spoke volumes about what the company thought of its customers.