Contemporary issues in marketing: Case of Apple Inc - Essay Example

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The research firstly gives an understanding of what marketing actually is and what benefits effective marketing can provide to the companies. Then the paper discusses some key marketing issues related to a renowned multinational company Apple Inc…
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Contemporary issues in marketing: Case of Apple Inc
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"Contemporary issues in marketing: Case of Apple Inc"

Download file to see previous pages The intention of this study is Apple Inc. as one of the famous global companies which use effective marketing strategies to promote its products. Apple Inc. develops its marketing communication strategy after analyzing the internal and external environments of the company. Apple Inc. also gives importance to ethical marketing practices and better customer service which help the company create awareness, increases product value, increases product charm, and achieve competitive advantage in the market. Implementing an effective marketing communication plan and taking steps to monitor the performance of the plan are very important for any manufacturing company. Marketing mix is one of the main tools used by the managers of Apple Inc. to monitor and control the working of the marketing communication plans. Marketing mix is one of the core components of a marketing communication plan. A marketing mix includes proper set of tools and guidelines which a company can use to market its products and services in the market. Managers make use of marketing mix to evaluate the success of the marketing plan of their products. The assessment or evaluation makes the managers know whether the marketing plan is appropriate for the product or it needs to be changed. McDaniel and Gates state, “The mix is the unique blend of product, price, promotion, and place (distribution) designed to reach a specific group of consumers.” Companies usually alter the mix components depending on the needs of the public and the market in which the product is placed. “Many firms find it necessary to modify the present marketing mix or develop a new one” (Ball et al. 2008, p. 475). In Apple Inc., the strategy regarding the components of marketing mix does not remain the same forever; rather they are and should be altered continuously depending on the circumstances. For high profile brands, such as, iPad and iPhone, Apple Inc. usually focuses more on the promotion component instead of price. Similarly, for a product which is placed in a market where there is much competition regarding the product, the company focuses more on price instead of promotion. Managers of Apple Inc. analyze their marketing mix frequently in accordance with the current status of their product in the market to make required changes in the marketing strategies. Papantoniou (1992, p. 127) states, “Ultimate purpose of the mix is to maintain and improve positions in the market”. Marketing mix is a powerful force that drives a company towards achievement of desired goals and objectives ...Download file to see next pagesRead More
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