Role of Place, Promotion, Product, Segmentation, Targeting, and Positioning - Case Study Example

Marketing Case Study Contents Role of Place 3 Role of Promotion 4 Role of Product 5 Role of Segmentation, Targeting and Positioning 6 Reference 8 Role of Place Importance of place in marketing mix or marketing is associated with identifying location of customers rather than referring to business location. Place is a critical factor within marketing mix and its deals with overall business strategies. This strategy can be associated with acquiring goods from a particular location and then transferring it to customer’s location. Demographic characteristics of customers are basically outlined in order to represent place factor of marketing mix. The main aim of this component is to determine location of customers. In global economy that is rapidly increasing customer’s location in Singapore would enable a firm to span into nearby different continents. The more common terminology for place is distribution in marketing. Its importance lies in the area that product needs to be delivered at right time to right place. This not only facilitates acquiring large customer base but is even concerned with retaining them for long-term. In overall context, place represents a set of activities which is undertaken by a firm so as to make products available to end customers. There are different channels adopted by Apple Inc., in order to reach out to target market. Place mix of the company comprises of wholesaling and retailing, warehousing, order processing, inventory management and transportation. Apple Inc. pays more attention to safely transferring its products from warehouses to retail outlets. The company has established corporate stores across the globe that serves as a medium to reach out to target audience. Apart from Apple’s corporate stores products are placed also in electronic stores like BestBuy. This electronic platform helps the firm to increase convenience level for customers. From assembly house of Apple Inc., products are distributed to its web stores, supermarket, CNF, distributors and middle man. Place factor is even concerned with appropriate inventory management since Apple products can only be delivered when sufficient stock is maintained by a firm. Role of Promotion Promotion plays a critical role in context of gaining attention of target group. This mechanism is implemented so as to ensure that right target audience has been reached. Different forms of media advertising are utilized to associate with large number of buyers and generate high sales margin. Promotion mainly focuses on attracting target customers and giving sufficient information to generate interest or motivate for purchasing decision. Various advertising methods are explored by marketers to promote product line and analyzing methods to reach to target group (Kotler and Keller, 2011). Desirable consumer demographic can only be reached by a firm when appropriate promotional tools are implemented. This marketing mix component takes into consideration wide array of factors such as gender, age, economic class and location. These data are basically collected in order to support marketers so that they are able to decide on whether investing resources or time in print and television advertising shall be effective or not. Promotion can be regarded as a mechanism to reach to target customers in a better way. It even holds importance in terms of retaining customer attention and gaining competitive advantage over other players. Innovative marketing campaigns are designed by Apple Inc., so as to convey brand message to end customers. The company invests lump sum amount in promotional measures since it is the one way through which company can reach out to target group. Print media can be treated as the most effective media for transmitting brand message to end users. Amongst electronic media, television is supposedly most favourable media of Apple Inc. In present scenario Internet is also incorporated by the company to promote their innovative product line. Sales promotion is an innovative measure adopted by the firm to attract large base of customers. This is done through exchange offers or modified payment plans. Other promotional tools utilized are direct marketing, personal selling, and point of purchase, event hosting and public relations. The reason behind using these measures is to set a market position and be known as the most famous brand. Role of Product Product along with price, place or promotion is a way to create customer value and is considered as a reason behind marketing effort. A greater chance of achieving success lies when product or service is of high quality and right type of features are encompassed to attract wide base of customers. Several components of products are taken into consideration while making this marketing mix element highly essential. Product function is the most important success factor. If products are not able to be well aligned with claimed functions then customers shall not re-buy those products. This kind of customer mentality cannot be changed efficiently with the support of competitive pricing or promotional measures. Marketability of products or services is affected to a great extent because of these factors. Sales volume is dependent on product performance in terms of exceeding or meeting expectations of customers. If the product features are well inclined towards customer expectations then there is a high probability of generating desirable profit margins. Placing of products at retail outlets is largely dependent on significant product features. Target group can only be reached when a firm is able to deliver essential features in the form of offered products. For instance Apple Inc. focuses on their product mix and this encompasses product form, product quality, product packaging, product style and guaranty or warranty. It can be stated that product quality and style are major areas of concern for the company. Colour, external appearance and size are innovative features designed by Apple Inc. Material quality makes the brand most innovative across the globe. The wide ranges of products that are offered by the firm are highly distinguishable in the market place. Apple Inc. also is aligned with maintaining product packaging since it drives high revenue margins. Role of Segmentation, Targeting and Positioning Market segmentation plays a key role during identifying customer group. Segmentation can be defined as a process of breaking down customer group into potential buyers. These buyers usually possess similar characteristics. Customers can be classified based on various segments such as gender, age, income group, etc. It is important for a company to analyze obtained demographic data in order to determine products being marketed are suitable for which customer group. A huge customer base is initially selected and then a particular segment is outlined whose demands are well aligned with product features. Selling is the major objective behind identifying a target market. Segmentation and marketing helps to achieve a series of objectives. They are avoiding intense competition when similar groups are targeted, developing profitable brands and new product offerings, remarketing older products or those securing low profit margins, determining early adopters, and focusing on sales or money effort to acquire most profitable customers. Marketing mechanism becomes simpler when a firm is able to appropriately segment customer market and target desirable one. On the other hand, marketing mix can only be successful when product features can be correlated well with target market. Positioning has its role in setting market position for a brand or company so that it can stand out of intense competition. This aspect helps to attract attention of target customers towards a brand or products or services. For instance all these factors play a significant role in context of Apple Inc. The broader market segment of Apple’s products is customers (male or female) possessing high income and desire to purchase branded products. This helps the company to identify a particular target segment since all might not have purchasing power. The target market for the firm is customers belonging to high and upper middle income group. Younger generation are mainly targeted by the company. Its product positioning is being most innovative brand offering quality and satisfaction to customers. Reference Kotler, P., and Keller, K., 2011. Marketing management. 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