Apple I-phone Marketing Mix

Apple I-phone Marketing Mix:

All of you must be familiar with the iPhone and its popularity. It is considered to be the most advanced and innovative smartphone and comes loaded with features meant for both personal and professional use. In the first quarter of 2017, Apple’s I-phone has shown some great performance and sold more than 74 billion pieces worldwide.  I-phone 7 and I-phone 7 Plus were received well globally. However, several articles also noted that the new model was not a major update over the I-phone 6s.

Still, like the previous models,  iPhone again created excitement and remained a winner in terms of sales and revenue.  This article analyzes the marketing mix of Apple’s iPhone evaluating the four P’s – product, place, price, and promotion. Each new model of the iPhone is promoted with much pomp and show and gets its due share of publicity pre and post-release.

Apple’s target market is mainly the young generation. Its products carry a broad appeal and not just the youth but also appeal to teenagers and middle-aged customers. iPhone is the core product of Apple and appeals to a broad customer segment that includes young male and female customers in the age group 16-36 mainly. iPhone customers are mainly affluent, young, modern, and tech-savvy customers. However, the smartphone also appeals to professionals including engineers, artists, and a broader group of customers in other professions.

Product:

I-phone is among the most popular products from the house of Apple. One of the best selling smartphones globally, the product despite its premium price tag is loved by millions. Below is a short analysis of the several models of iPhone released by Apple.

iPhone:  A powerful 4-inch phone with retina display and 12 MP camera.

iPhone 6s: Smartphone with 3D touch, touch id, 12 MP camera, and iOS 10, 4.7-inch display.

iPhone 6s plus: 5.5 inch display.

iPhone 7: “all-new 12MP camera; splash, water, and dust resistance; an A10 Fusion chip; a new Retina HD display with wide color; stereo speakers; and iOS 10” (Apple).

iPhone 7 plus: all-new 12MP wide-angle and telephoto cameras; splash, water, and dust resistance; an A10 Fusion chip; a new Retina HD display with wide color; stereo speakers; and iOS 10.

Placement:

Apple products sell through several channels including both online and offline channels. There are diverse sales channels including its own retail stores and website. Apart from that other e-retail sites also sell Apple products including I-phones. However, the best and easiest channel to buy an iPhone is Apple’s website. One can easily make an account and purchase Apple products from the site. Apple’s distributors can be found globally who are known as resellers. The local retailers across the globe also sell I-phones. So, the main channels through which I-phone is available are as follows:

• Apple’s website
• E-retail sites like Amazon and E-bay.
• Apple’s distributors or corporate resellers
• Apple’s brand stores
• Local electronic retailers

Price:

Apple uses the premium pricing strategy for its products. It means Apple’s products are priced above the competitors’ products. It is true about all the products from the house of Apple. It achieves two purposes. First of all, Apple does so to retain its premium image and second, it is able to earn higher margins on its products.  Pricing the products low can dilute the brand’s image of a premium and innovative brand. However, since Apple makes large investments into R&D and skilled human resources, the pricing strategy is justified.  Apart from that Apple’s prices are also backed by great quality. The new Apple I-phone 7 is priced starting from $649 and the Apple Iphone 7 plus at $769.

Promotion:

Apple is a celebrity, the most valuable brand and that gives it an edge over its competitors. Most of its products are promoted heavily in the media and become news even before they are released. Discussions are on about the upcoming model of I-phone even before it has been launched. However, despite being a heavily publicized brand, Apple leaves no stone unturned in terms of marketing. Its advertising strategy is known for being innovative. The brand instead of using the regular techniques uses some less known techniques which are highly innovative. The use of imagination gives the Apple ads an edge. Its television ads showcase the videos made using the I-phone by its customers. These ads apart from highlighting the unique features of the phone are made to captivate.

Sources:

https://www.apple.com/shop/buy-iphone/iphone-7