Friday, July 26, 2019
Integrated Marketing Strategy Essay Example | Topics and Well Written Essays - 3500 words
Integrated Marketing Strategy - Essay Example Finally in the conclusion we will take a look at the suggested strategy that Apple should take to overcome its deficiency. Main Body Here we will take a look at all the Marketing Mix of Apple iPad and consequently whether the strategies followed by Apple with respect to the four Ps are effective or not. Price Apple has always used a marketing strategy where it wants their products to have a mass appeal. It wants to gather the business customers and the entrainment customers both for their product. Price is perhaps the most important factor among the four Ps of marketing. It is important form the point of view of revenue which the company earns. We need to understand that as a product moves along its product life cycle the pricing strategy adopted by the company usually changes. Of the many strategies which a company can adopt, Ã¢â¬Å"price skimmingÃ¢â¬ is one of them. Here the initial price of the product is set high to targeted creamy segment of the market to skim revenues from t he market layer-by-layer. Apple gas used this strategy of pricing for its iPad product. The process of Price skimming involves charging relatively high price for the product for a short period of time when a new, innovative product or new improved version of it is launched in the market. The main objective of the price skimming strategy is to Ã¢â¬Å"skimÃ¢â¬ off the customers who are willing to pay more for owning a product sooner than the others (Huimin, and Hernandez, 2011, p. 390). Later when the demand falls a little then the prices are lowered and the late adopters then accept the product. Figure 1: Product Life cycle. Generic Graphic The success of this pricing strategy is dependent on the inelasticity of demand for the product by the market segment or by the market as a whole. Such... This report stresses that due to brand loyalty which Apple had acquired over the years, the company has been able to take advantage of the market opportunities and adapt to the environmental threats. Apple is successful on two of the marketing mix i.e. price, product. Apple still has to work on its other two marketing mix which are promotion and distribution. This paper makes a conclusion that people are more interested in things which really matters to them. This means that Apple should target the audiences based on their specific needs. Apple shouldnÃ¢â¬â¢t create a one-size fits all app. It is just filled with loads of irrelevant content. Instead Apple should plan to segment on the basis of their needs, interest and wants. Apple invests in the right user experience. It is of no use to create fantastic content, if the users have bad application experience. The author of the paper talks that With the launch of iPad on 2010, the company made use of good use of its core competency i.e. innovation. They have been able to turn ordinary into something beautiful. PC fans wanted something which is as powerful as a PC but portable. Apple understood the need and created iPad with new features to meet their increasing demand. They can offer accessories along with iPad like adapters, chargers, cables, cases etc. Apple have made iPad a household n ame so that they everyone knows about the product. On an overall basis Apple has achieved a successful integrated marketing strategy with still rooms for improvement as discussed above.