With an online survey data can be collected instantaneously and once completed the system can generate a customized coupon for the precipitant. Marketing Research Tools: Primary market data methodology Primary research is data collected/gathered firsthand by a research team after interacting with the sample population. Primary research data is often gathered thr... ... middle of paper ... ...earch tools such as surveys, observations, focus groups, online surveys, and published secondary data are all important research tools for Apple because they offer variety and reliability. The flexibility that these research tools offer will allow Apple Inc. to develop a market strategy that not only fits the expectations of the target consumer, but also creates demand. Works Cited Aaker, D., Kumar, V., & Day, G. (2007).
With the rise of the world’s most valuable brand ‘Apple’, it is becoming essential into understanding how it reached this number one position. As a consumer, it is important to recognise that the strategies implemented by Apple, have been used as a powerful marketing tool for several reasons (Summers, J., Gardiner, M., Lamb, W. C., Hair, F. J. & McDaniel, C., 2005). One of the reasons includes marketers and managers being able to define customer wants and needs more precisely (Summers et al. 2005).
Introduction In today’s competitive economy, marketing research is vital for a growing organization. So much so that having thoroughly gathered market information should be a prerequisite for any startup business. Market research helps a business excel by providing help with factors such as advertising, marketing, pricing, market trends, customers, competition among others. Effective market research can be so useful that a company can psychologically condition their customers to believe that they are in need of the product they are selling even if they can’t even afford it. One perfect example of exemplary marketing research and strategies would be a little company known as Apple Inc. Today’s research will demonstrate the importance of marketing research as well as the different methods used to accomplish this research by using Apple Inc., one of the world’s leader in technology and marketing genius as an example.
Apple differentiates itself several ways. First, through the advanced products and technology that the brand offers. The company’s innovative products and ideas provides the consumer with a value proposition. For example, when the company developed the iPod and iPhone it thought ahead in creating apps and the iTunes music store to go along with the products. Furthermore, the company has established itself as a company that stands behind its products.
(Erica Ogg, 2010) With this product, Apple will earn a strong competitive advantage through Personnel Differentiation by helping disabled children and medical companies to help people. Positioning Apple believes in innovation and focused on delivering differentiated products to its customers. With innovation and technology, it is able to produce advanced products. With the new technological advancement, company is able to focus on customization of products, thus creating differentiation. (Michael Porter,
Therefore, brand is a signifying of the company. However, a company must have good brand management to achieve the longevity of the company brand. It is because good brand management can lead the company to become a strong brand and it will improve the customer relationship through the brand management process which control everything about the brand does and says also (Temporal, 2010). Therefore, brand management plays an important role which will influence the longevity of the company and the brand name. Nowadays, many companies using the re-branding strategy of corporate marketing and build strong corporate brand to increase their competitive advantage between other companies such as Google, Mazda, LG, Zara and more (Punjaisri & Wilson, 2007; Temporal, 2010).
The company seeks methods that will recover market share. The implementation is an essential part of the strategic plan and its main concern is how to diversify product offerings. In addition, retain customer loyalty and be a leader in the mobile marketplace. Moorman (2012), “ Apple has used these principles to become the world’s most valuable company (measured by market capitalization) and one of world’s most valuable brands” (para.6). The program directs the following areas of concern: short-term goals, specific functional tactics, outsource nonessential functions, and plan an effective reward.
Apple clients talk about what is new within the Apple company. This motivates others to buy Apple products. The company tries to meet all of the needs of their customers. There are many unmet needs the the company is still working towards. The segmentation throughout the company deals with price segmentation.
New Product Idea Generation: Apple has been able to perfect the chain of activities in innovation. Apple begins with new ideas of product design, designs the product through its own resources and funding, manufactures the product, and finally markets it wholeheartedly. Apple has an invent-and-reinvent mind... ... middle of paper ... ... Apple believes in wanting to keep a special place in the customer’s heart. The strong relationship between the company and its customers is credited to the company’s customer service and the nature of products which fulfills the need of today’s stylish people. Apple created a superior rapport with their customer base by delivering technically superior products (iPods vs. other MP3 players, Macs vs. PCs, etc.
Other companies should follow in Apple’s footsteps to be a successful and admired company (Dalrymple). Apple products encourage engagement, innovation, and creativity. The company’s leaders understand the value of research and development and customer usability. Apple knows its products and its target audience (target market), which is a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise. It continues to invest in marketing that identifies potential and current customers and communities (Ramball).