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Marketing Mix Strategy Analysis of Apple iPod

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Introduction

´╗┐Marketing Mix Strategy Analysis of Apple iPod ________________ Contents Executive summary Introduction Apple Inc iPod Marketing Mix Marketing Segmentation Product Branding Price Place Promotion Conclusion References Executive summary IPod has been one of the most iconic products in consumer electronics by Apple Inc. From the year it was introduced in American Market, they are having a market share of 70 percent which is pretty high from its consumers. IPod virtually saved apple Inc. whose stock price crashed to 10$ from 30$ after dot com bubble burst. It paved way to the trust that Apple brand enjoys and has been carried to other apple products like iPhone and iPad. This report dwells into the marketing strategy of Apple iPod and tries to understand it. It also applies different product marketing frameworks to understand it fully. Introduction Music has become essence of our lives since our inception. It has started from the likes of Audio Tapes, CDs; DVD?s and now has become a way of life. Music has always been a partner in our leisure time and helped us to become our partner to relieve our stress. Music players used to be very bulky in start and after the introduction of Walkman?s, music industry was still full of opportunities for products. ...read more.

Middle

They don?t just stuff a product with multiple features so that it can be useful for every segment. They have built different offerings of iPod for different customers by thinking about different user experiences of different category of customers. They rolled multiple types of iPods like Nano, shuffle and touch for low, medium and high segment customers with different price points so that it can be easily affordable yet have the esteem of a premium product. They have been never confused in their product segmentation. It covers global markets and is present all across the globe. The have products which appeal to all segments based on income, age or any other classification(Fisher A, 2008).. Talking about their coverage strategy, they operate in all segments and have used DIFFRIENTIATED market coverage strategy by designing separate products like nano, shuffle and touch for different income group people. So, that they can cover the whole market, yet people try to move up the product chai due to their premium image. Apple iPod has positioned itself as a premium product which comes at a premium price. Although they have cheaper range available in market, but people usually want to move up in the product chain. Still their positioning is a premium player in the market and they target less price sensitive customers. ...read more.

Conclusion

Multiple designers had their hands on iPod and said that they were also overwhelmed by its designs. They promoted it by their ?Think Different ?campaign by using different channels like TV, Radio as well as outdoors. In 2002, they had U2 signature version and a pink iPod for Madonna version. They gave away iPods to Grammy performers. They started running TV ads with people singing U2 songs with iPod in hands which helped in adoption of iPod with music lovers. The intent of messages has been to promote iPod as a premium product yet necessary to any music lover. It has been executed in style by associating it to huge music personalities and at grand stages like Grammies to grab attention of their target audiences (ZDnet, 2010). Conclusion Apple IPod has been a revolution in itself. It not only defined portable music devices but has also defined music industry itself. It was the start of advent of digital music era which has now taken over the complete music industry. When we combine this with premium brand image of apple, iPod has become one of the most iconic product successes in the history of consumer electronics and paved the way for apple to become most valued and most admired companies of this world. By this report, we have tried to understand the importance of marketing mix analysis as well as try and apply the theoretical principle to Apple IPod and understand its marketing strategy. ...read more.

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