Introduction
Marketing mix is an important concept for the modern business world. It consists of the four elements describing the major aspects of a company’s work: product, price, place, and promotion (Kotler & Keller, 2021). This model helps to analyze the work of a certain firm and enhance its understanding by investigating the areas outlined above. At the same time, using the marketing mix, it is possible to determine strong and weak aspects of the organization and offer recommendations. The following paper is devoted to analyzing Apple’s work by using the discussed concept.
Marketing Mix
In general, Apple’s marketing mix can be presented by using the following figure:
Product
Apple corporation focuses on selling a limited number of products. These include Mac, iPhone, iPad, Apple TV, Apple Watch, and Air pods. However, the lack of diversity in offerings does not limit the company’s opportunities for further evolution. The brand emphasizes the outstanding quality of every product, its unique features and options, and its competitive advantage over other similar offerings in the market (Lan, 2021). As a result, the products from the list are recognized and appreciated by the audience globally, which helps Apple to preserve its leading position in the segment.
Promotion
Apple focuses on using the most effective promotion tools and channels. Its leading product, iPhone, is advertised using social media, print sources, billboards, the Internet, and television. The company focuses on visual appeal and experimental marketing methods (Lan, 2021). Moreover, Apple designs its advertising campaigns considering the demands of the target audience, which makes them more powerful and helps to preserve the stable level of interest in offered products. As a result, the brand is considered an essential aspect of modern culture.
Price
Apple uses a premium pricing strategy to estimate costs for its products. It is explained by the superiority of devices created and distributed by the corporation, their innovativeness, and the presence of advanced technologies (Lan, 2021). Moreover, Apple is viewed as a game changer in the industry, which offers solutions copied by others. It means that the products’ unique features justify premium pricing. At the same time, the brand adapts prices to some regional peculiarities to ensure it remains available to local clients.
Place
Apple uses several sales channels allowing the company to reach its target audience. First, it has numerous retail stores in different regions globally. The choice of the place for an Apple store is linked to the demand for the product and the number of potential clients (Lan, 2021). It ensures a high level of sales. Moreover, the brand has an official online store meaning clients can buy products there. Finally, the brand cooperates with official retailers authorized to sell its products and services.
Social Media Marketing
Apple does not use Facebook and Twitter actively as part of its social media marketing. The company has its accounts, but it does not post often. It helps to avoid an increased number of negative comments (Hessler, 2018). These social media can spark interest in planned events (Hessler, 2018). At the same time, the brand is more active on Instagram as it allows attracting millions of users by posting photos and videos. The given strategy helps to advertise the leading products and inform individuals about them.
Conclusion
Altogether, marketing mix analysis shows that Apple effectively uses various approaches to managing its products, price, place, and promotion activities. It helps to preserve the competitive advantage and remain popular among clients. However, it is possible to diversify the pricing strategy to make devices affordable to a broader audience. It will help to expand the current offering and ensure new clients from other social groups will emerge and generate additional revenue.
References
Hessler, N. (2018). Apple’s totally bizarre social media strategy that makes perfect sense. Medium. Web.
Kotler, P., & Keller, K. (2021). Marketing management (16th ed.). Pearson.
Lan, B. (2021). Analysis of Apple’s marketing strategy. Proceedings of the 2021 6th International Conference on Social Sciences and Economic Development.