You are essentially going to analyze the current marketing strategy and implemen

Question

You are essentially going to analyze the current marketing strategy and implementation for a product/service and make recommendations for how it should be changed (unless you think it is perfect already, which is highly unlikely).

Choose a product or service you would like to analyze. For small companies, you may not be able to distinguish the product from the company.

The first part of the paper should provide a brief background of the company and a description of the product/service and its major competition.

The second part of the paper is descriptive. I would like you to describe the product’s current marketing strategy (objectives, target segment(s), value proposition) and implementation (marketing mix).

The third part of the paper is diagnostic. I would like you to evaluate the product’s current marketing strategy and implementation. Use any criteria you feel are appropriate, but at least one should be the “consistency” of the strategy/marketing mix.

The fourth part of the paper is prescriptive. Based on your evaluation, I would like you to make recommendations for “fixing” the problems you found.

Explanation / Answer

Answer:-

Marketing Strategy :

The topic of discussion will be mostly about iPhone and the company of interest is Apple. The detailed explanation of various parts are as follows,

FIRST PART -

We will discuss about 'Apple Inc'. It is a technology company and its product portfolio include iPhone, iPad, iWatches, iTunes, MacBook, iPod, etc. It is a very famous brand in smartphone segment and holds 2nd position in world in terms of marketshare (14%) for iPhones. The latest arsenal of iPhones include models such as iPhone SE, 8 and X.

Its major rival's are Samsung (Leader in smarphone sector with 22% marketshare) and Huawei (third largest seller with 11.2% market share)

SECOND PART -

Apple doesn't have an exclusive marketing department and donot have an separate marketing spend in its balance sheet.

The major objective is to deliver a very high quality product to end users. It promotes value in products than giving offers to customers. Some of the target segments are -

iPhone SE - Mid-range
iPhone 8 and X - High end

All the advertistments of Apple are through Network Providers (T-mobile, AT&T, etc). Apple has only dictated strict rules of advertising standards to all the networs that engage in advertistment activities to sell iPhone products.

No online or offline promotional activities have been engaged by Apple Inc till now. Apple clearly restricts itself to delivering a highly valuable product with high quality.

iPhone's are always manufactured at less quantities to increase the demand and a mental desire is created in people's mind to own the device. Word of Mouth id the prime weapon used as a marketing strategy.

THIRD PART -

The current marketing strategy followed by Apple should be changed for it to stay competent in market. This is clearly visible by the slumpy growth in Year-on-Year sales. Like other brands such as Samsung and Huawei strong advertising activities has to be performed to stay competent in market.

Search Engine Optimization, facebook, twitter, instagram and involvement in online communities should be setup. Regular feedback from user's for any desired changes in products should be addressed.

Demand based production model should be implemented rather than current production strategy to avoid losing sales to rivals.

PART FOUR -

Some of the recommendations are to

Setup Advertising team inside organization
Improve product availability in stores and omni-channel sales
Change the production strategy to best utilize demand for a particular product and read the complete benefit of sales
Get regular feedbacks on products to improve customer experience

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