Marketing is a tool that is constantly utilized in business. This tool allows customers to familiarize themselves with the products they are purchasing or are interested in purchasing. Companies spend billions of dollars annually marketing their products to hopefully attract consumers. Apple often markets their company as the ones who “Think Different”, but surprisingly Apple’s spending amount on marketing is fairly low compared to its amount of sales and the size of the company. Apple is able to keep the cost low all thanks to specialized marketing strategies.
Marketing has the ability to have your product praised upon or crushed by consumers, and what determines that is a marketing plan. The objectives of marketing plans are determined
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One must first decide on a place where to introduce the product, and then, according to the location, the price of the product should fall in place. In many situations the price of the product is ready to satisfy the bulk of people, even if the profits are more depressed than the norm. The reason for risking the amount of profit being built is to hopefully gain long term customers, which would in turn recommend new customers to the merchandise. Many people believe the goal to be attracting customers, but in truth the goal is to build long term commitment with customers. The last push a consumer needs to purchase a new product is a promotion. In today’s economy, people are trying to save as much money as they can, and a promotion is what usually attracts money savers the most.
These “4Ps” tend to rarely apply to the Apple Company. Even though Apple is a California (USA) based company, there are still nine states plus the District of Columbia without a single Apple store (Wordpress,2010). Pricing wise, Apple products are on average two times more expensive than the other leading devices. Another key point in Apple’s marketing strategies is, they never offer any promotions, due to the following reason. Apple believes in value, not pricing therefore they see no need to lower their prices to compete with other leading companies. In turn, Apple would