Marketing is a process of exchanging and managing relationship between customers so that their needs and requirements can be satisfied. Present assignment is based on the product AIRPODS2 that was developed by Apple in the year 2016. Targeted market for this product is United Kingdom and targeted customers will be Youngster age between 14 – 19 year old.
Product/ Service Description
On March 2017, Apple announced to launch a new product named Airpods2 which can a biggest hits. With the help of this product an individual can listen to music, make a call and operate other audio programming without even touching the iPhone (Goyal and et. al., 2015). This includes various features which is making the product unique in nature.
Apple brand it popular all over the world and most of the people love to buy phones of this company because of its brand value. In order to complete this report, targeted country will be United Kingdom and it has been chosen because of increased customer base as compared to any other country. According to the recent times people are moving more towards brand because of maintaining status in front of other individuals. In terms of competitors as such Apple doesn't have any competitor in United Kingdom because they are itself a unique product. But Samsung can be considered as a major rival firm because of its large customer base.
Segmentation, targeting and Positioning
- Segmentation: Market area is wide so it is is crucial that company after analysing the market environment do proper segmentation so that effective services and facilities can be provided to targeted customers (Goff and et. al., 2014). In terms of Apple, they have done segmentation by considering demographic aspects such as age, income, etc.,
- Targeting: This is done after making proper segmentation, like for this assessment targeted customers were from the age group of 14 – 19 years. This age group was targeted in order to know about the view points of these youngsters towards this innovation. Nowadays people want their product to be compact but with lots of features.
- Positioning: This is determine as factor in which one can know about the standard of the company in front of its customers. For instance: after hearing Apple brand, one can determine it is a brand which is one of the leading company across the world and provides excellent feature products to its customers. Therefore, it can be said that in relation with Apple they have a good positioning in front of its customers (Stocker, 2014).
- Product: Apple is very famous for innovative products through which life can be more easier. Company provides a variety of products to its customers. Such as Mac, Iphone, Ipod, Apple Watch etc., AIRPOD2 is a new product that was launched by the company in the year 2016 and gained much recognition in the market area.
- Pricing Strategy: As Apple is a premium brand so they doesn't make products for all sections of the society. Therefore, their pricing strategy depends upon the new and innovative features they have added.
- Promotional Strategy: Apple Inc., in their promotional strategy adopts aggressive advertisement and for this they are using different channels and mediums like TV, print media, online ads etc.,
- Place: In United Kingdom products of Apple i.e. AIRPODS are available in stores and customers can also purchase these goods through online and other distribution channels (Heyward and Gibson, 2014).
From the above report it has been concluded that airpod2 is one of the unique and innovative products which is enabling customers in doing their activities with out even touching the mobile phones. Targeted customers are using this product because of the nature of trying new and innovative products.