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Brand Equity Model for the Apple iPod
1. Apple iPod Brand Equity Model By:Sagar MehtaISBE/SS/09-11R.No. 34
2. Quick Overview of the iPod Launched by Apple in 2001 Over 220 million iPods sold worldwide Best selling digital audio player in the world Models: Shuffle, Nano, Classic, Touch Plays MP3, AAC/M4A, Protected AAC, AIFF, WAV as well as some video formats
3. Knowledge Metrics Recognition: Apple iPod is the de facto standard in the digital audio player market Unaided recall: ‘MP3 player” brings iPod to mind Aided recall: Brand is established and the ‘apple’ symbol brings it to the forefront in the mind Top-of-mind recall: iPod is usually the first choice
5. Preference Metrics Familiarity: Extremely trusted & familiar brand Consideration: Always considered at least once Purchase: Price is often a consideration as cheaper options are available Usage & Loyalty: Existing users do NOT wish to part with their iPods
7. Financial Metrics Market share: Over 70% market share Price premium: Known to be a premium price product Revenue: Shrinking audio player market could translate into less revenue Growth Rate: Steady