The Marketing mix is often called the 4Ps: The components PRODUCT PRICE TARGET MARKET PROMOTION PLACE
DEFINITION BY CHATURRAMALINGAMVIEW/STYLE “The Marketing mix is the combination of the product, its price, The methods to promote it and the ways to make the product available to the customer.”
The concept is simple. Think aboutanother common mix - a cake mix.All cakes contain eggs, milk, flour,and sugar. However, you can alterthe final cake by altering theamounts of mix elements containedin it. So for a sweet cake add moresugar!
It is the same with the marketing mix. “The offer you make to yourcustomer can be altered by varying the mix elements.”
Another way to think about theMarketing Mix is to use the image of an artists palette
The marketer mixes the primecolours (mix elements) in different quantities to deliver a particular final color. Every hand painted picture is original in some way, as is every marketing mix
About…… Apple Inc.Apple Inc. is an American multinational corporation that designsand sells consumer electronics, computer software, and personalcomputers. The companys best-known hardware products arethe Macintosh line of computers, the iPod, the iPhone, ipad.On September 12, 2012, Apple unveiled the iPhone 5, featuringan enlarged screen, more powerful processors, and running iOS6. The latter includes a new mapping application (replacingGoogle maps) that has attracted some criticism. It was madeavailable on September 21, 2012, but has already becomeApples biggest iPhone launch, with over 2 million pre-orderspushing back the delivery date to late October.
Qualities Of Apple Inc.•Lead, don’t follow•Aim to surprise•Be unreasonable•Innovate incessantly and pervasively•Sweat the details•Think like an engineer, feel like an artist• Stay foolish, Stay Hungry
Target Markets of Apple Inc.•Where graphic design, video and audio editing are indemand•Apple has offered free computers in classrooms.Their hope of creating future customers is apparent intheir firm ranking in the computer marketplace with aloyal client base.•Apple iPhone Target Market includes middle incomeindividuals searching for a better user experience.
Product: Provides primaryvalue to customer.Product decision involves decidingwhat goods or services should beoffered to customers .The product provides the primaryvalue to the customer.“The customer gets interested in thecompany primarily because of theproduct or service it is producing orproposes to produce”
Apple iPhone run on Apple createdoperating systems. iPhone 5 has• 4 inch retina display.• LTE wireless technology, A6 Chip.• Most popular camera.• Siri.• iOS 6.• Weight is only 112 gm.• Accidental damage protection.• Hardware repair coverage.
Price: Cost that a customer iswilling to bear for product“Price is the Cost that a customer iswilling to bear for product and theway it is made available to him.”if the is overpriced no one will buyit. The same is true for underpricing. If you under price a producttoo much, the customer will nottake the product seriously. This iswhy it is so important to price yourproduct correctly.
Pricing of the iPhone • Skimming pricing strategy • Premium pricing strategy •Apples iPhone pricing strategy includes the flexibility to lower the prices if consumer response dictates such action
Place: Available in right quantity, right time and place•Place involves decisions concerningdistribution channels to be used, thelocation of outlets. Methods oftransportation and inventory levels tobe held.•Distribution channels consist ofindependent intermediaries such asretailers, wholesalers & distributorsthrough which goods pass on theirway to customers
• Apple handles the task of placingiPhone in the market by offering thoseiPhone worldwide. This is accomplishedthrough online stores, retail stores,direct sales and third parties.•Apple divides its global market into foursegments. The three geographicalsegments are Americas, including Northand South America, Europe, includingthe Middle East and Africa and Japan.The fourth segment is retail.•As of July 2011, Apple has 364 retailstores in thirteen countries as well asthe online Apple store and iTunes store.
Promotion: Generate awareness and convey benefitsPersonal selling sales promotion,exhibition, sponsorship & publicrelations.By these means,The target audience is made awareof the existence of the product &the benefits that it confers tocustomers.
Promotional activities for Apple iPhone•Apple has a promotional strategythat focuses on the emotions. TheApple brand personality is aboutlifestyle; imagination; libertyregained; innovation; passion;hopes, dreams and aspirations; andpower-to-the-people throughtechnology•Apple focuses also on offering newfeatures and services to gaincustomer loyalty
•The Apple brand personality is also aboutsimplicity and the removal of complexityfrom peoples lives; people-driven productdesign; and about being a really humanisticcompany with a heartfelt connection withits customers.• Apple iPhone5 commercials are reallygood Physics Thumb Cheese• These advertisements released beforelaunching of iPhone 5 so as a result these commercials createdawareness and conveyed benefits to thecustomers.