27 Dec Develop a segmentation analysis of the company’s target market using the individual client (Apple). Address each variable of segmentation (geographic, demographic, behavioral, and psych
Create a 2- to 5-slide Microsoft® PowerPoint® presentation with speaker notes.
Develop a segmentation analysis of the company's target market using the individual client (Apple). Address each variable of segmentation (geographic, demographic, behavioral, and psychographic) that is significant in attracting the target market.
Provide specific examples of product attributes and benefits for each segmentation variable identified as relevant. Answer the following questions:
What is the target market for each company's product, service, and/or product line? Discuss the target market in terms of the segmentation variables.
What is the company's branding strategy? Provide examples of how the branding strategy relates to the identified target market.
Include graphics to enhance your presentation's effectiveness.
Format your presentation consistent with APA guidelines.
Running Head: 1
5
Name:
Institution:
Instructor:
Course title:
Date of submission:
CONSUMER BEHAVIOR AND MARKETING
Different companies use different strategies in marketing their product or services, and consumer behavior is how consumers respond to the retail environment. Consumer behavior is commonly accepted to mean the relationship in the decision-making process when purchasing (Chanda, 2018). Understanding consumer behavior is significant because it gives clues that can help identify the market segment most likely to respond to one product and service. Consumer behavior is the primary driver at the core of each company's marketing strategy.
Consumer behavior marketing at Apple
Many people have wondered why Apple is so successful. They were not among the first to introduce software to download music, invented computers, smartphones, and portable music devices (Chanda, 2018). Over the last few years, Apple has been able to amass a substantial, loyal following like no other brand backed up by significant sales, market share, and profitability.
One would ask him or herself, so how does Apple do it. The answer here is straightforward because apple is using consumer behavior insight to succeed. The first step is when a consumer purchases a product, either physical or online Apple studies the consumer to determine what the consumer will want next time. This type of study is called the wheel of consumer analysis (Peter and Olson, 2017); this is a high-level framework to gain actionable insight from consumer research.
According to Peter and Olson in their book consumer behavior and marketing strategy, "Behavior refers to consumers' physical actions that others can directly observe." which comes in understanding, analyzing, and influencing consumers' behavior lead in sales and profit-making.
Apple Mission Statement
Apple's corporate mission is to bring the best personal computing products and support to educators, students, designers, scientists, engineers, and businesspersons worldwide.
How Apple communicates
One way a company causes consumer behavior in marketing is knowing how to communicate with the intended customer base. However, there is a unique way in which apples communicate. Apple's marketing communication resonates well with its target market. Apple typically uses the golden theory as its marketing strategy to use things like the central focus in the inner cycle (Chanda, 2018). It then focuses on how exactly the next outer cycle is and the most outer cycle, to be specific (Peter and Olson, 2017). The former Apple CEO Steve Jobs's vision of design and simplicity guiding how Apple does things and what they produce as a whole. One day, Apple used a marketing statement that looked like this, "Everything we do, we believe in challenging the status quo. We believe in thinking differently (Chanda, 2018).
We challenge the status quo by making our products beautifully designed, simple to use, and user-friendly. We happen to make great computers. Want to buy one?". by this point in time, Apple had already known that their consumers behaved in a certain way that high performance, simple and good designs devices are what they wanted to purchase (Chanda, 2018).
Shared Belief
Another method that Apple uses to get marketing through consumer behavior right is shared beliefs. Apple's marketing provides consumers with trust, confidence, and a set of shared beliefs inspiring people to buy products for the company (Peter and Olson, 2017). As a result, the actions, services, products, culture, and marketing employees come. In turn, the consumer will have confidence in the quality of the product, whether it is an iPhone or even Mac, iPod, and iTunes software (Peter and Olson, 2017). This specific shared belief is crucial when establishing a strong brand and customer loyalty in the target consumer's mind.
In Apple's app stores, Apple uses consumer behavior as a marketing strategy. A good example is on the iPhone app store. The app store view is different on the iPhone. When selects an app, he or she gets an immediate question about the reviews about that specific application.
In conclusion, from rewards programs to creative branding to niche marketing, consumers can communicate with consumers according to their personal preference and their understanding of the intrinsic and extrinsic product. Therefore, consumer behavior is a core competency of any successful organization in the current business environment. Apple is an excellent example of how to use consumer behavior in executing successful marketing tactics and strategies. The result is usually a higher edge in the competitive world. The golden circle is what Apple uses to communicate to the target customer base to ensure effective communication. This post does give fundamental concepts of consumer behavior and the Golden circle theory.
Reference
Chanda, K. (2018). PRICING STRATEGIES OF APPLE PRODUCTION AND MARKETING PRACTISED IN HIMACHAL PRADESH.
Peng, X. (2018, January). Study on Apple Marketing Model Based on Modern Aksu Region in Xinjiang. In 2017 5th International Education, Economics, Social Science, Arts, Sports and Management Engineering Conference (IEESASM 2017) (pp. 94-97). Atlantis Press.
Peter, J. P., & Olson, J. C. (2017). Consumer Behavior & Marketing Strategy, diterjemahkan oleh Diah Tantri Dwiandani. Perilaku Konsumen dan Strategi Pemasaran, Edisi, 9.
