Marketing Strategy

Topic:Think about the impact and message of a giant brand like Apple Inc. Profile its “personality” or image and discuss the brand marketing strategy the company uses to ensure that its brand is effective and growing. If the company had a brand marketing failure, examine this as well and describe the lessons learned from this mistake.

Citations:You will use a minimum of 5 outside sources to support your work and use the textbook to make any connections.  They must be cited both in the paper (in-text or footnotes) and in a works – cited section at the end of the paper.  You will alphabetize your citations and use hanging indents.

?Structure:The following structure should be followed, with labeled parts and subparts as appropriate.

Part 1: Topic– Explain the case study (situations, history, relevant issues internally & externally)

Part 2: Analysis–Identify and analyze the major problem(s) (research issue and alternate solutions, previous experiences in this and other companies) A minimum of 5 outside sources will be used to support this section.

Part 3: Application– Offer 3 alternate solutions with pros and cons for each

Part 4: Discussion and Critical Thinking–Make a recommendation for best action (of the three) and explain your reasoning

Part 5: Conclusion–Explain implementation steps and implications of solutions

?You will also prepare a one-page executive summary of your paper that condenses your work.

Answer:

Executive Summary:

This paper delves into the impact and image of Apple Inc., profiling its personality and discussing the brand marketing strategy employed by the company to ensure effectiveness and growth. It analyzes the major problem areas within the company’s brand marketing strategy and offers alternate solutions with their respective pros and cons. Finally, it provides recommendations for the best course of action and outlines implementation steps and implications of the solutions proposed.

Topic:

Apple Inc. is a giant brand known worldwide for its innovative products, sleek design, and strong brand identity. The company’s brand personality is characterized by traits such as creativity, innovation, simplicity, and exclusivity. Apple has established itself as a premium brand in the technology industry, commanding a loyal customer base and maintaining a strong presence in both domestic and international markets.

Analysis:

Despite its success, Apple has faced challenges in its brand marketing strategy. One major problem area is the company’s reliance on product-centric marketing, which may limit its ability to connect with consumers on an emotional level. Additionally, Apple’s pricing strategy, while effective in maintaining its premium image, may alienate certain market segments and hinder potential growth opportunities. Furthermore, the company’s approach to brand loyalty and customer engagement has been criticized for lacking personalization and authenticity.

Application:

Three alternate solutions to address these challenges are:

1. Diversification of Marketing Strategy:
   • Pros: Allows Apple to reach a broader audience and connect with consumers on emotional and aspirational levels.
   • Cons: Risk of diluting the brand’s premium image and losing its core customer base.
2. Adjusting Pricing Strategy:
   • Pros: Opens up new market segments and increases accessibility to Apple products.
   • Cons: Potential backlash from existing customers and erosion of brand equity.
3. Enhancing Customer Engagement:
   • Pros: Builds stronger relationships with customers and fosters brand loyalty.
   • Cons: Requires significant investment in resources and may not yield immediate results.

Discussion and Critical Thinking:

Of the three alternate solutions proposed, adjusting the pricing strategy emerges as the most viable option for Apple. By offering more affordable product options without compromising quality, Apple can expand its customer base and capitalize on untapped market segments while maintaining its premium image. This approach aligns with the company’s commitment to innovation and accessibility, positioning Apple for sustainable growth in the long term.

Conclusion:

Implementation steps for adjusting the pricing strategy include market research to identify optimal price points, product diversification to cater to different consumer segments, and strategic pricing promotions to incentivize purchases. The implications of this solution include increased market share, enhanced brand loyalty, and sustained revenue growth for Apple Inc.