Wednesday, May 6, 2020

Marketing Plan For Apple Inc - 1619 Words

Executive Summary This marketing plan focuses on the iPhone 7, produced by Apple, Inc, #3. Apple, Inc was founded in 1976 by innovators Steve Jobs, Steve Wozniack, and Ronald Wayne. It was originally named Apple Computer, Inc as the original intent was to make personal computers. The current name, Apple Inc was incorporated in 2007 as the company moved more toward personal electronics. The current CEO is Tim Cook. Mr. Cook took over Apple, Inc. after Steve Jobs passed away. According to Apple’s website, their core values focus on Education, Accessibility, Environment, Privacy, Inclusion and Diversity, and Supplier Responsibility. The value of Accessibility focuses on technology and the importance of everyone being able to use it for how†¦show more content†¦Opportunities and Threats Apple has competitive advantage in several areas. These include customer excellence, locational excellence, product excellence, and operational excellence. Apple has a unique, high quality product with excellent customer service. They have an extensive online and physical presence and an extremely efficient production. Competition and consumers have the largest effect on the immediate marketing environment for Apple. Per Fortune Tech, during the last quarter of 2016, their market share for activations dropped from 40% to 34%. While Apple was still #1, they experienced a significant drop. In order to recoup the market share, Apple needs to address the competition and also learn why their customers are purchasing or activating fewer of their phones. Action to take 1. Improve market share by increasing innovation. While Apple excels at product excellence, their competitors are catching up. 2. Improve pricing. While the high price increases profits and maintains a high profit margin, if the price point is out of reach for consumers, the product will not sell. 3. Improve operational excellence. While the cost to produce is low, it may be possible to reduce the cost even further which could reduce the effect of the loss of profit margin if pricing structure is updated. 4. Respond to consumers. Apple can no longer be content with their domination of the market. While their products are very high quality, the competitor products are as well andShow MoreRelatedApple Inc. Marketing Plan1502 Words   |  7 Pages Apple Inc. Marketing Plan Executive Summary Apple Inc., which was formally known as Apple Computer Inc., is a multinational corporation that designs, develops and sells a wide variety of consumer electronics, personal computers, and computer software. It is located in United States of America California and has its headquarters in Cupertino, California. 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