Introduction
The new customer segment involves geographic, demographic, behavioral, and psychographic. Geographic involves individuals that are in United States and international who reside in urban areas. Demographic involves individuals aged 25 to 45 lying within all the four-lifecycle stage. They are high earners working such as remote workers and business managers. This group require devices that are tailored to handle bulk work load such as business systems and business files. This group has emerged since the onset of the COVID-19 pandemic. The pandemic brought the need for remote working expanding the need for cloud services, computers, and mobile devices that can handle complex business operations remotely. The behavioral features focus on benefit seekers involving advanced features, increased capabilities, and speed of service. The psychographic mainly aim at individuals that are in middle and upper social class. The table below shows the new customer market segments.
There are various ways in which value can be provided to the above customer segments. First, the company will focus on the brand perception to enable the consumers feel good when supporting it. Clients prefer brands that support morals and core values they value (“Customer Needs & Value Segmentation Research”, 2022). Second, incorporating customers’ feedback will enable the company to identify ways in which it can improve the products and services to meet users needs. Third, providing unique products and services than competitors will make the clients prefers them over other similar products. Fourth, prioritizing quality over the cost of product is crucial in attracting and retaining clients since most people prefer paying high price for quality products and services. Lastly, rewarding loyalty give a perception that the company value its clients making them to make repeated purchases.
Marketing Mix for New Customer Segments
Products
Mac and iPad are exclusive than other company’s products since they serve a significant group of people because of its features and capabilities. These products are designed with the latest technology that enabled them serve office and remote work operations. iCloud service synchronized with this device enable easy communication between business organization, clients, and employees who work remotely. Large storage capacity and high speed of the devices enables the client to handle multiple operations.
Price
Apple products are normally tailored for middle and social class individuals who are high earners. This makes the company not to compete with other companies’ product in the market for price. Apple Inc. uses premium strategy when creating price for its products. The products are usually launched with premium value which later decline making it affordable for most people. The price of products also varies with various factors such as marketing and distribution costs (Efanny et al., 2018). Other factors include raw materials, regulations, and government policies
Distribution
Distribution of Apple products is either through direct method or indirect. The direct distribution method is used when the client purchases product through Apple online store or retail stores. The company has retail stores all over the world which provides direct sell. Indirect sell of Apple products is done through mobile retailers, resellers and other third parties. Indirect sales form a significant portion of Apple Inc. revenue.
Traditional Promotion
Traditional promotion strategy for the company includes personal selling, sales promotion, and public relation. Personal selling is done at Apple Inc. retail stores where the company employees are used to convince visitors on the product making them purchase. Sales promotion is usually done at authorized resellers and Apple retail stores. These stores implement various strategies such selling old products at a lower cost whenever they have bulk of expensive products. Public relation is employed to provide a different view of the company. It mainly focuses on changing the corporate image of the company for instance, leaking of product features, exclusive interviews, Apple events and press releases.
Online Promotion
Online promotion of the company include advertising on areas such as websites and advertising networks. This strategy provides the differentiation between Apple products those of their competitors. The ads used are straight to the point and are used consistently. This enables the company to create a strong communication with clients. It provides information on the key features of the product and the improvements made.
Marketing Implementation
Implementation of the current plan will involve a series of six steps which will be organized by market. First, setting accurate expectation; this is the initial step of implementation and it involves managing the expectations of all the member of the business. They include the stakeholders, employees and other individuals who have a role in the business. Setting expectation will provide the management, employees, and stakeholders with the possibility of the actual results hence preventing unnecessary pressure. Second, identification of the resources that are required to execute the plan (Berman & Thelen, 2018). These tools will enable the company achieve the set target, goals, and objective with ease. It focuses on the products and services that the company wants to deliver. Furthermore, it also involves the target revenue the organization need to meet. Third, documenting the marketing strategy is important for future reference since the main purpose of the plan is to achieve positive results. Documenting will provide information on areas that need improvement. Fourth, creating a breakdown of the work flow for executing every content. This provides a map of what needs to be achieved through allocation of tasks and period of completion. Fifth, creating a plan for every task will aid in keeping the project in track. Sixth, measuring the outcome is crucial in identifying areas that the underperforming for correction.
Strategic Actions
Monitoring
References
Berman, B., & Thelen, S. (2018). Planning and implementing an effective omnichannel marketing program. International Journal of Retail &Amp; Distribution Management, 46(7), 598-614. Web.
Customer Needs & Value Segmentation Research | B2B International. (2022). B2B International. Web.
Efanny, W., Haryanto, J., Kashif, M., & Widyanto, H. (2018). The relationship between marketing mix and retailer-perceived brand equity. IMP Journal, 12(1), 192-208. Web.
Payne, E., Peltier, J., & Barger, V. (2017). Omni-channel marketing, integrated marketing communications and consumer engagement. Journal Of Research in Interactive Marketing, 11(2), 185-197. Web.