marketing

Essay by jadeeamberHigh School, 12th gradeA, September 2014

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Executive Summary

Marketing is possibly the most important function of a business as it has a direct impact on productivity and sales. Effective marketing strategies are a stepping stone to develop brand awareness and customer loyalty which ultimately lead to increased sales and achieving strategic goals such as profit maximization. Marketing strategies used by successful businesses include:

Market segmentation, product/service differentiation and positioning

Products - goods and/or services

Price including pricing methods

Promotion

Place/distribution

People, processes and physical evidence

E-marketing

Global marketing

This report will explore market segmentation, product/service differentiation and positioning and global marketing in relation to Apple Inc. in their marketing of the iPhone as well as McDonalds, Lean Cuisine and Kmart.

Market segmentation, product/service differentiation and positioning

Demographic segmentation such as gender or income are amongst the most popular variables for segmenting a market. Marketers will design, package and promote products to meet the wants and needs of their target market.

Apple's high price of iPhones is targeted at higher income customers in developed countries. In order for iPhone to be more competitive to customers globally, Apple released the iPhone 5c as the first 'low cost' iPhone which is an example of Apple's use of demographic segmentation to target consumes with lower incomes.

The fast food giant McDonalds has incorporated different menu items in various locations to meet the diverse requirements of specific geographic regions based on factors such as race or religion, demonstrating the use of geographic segmentation. For example, offering halal meat in Muslim dominated areas such as Auburn. The use of this strategy is an important, particularly to global businesses like McDonalds as they are able to be able to market products on a global scale.

Apple integrated ITunes in their iPhone based on the earlier success of the iPod. Apple identified the...