Marketing Mix Strategies for Apple-Free-Samples-Myassignment

Question: Discuss about the Marketing Mix Strategies for Apple Watch Singapore. Answer: Product The Apple watch was manufactured to be a limited edition in the smartwatch market in Singapore. The model component has been crafted using a bragging 18-karat gold. The product development was made to top the luxurious market. The target market of the Apple watch comprises of the middle age and those aged above. The Watch is formed to be highly covetous to tap the wealthy(Constantinides, 2016). The group had been left out in the smartphone market for a long time. The watch is a complete brand with a series of products from the of the company which has a high level of customer loyalty. It has a functionality to monitor health conditions and track performance of activities with an inbuilt GPS. Price The Apple watch was given a local pricing option to retail at $549. The variables are leading to this price range from the functionalities of the watch, the brands, and the physical product. Changes in price drivers of the watch cause a consequent alteration in the price. Prices have often changed with time with that during the launch being the highest. Introduction of other series has always caused a drop in the price of older products. Advertising and marketing costs have been a great player in the pricing decisions. The positioning of the product in the status-compelled working population and the targeting of the older people who are sensitive with their health being also directed the exclusive pricing of the product. The prices of the brand aimed at creating a new niche away from the competitor prices. Sales discounts are always popular in particular selling outlets in an objective to increase sales(Constantinides, 2002). Place Apple watch products are premium hence sold in select stores. The distribution channels of the products are few due to high prices. The manufacturer distributes to the select sellers who avail the product to the final consumer. Almost all the population can purchase the products. Singapore is a developed free economy which is highly oriented in trade. The watches are sold in selected resellers authorized by the company. Apple online store in Singapore is the biggest seller in the nation. The working population in the country is tech-savvy and forms more than a third of the total population. The economy is open in a politically stable country with high per-capita income, and its business tax rates are low. Inflation rates in Singapore are as low as even 1% indicating an unusual economic stability and an estimated unemployment rate of 2% in 2015. Property rights, integrity, and freedom in business, labor, monetary, trade, pecuniary, investments, and financials are high scoring more tha n 80%(Saltzman, 2015). Promotion Advertising Advertising of Apple watches creates increased awareness of the products in the Singapore market. Advertisement strategies used include billboards, social media ads, and website postings. The focus is on prospective users to avoid targeting casual audience and to keep costs lower. Advertising promotion informs the potential buyers of the benefits that come with apple watches above the other available products in the market. Sales promotion Promotion strategies for the company have a lot of dependence on the watches and their pricing. Apple watches are final consumer goods, and the sales promotion strategies are directed at the user variables of prices. Products are tailored to provide value to the users. The details of products, prices, and locations of sellers are made known to the consumers through newsletters and point of sale descriptions(Lee, 2009). Equity of brands has necessitated higher prices and expansion of select sellers base to access a wider market. References Constantinides, E., 2002. The 4S web-marketing mix model. Electronic Commerce Research, 1(1), pp. 57-76. Constantinides, E., 2016. The marketing mix revisited: Towards the 21st-century marketing. Journal of marketing management, 3(4), pp. 407-438. Lee, C., 2009. A review of marketing mix: 4Ps or more?. International journal of marketing studies, 1(1), p. 2. Saltzman, M., 2015. Apple Watch For Dummies. 1 ed. New York: John Wiley Sons.