Marketing Magic and Innovative †Free Samples to Students

Question: Discuss about the Marketing Magic and Innovative. Answer: Introduction: The market size of the each segment of iphone7 depends on the demographic, behavioral, geographic or psychographic factors. The growth of the business is highly dependent on the larger demand coming from chunk of population. Demographic factor includes age, gender, income, education, occupation type, size of family, religion and the type of nationality of the customer (Dameron and Durand 2017). Demographic factors play an important role in demand for the product. Apple Company provides the facility of premium service in order to create more consumers. Normally the range of middle class consumersare pretty higher and they are the greater source of generating demand for the product adding to the higher business Iphone7 is attributed with easy and smart features with the application of latest technology (Jubinville and Lynch 2017). Psychographic segment deals with different kinds of opinions, interest criteria, values and attitude of the consumer. Behavioral aspect includes the loyalty and nature of the consumer for the product. It depends on the income level of the consumer. The people who have already purchased the product consists the first set of people with respect to loyalty analysis. The purchase and use of the iphone by them reflects the trust and loyalty they have gained in the quality with strong brand image. There are second set of people who get attracted due to latest design, innovation and packaging and features of the product displayed to them through advertising that play major role too in buying their attention and desire to own the product. The rest part includes set of people that who are mostly pretentious of their purchasing power ability to boast the society and end up mostly not buying it. These variations in the taste and preference of consumers along with difference in behavioral pattern and attitude, the Apple Company started making provision of premium facilities in terms of incentives to capture the potential consumers into the business. Apple Company focuses on product diversity, product differentiation, innovation and premium facility. While purchasing the Apple products, the segment that deals with behavioral aspect is most popular in terms of making purchase. Behavioral segment includes three sets of people along with the brand loyalty of the consumers. Company is motivated to charge for the premium services it provides to the first set of people. As people have the loyalty for the brand, therefore they pay premium charges for the products (Nickel et al. 2017). This becomes a positive factor for the company to capture more profit. It also creates comparative factor for the company. Loyalty of the consumers and demand made by them create a strong impact on the revenue of the Apple Company that adds to the further growth of it in the market. When consumers are satisfied with the services and features of the phone, they get motivated to pay mpany focuses on product diversithigher for the product as reveled by their willingness to pay. This motivates the Company to produce more customer-based products based innovation and more research and development (Ramadani and Grguri-Rashiti 2017). This brings forth products which are more technologically sound and this evokes interest among more number of customers taking the reputation of the company to a higher level. Products maintaining certain standard of quality and provision of the authentic and economical customer oriented services play the pivotal role in supporting to the brand loyalty. Al of these market factors of helps Apple Company earn dominance in the marketplace over the other companies. References Dameron, S. and Durand, T. eds., 2017.The Future of Management Education: Volume 1: Challenges facing Business Schools around the World. Springer Jubinville, K.B. and Lynch, A., 2017. Special Session: Designing an Integrated 3-Year Marketing Bachelors Degree Program. InCreating Marketing Magic and Innovative Future Marketing Trends(pp. 1103-1107). Springer, Cham. Nickel, A.Z., Stein, O., Mohr, M., Sinske, O.S. and Mohr, O.S., 2017. T Course: Seminar in Operations Research (Bachelor)[T-WIWI-103488].Module Handbook Industrial Engineering and Management (B. Sc.). Ramadani, V. and Grguri-Rashiti, S., 2017. Global Marketing, Gender and Family Business in Asia: A Literature Review.Journal of Global Marketing, pp.1-9.