Product/Service Analysis for Iphone
Product/Service Analysis for iPhone
Brief description of market I selected iPhone for this individual assignment. The iPhone falls under smartphone category and Apple manufactures iPhone. A smartphone is a high-end mobile phone that offers multiple innovative and convenient features than a traditional phone. Apart from making calls, consumers want to access internet, watch video, take pictures, listen to music and want PDA features in one device and smartphone is the right product for those users.
Differentiated marketing strategy is a market-coverage strategy in which a firm decides to target several market segments, and design separate offer for each. Apple uses a differentiated marketing strategy by offering 16 GB and 32 GB iPhones to target different segments based on usage. Some of the iPhone direct competitors are Motorola Droid, Samsung F700, HTC EVO, Samsung Galaxy, Nokia N8 and Blackberry Bold.
Segmentation Approach It’s not possible for companies to satisfy everyone in the market. Since they cannot connect with all the customers, companies divide the market into segments with distinct needs and wants by examining demographic, geographic, psychographic and behavioral difference among buyers. Then, they identify which market segments it can serve effectively. Market segmentation helps organization optimize how it defines, identifies and appeals to important customer groups. After careful analysis, the following segments are identified for smartphone market as a whole in the following segmentation category.
Demographic:
Income: High, Medium-high, low-medium
Age: Teens, 18-24, 25-34, 35-54, 55+
Occupation: Students, Professionals and technical
Geographic:
Economically: Developed countries (USA, UK, Germany, France, Canada, Australia etc.), Developing countries (Brazil, India, China etc.)
Density: Urban, rural
Psychographic:
Fashion Segment: Users who want to get coolest,
Brief description of market I selected iPhone for this individual assignment. The iPhone falls under smartphone category and Apple manufactures iPhone. A smartphone is a high-end mobile phone that offers multiple innovative and convenient features than a traditional phone. Apart from making calls, consumers want to access internet, watch video, take pictures, listen to music and want PDA features in one device and smartphone is the right product for those users.
Differentiated marketing strategy is a market-coverage strategy in which a firm decides to target several market segments, and design separate offer for each. Apple uses a differentiated marketing strategy by offering 16 GB and 32 GB iPhones to target different segments based on usage. Some of the iPhone direct competitors are Motorola Droid, Samsung F700, HTC EVO, Samsung Galaxy, Nokia N8 and Blackberry Bold.
Segmentation Approach It’s not possible for companies to satisfy everyone in the market. Since they cannot connect with all the customers, companies divide the market into segments with distinct needs and wants by examining demographic, geographic, psychographic and behavioral difference among buyers. Then, they identify which market segments it can serve effectively. Market segmentation helps organization optimize how it defines, identifies and appeals to important customer groups. After careful analysis, the following segments are identified for smartphone market as a whole in the following segmentation category.
Demographic:
Income: High, Medium-high, low-medium
Age: Teens, 18-24, 25-34, 35-54, 55+
Occupation: Students, Professionals and technical
Geographic:
Economically: Developed countries (USA, UK, Germany, France, Canada, Australia etc.), Developing countries (Brazil, India, China etc.)
Density: Urban, rural
Psychographic:
Fashion Segment: Users who want to get coolest,