The retail marketing strategy that suits the iPhone 2019
The retail marketing strategy that suits the iPhone 2019 includes a retail marketing mix that will emphasize the four Ps of retail marketing. This will include the product which has distinct features that will attract consumers. I will select the premium pricing of the new iPhone since consumers will not bother about rice but will be satisfied with the experience they receive from the product. besides, I will ensure that the product is available in several locations across the globe. I will distribute the products in all the company’s outlets across the globe and open an e-commerce platform that will allow customers to perform online purchasing. I will outsource distribution services from companies such as Amazon and Walmart among others to help distribute the product and facilitate convenient shipping of the products to the customers. I will promote the iPhone using promotional tools such as advertisements, digital marketing, and use celebrities in the advertisement to improve customer experience and improve awareness. This will also help me create a corporate image and increase sales.
Markup shows the percentage increase in price conducted by businesses on their products from the price suitable for the suppliers to attain a profit. Markup will then show the percentage difference emanating between the selling price and the actual cost of a given item. They are applied by businesses to balance the demand and supply of products and prevent stock shortages as well as account for the costs in case of alterations. Markdown shows the discount or a particular reduction in the price of a certain product mainly don by businesses in situations such as in-season sales. This is also conducted when there is excess inventory or if customers dislike a particular product. in cases of brokerages in some products, businesses can also offer discounts or reductions in the prices of such products. Competition, cost of handling inventory, supply, demand, shortages, and policies of manufacturers also affect the bottom line of a company.