marketing strategies for companies
Companies use different marketing strategies to meet their respective objectives. Apple is one of the brands that have, over the years, witnessed an increase in revenue growth from 2004 to 2014 (Short, 2018). The profit margins have continually risen from 8 billion USD to about 180USD billion over ten years (Short, 2018). Apple is keen not only to make significant profits in the different products and services offered but ensure all the consumers get the opportunity to buy into a lifestyle.
Apple is one of the brands that focus on premium price strategy (Coget, 2011). The company target markets are the high-end consumers who can make purchases of these products with ease. Apple’s marketing strategy heavily relies on passion and power advantage. Over the years, Apple has taken pride over the considerable number of loyal customers the company has over time. The majority of the consumers who prefer to purchase Apple products consider being part of the elite group that uses some of the best products in the tech industry.
Apple has earned a reputation with high quality products over some of its rival competitors (Coget, 2011). The company prefers to improve the previous gadget produced over introducing a new device to allow the customers to upgrade. Also, the company has put in place a plan to enable the consumers to go to the apple shops and trade in their old products and add small fees and upgrade. In summary, Apple is a remarkable brand that uses both passion and power advantage with the top quality products produced by the company and its ability to target the elite in the community. Apple still has an opportunity to continually grow in its market share by the implementation of the right marketing strategies that are in play.