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2 pages/β‰ˆ550 words
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Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Topic:

Apple's Marketing Strategy

Essay Instructions:

Identify as many alternative strategies as possible for fixing/addressing the strategic priority. These options should be creative and strategic, realistic and plausible, and build on firm-specific information uncovered by the situation analysis. DO NOT suggest generic or “business as usual” solutions to the problem. Also, each option MUST be mutually exclusive (this means that it is not possible to implement more than one strategy to fix the Strategic Priority). When writing each strategic response statement, please keep the following in mind:
BAD Strategic Options for the BETA Corp problem statement above:
Bad Option #1: BETA should reduce their marketing budget by 50 percent. (This is a bad example because it does not fix the “repeat customer” problem.)
Bad Option #2: BETA should expand their operations overseas. (This is a bad example because it is too generic, does not fix the repeat customer problem, and is not mutually exclusive with other responses.)
GOOD Strategic Options for the BETA Corp problem statement above:
Good Option #1: BETA should develop a strategic alliance with textbook publisher GOTCHA LLC to develop paper templates for students to speed note taking in class or while reading. (This is a good example in that it may fix the specified problem, builds on firm specific resources, and it suggests a firm-specific action.)
Once stated, briefly discuss each strategic option. Use quantitative information, facts, data, etc. to convey the effectiveness of your solution. Again, be as specific as possible—no vague or overly general commentary here. For each strategic response, discuss the following: How likely is the strategic response to fix/address the strategic priority? Will the strategic response fix/address other problems in addition to the strategic priority? How risky is the strategic alternative? What happens if the solution fails?
Company is apple

Essay Sample Content Preview:

Apple
Name
Institution / Affiliation
Apple
Introduction
Apple is an American corporation founded in 1976 in California, United States. The company designs, manufacture, and markets cellphones, tablets, media devices, and digital music players. The multinational also sells networking solutions, software, third-party digital content, services, accessories, and applications. Apple’s customers seek high-performance products and services that are aesthetically attractive and of high quality (Aljafar, 2016). The company competes in a highly competitive industry that has increased bargaining power. Therefore, Apple must develop innovative strategies that help the firm achieve and maintain a competitive edge and attract and retain more customers.
Strategies
Apple faces stiff competition from other multinationals, including Samsung, Huawei, Sony, Lenovo, Microsoft, and Dell, to mention a few. To improve its competitiveness, Apple should form strategic partnerships with suppliers to look for chances to lower prices to increase market share in segments where the company competes as large sales volume can overcome potential margin issues. Typically, Apple’s reputation and brand allow the company to charge premium prices for its high-end products, making them more expensive than its competitors (Aljafar, 2016). For instance, comparing Apple and Samsung smartphones of equivalent designs and storage memory, Apple’s is more costly. With the economic downfall in many nations instigated by occurrences such as Covid-19, customers have tightened their budgets. By lowering its prices, the company can be able to tap into diverse market segments.
Apple should use promotional marketing campaigns and leverage promotional tools such as sponsorships, online, product placements, and social media advertising to strengthen its brand and increase market share. Today, even the most technically refined and well-designed products are more likely to fail unless the customers know they exist, can purchase them with ease, and offer value for money (Wonglimpiyarat, 2012). Youths currently form the most extensive market share of information technology products and the influencer of their parents' purchasing decisions. Most young people sp...
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