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Bonnie Leung MKT- 210 April 22, 2013 Apple Inc. Apple Inc. is most notorious for their partially bitten apple logo on their products. The company was found in 1977.Apple Inc. sells electronic products such as laptops, desktops, music players, tablets, and phones. These products are commonly found in the hands of young echo-boomers. Echo- boomers are also called Generation Y. They are the people who are born after the early 1980’s. They are the booming age group who own technologies and are very in touch with the internet.A demographic specifically that defines an Echo-boomers is age group range from 35-12. This product does not target any specific gender or race.Apple targets these young Echo-boomers and does marketing research on what they look for in a cellular device. Initially the creator, Steve Jobs, created a device with the mindset of an easier communication with the device and the removal of the physical keyboard and mouse; it was like a computer-on-the-go. This device would allow synchronizing to be easier and much more efficient. This idea had led to the creation of the iPod. Pushing the product even further, it started to work its way into a cellular device which started the creation of the first generation of the iPhone. The latest Apple product out in the market currently is the iPhone 5. This is a multiple device in one. It has the camera, music player, internet access (computer), voice recorder, and GPS device; which we now call this cellphone, the smart phone. There are a few features that make the current iPhone 5 different from the previous iPhones. Through marketing research, changes have been made to previous iPhones so that the latest one will suit the need of the target market better. This product is different from previous iPhones in terms of design, size, weight, screen quality, camera quality, and its charger port. Comparing the iPhone 5 with the iPhone 4S in size, iPhone 5 is 4.87 inches tall compared to 4.5 inches from the iPhone 4S. The iPhone 5 weighs 28 grams less than the iPhone 4S. Screen quality wise, the resolution on the iPhone 5 is 1136x640 while the iPhone 4S is only 960x640. While both iPhones are able to capture 1080 pixel videos, the iPhone 5 front camera has an improved megapixel camera. Lastly, the most updated iPhone 5 now has a different charger port than the previous productsApple has produced. The port is much smaller compared to past products. The charger accessory is seen as the only con of the product seeing as how the previous 5 generations of the iPhones all have had the same common port for the charger. Even with this con, it all outweighs the newly improved iPhone 5. The target market does not hesitate to purchase this product even though it might require them to purchase an additional accessory for the product. Apple has the power to set the price when it comes to the Price in the marketing strategy. Regular iPhones with the minimum memory and regular Wi-Fi, comes at around $200- $400. The price is 30%- 50% more expensive than regular cellphones. Still the customers are willing to purchase the product. The reason behind such a strong demand for the iPhone is because the iPhone is a smart phone, meaning the phone has much more functions than just a regular cellular device. For example, a smart phone can have, but not are not limited to, a data plan for internet access, a built in GPS, camera, video recorder, and music player. In short to say, iPhone equals to multiple devices. Their higher cost for the smartphone is still reasonable verse if the consumer had to purchase each device individually. Not only is their selling point convenience, Apple Inc. has built a very strong base of customers who are loyal to buying their products. Whenever a new product has been announced, preorders are always sold out in a matter of hours. On the day of the release of the product, there are lines at everyApple store full of customer wanting to get their hands on the products first. Afinal example of howApple Inc. has a strong control over the Price of the product is from howApple never has any sort of deals or sales. Even without any deals or sales, the target market is still willing to purchase the product.
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