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Marketing Plan of a Company

Autor:   •  February 20, 2017  •  Business Plan  •  5,098 Words (21 Pages)  •  606 Views

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Marketing Plan

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Institution:

EXECUTIVE SUMMERY

Marketing Plan enables sustainability, continuity, profitability and growth. Through the plan, a marketer identifies the customers’ needs, expectations, and prices. Therefore a company requires a marketing plan to enable it to design a product that attracts the highest demand and profit. In formulating a market plan, the firm determines not only the consumer behavior but also the internal strengths and weaknesses, and the external opportunities and threats. The company must also stick to its vision, mission and exploit its competitive advantage.

The internal analysis of a company’s potentiality must focus on the product produced; the price consumers should pay for it, where customers will access it, product promotion techniques and the personnel who shall produce it. Therefore a company must conduct an environmental analysis to determine the cost of variables of production and how environmental factors shall impact its success. The environmental analysis involves SWOT analysis, industry analysis, company analysis and the customer analysis.

Once a company has analyzed its potentiality, analysis of the target customers is carried out. This is achieved through consumer behavior profile that is applied to formulate positioning strategy and the marketing mix. With proper marketing mix, as the company is assured competitive advantage, growth, and profitability.

                           

  1. Company

Apple Incorporation is the largest information technology company in the world. It operates in several countries through its headquarter in Cupertino, California. Its primary purpose is to design, develop and sell consumer electronics and computer software alongside offering online services. Amongst its products are the hardware such as iPhone Smartphone, iPad, iPod, Apple Smartwatch and iMac. Its software products are the iOS operating systems, iTunes media player, iLife, and iWork. Lastly, its online services are the iTunes store, iCloud, iOS app store and the Mac App store. The company was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne early in 1976 as Apple Computer, Inc and later changed to Apple in 2007. Its sole purpose was to develop and sell personal computers. It has undergone series of evolution, enlargement, and significant technological advancements. These have improved its brand loyalty, increased market share and profitability. Its revenue generation today is almost 1.5% of the Gross Domestic Product of the United States.

When the company was started, its mission statement was "to make a contribution to the world by making tools for the mind that advance humankind." This mission technically focused on technological innovations and developments that could improve the quality of human life. It was not business oriented but something to help humankind and improve standards of living. Today its mission statement is "Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad". The company exists to be the best in providing technology solutions to consumers differentiated products ranging from best personal computers, best Smartphone, best digital music platform to best professional software.

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