Apple
Apple products have always been one’s preferred brand for phones, computers and other technological devices. Although its products have a premium price tag, the quality of its products is unquestionable. Aside from the high quality of its products, Apple offers excellent customer service and in-store experiences. Another reason for one’s preference over Apple products is it is very user-friendly. For the smart phone segment of Apple, the main competitors of the Apple iPhone are Samsung and Nokia. Compared to Samsung and Nokia, Apple iPhones command a higher price, yet people are willing to pay for that price. Apple can be considered as more innovative than Samsung and Nokia. Apple does not only improve its hardware, it also strives to create a total mobile experience by including music, movies, apps and computing on its products, which Nokia failed to do. Apple has developed a “superior product-service ecosystem”. Samsung on the other hand, uses an android OS unlike Apple which uses an IOS. Apple iPhones are aesthetically-designed while Samsung phones have a more compact design.
One believes that the four criteria that Apple uses to segment its market are demographics, buyer behavior, psychographic factors and geographical location. Apple is one of the most innovative companies in the world. They are able to cross over the various demographics of the market. They are able to make a special type of product for a special type of customer. The company has different features for one product and different products for different needs; thus, they attract all age groups, family size and professions. In terms of income, Apple users belong to the higher income group which has more disposable income. Their customers buy their products, without too much concern for the price. Brand loyalty is a big factor in the buyer behavior of Apple consumers. The psychographic criteria is taken into consideration by Apple in developing its product designs and features. An example of this is the different colors of iPhones or iPods that Apple offers to fit the personalities and lifestyles of its consumers. In terms of geographical location, Apple can be found all over the world. Apple products can be bought through their own retail stores, their website and other third party dealers.
Apple has a very wide market that it spans through all age groups and income groups. One of its major markets are the teenagers. This market includes students who deem it important to stay connected through Facebook, Twitter or Instagram. They are also the group who listens to music and spends hours playing with games on their Apple devices. They also use their Apple iPhone, iPad or Mac to do research any time of the day. These are the people who are usually image conscious and wants to be up to date with the latest gadgets.
The millennials or Generation Y are also considered as one of the primary markets of Apple. These are the people born between the years 1980 to 2000, mostly young working professionals. This is the generation who are so hooked on technology. They are very dependent on computers and the internet. The millennials are those who “grew up in an electronics-filled and increasingly online and socially-networked world”. Apple definitely answers the needs of the millennials.
References
Bajarin, T. (2012, May 7). 6 Reasons Apple is so successful. Retrieved from Time Inc.: http://techland.time.com/2012/05/07/six-reasons-why-apple-is-successful/
Itif.org. (n.d.). Apple and Nokia: The transformation from products to services. Retrieved from www2.itif.org: http://www2.itif.org/2015-transformation-products-services.pdf
TechTarget. (2016). Millennials (Millennial generation). Retrieved from WhatIs.com: http://whatis.techtarget.com/definition/millennials-millennial-generation
