Effective Employment Brand Equity †Free Samples to Students

Question: Discuss about the Effective Employment Brand Equity. Answer: Introduction The study highlights on the fundamentals of marketing. Marketing in the business is vital as it helps in delivering high quality as well as differentiated product. It also aids in delivering value to the targeted intermediaries as well as to end users. Integrated team marketing strategy helps in achieving the goal of the organizations (Baker 2014). A marketing strategy has been designed by selecting the target market and implementing appropriate 4p marketing mix that includes product, place, price and promotion. Team marketing strategy provides the company an edge over their rivals and caters the needs of the customers. This report reflects on the team marketing strategy applied for producing Apple iphone. The recommendations for modifying marketing mix is also given for communicating to the target market. Target market refers to the customers that the company considers for selling the product according to their needs. Target market is significant for developing effective marketing strategies and enables the company in designing the plan for accomplishing the objective of business. In addition, target market is a good opportunity in increasing sales of product as the company designs and manufactuers product according to the needs and preferences of target market (Kim et al. 2012). This strategy also helps the company in attracting more customers and attains their trust. One main feature of Apple iphone 7 is that it is water resistant and can be immersed in 1m depth of water as well as it has best operating system. This feature appeals the target customers and thus increases the sale of this product. This company has ensured that their operating systems software can run only on their installed hardware devices, which differs them from other competitors. However, it places good control o n the development of the entitys new version of Apple iphone. The marketing strategy that Apple company implements for the iphone 7 helps in attaining highest brand position and improving sales performance. The team marketing strategy for Apple iphone 7 involves minimal budget for advertising and premium pricing strategy. Apple iphone 7 is expensive as compared to other companys similar product (Ryan 2016). The high price point facilitates the organizations in promoting as well as maintaining favorable insight among their local customers (Fifield 2012). The buyers gain the perception that the expensive product represents good quality and this attracts them in purchasing the product. However, pricing strategy of this product helps in positioning the company in highest rank over its competitors. In addition, the budget that the company prepares for the advertising is minimum as they never includes print as well as broadcasting media for advertising this product. They basically expose this product through various traditional mediums as they are de signed by network carriers. As the company releases iphone 7, network carrier announces their present customer base as well as target market. this benefits the company in increasing their sales as they designs the products based on the present customers preferences. This also helps Apple Inc in identifying their brand positioning in this competitive market. Marketing mix refers to the decision set that the company must focus before launching their new product. This decision set is based on 4P that includes- products, place, price and promotion. Based on these four variables, every firm takes strategic decisions in order to smoothen process of selling any product. Before making product decisions, the company must focus on its quality, USP and its brand value. If the features of the product do not fit this mix, then the company must alter the product. As pricing affects product positioning in the market, the company must focus on the several factors before making pricing strategy. These factors include- competitors pricing strategy, advertising as well as marketing expenses and distribution cost. In addition, place relates to the product distribution channel. This means that if the commodity is premium consumer one , then it should have availability in selected stores. Furthermore, promotions include integrated marketing communications th at in turn involves advertising approach of promoting the product. It is mainly considered as marketing expenses and is effective for increasing brand equity of that particular product. The recommendations given to Apple Inc for modifying the marketing mix includes- Product- Apple iphone 7 is quite complicated in comparison with other android mobiles and does not have good stereo quality. Therefore, it is recommended that the management of this company must design the product in simpler way in order to reduce the difficulty level of the customers in operating the product. Place- Apple iphone is mainly found in malls as well as premium places across the globe. They apply the strategy in order to attract premium customers (Chaffey et al. 2013). It is recommended that the firm must open stores in few more places so that premium customers do not face any difficulty in purchasing the product from going to premium places which are far from their location. Price- Apple iphone 7 has skimming price, which means the price of this product is higher as compared to other phones. In addition, this company does not give any discount and hence it restricts large number of customers from buying it as they cannot afford it. Thus, it is suggested that Apples marketing strategy must give discounts in form of exchange offer as well as sales promotions (Gordon 2012). Promotion- This Company must increase the budget for advertising the product in different mediums. As Apple uses most ATL medium than BTL medium in promoting the product, it loses some customers.ATL mediums includes launching the products in television, radio and other social media (Palmer 2012). On the other hand, BTL medium uses advertising method with hoardings and exchange offers for luring customers. Therefore, it is suggested that Apple Inc must equally use BTl marketing in order to attract low-income customers. The team marketing strategy has been quite successful in the market as the company attains good reputation for this product. The rating given to this teamwork is 8 out of 10, in which 10 is the highest success level (Okazaki 2012). The factors that contributed to this level of success and attaining good brand position in the market includes trust among the members in the team, focus on attaining collective ideas regarding promotional activities of this product, each member was prepared in checking their progress, huge commitment of each members and agreeing in implementing particular action plan. This also helped in building good relations among the team members, which motivated them in focusing in the work. As a team member, my contribution was giving new ideas, building good relation with the team and helping others in difficult situation. However, in future online teamwork can be done through implementing new technology in order to manufacture the product in less time (Malhotra a nd Malhotra 2012). Conclusion From the above assignment , it can be concluded that team marketing strategy plays a vital role in success of the company. It also helps the firm in gaining competitive advantage over its competitors and expanding the business around the globe. It has been noted from the above report that Apple has achieved huge success from launching Apple iphone 7 due to appropriate marketing mix strategy developed by the team. References Okazaki, S., 2012.Fundamentals of mobile marketing: theories and practices. Peter Lang Publishing. Malhotra, N.K. and Malhotra, N.K., 2012.Basic marketing research: Integration of social media. Boston: Pearson. Palmer, A., 2012.Introduction to marketing: theory and practice. Oxford University Press. Chaffey, D., Smith, P.R. and Smith, P.R., 2013.eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge. Huang, R. and Sarigll, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix.Australasian Marketing Journal (AMJ),20(2), pp.122-126. Ryan, D., 2016.Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers. Sheth, J.N. and Sisodia, R.S., 2015.Does marketing need reform?: Fresh perspectives on the future. Routledge. Fifield, P., 2012.Marketing strategy. Routledge. Baker, M.J., 2014.Marketing strategy and management. Palgrave Macmillan. Kim, K.H., Jeon, B.J., Jung, H.S., Lu, W. and Jones, J., 2012. Effective employment brand equity through sustainable competitive advantage, marketing strategy, and corporate image.Journal of Business Research,65(11), pp.1612-1617.