Apple is one of the most valuable … We'll assume you're ok with this, but you can opt-out if you wish. iPhone Target Market Students at any level, in fact, are iPhone target demographics because the use of an Apple product is a bit of a status symbol. Common Diversity Practices in Apple Inc Workforce, US Health Care Industry Overview and Career Outlook. So why wait? Most of the Apple’s users are highly educated millennial. People who are consumers, who are affluent enough to make purchases. Apple has a legendary focus on the customer … This group is conveniently a market for the company. How to Grind Coffee Beans And Store At home? However, Apple does things differently. From its target marketing, research, and product design, Apple is a much more focused company than Samsung. We also use third-party cookies that help us analyze and understand how you use this website. The male-female user ratio was close to 1:1 (53/48). Apple follows blue ocean strategy to distinguish & differentiate itself from other smartphone players in the market. In that sense, the most interesting characteristic about Apple Inc. is that it introduces products to compete with themselves. Students, executives, managers, professionals are the primary target market of Apple Inc. 64% of Apple product users tend to have college degrees. The primary target market for the Company was middle income professionals who needed a phone they could use for multiple applications such as data storage, camera, and … they have markets in fast-track city life. A study showed that 1 in 4 new buyers buy an iPhone because their friends use it. Necessary cookies are absolutely essential for the website to function properly. We can say that the apple market is wealthier, more educated and older than the rest of the cell phone users as the company offers premium service. Apple targets the market with medium to high-income households or individuals. CEO Compensation and America's Growing Economic Divide. Apple is able to combine these two features and develop products that integrate customer experience into design, thereby creating a brand and establishing a good market share. This strategy is derived from the perception that if Apple does not introduce a competing product, another company is bound to do so. How to Select the Best Reciprocating Saw Blades? Where iTunes, Apple Pay, app store and iTunes store are used by the age range 18-30. The company has its next-generation stores in 25 countries, including Brussel, Dubai, China, London, New York, San Francisco, etc. 43 Wall Street analysts have issued ratings and price targets for Apple in the last 12 months. Primary customer targets is the middle-upper income professional to coordinate their busy schedules and communicate with colleagues, friends and family. Target Market Usually, a business would study the market and identify the segments that it will specifically target, and that will figure greatly in its overall product development and strategy. Apple Inc.'s target market is customers with unique needs when it comes to the purchase of electronic gadgets. The solitude age group is 22-55. Explanation: The major target consumers include the young … A good customer experience requires that a company utilizes the best of the product developed. https://brandongaille.com/18-apple-target-market-demographics/#:~:text=The%20Trends%20of%20Apple’s%20Target,in%20the%20next%206%20months. Undifferentiated Marketing Strategy – Definition, Advantages, Disadvantages, and Examples, Environmental Factors of PESTLE Affecting Businesses, Social Factors of PESTLE Affecting Businesses. This website uses cookies to improve your experience. It’s tempting to drop lots of cash on PPC ads … In the Marketing strategy of Apple, it has three target groups One is the music lovers who are targeted by the Apple Ipod and Itunes. Students, executives, managers, professionals are the primary target market of Apple Inc. 64% of Apple product users tend to have college degrees. A perfect example is when Apple introduced the iPod. APPLES TARGET MARKET ; APPLE COMPETITION ; Jessica Saini 8F: apple inc. one of the worlds leading companies Apple Inc. was created on April 1st 1976 by the founders Steve Jobs, Steve Wozniak and Ronald Wayne. Target / Electronics / Apple : Cell Phones (65) ... We know it’s exciting to own the latest smartphones on the market, and Target adds to the excitement with amazing online deals and discounts. Such as the smart, compact devices are more used by people of the 20-45 age group. This implies that Apple's customers spread across the demographic, social and economic factors that influence consumption. Apple Inc.'s target market is customers with unique needs when it comes to the purchase of electronic gadgets. Apple has a well-defined target market focusing on consumer life time value (Kotler & Keller, 2006). Regardless of your industry, product or service, there are a few things to be learned from Apple’s marketing. This target market is not a specific segment, but unique users from different segments. So, their products also determine their target market. Apple has a wide range of products. The company then builds a product around the experience accordingly. Here's who's buying what at Apple , according to Slice: -- A higher percentage of customers who buy the iPhone, Macbook Air, Macbook Pro, and Apple TV are between the ages of 25 and 34. Their products are of different demand segments. But now it has 1.5 billion active users around the world. What a beautiful business model. Shop Target for Apples Fresh Fruit you will love at great low prices. This is because teens are attracted to the value of an iPod and this translates into wanting iPhones, Macs, and other products later on in life. The target market for the iPhone is mostly youths and working professionals in the age of 18-35 who are brand and style conscious. Hardcore Loyalists: this category of the market is specified as loyal customers. There are two types of market segmentation. Choose from contactless Same Day Delivery, Drive Up and more. Their strong e-commerce base has made that possible. Segmentation and targeting of Apple: Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. Despite its efforts at branching out, the American continents remain the most important markets for Apple's products. Rethink the Need for Advertising. There are other companies who design products that are innovative and intellectually advanced, in order to create a brand. To be the Best Source of Business Strategy & Analysis. So, what does Apple’s target market look like? Apple's target market is not just a single target; they have targeted a broad range of consumers from premium customers to users who want products that are easy to use. But opting out of some of these cookies may have an effect on your browsing experience. So, it is not just maintaining regular customers; it’s also about getting new ones for the company. Grab that must-have cell phone along with the right accessories, and get ready to explore the endless possibilities of the … To help them in this process, they need to analyse and break down the different markets into segmentation categories. But with different products, the age dimension varies. This category only includes cookies that ensures basic functionalities and security features of the website. So, the apple users get addicted to the product working style. The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Apple competitors and includes Apple target market, segmentation, positioning & Unique Selling Proposition (USP). Oscillating Tool Tips and Tricks: How Can You Use an Oscillating Tools Efficiently? The first thing that comes to my mind when I hear the brand name Apple is the iPhone, The revolutionary mobile phone which changed the market. iMessage, iMovie, iTunes and so on. The current male to female user rate is 60.8% and 39.2%. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. As of 2020, Apple is one of the leading brands in the IT & Technology sector. These cookies do not store any personal information. NOAA Hurricane Forecast Maps Are Often Misinterpreted — Here's How to Read Them. Teenagers are considered one of Apple Inc.'s target markets. Let’s look at Apple’s market analysis. I have finished my graduation with a major in Economics. Apple Inc. is the highest revenue grossing company in the world. These unique users are loyal to iPhone, and may not easily be attracted by other companies, me among these users. Apple segmentation, targeting and positioning represents the core of its marketing efforts. Therefore, the loyal customer base is also a very crucial market for the company. Their average twelve-month price target is $117.26, predicting that the stock has a possible downside of 13.06%. A study showed that ⅓ of the users have a household earning of $100,000. and there are software services as well like iCloud, iLife. It has come a long way since then and is now one of the worlds leading electronic companies. Let’s begin the journey with Apple products and target market analyses. A COVID-19 Prophecy: Did Nostradamus Have a Prediction About This Apocalyptic Year? Apple is said to be one of the most unique marketers today by Forbes.com. Apple Inc applies the strategy of studying the market and then targeting specific user experiences. Afterwards, the company went on to develop the iPhone despite the fact that the two products both play music. Although Apple is considered a premium brand and many products come with a premium price tag, teens are consider one of the primary Apple target market demographics. It is no secret that the company has invested a lot in observing end users and developing products that suit each customer’s needs. The central idea of the golden circle theory is, people do not buy what a company does, people buy why they do it. Simon Sinek’s Golden Circle theory of how successful organizations communicate describes why Apple’s marketing communication resonates with its target audience. Top 10 blogs in 2020 for remote teaching and learning; Dec. 11, 2020 Dec. 15, 2020. Apple's Target Market Analysis 1625 Words7 Pages Segmentation, Targeting and positioning, also known as STP are an essential part in marketing today. Build compatible experiences. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. So, the target market is expanding in the male market spontaneously. But nowadays the market has become very competitive and lots of smartphones … Apple’s Target TV Market Apple’s original charter for TV+ was high-quality, potentially award winning, original content story telling. They are career-oriented and lead an active social life. Apple conducts all sorts of research to determine and identify their specific target markets to assist them in their marketing strategies to promote their wide range of products. Some of these reasons are to socialize with friends, listen to music and go on Facebook, MSN, twitter etc. College students are one of the primary target demographics for Apple as they typically have more disposable income and a need for the technology. Average Income Group Who Prefers Apple Products, https://en.m.wikipedia.org/wiki/Apple_Inc, https://www.androidauthority.com/are-iphone-users-richer-better-educated-than-android-users-105032/, https://research-methodology.net/apple-segmentation-targeting-and-positioning/, http://heartofcodes.com/positioning-of-apple/, https://www.fool.com/investing/2020/03/24/apple-app-store-will-be-available-in-175-countries.aspx. but they have made app stores as in apple products available in 155 countries. It is mandatory to procure user consent prior to running these cookies on your website. It was founded by Steve Jobs, Ronald Wayne, Steve Wozniak, as a computer manufacturing company. 8 Simple Ways You Can Make Your Workplace More LGBTQ+ Inclusive, Fact Check: “JFK Jr. Is Still Alive" and Other Unfounded Conspiracy Theories About the Late President’s Son. ‎Multifamily and marketing insights to help real estate professionals and apartment investors with the market research and marketing tips they need to grow their portfolio. What is Apple's target market? In business, there are those who design products simply to make money. 1) Middle/Upper income folks who are willing to pay a bit more for a better user experience. Because the switchers often get influenced by the loyalists and buy their first iPhones. A trillion dollars’ worth company, Apple Inc started its journey in Cupertino, California, on April 1, 1976. This website uses cookies to improve your experience while you navigate through the website. Apple iphone Target Market. And their different approach in different regions helps to gather more and more customers. How to increase brand awareness through consistency; Dec. 11, 2020. So, the target market of Apple Inc, is undoubtedly conserved in close to standard to high payroll individuals. There are many reasons why Apple … You also have the option to opt-out of these cookies. But the male user count rapidly grew and Soon it became almost 2:1. Apple is marketing to people who have a few characteristics. They have over 1.5billion users and their market is expanding with their every year product release. Let’s find out. Marketing strategy of Apple iPhone nice & differentiated targeting strategies to be a top player in the smartphone market despite having expensive products. 54% of Apple users buy nothing but Apple products in the future. Till 2011, the very product market was not gender-dominated. 30% of the cellphone market would claim the iPhone as the best phone. Apple reported its first quarter financial results for the fiscal year after the market close on Tuesday, January 28, 2020. Segmentation involves dividing population into groups according to certain characteristics, whereas targeting implies choosing specific groups identified as a result of segmentation to sell products. Functionalities and security features of the product developed differentiate itself from other PDA ’ s look at Apple ’ look..., iMac, iPad, iPhone, MacBook etc Diversity Practices in Apple apple's target market, is undoubtedly conserved in to. And is now one of the leading brands in the male market...., https: //www.celebritynetworth.com/richest-businessmen/companies/apple-net-worth/, economic factors of PESTLE Analysis Affecting Business Organization Steve Jobs, Ronald,. 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