Marketing metrics is a measurement system that quantifies the state and active traits.
It is used in both business and research to define objective, to measure the process and to give feedback on process for those change is required. Good marketing has become a need of the moment so marketing metrics sometimes become priority for the firms as it evaluates the marketing strategies and gives competitive advantage to the firm(Milichovský and Šimberová, 2015).
Traditionally, financial expression or marketing mix elements were focused. However, in this modern world the classification of marketing metrics has changed. As, non-financial metrics are included which is used to evaluate effectiveness in the customer area(Milichovský and Šimberová, 2015).
APPLE’S AND MARKETING METRICS
Marketing metrics tell the current stand of company on various different things related to a company.
Apple has been successful in following lot of things that come under memory metrics such as brand awareness, customer’s intention to buy(Milichovský and Šimberová, 2015).
Apple wasn’t a success initially but it has made some right decisions which has made what it is at the moment. Their aim was not only to lead competitors in sales but they wanted market itself and they have made a trend for other devices to follow.
They have done enough engineering on their products and innovations that has made their products iPhone and iMac. The brand awareness of the apple products is so strong that the products of its competitors are compared with it. Apple products have made a distinctive brand image in the market as people don’t buy a smartphone, they but an iPhone. They don’t but MP3 players, they buy and iPod(Anon, 2016).
The intention of people to buy an iPhone is known to everyone as apple has one of the most die-hard fan base of their products and are crazy for it to buy. As recently a man flew from Bangkok to Australia to buy the latest release of apple, iPhone7(Mail Online, 2016).
Apple’s distribution channel and its easy availability is crucial factor behind its success. It sells its products online through its site. Moreover, it has its own apple stores and other intermediaries for selling its product and making it physically available for purchase. Apple stores opening and closing times vary in different countries according to the countries business hours. Apple had 463 apple stores in the year 2015 in approximate 19 countries of the world(Statista, 2016).
Apple stores have only apple products for sale so its own products occupy all the shelf space for display in the store.
However, it has deals with telecom companies such as Vodafone, AT&T and also the shopkeepers, wholesalers, retailers sell Apple products. The brand image and demand makes it necessary for apple’s intermediaries to display apple products properly in their shops.
CUSTOMER PROFILE METRICS
Apple emphases on marketing their products to people with few different traits. The main target of apple is on the upper and middle class as they their products are expensive and people of these categories are willing to pay more for better experience.
As apple believes in innovation and constantly improve their technology so the age group that apple mainly focuses on is between 18-34 as they love playing with technology.
Apple products like iPods and iTunes are loved by music enthusiasts as they easily compatible with its other products. People that work in media and design form a large segment of its buyers, due to the high-end technology of apple products.
Apple has always had good marketing strategy and has known about its customer needs and how they buy products. In 2012 apple decided to expand its business in India, China and other developing countries. As “grey market” became very famous and consumers were buying more products from authorized re-sellers. apple’s interest in these countries increased due to the increasing middle class in India and China(Johnson et al., 2012).
Chinese consumers were willing to buy Apple products even at higher prices. Moreover, apple knows that it has consumer base in diverse countries and they have to face language barriers to sell their product. Therefore, their iPhone’s come with a voice recognition software called Siri in different languages(Johnson et al., 2012).
Apple has always focused on their marketing activities and they have tried different marketing techniques and have been successful in it. Apple marketing strategy give it an edge over its competitors as know what makes their customers excited and focuses on the same. Unlike, other company’s apple conveys that it cares about customers’ lifestyle rather than talking about features and products(Johnson et al., 2012).
They advertise their products in such a way to make that it appeals the people to have a better lifestyle. Apple comes out with a new product once or twice in a year and it is very difficult for every company to make their every product a big success. Apple supports its product launch with a heavy marketing campaign which ultimately result in the generation of large amount of sales(Johnson et al., 2012).
Anon, (2016). What 7 Key Strategies Must We Learn From Apple Marketing?. [online] Available at: https://blog.kissmetrics.com/7-strategies-apple-marketing/ [Accessed 26 Sep. 2016].
Bajarin, B. (2015). Analyzing Apple Watch Satisfaction. [online] Recode. Available at: http://www.recode.net/2015/7/21/11614888/analyzing-apple-watch-satisfaction [Accessed 26 Sep. 2016].
Johnson, K., Li, Y., Phan, H., Singer, J. and Trinh, H. (2012). The Innovative Success that is Apple, Inc. 418.
Mail Online. (2016). Apple fan travelled from Thailand to Sydney to buy the iPhone 7. [online] Available at: http://www.dailymail.co.uk/news/article-3792354/Is-dedicated-Apple-fan-world-Man-flew-Bangkok-Sydney-sat-rain-18-hours-buy-new-iPhone-7.html [Accessed 25 Sep. 2016].
Milichovský, F. and Šimberová, I. (2015). Marketing effectiveness: Metrics for effective strategic marketing. Engineering Economics, 26(2).
Statista. (2016). Number of Apple stores worldwide 2015 | Statista. [online] Available at: https://www.statista.com/statistics/273480/number-of-apple-stores-worldwide-since-2005/ [Accessed 25 Sep. 2016].
Thomas, M. (2015). Apple brand loyalty. [online] E P O. Available at: http://www.e-p-o.org/apple-brand-loyalty/ [Accessed 26 Sep. 2016].
NAME: ARJIT BHALLA
STUDENT ID: 216178845