Marketing Communication and Brand Strategy No Plagiarism

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Week 5 MKT 571 Assignment Marketing Communication and Brand Strategy

Purpose of Assignment

I am currently in a master's graduate course in marketing and was needing some help in a research report for better understanding of the material when it comes to creating a marketing plan that has to include proper APA cited references, a minimum of three or more peer-reviewed references with direct web links provided (peer-reviewed is two or more authors), and most importantly no plagiarism per instructor request and will be checked. If found, points will be taken off or will fail the assignment. Here is the following topics for this two-part assignment:

This assignment is designed to help students understand the interrelationships between brand strategy and the communication message to the target audience.

Brand strategy and the communication of the brand is essential to understanding the various phases of a product or service (viz a viz the life cycle). Brand recognition is based in the marketing communication efforts of the firm. When you hear or see the word Coke, you immediately know it is Coca Cola. When you see five interlocking rings of different colors you know that is the symbol for the Olympics. In Week 5, you will develop a brand and communication strategy for your product.

Assignment Steps

Develop a minimum 700-word or more (excluding cover page, reference page, and charts, tables and graphs that do not count toward word count, unless has a description topic to explain) branding strategy and marketing communication plan in Microsoft® Word.

This document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies lists below).

The five elements you select should only come from the options provided below. You must include a measurement of customer loyalty and retention in your strategy document. You may include more than the minimum to provide clarity and coherence to your document.

  • Introduction
  • Situational Analysis:
    • Vision, Mission, Strategic objectives, Values
    • Strengths/Weaknesses
    • Competitor's Strengths/Weaknesses
    • Market Segments
  • Product, Place/Distribution, Promotion, and Price Strategies:
    • Creating a Brand Image
    • Maintaining Brand Image
    • Branding Concerns
    • Promotion/Integrated Marketing Communication
    • Advertising Strategy/Objectives
    • Push and Pull
    • Media Strategy
    • Advertising Execution
    • Public Relations/Strategies
  • Conclusion
  • References (include three or more peer-reviewed references that are two or more authors for peer-reviewed) plus include direct web links for references

Note: Charts/graphs/tables do not count toward the word count.

The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.

Cite a minimum of three or more peer-reviewed references with direct web links.

Format your assignment consistent with APA guidelines.

Side Note: Have “four” documents attached; first one from my Week 1 marketing plan topic titled “Researching Marketing Questions” that details a general description of my chosen company of Apple Inc. and their general description of their service, which is “Apple Pay Service” located on the document for “Part 2” pg. 4.

Week 2 document on “Understanding Target Markets;” Week 3 document on “Promotion and the Product Life Cycle;” and Week 4 document on “Price and Channel Strategy” that is all a continuation of my marketing plan project research for the Apple Company and their “Apple Pay Service” product.

Cite a minimum of three or more peer-reviewed references (peer-reviewed is two or more authors, APA cited). Include direct web links per instructor request.

Format your assignment consistent with APA guidelines. Include APA citations throughout document within research, especially as it pertains to any financial or statistical data talked about per instructor request.

Include proper title and sub-title headings for each topics listed above for research.

Most importantly, No Plagiarism per instructor request and will be checked-if used points will be deducted off or will be considered a failing grade.

Unformatted Attachment Preview

1 Researching Marketing Questions Researching Marketing Questions Andrea Markiewicz MKT/571 July 9, 2018 John Schaefer 2 Researching Marketing Questions Memorandum To: John Schaefer, Senior Vice President (SVP) of Marketing From: Andrea Markiewicz, Marketing Analyst Date: July 9, 2018 Subject: Marketing Report Part 1 Research Marketing This memorandum gives an insight into the business growth overview dataset. It compares year to date (YTD) data from January to June of 2015 with information from January to June of 2016. There is also quarter to date (QTD) data for April, May, and June of 2015 to 2016 and month to date (MTD) data from June 2015 to June 2016 (University of Phoenix, 2013). The information has been interpreted to identify the main areas of importance regarding increases or reductions, insights for continued growth, and trends. The business growth overview dataset indicates several regions that illustrate a significant increase or decrease. Major Areas of Increase or Decrease Year to Date (YTD) Dataset- The global breakout revenue per day for 2015 was $96,976 while that of 2016 stood at $105,768, an increase of $8,792. There was also an increase in the domestic and international markets (University of Phoenix, 2013). The domestic revenue per day for 2015 was $85,181 while that of 2016 was $93,683, an increase of $8,502. Customer ranking 3 Researching Marketing Questions selling activities showed an improvement, with expansion and retention generating the highest revenue of $7,634,424 and 3,026,592 respectively (University of Phoenix, 2013). There was revenue growth in the customer class industries with commercial and municipal generating the highest revenue. International and municipal customer class industries had the lowest sales and gross profit averages per day. International customer class had a sales average per day of 1.8% and a gross profit average per day of 2.3% while municipal customer class had a sales average per day of 5.3% and a gross profit average per day of 3.9% (University of Phoenix, 2013). The organization should implement a marketing strategy that can help them attract international customers to generate foreign exchange revenue. Quarter to Date (QTD) Dataset- In the quarter to date dataset for April, May, and June of 2015 and 2016 most areas indicate growth although some still have deficits. For instance, the customer class industry of education shows a loss in gross profit of -3.8% whereas resellindustrial hygiene has a decline in sales and loss in gross profit of -8.4% and -14.2% respectively (University of Phoenix, 2013). The data about top customers for Delta Appliance and Francios and Sons are very alarming. In the case of Delta Appliance, there is a decline in sales of -21.0% while Francios and Sons' sales declined by -7.0%. Check Gmbh generated the highest sales and gross profit margin of 2835.2% and 3186.6% respectively (University of Phoenix, 2013). Month to Date (MTD) Dataset- From June 2015 to June 2016 there was a relative balance in the global breakout, customer class industries breakouts, and customer ranking activities. Most of the customer data indicate minimal gains or losses. Top customers such as Delta Appliance, Here4U, and Euro Ltd increased their sales by 5258.2%, 100.0%, and 126.6% respectively (University of Phoenix, 2013). 4 Researching Marketing Questions Trends Data trends indicate growth for the company as a whole. High volatility exists in the company's top customer category and is highly evident in the month to date (MTD) data. Although month to date data was less predictable, information appears to stabilize over the quarter to date (QTD) and even further on the year to date (YTD) sheet. The trending top customer data repeatedly indicates Fish Limited and ABC Corp as the leading generators of revenue (University of Phoenix, 2013). The customer class commercial industry trends categorize them as the class leader in revenue generation regardless of the period examined. Insights and Additional Analysis The organization should assess its current position and create a marketing strategy to help it overcome the negative trends. Before setting marketing goals, it is important to reevaluate and identify target customers to determine the approach the company can use to communicate with them. After this has gotten achieved, the budget must be streamlined to ensure it can meet these goals (Kotler & Keller, 2016). A timeline for executing and releasing the plan must be identified to enhance the effectiveness of the strategy. The strategy should be reviewed on a regular basis to ensure that it aligns with the company's goals and objectives. Part 2 General Description of Apple Inc. Apple Inc. is an American global high-tech organization whose headquarters are in Cupertino, California. The firm develops, designs, provides services online to consumers, and 5 Researching Marketing Questions sells electronics and computer software. The company has been known to be a popular digital ecosystem that’s been known to develop both electronic soft-wares and hard-wares. Apple is unique when it comes to allowing customers to buy and share contents such as movies, applications, and music. Its products include the iPhone, iPad, and Mac. It offers operating system software such as macOS, iOS, and tvOS. Apple provides services such as iCloud, Apple Pay, internet, and Apple Care (Apple Inc., 2016-2017). Apple is categorized as a public company and comprises of many shareholders made up of mutual funds, private investors, and institutions. From Apple's annual form 10-K reports in the year 2016 they had approximately 116,000 fulltime employees, and in the year 2017, that number had increased to 123,000 full-time employees. When it comes to their net sales or revenue, in the year 2016, they obtained $215,639,000 and in the year 2017 that value increased to $229,234,000 (Apple Inc., 20162017). General Description of Apple’s Service The following analysis will focus on the Apple Pay Service. It is a mobile payment service that provides a secure, comfortable, and private way of making payments. This service pulls an individual's debit card, credit card, and other delicate remittance information from the Wallet app, allowing an individual to use an iPad, Apple Watch, or iPhone as a checkout billfold (Betters & Grabham, 2018). It enables a user to pay for commodities in stores that accept cashless payments and to pay for products within participating applications on suitable devices. Apple Pay supports reward programs and store-issued debit and credit cards. The service supports a majority of debit and credit card providers like American Express, Visa, and MasterCard (Betters & Grabham, 2018). 6 Researching Marketing Questions References Apple Inc. (2016). Annual Report Form 10-K. United States Securities and Exchange Commission. Retrieved from http://investor.apple.com/secfiling.cfm?filingid=1628280-16-20309&cik=320193 Apple Inc. (2017). Annual Report Form 10-K. Unites States Securities and Exchange Commission. Retrieved from http://investor.apple.com/secfiling.cfm?filingid=320193-17-70&cik=320193 Betters, E. & Grabham, D. (2018). What Is Apple Pay, How Does It Work, And How Do You Set It Up? Pocket-Lint. Retrieved from https://www.pocketlint.com/phones/news/apple/130870-what-is-apple-pay-how-does-it-work-andwhich-banks-support-it Kotler, P.T. & Keller, K.L. (2016). Marketing Management. (15th ed.). Pearson Education, Inc. Retrieved from University of Phoenix Online eBook Database. University of Phoenix. (2013). Week 1 Business Growth Overview. Retrieved from University of Phoenix, MKT-571 Website. 1 Understanding Target Markets Understanding Target Markets Andrea Markiewicz MKT/571 July 16, 2018 John Schaefer 2 Understanding Target Markets Understanding Target Markets Apple Inc. is a technology company whose operations span across various continents. The company's activities get geared towards developing, designing, and selling products which are unique (Kim, Park, Choi & et al., 2016). These items include electronics, services which are available online, and computer software. Apple Inc.'s innovative endeavors enabled it to develop a service that facilitates mobile payments. The utilization of Apple Pay Service by clients ensures that the payments made are not only secure but that they can also be made comfortably and in a manner that is private. The application is most useful to clients when used in stores where cashless payments are permissible (Apple Inc., 2018). The research endeavors to evaluate the opportunities currently available to the enterprise as well as future prospects. An examination will also get conducted into the threats presently faced by Apple Inc. The market targeted by the enterprise is to be analyzed to determine its specific features. Research Marketing Plan Current Opportunities- The application gets mostly preferred by individuals conducting personal transactions. Individuals engaged in various forms of business activities also make use of mobile payments. Moreover, the market that cannot only be exploited internationally or even domestically continues to register an increase. Clients are continuously getting engaged in selling related activities. Hence, money circulation depicts an improvement as their revenues continue to indicate some growth (Burge, 2016). A significant number of clients indicate some preference for making their payments using the applications available on their handsets owing to the convenience that they offer. The 3 Understanding Target Markets company has been able to penetrate various segments in the market. This activity ascertains that multiple categories of clients can have access to handsets that would enable them to make their payments. The benefits guaranteed to either of the parties engaged in transactions includes the value available to clients over their lifetime. The requirement that clients should make payments to intermediaries is among the provisions eliminated by Apple Pay Service (Apple Inc., 2018). Potential Future Opportunities- The features incorporated into the methods utilized in making mobile payments would increase the number of clients who may opt to make use of the platform availed by Apple Inc. Hence, innovativeness would enable Apple Pay Service to attract more consumers who would want to use it to ascertain that their payments are finalized (Kim, Park Choi & et al., 2016). The implementation of programs meant to reward the loyalty of clients would ensure that the outcomes evident are positive. Moreover, an improvement in the infrastructure set up paves the way for the desired profits to get attained. However, Apple Pay Service must ensure that the platform offering for the use of its clients gets reinforced. Relying on artificial intelligence provides the impetus that would ascertain that specific processes indicate an improvement. Also, improvements can get made to the payment services offered by Apple Inc. to make it possible for clients to make use of the application even when they would like to make offline payments. Apple Inc. can expand the provision of its payment services outside America. Current Threats- There are various threats to be anticipated for Apple Pay Service. Customers can expect that a trail will be evident digitally relating to cash transfers or purchases that might get made. The implication is that although they might clamor for privacy, it 4 Understanding Target Markets may not be guaranteed. Despite the numerous payments that users can be able to make using the platform, security remains an issue that threatens Apple Inc.’s innovation (Gregson, 2016). In some cases, the threats against Apple Pay Service manifest when clients get rendered incapable of offsetting their dues owing some unwarranted interference with the platform available. A breach of the systems utilized by Apple Pay Service could pave the way for a situation in which the client's data gets used for clandestine activities. Majority of the fraudulent activities taking place via online sources gets estimated at 72% (Experian, 2018). In most scenarios, theft assumes the form of stolen identities. However, the trend that is currently evident is that measures are being implemented to ascertain that the details offered by application users can keenly get verified. Apple Pay Service SWOT Analysis Strengths Weaknesses • The company is strong financially • • Extensive partnership focusing on the market domestically • The equity of the brand available Opportunities • • Limited distribution of the services offered Threats Investment in research paving the way • Aggressive competition for the adoption of EMV technology • Lack of privacy with payment trails Technological dependency among clients (Fig. 1: Smith, 2008-2018) 5 Understanding Target Markets The company has an extensive muscle financially that makes it possible for it to invest in research as well as endeavors which are innovative. Moreover, clients are loyal to the brand owing to the image that it has been able to develop. However, other companies such as Samsung and Google have launched tough competition against the enterprise (Smith, 2008-2018). Target Markets Demographics- Most Americans prefer to make their purchases using cash or debit as well as credit cards. However, millennials formulate the majority of the group who make use of Apple Payment Service. Millennials refer to individuals whose birth occurred in the 1980's and the 1990's. In some situations, the early 2000's is also considered (Tanner, Mitchell & Comeau, 2010). They prefer being hyper-connected. Also, most of them are often savvy technologically. Their ages usually range from 18 to 36 years of age. In most situations, the clients who are likely to make use of the Apple Pay Service enjoy a live service with their families that can be deemed to be functional. Their families comprise of individuals who are from different generations. In 1980, the median which gets established for millennials was $35,845 (Josephson, 2018). In 2000, the amount indicated improvements to $37,355 whereas $33,883 got obtained from the years 2009-2013 (Josephson, 2018). The earnings that accrue to millennials are a merger in comparison to what can get attributed to baby boomers. The education attained is often a significant determinant of the wages that the parties involved can earn. 6 Understanding Target Markets Psychographics- The millennials are fast becoming one of the most massive consumer blocks. They have already shown themselves as big spenders in the economy. Millennials usually believe in self-expression and uniqueness in interests, activities, and opinions. This process ensures that the ideas brought into the workforce are not only new but also characterized by a variation of the personalities that a workforce can avail. Social media gets used where individuals endeavor to express themselves in the millennial generation age group (Wright & Ettinger, 2006). The individuals categorized as millennials are continually coming up with new ideas and making them work because they get exposed to a significant amount of information. Millennials commonly get involved in many activities daily. First, with the development of internet technology, millennials are highly connected to the internet activities. They use the internet to make new friends, find online jobs, learning new things, and reflecting on their professional success. Secondly, millennials like spending time with others outside their homes and workplaces. Enjoying nature and other outdoor activities have helped the millennial generation to increase their ability to relate to others (Wright & Ettinger, 2006). This process has been one way used by the millennial generation to kill boredom, reduce levels of frustrations, and a good time for meditation. Finally, the millennial generation like engaging in clubs, having entertainments, and attending social events. Many care about how they look, and they enjoy taking care of themselves. They, therefore, engage in frequent exercising activities and like eating healthy. Millennials usually have busy social life interests. They typically exhibit some new shopping habits in malls and other big supermarkets. They tend to snack more compared to the older generation. They are seldom alone. They usually get together for drinks, lunch, and other 7 Understanding Target Markets meals. Food is a significant component of their social lives. They love sharing information. Due to the increased use of smartphones, they keep on texting with friends constantly in sharing trending information. Through Facebook, Twitter, and other social sites they always share what they care about and encourage others to share information. The millennial generation highly depends on the opinions of others (Lingelbach, Patino & Pitta, 2012). They also depend more on the consumer online reviews and blogs whenever they need information about particular products. This following generation is usually a brand influencer and can share opinions with other people such as friends, family members, and the online community. The generation value information and relationship and look out for brands that can help them connect with each other (Lingelbach, Patino & Pitta, 2012). The opinions of the Millennials can influence the decision of others and therefore likely to pass brand loyalties to other people. Through their creative visuals and information, they can pass their creative expression and opinions about various products. Explanation of Insights Gained from Inspection and Analysis Demographic characteristics offer the possibility that the basic features which get attributed to the market targeted will be understood. On the other hand, psychographic attributes provide an in-depth understanding of the factors which facilitate the decisions that clients make (Kotler & Keller, 2016). The factors analyzed help in the determination of the parties who are most likely to make purchases and the underlying reasons. The information obtained helps to ascertain that any of the marketing endeavors that might get undertaken are effective. The identity assumed by clients will not only get 8 Understanding Target Markets underscored, but in the location in which they can get found. Evaluating the response(s) to the messages offered for marketing becomes a possibility. The factors that provide the motivation for the utilization of the applications provided can also be effectively understood. Conclusion It gets anticipated that the individuals who would depict a preference for making payments through methods which are mobile are likely to increase over time. The benefits that accrue to consumers outweigh the risks which might be involved. Moreover, understanding the characteristics that relate to the clients targeted ensures that all the endeavors that might get resorted to can yield the outcomes anticipated. 9 Understanding Target Markets References Apple Inc. (2018). Apple Pay Support. Retrieved from https://support.apple.com/applepay Burge, M. E. (2016). Apple Pay, Bitcoin, and Consumers: The ABCs of Future Public Payments Law. Texas A&M University School of Law. 67, 1493-1549. Retrieved from https://scholarship.law.tamu.edu/cgi/viewcontent.cgi?article=1931&context=facsc holar Experian. (2018). The 2018 Global Fraud and Identity Report. Retrieved from https://www.experian.com/assets/decision-analytics/reports/global-fraud-report2018.pdf Gregson, M.L. (2016). Less Is Not More: The Need to Regulate Apple Pay. North Carolina School Banking Institute Journal. 20, 311-337. Retrieved from http://el2ne5ae7f.search.serialssolutions.com/?ctx_ver=Z39.882004&ctx_enc=info%3Aofi%2Fenc%3AUTF8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Ao fi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Less+is+not +more%3A+the+need+to+regulate+Apple+Pay&rft.jtitle=North+Carolina+Banki ng+Institute&rft.au=Gregson%2C+Maxwell+L&rft.date=2016-0301&rft.pub=North+Carolina+Banking+Institute&rft.issn=1096- 10 Understanding Target Markets 7249&rft.volume=20&rft.spage=311&rft.externalDocID=A450037457¶mdict=enUS Josephson, A. (2018, May 21). The Average Salary of a Millennial. Smart Asset. Retrieved from https://smartasset.com/retirement/the-average-salary-of-amillennial Kim, Y., Park, Y. J., Choi, J. & et al. (2016). The Adoption of Mobile Payment Services for “Fintech”. International Journal of Applied Engineering Research, 11(2), 1058-1061. Retrieved from https://pdfs.semanticscholar.org/2c96/8789b918883f6f189943f325b44aa69c9b9c. pdf Kotler, P.T. & Keller, K.L. (2016). Marketing Management. (15th ed.). Pearson Education, Inc. Retrieved from University of Phoenix Online eBook Database. Lingelbach, D., Patino, A. & Pitta, D.A. (2012). The Emergence of Marketing in Millennial New Ventures. Journal of Consumer Marketing. 29(2), 136-145. Retrieved from https://www-emeraldinsightcom.contentproxy.phoenix.edu/doi/full/10.1108/07363761211206384 Smith, K. (2008-2018). Apple Pay ( SWOT Diagram). Creately. Retrieved from https://creately.com/diagram/example/i87gfhpz/Apple Tanner, L., Mitchell, R. & Comeau, P (2010). Who Are the Millennials? Defence Research and Development Canada Centre for Operational Research & Analysis. PP.1-61. Retrieved from http://cradpdf.drdcrddc.gc.ca/PDFS/unc104/p534334_A1b.pdf 11 Understanding Target Markets Wright, M. R. & Ettinger, L.F. (2006). Psychographic Characteristics of the Millennial Generation: Developing A Market Segmentation for Use in the Wine Industry. University of Oregon Applied Information Management. PP.1-59. Retrieved from https://scholarsbank.uoregon.edu/xmlui/bitstream/handle/1794/7809/2006wright.pdf 1 Promotion and the Product Life Cycle Promotion and the Product Life Cycle Andrea Markiewicz MKT/571 July 23, 2018 John Schaefer 2 Promotion and the Product Life Cycle Promotion and the Product Life Cycle When a company introduces a new product or service in a market, it undergoes four distinct stages. The four steps are introduction, growth, maturity, and decline, known as a product lifecycle. Just like any other product, the Apple Pay Service will undergo this sequence of stages. Promotional efforts and marketing strategies are affected by these stages. Each step comes with some changes in the marketing position of a product. Different marketing strategies are used for each stage to prolong the product lifecycle. Stages of the Product Lifecycle New Product Introduction (NPI)-This stage is where a new product or service is made available in the market or distributed for the first time (Anderson & Zeithaml, 1984). The primary focus of this stage is to create a trail and awareness of a product or service. At this stage, Apple must select a launch strategy that aligns with the planned product positioning. It should use cost-plus pricing to recover the incurred costs (Guerreiro, Cornachione & Kassai, 2012). The company should also do selective distribution at first and focus on the major distributors. Heavy advertising and sales promotion are essential at this stage. Product Growth Stage- At this stage, the product's sales begin to climb swiftly. In the case of Apple Pay Service, this is the stage when the use of the service starts to increase promptly. This process is the period when the company should focus on maximizing its share of the market. Apple should focus on improving the features of the Apple Pay Service and should also continue to promote the service to ensure increased profits. 3 Promotion and the Product Life Cycle Product Maturity Stage-For this stage, the growth of the product’s sales starts to slow down when the market becomes saturated. The company’s goal should be to defend its share of the market and to increase profit (Guerreiro, Cornachione & Kassai, 2012). To attain this, Apple should modify the service features, the marketing mix, and the market. It should also rely on promotion and advertisement. Product Decline Stage-When it comes to a stage of decline for a product, this is where a product’s reduction in sales will result in loss of a profit (Kotler & Keller, 2016). Apple will have to consider multiple or new distribution channels and improve upon there innovation, technology, and quality of the Apple Pay Service feature to compete with there opponents in the mobile phone industry, such as Samsung. Apple's activities in their service feature product, distribution, and pricing will still proceed forward; however, promotional areas will continue to chase a gain of the market share and tender incentives. Metrics to Measure Efficiency of Marketing Activities Some metrics that Apple can use to measure the success or failure of the marketing activities include acceleration and pipeline growth, marketing contribution to the company’s revenue, and brand awareness. In considering the acceleration and pipeline growth, Apple will get answers to the following questions: How do the marketing activities assist the growth and acceleration of the pipeline? How does the growth change from one period to the other? Also, it is always good to pay attention to growth and acceleration because they go hand in hand for better results (Martin & Towill, 2002). 4 Promotion and the Product Life Cycle Marketing contributions toward revenue can be used by Apple to evaluate the percentage of the total company revenue. If the number is found to be higher, then the initiative will be more effective. When the percentage of the total Apple revenue is higher, then the Apple Pay Service is more effective as well. Likewise, understanding brand awareness is vital for Apple Pay Services because the company has a longer sales cycle and generally, buyers do more research before getting information from the company (Akkucuk & Esmaeili, 2016). Usually, the effects of brand awareness are long-term but not the short-term. Effective marketing activities should lead to increased revenue for the company, should lead to new prospects and keep the leads moving, plus should boost the company's brand awareness (Lovelock, Patterson & Wirtz, 2015). Media Methods Media methods are in terms of a strategy that enables a company to highlight its product or service. Today’s companies have a wide range of media methods to choose from. For Apple’s print method strategy, they can use billboards to highlight the latest Apple products. Billboards will enable the company to reach out to customers on the move. The billboard design can showcase their innovative Apple products that includes the pay service feature used out in stores without expressing too much dialogue that is simple and to the point. For Apple’s non-print media strategy, they can utilize television to reach its customers. Through television advertisements, it will reach many customers since many individuals own and watch TV. Apple’s television campaign can showcase the unique and straightforward benefits of what a user gets when using their Apple Pay Service feature out in the market. The 5 Promotion and the Product Life Cycle campaign will also correspond to Apple shopper’s interests, for example, using the Apple Pay Service feature to purchase an Apple product at one of their retail stores. Elements of Product and Promotion Apple can drive the use of Apple Pay Service by promoting the service’s benefits to potential users. The company can use a promotional mix to reach potential customers. Some elements of a promotional mix that Apple will use are advertising execution, direct marketing, and public relation strategies as discussed in detail below: Advertising Execution- Advertising is a paid means of media communication through which a company communicates to the users of a service or product (Lovelock, Patterson & Wirtz, 2015). It includes newspapers, magazines, television announcements, trade journals, billboards, and radio announcements among others. It is nonpersonal, and Apple can utilize both billboard and television advertising when it comes to showcasing how their Apple Pay Service feature is beneficial for a user's shopping interests on the go, especially when purchasing Apple products. Direct Marketing- Direct marketing is an advertising form that is targeted directly to the potential customers. Marketing materials which are physical like letters, catalogs, and coupon mailers are provided to the customers. These physical materials provide information to the consumers about services and products. Apple can use direct marketing to promote the Apple Pay Service feature that is part of their smartphone products, like the iPhones. 6 Promotion and the Product Life Cycle Public Relation Strategies- Public relation strategies refer to the activities used by companies to generate publicity, to foster goodwill, and to create a positive image of a company (Nour, Almahirah, Said & et al., 2014). This process gets done through hosting and sponsoring special events and charitable campaigns. It is an element of the promotional mix that Apple can use to create awareness and create a positive image with the intention of increasing the use of the Apple Pay Service. Conclusion The Apple Pay Service will undergo a sequence of product lifecycle stages. Each stage has its challenges and opportunities. For Apple Pay Service to succeed in the market, the company needs to set strategies for each stage to prolong the lifecycle of the service. The efficiency of the marketing activities should be measured from time to time to ensure the set strategies are working towards the achievement of the set goals. A promotional mix can be used to reach the distribution channels and customers to enhance the use of the application. 7 Promotion and the Product Life Cycle References Akkucuk, U., & Esmaeili, J. (2016). The Impact of Brands on Consumer Buying Behavior: An Empirical Study on Smartphone Buyers. International Journal of Research in Business and Social Science, 5(4), 1-16. Retrieved from https://search-proquest-com.contentproxy.phoenix.edu/docview/1833924330?pqorigsite=summon&accountid=35812 Anderson, C. R., & Zeithaml, C. P. (1984). Stage of the Product Life Cycle, Business Strategy, and Business Performance. Academy of Management Journal (Pre1986), 27(1), 5. Retrieved from https://search-proquestcom.contentproxy.phoenix.edu/docview/229540145/fulltextPDF/5C9FA6979A96 4BD8PQ/1?accountid=35812 Guerreiro, R., Cornachione, E. B., & Kassai, C. R. (2012). Determining the 'Plus' In CostPlus Pricing: A Time-Based Management Approach. Journal of Applied Management Accounting Research, 10(1), 1-15. Retrieved from https://searchproquest-com.contentproxy.phoenix.edu/docview/1034602168?pqorigsite=summon&accountid=35812 Kotler, P.T. & Keller, K.L. (2016). Marketing Management (15 th ed.). Pearson Education, Inc. Retrieved from University of Phoenix Online eBook Database. 8 Promotion and the Product Life Cycle Lovelock, C.H., Patterson, P. & Wirtz, J. (2015). Services Marketing (6 th ed.), 1-498. Pearson Australia. Retrieved from https://books.google.co.ke/books?hl=en&lr=&id=BqyaBQAAQBAJ&oi=fnd &pg=PP1&dq=Lovelock,+C.,+%26+Patterson,+P.+(2015).+Services+marketi ng.+Pearson+Australia&ots=eIvOLLCXJe&sig=2upc5XXlKiTH7r0u6nYPtj3 4mDc&redir_esc=y#v=onepage&q=Lovelock%2C%20C.%2C%20%26%20Pa tterson%2C%20P.%20(2015).%20Services%20marketing.%20Pearson%20Au stralia&f=false Martin Christopher, Denis R. Towill, (2002) "Developing Market Specific Supply Chain Strategies", The International Journal of Logistics Management, Vol. 13 Issue: 1, pp.1-14. Retrieved from https://www-emeraldinsightcom.contentproxy.phoenix.edu/doi/pdfplus/10.1108/09574090210806324 Nour, M.I., Almahirah, M.S., Said, S.M. & et al. (2014). The Impact of Promotional Mix Elements on Consumers Purchasing Decisions. International Business and Management. 8(2), 143-151. Retrieved from http://www.cscanada.net/index.php/ibm/article/view/4800/pdf_54 1 Price and Channel Strategy Price and Channel Strategy Andrea Markiewicz MKT/571 July 30, 2018 John Schaefer 2 Price and Channel Strategy Price and Channel Strategy The Apple Pay Service is engineered to help clients to make various payments at their comfort zones. It is user-friendly and assists in the elimination of intermediaries whose services are often costly for most clients (Apple Inc., 2018). The commodity is in the introductory level of its life cycle and is still being used locally in the United States. Through an active promotion, distribution, and pricing strategy, it will be able to spread globally and command a more significant proportion of the market. This report outlines some of the pricing and distribution strategies that can be used by Apple Corporation to ensure that the product attracts the kind of profitability it should draw. There is a direct interrelation between the distribution channel chosen by a business and the price setting. A distribution channel consists of many intermediaries that usually results in a company realizing lower profits from its sales. However, if the intermediaries get removed through direct sales, a business will always maximize their earnings and even have the capacity to supply the products and services at a reduced price that is affordable to the clients (Jinhoo, Bojanic & Warnick, 2008). For Apple’s case, the distribution channel is a direct one and involves no intermediaries since it is the company selling the services directly to clients who buy their phones. Therefore, the focus should be on the price settings and the distribution strategy. Distribution Strategy Since the product is in its introductory stage in the life cycle, it should first focus on local distribution before considering expanding its wings globally. The higher proportion of the market is composed of millennials, individuals born between the 1980s and the 1990s with 3 Price and Channel Strategy some in the 2000s. This is an information-hungry generation that prefers efficiency over anything else. The use of mobile phones has become quite popular in this generation, and almost everyone owns a mobile phone. Every mobile phone bought in the United States should contain the Apple Pay Service application. Through the marketing strategy involving the marketing mix, awareness will get created so that the clients know how to use the service and how helpful it can be (Flavián & Guinalíu, 2005). Once the product has been launched successfully in the domestic market, it will now be time to spread globally. This process will need effective advertisement and promotion. Apple's distribution channels will primarily work in distributing this product. However, the use of online distribution services like Amazon and Alibaba will help the product to reach out to other parts of the world (CB Insights, 2018). Apple can utilize the services of these distributors to supply the mobile phones which contain the Apple Pay Service. Many people will, therefore, get access to these services. Exclusive Distribution Channel For this service to reach the intended customers all over the world, the distribution channel should be one that can reach the customers wherever they are. An exclusive distribution channel involves assigning the distribution services to trusted retailers or distribution outlets (Li & Dant, 1997). This activity will be those who sell apple mobile phones. This process requires that the service accepts internationally recognized payment methods that are well known. The service can be engineered to meet the specific payment needs in different countries or regions. It can incorporate local payment methods that are not popular globally. An example is M-PESA 4 Price and Channel Strategy which gets used in most countries in the East African region. This will make it convenient for individuals in this region to use those services (Vodafone Group Services Limited, 2017). Dynamic Pricing Strategies The pricing for this service will involve the charges the users will incur when making payments using the Apple Pay Service. The best marketing strategy to use is a dynamic strategy which can change depending on the prevailing market conditions. Customarily, the different marketing strategies available are generally used to achieve various aims. One is defending the existing market which requires a business to maintain standard pricing that keeps the current market (Ellickson, Misra & Nair, 2012). However, the Apple Pay Service is a new product that is just making its way into the market. This means more than one pricing strategy will have to get used so that it achieves the intended profitability by making it reasonably affordable to the customers (Ellickson, Misra & Nair, 2012). Some of the factors that must get considered when choosing a marketing strategy include the level of competition that exists in the market. Competition is one of the threats that the company will face according to a SWOT analysis. Overcoming the competition will involve identifying the pricing strategies that competitors such as Google are using so that the application can gain a comparative advantage over the other companies. In the beginning, the prices should be at least lower than the prevailing market prices (MaRS Discovery District, 2014). Conclusion The Apple Pay Service is still in the introduction stage of product development. The distribution is even localized, hence, the strategy applied is not that complex. Once it scales its 5 Price and Channel Strategy operations, it will be essential for the distribution channels to be scaled up. Finally, the pricing strategy should be a flexible one that can accommodate any potential changes that might arise from the market dynamics. 6 Price and Channel Strategy References Apple Inc. (2018). About Apple Pay. Retrieved from https://support.apple.com/enus/HT201469 CB Insights. (2018). Amazon and Alibaba Have Already Conquered Online Retail. Now They’re Coming For Offline. Retrieved from https://www.cbinsights.com/research/amazon-alibaba-physical-retail/ Ellickson, P. B., Misra, S., & Nair, H. S. (2012). Repositioning Dynamics and Pricing Strategy. Journal Of Marketing Research (JMR), 49(6), 750-772. Retrieved from http://el2ne5ae7f.search.serialssolutions.com/?ctx_ver=Z39.882004&ctx_enc=info%3Aofi%2Fenc%3AUTF8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Ao fi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Repositionin g+Dynamics+and+Pricing+Strategy&rft.jtitle=Journal+of+Marketing+Research& rft.au=Ellickson%2C+Paul+B&rft.au=Misra%2C+Sanjog&rft.au=Nair%2C+Hari kesh+S&rft.date=2012-12-01&rft.issn=0022-2437&rft.eissn=15477193&rft.volume=49&rft.issue=6&rft.spage=750&rft.epage=772&rft_id=info:doi /10.1509%2Fjmr.11.0068&rft.externalDBID=n%2Fa&rft.externalDocID=10_150 9_jmr_11_0068¶mdict=en-US Flavián, C. & Guinalíu, M. (2005). The Influence of Virtual Communities on Distribution Strategies In the Internet. International Journal of Retail & Distribution Management, Vol. 33 Issue: 6, pp.405-425. Retrieved from 7 Price and Channel Strategy https://www-emeraldinsightcom.contentproxy.phoenix.edu/doi/full/10.1108/09590550510600843 Jinhoo, K., Bojanic, D.C. & Warnick, R.B. (2008). Price Bundling and Travel Product Pricing Practices Used by Online Channels of Distribution. Journal of Travel Research. 47(4), pp.403-412. Retrieved from http://journals.sagepub.com.contentproxy.phoenix.edu/doi/pdf/10.1177/00472875 08328658 Li, Z. G., & Dant, R. P. (1997). An exploratory study of exclusive dealing in channel relationships. Journal of the Academy of Marketing Science, 25(3), 201-213. Retrieved from https://search-proquestcom.contentproxy.phoenix.edu/docview/224863804?pqorigsite=summon&accountid=35812 MaRS Discovery District. (2014). The Marketing Mix In Marketing Strategy: Product, Price, Place and Promotion. Retrieved from https://www.marsdd.com/marslibrary/the-marketing-mix-in-marketing-strategy-product-price-place-andpromotion/ Vodafone Group Services Limited. (2017) M-Pesa The World’s Most Successful Money Transfer Service. Retrieved from https://www.vodafone.com/content/index/what/m-pesa.html
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RUNNING HEAD: MARKETING STRATEGY

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MARKETING STRATEGY
Student’s Name
Professor’s Name
Course Title
Date

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MARKETING STRATEGY
Samsung’s Marketing Strategy
Introduction
Samsung over the years has evolved to become a part of the world’s best-selling
companies. Currently it only rivals Apple in the industry especially when it comes to the phone
industry. The company is very innovative and is always coming up with new and exciting
branding mechanisms. Over the past decade the company has been releasing the Galaxy series

and put in place a branding system to boot the sales of the company. This paper seeks to analyze
in an in-depth manner the communication and branding strategy of the company regarding its
best products currently doing well in the market.
Situational Analysis
Mission Statement
Samsung is committed to inspiring its communities through taking advantage of its
strengths, creativity, innovative products and progressive technology as they continue to endorse
new values for the company’s core networks.
Vision Statement
Samsung’s vision statement is to create a better world full of richer digital experiences
through innovative technology and products. The company also looks f...


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