Order Assignments Now Get Upto 50% Off Get UPTO 50% OFF With Our Black Friday + Cyber Monday Offer. Coupon Code: BFCM22 Order Now
Search
Listening..

Principles of Marketing Mix in Apple Watch Series and Fitbit

University: Bucks New University

  • Unit No: 5
  • Level: High school
  • Pages: 7 / Words 1678
  • Paper Type: Assignment
  • Course Code: MG412
  • Downloads: 74
Question :

This assessment will cover following questions:

  • In context to the given company or brand, identify the effectiveness of marketing mix ion Apple Watch4 and Fitbit2
  • Explain the STP marketing planning process.
Answer :
Organization Selected : Apple and Fitbit

INTRODUCTION

An effective marketing strategy is very important to make a difference between a product selling or being ignored by the consumers. To be successful marketing leaders utilize marketing principles as the business strategies. The aim of this report is to analyse how the marketing principles have been applied by the well-known brands, Apple Watch Series 4 and Fitbit2. Apple Watch Series 4 and Fitbit2 are the smart watches designed and sold by Apple and Fitbit. It has been incorporated fitness tracking and health oriented capabilities while Apple watch is also integrated with iOS and other apple products and services. Apple watch has a market share of 47.9% whereas Fitbit watch has a market share of 11.3% worldwide in 2019. Also, the sales trend shows the fluctuations for both the brands, Apple has a sales of 6.8 million units while Fitbit has 1.6 million units in Q3 2019. This report shows the comparative analysis of these two brands based on its target market and 4Ps of marketing, how each is successful in implementation of 4Ps and how each brand can improve it to achieve more success.

FINDINGS

Comparison of target markets

The target market for Apple watch series 4 is the Apple fans and power users, it has several features which may interest business professionals as well (Misof and Schwarz, 2017). It is designed for everyone above 18, who wants to show off, are health conscious, to be multi tasking etc. Its price is approx. £399 which means its target audience is middle and upper income class people. Whereas Fitbit 2 is only for the people who want to be healthy and fit. Its current consumers are between the age of 18-34 years. Its price is near to £149.99 which means it has targeted lower and middle income group.

Product

In this Levitt model of brand has been used to analyse the these two brands. It is method used to structure the product portfolio to target the customers. It has five product levels, first is core benefits, it refers to the fundamental needs and wants that consumers want to satisfy through that product or services (Mandarić and Sekulić, 2018). Apple watch is operates on apple watch OS5 operating system, with enhanced fitness and health tracking features and other apple product and services. It also has electrocardiogram (ECG) which can read the heart activity. Whereas in Fitbit 2, it only takes care of the health and fitness and monitors heart but does not offer electrocardiogram. Second is generic products, it refers to the attributes required or necessary for it to function. In Apple watch, it is the fitness which can be satisfied with the other low end apple products and in case of Fitbit the same applies, some other previous version can be used to satisfy the same need (Apple Watch Series 4 v Fitbit Versa: Comparing two of the best smartwatches. 2019). Third is expected product, it refers to the characteristics that a customer expects and agree to while purchasing. Battery life is the area where Fitbit beats Apple Watch 4 as Fitbit has promises 5+ days of battery life whereas Apple Watch 4 only promises up to 18 hours. Forth is augmented product, it refers to the additional features and benefits that can differentiate the product from its competitors. Apple watch has multiple features that sets it apart from its competitors. Fitbit 2 comes in only one size 40 mm while Apple watch come with a two size of 40 mm and 44 mm. Straps of Fitbit 2 come with silicon or woven, while Apple watch come with a sport, leather or stainless steel straps. Another point of difference is that Apple watch 4 comes with a digital crown while Fitbit comes with a standard button. The last is potential product, it refers to all the future transformation a product may go through. In both the brands, free software upgrades with new and useful features.

Want to Hire Expert Writers? Writing different academic papers can get puzzling at times. Reach out to the best writers of Global Assignment Help and ask for assistance with all types of essays, assignments, reports & more! Order Now

With reference to the Aasker's brand of personality is a framework defined on the sets of human characteristics associated with the brand (Toldos-Romero and Orozco-Gómez, 2015). It has 5 core dimensions i.e., sincerity, Excitement, competence, sophistication, and ruggedness. Based on this Apple watch can be ranked as exciting, competence and sophistication as it is imaginative, up to date, reliable, and intelligent, successful, charming and upper class. Whereas Fitbit can be ranked on sincerity and competence as it is down to earth, honest, wholesome, cheerful, reliable and successful.

Price

Brand Pricing Research
Apple Watch Series 4 Apple set the prices of its products higher to build a luxury brand. Every firm knows that a higher price is essential to create a desire for something unique in the customers. Price of apple watch is no doubt higher than the similar product but it has confidence in it loyal customers.
Fitbit 2 Fitbit sets its prices in such away to boost the customer loyalty and sentiments. Even if it can charge higher price, it decides to set price based on customer interest and what the customer is willing to pay.

Conclusion: Therefore, Apple is using piece skimming method to price its products but it follows it at the initial stage of introduction for its products. Fitbit is using value based pricing policy, where company can set prices of its products based on its customers willingness to pay.

Place

Apple is global company having its watch is easily available in different countries like India, Canada, UK, South Africa, Indonesia etc. (Marom and Sade, 2016). Apple has its owned company location and third party to distribute its products. It has a strong distribution network which helps in making its products available to the customers. Apple has its own outlets and boutiques tie-up for proper distribution (ROBERTA GREENSPAN, 2019). It stocks its products based on the demand at different location because it is luxury brand with limited demand. Fitbit also a worldwide presence. It sells its products through its online website and through retailers (Rogerson James, 2019). It follows an intensive marketing strategy where it tries provide its products to as many retailers as possible. It has also partnered with several delivery service providers to provide timely deliveries.

Students Also Like to Read About : Marketing Strategy of AirPods 2- Apple

Promotion

Apple has been promoting its products through television, print media and social networking sites like Facebook, Instagram etc. It extensively advertised in Vogue magazine, focussing on band style and body combinations with a 12-page spread (Salo, 2019). Positioning its new features and luxury attached with it in the mind of the consumers. This how it has created its brand image. Apple keeps on highlighting its features in every campaign which induce consumers to have a desire for the product (Gupta, 2017). Fitbit on the other hand, has relied on television and social media advertising, highlighting the health benefit features to its customers by increasing health awareness. It also undergoes several sales promotion by taking a part in various trade exhibition, contests and events. It has over one hundred thousand likes or followers which are exposed to frequent Fitbit content.

CONCLUSION

From the above analysis it can be concluded that Apple has done far better utilization of 4Ps of marketing mix as compared to Fitbit. Apple watch series 4, has various features which can be beneficial to an individual as it almost replace mobile phones. Apple should try attract other consumers by coming up with offers and discounts. Fitbit has to be clear in setting its target segment and its requirement. Fitbit needs to be innovative to face the competitors and meet the challenges and consumer demand and preferences.

Related Services : Research Paper Writing Help

RECOMMENDATIONS

APPLE WATCH SERIES 4

  • It should come up with products which can target lower income group which can expand its business along with an aim of bringing luxury to everyone.
  • It should offer discounts and other benefits to its customers when it over its prices for a short period.
  • It should endorse its products through celebrities which will increase the acceptance of the product by consumers which will help in making it luxury product.
  • It should increase its sells through large retailers which can attract large consumers which in turn increase its sales.

Fitbit

  • It needs to come-up with a plan to attract more consumers by working on the needs and preferences.
  • It should start collecting customer data and send them messages through email and SMS which will help in repeat purchase by customers.
  • It should open retail stores where it can offer all its products which would save cost as wholesalers and retailer margins would be removed.
  • It should increase the use of digital marketing techniques to improve online traffic on its website.
  • It should also undergo training for its sales force and customer service which plays a vital role in delivering value to customers and provide incentives to the employees on the basis of the performance.

REFERENCES

  • Marom, D. and Sade, O., 2016. Angel-Crowdfunding Wearable Technology.
  • Misof, G. and Schwarz, M., 2017. Innovative Brand Management . Wiesbaden: Springer specialist media Wiesbaden.
  • Salo, M. O. I., 2019. Selling and marketing music through digital platforms as an independent musician.
  • Silva, D. N. P., Cardoso, A. and Basto, M., Study on the evaluation of the internal value of the brand Estudo sobre a avaliação do valor interno da marca.
  • Toldos-Romero, M. D. L. P. and Orozco-Gómez, M. M., 2015. Brand personality and purchase intention. European Business Review. 27(5). pp.462-476.
Download Full Sample
Cite This Work To export references to this Sample, select the desired referencing style below:
Global Assignment Help.(2022) Principles of Marketing Mix in Apple Watch Series and Fitbit Retrieved from: https://www.globalassignmenthelp.com/free-samples/marketing/mg412-principles-of-marketing-mix-in-apple-watch-series-and-fitbit
Copy to Clipboard
Principles of Marketing Mix in Apple Watch Series and Fitbit Global Assignment Help ,(2022),https://www.globalassignmenthelp.com/free-samples/marketing/mg412-principles-of-marketing-mix-in-apple-watch-series-and-fitbit
Copy to Clipboard
Global Assignment Help (2022) Principles of Marketing Mix in Apple Watch Series and Fitbit[Online]. Retrieved from: https://www.globalassignmenthelp.com/free-samples/marketing/mg412-principles-of-marketing-mix-in-apple-watch-series-and-fitbit
Copy to Clipboard
Global Assignment Help Principles of Marketing Mix in Apple Watch Series and Fitbit. (Global Assignment Help, 2022) https://www.globalassignmenthelp.com/free-samples/marketing/mg412-principles-of-marketing-mix-in-apple-watch-series-and-fitbit
Copy to Clipboard
Global Assignment Help Principles of Marketing Mix in Apple Watch Series and Fitbit. [Internet]. Global Assignment Help.(2022), Retrieved from: https://www.globalassignmenthelp.com/free-samples/marketing/mg412-principles-of-marketing-mix-in-apple-watch-series-and-fitbit
Copy to Clipboard
Often times, students feel unable to work on assignments and think, “Who will do my assignment?” By providing "Sample" on various subjects, we are trying to help them understand all the intricacies of writing. We have the most qualified and skilled assignment writers who can provide the best assignment writing services, essay writing services, dissertation writing services, and more at the most affordable rates. Place your order now for surprising discounts.
Boost Grades & Leave Stress

Share Your Requirements Now for Customized Solutions.

Lowest Price
USD 7.13

Delivered on-time or your money back

100+ Qualified Writers

For Best Marketing Assignment Help

View All Writers
FREE Tools

To Make Your Work Original

  • tools Paraphrasing Tool

    Easy to Use Paraphrasing Tool to Simplify Complex Academic Writing

    Check Paraphrasing
  • tools Plagiarism Checker

    Check your work against plagiarism & get a free Plagiarism report!

    Check Plagiarism
  • tools Reference Generator

    Get citations & references in your document in the desired style!

    Generate References
  • tools Grammar Checker Tool

    Make your content free of errors in just a few clicks for free!

    Grammar Checker
  • tools Essay Typer

    Generate plagiarism-free essays as per your topic’s requirement!

    Essay Typer
  • Dissertation Outline Generator

    Get Structured Outline by Professionals for Your Dissertation

    Check Dissertation
GAH whatsapp