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. Where iTunes, Apple Pay, app store and iTunes store are used by the age range 18-30. So why wait? Apple has a legendary focus on the customer … Necessary cookies are absolutely essential for the website to function properly. To be the Best Source of Business Strategy & Analysis. Apple segmentation, targeting and positioning represents the core of its marketing efforts. Apple Inc applies the strategy of studying the market and then targeting specific user experiences. How to increase brand awareness through consistency; Dec. 11, 2020. https://brandongaille.com/18-apple-target-market-demographics/#:~:text=The%20Trends%20of%20Apple’s%20Target,in%20the%20next%206%20months. Apple Inc.'s target market is customers with unique needs when it comes to the purchase of electronic gadgets. 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. I am a contributor to the Strategy Watch. Because the switchers often get influenced by the loyalists and buy their first iPhones. What is Apple's target market? Apple's Target Market Analysis 1625 Words7 Pages Segmentation, Targeting and positioning, also known as STP are an essential part in marketing today. There are also man y … The company has its next-generation stores in 25 countries, including Brussel, Dubai, China, London, New York, San Francisco, etc. Hardcore Loyalists: this category of the market is specified as loyal customers. 43 Wall Street analysts have issued ratings and price targets for Apple in the last 12 months. Regardless of your industry, product or service, there are a few things to be learned from Apple’s marketing. Apple is said to be one of the most unique marketers today by Forbes.com. Apple Inc. is the highest revenue grossing company in the world. What Are The Pros And Cons Of Starting A Freezone Company In UAE? Apple has a wide range of products. What a beautiful business model. Their products are of different demand segments. The high price target for AAPL is $160.00 and the low price target for AAPL is $60.00. Hey Guys! Apple reported its first quarter financial results for the fiscal year after the market close on Tuesday, January 28, 2020. Primary customer targets is the middle-upper income professional to coordinate their busy schedules and communicate with colleagues, friends and family. There are other companies who design products that are innovative and intellectually advanced, in order to create a brand. This category only includes cookies that ensures basic functionalities and security features of the website. These consumers love new gadgets and technology and some of these could be loyal to the Apple brand as well. But now it has 1.5 billion active users around the world. From its target marketing, research, and product design, Apple is a much more focused company than Samsung. There are two types of market segmentation. Grab that must-have cell phone along with the right accessories, and get ready to explore the endless possibilities of the … These unique users are loyal to iPhone, and may not easily be attracted by other companies, me among these users. These cookies do not store any personal information. But with different products, the age dimension varies. The target market for the iPhone is mostly youths and working professionals in the age of 18-35 who are brand and style conscious. 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 solitude age group is 22-55. iMessage, iMovie, iTunes and so on. but the true genius is in connecting everyone's bank balance and online store in their pocket. Apple reported its first quarter financial results for the fiscal year after the market close on Tuesday, January 28, 2020. So, what does Apple’s target market look like? But opting out of some of these cookies may have an effect on your browsing experience. We also use third-party cookies that help us analyze and understand how you use this website. And finally, the apple watch, tv apple and accessories users are from 20-45+ age. We'll assume you're ok with this, but you can opt-out if you wish. The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Apple competitors and includes Apple target market, segmentation, positioning & Unique Selling Proposition (USP). And the average individual income of a user stands to be around $98,000, which is much higher than usual device owner demographics. Most of the Apple’s users are highly educated millennial. Let’s find out. College students are one of the primary target demographics for Apple as they typically have more disposable income and a need for the technology. 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. Their strong e-commerce base has made that possible. But the male user count rapidly grew and Soon it became almost 2:1. Marketing strategy of Apple iPhone nice & differentiated targeting strategies to be a top player in the smartphone market despite having expensive products. Despite its efforts at branching out, the American continents remain the most important markets for Apple's products. A study showed that 1 in 4 new buyers buy an iPhone because their friends use it. Apple Inc understands the need for market segmentation and thus operates in different market segments. So, the apple users get addicted to the product working style. Some of these reasons are to socialize with friends, listen to music and go on Facebook, MSN, twitter etc. What Is the Target Market for Apple Inc.. Top 10 blogs in 2020 for remote teaching and learning; Dec. 11, 2020 Dec. 15, 2020. The users are offered an operating that is unique, creative and stands out. Teenagers are considered one of Apple Inc.'s target markets. 80% of the active devices are iPhones and iPads. How to Grind Coffee Beans And Store At home? 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. 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. 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. Another target the professionals or even teenagers who are targeted for Apple Iphone, Tablets, Macbook and other such gadgets which can be used by anyone, irrespective of age. Apple targets the market with medium to high-income households or individuals. https://www.statista.com/statistics/203060/iphone-users-in-the-united-states-by-gender/, https://apple.fandom.com/wiki/List_of_Apple_products, https://9to5mac.com/2020/01/28/apple-hits-1-5-billion-active-devices-with-80-of-recent-iphones-and-ipads-running-ios-13/amp/, https://www.celebritynetworth.com/richest-businessmen/companies/apple-net-worth/, Economic Factors of PESTLE Analysis Affecting Business Organization. A good customer experience requires that a company utilizes the best of the product developed. 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 while you navigate through the website. As of 2020, Apple is one of the leading brands in the IT & Technology sector. Apple has a well-defined target market focusing on consumer life time value (Kotler & Keller, 2006). Shop Target for Apples Fresh Fruit you will love at great low prices. In business, there are those who design products simply to make money. Let’s look at Apple’s market analysis. I have finished my graduation with a major in Economics. The male-female user ratio was close to 1:1 (53/48). It is also a much more profitable company. The U.S. Supreme Court: Who Are the Nine Justices on the Bench Today? Apple Inc. is perceived to defy the law of marketing and employ a rather unique marketing strategy where the company’s products are made to suit different end users’ specifications. 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. ... as we maintain our target of reaching a net cash neutral … Apple follows blue ocean strategy to distinguish & differentiate itself from other smartphone players in the market. They are career-oriented and lead an active social life. It’s tempting to drop lots of cash on PPC ads … Differentiate the iPhone from other PDA’s on the market. This group is conveniently a market for the company. This website uses cookies to improve your experience. But nowadays the market has become very competitive and lots of smartphones … Apple is one of the most valuable … 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. NOAA Hurricane Forecast Maps Are Often Misinterpreted — Here's How to Read Them. You also have the option to opt-out of these cookies. Choose from contactless Same Day Delivery, Drive Up and more. So, the target market is expanding in the male market spontaneously. Teenagers use iPods for many reasons. A study showed that ⅓ of the users have a household earning of $100,000. Create an Experience Ecosystem. 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. Best Way to Sharpen a Chainsaw Step by Step. Blog. Therefore, the loyal customer base is also a very crucial market for the company. Apple’s Target TV Market Apple’s original charter for TV+ was high-quality, potentially award winning, original content story telling. 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. Apple Inc.'s target market is customers with unique needs when it comes to the purchase of electronic gadgets. The company then builds a product around the experience accordingly. 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. Build compatible experiences. The central idea of the golden circle theory is, people do not buy what a company does, people buy why they do it. 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. Afterwards, the company went on to develop the iPhone despite the fact that the two products both play music. Each week, John Casmon speaks with multifamily apartment investors and marketing specialists to talk about emerging markets, mar… And their different approach in different regions helps to gather more and more customers. 54% of Apple users buy nothing but Apple products in the future. Such as the smart, compact devices are more used by people of the 20-45 age group. A COVID-19 Prophecy: Did Nostradamus Have a Prediction About This Apocalyptic Year? Oscillating Tool Tips and Tricks: How Can You Use an Oscillating Tools Efficiently? Common Diversity Practices in Apple Inc Workforce, US Health Care Industry Overview and Career Outlook. So, it is not just maintaining regular customers; it’s also about getting new ones for the company. 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. 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. It has come a long way since then and is now one of the worlds leading electronic companies. They have over 1.5billion users and their market is expanding with their every year product release. There are many reasons why Apple … Apple’s marketing is so effective, in fact, that it has become a benchmark for other companies who want to achieve the same global popularity, revenue growth and staying power. The initial Apple Company’s goal was to achieve a 1% share of the market in two years and to grow it to 10% in 5yrs (Apple.com, 2011). For Apple, the prices are used to reflect high innovative, quality, and sophisticated products. Rethink the Need for Advertising. Image Credit: Justin Sullivan/Getty Images News/Getty Images Apple Inc. is one of the most valuable technology companies in the world, and though the company doesn't discuss its target market for its computer products publicly, studies consistently show that Apple is a premium-priced brand, tending to target people … ‎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. Apple is marketing to people who have a few characteristics. Most people think the i device is revolutionary just because of its design (it is!) So, the target market of Apple Inc, is undoubtedly conserved in close to standard to high payroll individuals. Students, executives, managers, professionals are the primary target market of Apple Inc. 64% of Apple product users tend to have college degrees. CEO Compensation and America's Growing Economic Divide. 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 … 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. To help them in this process, they need to analyse and break down the different markets into segmentation categories. Their average twelve-month price target is $117.26, predicting that the stock has a possible downside of 13.06%. 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. This model is important for generating marketing communication strategies and it aids the marketers to prioritize schemes and deliver personalized and pertinent messages … 1) Middle/Upper income folks who are willing to pay a bit more for a better user experience. People who are consumers, who are affluent enough to make purchases. Till 2011, the very product market was not gender-dominated. My name is Richard Andrew. However, Apple does things differently. It was founded by Steve Jobs, Ronald Wayne, Steve Wozniak, as a computer manufacturing company. My interest areas are Economics, Financial Analysis, Stock Analysis, and Business Strategy. How to Select the Best Reciprocating Saw Blades? This strategy is derived from the perception that if Apple does not introduce a competing product, another company is bound to do so. Apple Inc. is perceived to defy the law of marketing and employ a rather unique marketing strategy where the company’s products are made to suit different end users’ specifications. A perfect example is when Apple introduced the iPod. 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. They offer innovation, creativity and premium technology to all users. This implies that Apple's customers spread across the demographic, social and economic factors that influence consumption. Simon Sinek’s Golden Circle theory of how successful organizations communicate describes why Apple’s marketing communication resonates with its target audience. This target market is not a specific segment, but unique users from different segments. and there are software services as well like iCloud, iLife. Explanation: The major target consumers include the young … 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. Current hardware products are AirPods, Apple TV, Apple Watch, iMac, iPad, iPhone, MacBook etc. Customers want a streamlined, intuitive way to … Students, executives, managers, professionals are the primary target market of Apple Inc. 64% of Apple product users tend to have college degrees. The current male to female user rate is 60.8% and 39.2%. Apple iphone Target Market. 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. In that sense, the most interesting characteristic about Apple Inc. is that it introduces products to compete with themselves. 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. Their success journey is inspiring and their market is still expanding. 30% of the cellphone market would claim the iPhone as the best phone. Apple's brand is very much that of a … they have markets in fast-track city life. It is mandatory to procure user consent prior to running these cookies on your website. A trillion dollars’ worth company, Apple Inc started its journey in Cupertino, California, on April 1, 1976. These cookies will be stored in your browser only with your consent. but they have made app stores as in apple products available in 155 countries. So, their products also determine their target market. Let’s begin the journey with Apple products and target market analyses.