Week 3 Discussion-Marketing Management
1) Discuss the segmenting, targeting and positioning of one of you favorite products/brands. How are they unique? Can you see commonalities in successful/well-liked brands? (Please write 3-4 Paragraphs).Please see below examples written by my teammates. Please use it as reference but don’t copy paste it.
2) Write Comments(1-2 Paragraphs)for below Examples written by my teammates
One product I really love is my Iphone. I would say that when Iphones first came out, they were targeting individuals with higher incomes who were willing to pay a higher price for a luxury phone that would provide them with an incredible user experience. However, over the years Iphones have become more accessible and as a result Apple has expanded their target market to include a much wider variety of users and income levels. Currently, it appears that Apple is targeting a younger demographic who seeks status by owning an Iphone, as well as the convenience of communicating with other Iphone users via Imessage and other applications offered exclusively by Apple.
Apple positions themselves at the front end of cutting edge innovation and design in order to stay ahead of the competitive market. The brand loves to appeal to making life easier for individuals who are busy. This approach appeals to the emotions of potential customers by creating a connection between a simpler life and the products offered by Apple.
Apple’s brand positioning is similar to many other successful companies in that innovation and customer experience are always at the forefront of their identity as a company. Many of the most successful companies prioritize customer experience and innovation because these are two factors that contribute greatly to how successful the company is. Innovation alone is not enough to make a company successful because if the customer experience is lacking, no one will want to buy an innovative product. Additionally, if the customer experience of a brand or product is positive, but they lack innovation, eventually another brand will take over their market share by providing a more innovative product.
Example Comments For above Example 1:
Apple has built an empire of many customers through excellent marketing, segmenting, targeting, and overall positioning of their products. I am an Android person but also have an iPhone for work. It offers many different options along with being able to sync everything as long as you use their products together. This is brilliant however, I cannot personally buy into it totally. The concept to me is great but the functionality and uniformity takes away from individual preferences and needs sometimes. Hands down, great company, but I still prefer my Android due to my needs. What are your thoughs on Apple targeting the younger generation will take away from the “luxury” appeal they originally marketed as? Will they be lowering prices or modifying the iPhones to be affordable for that price point?
Ariat boots are one of my most favorite western boot of all times. They are made to be durable, long-lasting, trendy, and most of all extremely comfortable. Growing up in the rodeo circuit and on a farm, I’ve tried many different brands of boots. They are like wearing a tennis shoe but they last so much longer. They were designed for athletes and the working class that spend a lot of time on their feet. They incorporate Advanced Torque Stability (ATS®), which supports and cushions the foot when you move and assists with reducing fatigue and assisting with better posture. Their R&D as well as positioning of these fabulous boots positioned their unique brand in front of the eyes of the consumers.
Their brand focuses primarily on customers such ranchers, farmers, rodeo athletes, equestrians, and those that need a good versatile work boot. They even outfitted the U.S. Olympic equestrian team and cowboys of the Professional Bull Riders Inc. They even branched out to stores such as Gap, an entirely different market of consumers.
Ariat uses internet and social media as well as advertising through events such as rodeos, sponsorships, and general advertising in stores such as Boot Barn and even Gap. Geographically they have positioned themselves in areas that would have a higher demand for a cowboy boot and targeted these customers to help build their brand. They emphasized the technology and comfort of the boots. They also made wanted the price point to be affordable and compatible with competitors such as Justin boots. They aligned their goals, customers need, and positioned their products effectively to reach their target markets which in turn helped the brand grow and build dedicated customers at different price points. The brand has been successful and continues to grow.
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