Use of Market Research and Marketing Strategies by Apple
Market research is used by an organization in order to analyse the demands and needs of consumers in an effective manner. For example, Apple has used this process in order to analyse the demands of the consumers and trends in the market in an effective manner. This has been helpful for the company to maintain its updated operations within the industry.
Competition in the market can be analysed by organizations in an effective manner in order to determine the levels of rivalry in the industry. The major competition of Apple in the industry are Samsung and Google. The two organizations are thereby able to provide tough levels of competition to Apple based on the products which it offers to consumers (Theludlowgroup.com 2018).
PESTL analysis is used by the organizations in order to analyse the external factors which are able to affect the operations when they enter a new market area. Apple uses PESTL framework in order to analyse different factors including, political situation, economic condition, social factors, technological factors and legal factors which affect the revenues of the company.
SWOT analysis is an important part of the marketing plan which is used by organizations in order to analyse the internal strengths and weaknesses and the external opportunities and threats which are provided by external environment. Apple has used the SWOT framework in order to analyse the internal strengths and weaknesses of the new product which had been launched by the company namely, iPhone X (Fortune.com 2018).
The current trends which exist in the industry can be analysed effectively with the help of the process of segmentation, targeting and positioning. Current trends in the smartphone industry are analysed by Apple in order to develop the products accordingly which can satisfy the needs of consumers.
Marketing ethics play a major role in the effective operations of modern organizations. Apple had faced issues based on the ways by which employees are treated by managers in the stores which is considered to be a part of marketing ethics (Hayoun and Hayoun 2018).
Market research is used by Tesco in order to analyse the customers in the UK retail industry in order to determine their demands and needs. The effective analysis of their needs is able to affect the operations of Tesco and the strategies which it applies. For example, market research has been conducted by Tesco in order to cut the costs based on packaging.
Use of Market Research and Marketing Strategies by Tesco
The retail environment in the United Kingdom is highly competitive in nature and has been able to provide effective opportunities of growth to the organizations. Tesco also faces tough competition from the major organizations like, Sainsbury’s, Aldi, Waitrose and Morrison’s. The marketing strategies which have been developed by the company are thereby based on the levels of competition (Hammett 2018).
Tesco has been expanding its operations in different countries with the help of services and products that are offered to the consumers. The organization has thereby performed analysis of the external environment with the help of PESTL framework which has helped the company in developing its position in the Asian countries like, Japan and South Korea.
SWOT framework is used by Tesco in order to analyse the internal strengths and weaknesses and opportunities and threats which are provided by the external environment. The internal environment of Tesco has been analysed with the help of SWOT framework in order to guide decisions which are made within the marketing plan (Baker 2018).
Segmentation, targeting and positioning is used by Tesco in order to determine the types of products which will be offered to the consumers. The process of experiential positioning is thereby used by Tesco in order to target the customers for beauty and health care based product range. Tesco had faced major issues based on marketing in the year 2015 which had a negative effect on its image. However, the company has been able to develop the image in an effective manner with the help of actions taken by the CFO (Cnbc.com 2018).
Market research is a process that is used by Woolworths in order to determine the marketing objectives and strategies to be implemented in the retail market of Australia. The company thereby aims at implementing fresh market research in order to offer the best quality of products to its customers.
Woolworths faces tough competition in the Australian retail market based on its major competitor Coles. The discounting wars between the two organizations are quite huge and the prices offered by Woolworths are affected by the high levels of competition (Theconversation.com 2018).
PESTL analysis is used by Woolworths in order to analyse the market in which it plans to expand with the help of its services and products. The external environment based factors are thereby analysed effectively by Woolworths with the help of PESTL framework.
SWOT framework is by Woolworths in order to analyse the internal strengths and weaknesses and opportunities and threats which are provided by retail industry. The analysis of internal environment has been helpful for Woolworths in order to develop the operations and products which are offered to the customers (Reuters.com 2018).
Use of Market Research and Marketing Strategies by Woolworths
Segmentation, targeting and positioning has been implemented by Woolworths in an effective manner in order to determine the effective customer base. The company has refreshed its positioning strategies and developed its position as the fresh food people in order to offer the best levels of services to the consumers.
Woolworths has faced major levels of issues based on the effective implementation of ethical treatment of the suppliers. The company has thereby aimed at developing the effective relationships with suppliers in order to source the best levels of products (Thenewdaily.com.au 2018).
Samsung holds the largest budget for market research and marketing procedure. They try to integrate different communities together and focuses on continuous development of new products with advanced specifications. The company considers the role of communication as superior while gathering data about market preferences.
Being competitive and practice consistent improvement is the key to sustain in 21st century business scenario. The intensity of competition is measured to identify the market trend. It helps to recognise the drawbacks or strengths of a company as compared to its competitors. Samsung has been facing immense competition from a Chinese cell phone company Huawei since last few years. However, Chinese companies follow the lead of apple or Samsung, which makes Apple its biggest rival.
PESTEL analysis helps to gain an insight of the market analyzing the external forces. An evaluation of political, economic, socio-cultural, technological, environmental and legal factors are important in terms of entering a new division of market. For a MNC like Samsung before investing a huge amount PESTEL analysis must be conducted to understand dynamic nature of market (www.samsung.com, 2018).
SWOT analysis can be directly integrated with marketing strategy of a company. The initials stand for internal Strengths and weakness of the brand according to which external market opportunity and threats will be predicted. Consistent launch of innovative electronic devices need to qualify the SWOT framework state in order to attain the targeted revenue. It helps them to identify opportunities in markets of developing countries focusing on pricing and quality.
Although, Samsung does not have their own OS they position their range of smart phones carrying high diversity (www.informationweek.com, 2018). In the case of segmentation and targeting, they have chosen multiple communities together sharing same interest on advanced gadgets at affordable price.
Samsung strictly maintains ethical guidelines of practicing business. Ethics management is a part of their company norms and violating this framework results in elimination from company, although ensures to provide quality lifestyle to loyal employees. Unethical marketing, manipulating customers or practicing bribery is against the policy as well. While marketing they concentrate on customer satisfaction and stakeholders’ interest only.
Use of Market Research and Marketing Strategies by Samsung
Walmart has taken smart policies of conducting market research via the portal of their e-commerce website that can also be used as tool of measuring customer preferences and interest (Hirsch and Rogers, 2018). They set future strategies based on the data derived from website and innovate accordingly. Focus is to deliver variety of products keeping the cost low or offer weekly discounts (Cbsnews.com, 2018).
Considering highly competitive retail and wholesale market, the company is trying to reinventing itself by practicing differentiation in services to beat competition. Consistent experiment to increase customer satisfaction and to establish a successful e-commerce channel is the centre of business right now to sustain for several decades ahead. Walmart is investing best effort to offer better services from existing competitors like Amazon.com and The Home Depot.
PESTEL model has helped to understand the massive US economic factors and to gain positive impact in market; company has been dealing with political policies. This analysis has shown how employees are unhappy for receiving low wages, which led them to increase labour cost. This framework helped the company to identify contemporary technological trends. Therefore, they thought for launching E-commerce website. Besides, complying with environmental and legal factors are essential for sustainability.
SWOT analysis has made them realise that with such strengths of global and highly efficient supply chain, company can explore opportunities of expansion in developing countries. Along with that, they can improve practice of human resource and lifestyle quality of larger number of people. However, with such weak profit margin and imitable business model, Walmart faces high intensity of competition.
Walmart’s segmentation, targeting and positioning is one of the major parts of strategic marketing. Walmart segment the market based on traditional geographic, demographic and psychographic method. Both the domestic and international customers irrespective of gender and age are their target market. They try to attract attention of young generation the most, from a perspective of maintaining long-term relationship, having background of low or medium income.
Walmart, like other organisation takes oath of serving customers with utmost honesty and treating them with respect. The company comply with global business ethics in terms of maintaining brand image and integrity with every stakeholders.
Being a part of telecommunication industry, Telstra uses anonymised information to gain an idea of usage patterns, performance of networking channels and several behavioural aspects. This process of market research helps them to recognise customer preferences according to demographic boundaries.
Use of Market Research and Marketing Strategies by Walmart
The globalisation has become possible with the help of telecommunication industry. Undoubtedly, there are several companies, who provide media products and connectivity access. Therefore, competition is no less in Australian market as well (www.telstraglobal.com, 2018). Although, it generates higher market revenue it faces consistent completion from Asian companies located in Singapore like SingTel, Starhub and M1.
PESTEL framework is important for Telstra as both the company and customer has to comply with several privacy policies in terms of availing service. A detail analysis will generate insight about external factors of domestic and international market in case of expansion.
SWOT analysis method has adopted to understand the opportunities of international expansion in Asian countries with better focus on new service related projects as they are carrying a strong market position. Investment on latest technologies can save them from the threat of dynamic technology. High pricing strategy is a weak point of them as Australian mobile market is saturated enough.
Segmentation, targeting and positioning of Telstra has been executed following the usage pattern of customers. In order to improve customer experience it has simplified plan structure and cut down costs to make it more acceptable amongst different preferences of different demographic areas (www.forbes.com, 2018).
Ethical framework of company is integrated with corporate regulations, transparency and look after the interest of both the shareholders and stakeholders. Policies are revised periodically to comply with latest legal amendments.
References
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Cbsnews.com. (2018). Walmart and Target: A tale of two discount chains. [online] Available at: https://www.cbsnews.com/news/walmart-and-target-a-tale-of-two-discount-chains/ [Accessed 6 Oct. 2018].
Cnbc.com 2018. Tesco addressing ethical issues through action, CFO says. [online] CNBC. Available at: https://www.cnbc.com/video/2017/10/04/tesco-addressing-ethical-issues-through-action-cfo-says.html [Accessed 5 Oct. 2018].
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Hayoun, M. and Hayoun, M. 2018. Apple’s Ethics Dilemma in China. [online] Pacific Standard. Available at: https://psmag.com/economics/apples-ethics-dilemma-in-china [Accessed 5 Oct. 2018].
Hirsch, L. and Rogers, K. (2018). Walmart beats on earnings and revenues as US e-commerce push pays off. [online] CNBC. Available at: https://www.cnbc.com/2018/05/17/walmart-earnings-q1-2018.html [Accessed 6 Oct. 2018].
Informationweek.com 2018. Samsung Smartphone Strategy: Diversify Offerings, Improve Software – InformationWeek. [online] InformationWeek. Available at: https://www.informationweek.com/mobile/samsung-smartphone-strategy-diversify-offerings-improve-software-/a/d-id/1324085 [Accessed 6 Oct. 2018].
Reuters.com 2018. Australia’s Woolworths beats Coles in food sales growth for third…. [online] U.S. Available at: https://www.reuters.com/article/us-woolworths-results/australias-woolworths-beats-coles-in-food-sales-growth-for-third-straight-quarter-idUSKBN1D0034 [Accessed 5 Oct. 2018].
Samsung.com 2018. Business Monitors | Business Displays | Samsung Business. [online] website. Available at: https://www.samsung.com/us/business/products/computing/monitors/ [Accessed 6 Oct. 2018].
Telstraglobal.com 2018. The Language of Expansion. [online] Telstraglobal.com. Available at: https://www.telstraglobal.com/au/expansion [Accessed 6 Oct. 2018].
Theconversation.com 2018. Company results: how competition is transforming Australia’s retail sector. [online] The Conversation. Available at: https://theconversation.com/company-results-how-competition-is-transforming-australias-retail-sector-72844 [Accessed 5 Oct. 2018].
Theludlowgroup.com 2018. How Market Research and Brand Loyalty Contribute to Apple’s Success. [online] The Ludlow Group. Available at: https://theludlowgroup.com/2017/12/06/post-post/ [Accessed 5 Oct. 2018].
Thenewdaily.com.au 2018. How Woolworths are winning over consumers. [online] The New Daily. Available at: https://thenewdaily.com.au/money/finance-news/2018/02/23/woolworths-half-year-profit-coles/ [Accessed 5 Oct. 2018].
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