Elements of marketing mix
In the today’s world, marketing of a product plays a very important role in the success of the product. The product cannot make its standing in the market without its promotion or marketing it in the market until and unless it is the product of a well-known brand. Therefore, to build the strong market standing of the product, the organizations have to implement the different marketing strategy, which can help in the successful launch of the product (Byrne, 2016). In the below study, in order to understand the better techniques and strategies for the success of the product the theories and concepts are explained; such as, elements of marketing mix, concepts of organizational behaviour and its implementation on Apple iPhone X. The recommendation for the betterment of the product is also explained in the study.
Elements of marketing mix
Marketing mix is the mixture of the several plans and ideas, which are followed by the representatives of the marketers in order to promote a particular product or brand. Similarly, Apple analyses the marketing mix of its brand/company by using the 4Ps and the marketing strategies:
Product: The goods manufactured for the final use are termed as products. Mostly iPhone comes with new product every year like iPhone X this year. In other cases, introducing new product leads to cannibalization, but in case of iPhone, the price of old product attracts the different segment of customer.
Price: In order to find an X factor and invest in its R&D the cost of the iPhone increases as a part of marketing mix. Only few loyal and target customers gladly accept this price strategy (Aghaei, Vahedi, Kahreh & Pirooz, 2014).
Place: iPhone consist of a strong place and distribution strategy through its I-stores, which are the Apple owned stores, independent stores in which the iPhones are kept with the retailers along with other mobile phones, online, after sales service, and so on.
Promotion: In order to promote the new product Apple also introduces a new tagline, which promotes the brand itself. The most used social networks such as Facebook, YouTube are the platforms used by iPhones to promote the product (Khan, 2014).
Concept of organizational behaviour and implementation of it on Apple’s iPhone X
The interaction of people within the groups is the study of organizational behaviour. Generally, in order to create the efficiency in the business organization this study is applied. The concepts of organizational behaviour in context of the product are explained below:
Perception: There are always different perceptions of anything as every coin has two side heads or tails. Everything can have its positive or negative impact of it, in the similar way; in the case of a product people make different perceptions by observing and listening. The perception of the people justifies their point of view for different things. This may also differ from the different income range of the people. In this respect, people owing Apple’s iPhone X thinks that it is a way to represent their status symbol (Kinicki & Fugate, 2016).
Concept of organizational behaviour and implementation of it on Apple’s iPhone X
Irrespective of its high prices, people demand it much and it leads to increase in the price of the phone launched. On the other hand, the people who cannot afford to buy Apple iPhone X; it somewhere leads to the psychological impact on the mind of the people and leads to the feeling of inferior complex. This mindset of people shows that the demonstration effect in the market prevails at a very high range (Huang & Sarigöllü, 2014).
A person as whole: As it is implied that the brain or skill of the person cannot be employed, one has to employ the person as a whole. The background and knowledge helps in generating the skills of the employees or the individuals. As the emotional conditions are inseparable from physical conditions in the similar way the professional, life is inseparable from the personal life of the individual (Miner 2015).
Therefore, function the functioning of a human being is not specific feature of the humans. In the context of above concept, only manufacturing the phone, which is of high range, should not be the aim of Apple. Likewise, emotions are inseparable from physical condition in the similar way the organization cannot separate the customers who are willing to buy the phone but are not able to do so due to its unaffordability. In that case, it is the responsibility of the company to manufacture the phones, which can be accessed by the customers of every scale, if it wants to increase its market standing and make it stronger, it has to attract more and more customers (Pinder, 2014).
Social system: Social systems on the part of the organization do not only leave the positive impact on the standing of the organization but it also attracts the customers in favour of the organization. The organizations, which are more, involved in social work get more of emotional connect with the market. It is complete responsibility of every organization to get in connect with other customers, firms, the world outside, its employees, it encourages the every individual in a positive sense. The social system is generally of two types formal and informal. In formal social work, people working in the organization form a group among themselves, which belong to the similar club, is considered as formal social system (Hogg & Terry, 2014).
For example, a party after successful completion of project, this helps the employees to know each other in a better way and to build more healthy relations. The informal social system says about the group of people, friends socializing freely with others, enjoying, chilling, or partying at the birthday parties. To execute these kinds of systems the organization needs to be more flexible with its policies and programmes so that the employees could feel a bit free and enjoy. Because sometimes, it is not necessary that the organization always concern about its market standing and the products because, the employees of the organization are the biggest asset of the organization (Vivek, Beatty, Dalela & Morgan, 2014).
Analysis of brand based on four concepts or theories
Mutual interest: In the today’s corporate world, no transaction takes place without the mutual interest of both the parties. In the similar way, every organization needs people and people needs organization in order to get prosperity and survive in the market. Without the knowledge and skills of the employees and application of their innovative ideas, the organization cannot run its business. It is the mutual understanding between the employees and organization, which help in achieving their respective objectives (Rahim, 2017).
For example, when people in the bank deposit the money, bank provides loan, interest on that. Similarly, when the interest of the customers collaborates with the organization, it helps in the improvement of market value or standing of the particular product or the brand. In the same way with Apple, if the customers are showing their interest in the particular model like iPhone X, the company will manufacture the particular model and will sell at higher price; which will not only increase its net worth but it will also be able to gain more of customer trust (Podsakoff, MacKenzie & Podsakoff, 2016).
Recommendations for the betterment of the Apple iPhone X
Instead of only focusing on introducing new sets of hardware, Apple should enter into the market of providing services, and come up with more innovative techniques, as it came with wireless charging facility. It will attract the interest of the people interested in innovations and more of high technological advancements.
Along with introducing the service line, in order to increase the existing product range Apple being the most trustworthy brand should come up with rapid innovative process of products, which will also help it to attract the new bunch of customer of every income group.
Conclusion
By studying the tools of marketing mix, it is clear that, in order to introduce a new product, it is important to fulfil those four elements of marketing mix. However, along with this, it is important to know the action and reaction of the people on the particular product it is important to study the concepts of organizational behaviour. These concepts studies about the impact of the product on the market and its market coverage. In the above study, the implementation of concept of organizational behaviour on Apple depicts the market coverage and customer base of Apple in the market.
References
Aghaei, M., Vahedi, E., Kahreh, M. S., & Pirooz, M. (2014). An examination of the relationship between services marketing mix and brand equity dimensions. Procedia-Social and Behavioral Sciences, 109, 865-869.
Byrne, B. M. (2016). Structural equation modeling with AMOS: Basic concepts, applications, and programming. United Kingdom: Routledge.
Hogg, M. A., & Terry, D. J. (2014). Social identity processes in organizational contexts. United Kingdom: Psychology Press.
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors. New York : Springer, 113-132.
Khan, M. T. (2014). The concept of’marketing mix’and its elements (a conceptual review paper). International journal of information, business and management, 6(2), 95.
Kinicki, A., & Fugate, M. (2016). Organizational behavior: a practical, problem-solving approach. New York: McGraw-Hill Education.
Miner, J. B. (2015). Organizational behavior 1: Essential theories of motivation and leadership. United Kingdoms: Routledge.
Miner, J. B. (2015). Organizational behavior 4: From theory to practice. United Kingdom: Routledge.
Pinder, C. C. (2014). Work motivation in organizational behavior. United Kingdom: Psychology Press.
Podsakoff, P. M., MacKenzie, S. B., & Podsakoff, N. P. (2016). Recommendations for creating better concept definitions in the organizational, behavioral, and social sciences. Organizational Research Methods, 19(2), 159-203.
Rahim, M. A. (2017). Managing conflict in organizations. United Kingdom: Routledge.
Vivek, S. D., Beatty, S. E., Dalela, V., & Morgan, R. M. (2014). A generalized multidimensional scale for measuring customer engagement. Journal of Marketing Theory and Practice, 22(4), 401-420.
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