Introduction

Apple Inc., a technology company whose core SIC is broadcast and television telecommunications equipment, was founded on Jan 3, 1977, as Apple Laptop, Inc. in California. The name was altered on January 11, 2007. The "Apple 1 computer," Apple's first item, was released in 1976. Since then, Apple has drastically increased the number of products and services it offers. One of Apple's most well-known devices today is the "iPhone." Half (50%) of Apple's $274 billion in overall sales in the 2020 fiscal year came from the $137 billion in iPhone sales. The Assistance industry continues to grow, and Apple is benefiting from this growth in Australian market. The App Store, Amazon Music, video, and especially cloud services have all performed well recently. Additionally, there is still a high demand for Apple's line of products, that encompasses the iPad, iMac, smartwatches and Wearables. A robust cash flow statement and balanced sheet show that Apple's capacity for profit is higher than the industry average. However, increased scrutiny as well as legal concerns have had an impact on the achievements of the company. Implementing the (ASX Limited, 2019) assessment on Apple Inc., the clients are advised to buy or hold shares of Apple according to the results of the valuation methods as well as macroeconomic ratios. The author also proposes this because when there are not many suitable investment alternatives, the corporation should think about raising dividend.

(ASX Limited, 2019) mentions that in the Strategic Watch strengthens Apple's competitive advantages. It thinks that Apple's advantages include its rigorous hiring process and great brand recognition in Australia. The argument was supported by (Cherry, 2018), who showed how Apple's performance can be due to their ability to form a tribe or fandom that feels special because each of them own an Apple smartwatch. Apple releases products like smartwatch versions at an alarming rate, and its fans are there to purchase each single one just as soon as it becomes available. To ensure they can purchase the newest item, some people actually sleep outside in front of shops. Related to the problem, Mohamad and Husnina (2018) emphasized how a reduction in middle-class customer preferences has been caused by Apple's pricing advantage over competitor handsets. Researchers such as Mallin & Finkle (2015) provided a more in-depth description of Apple's potential in their research articles. The most important opportunities for Apple come from its committed customers and the expanding market for cloud-based solutions. Apple smartwatch users keep supporting the business by showing an interest in the upcoming releases. A growing number of individuals are increasingly embracing cloud computing for their operations as internet availability and speeds improve. Given the growing demand for cloud-based solutions, Apple can boost the amount of iCloud services and applications it provides.

Marketing Objectives

In 2015, Apple Watch made its debut on the Australian market, where it has since gained enormous popularity. The smartwatch is a component of the expanding wearable computing trend, which experts predict will rise by 14.5% by 2026 and generate $104.39 billion in sales by 2027, creating a significant market potential (Allen, 2022). With a 50% share of the market over rivals like Fitbit, Samsung, including Garmin—all of which are viewed as low-risk threats—Apple Watch rules the sector. Activity monitoring, monitoring of heart rate and adjustable wristbands are among of the Apple Watch's standout features. A succinct description of Apple Inc.'s business strategy may be found in its yearly 10-K statements. They use the following sales techniques: The company is committed to provide its customers the best possible consumer experience through into the creation of cutting-edge equipment, technology, peripherals, as well as services. The business model makes advantage of its remarkable ability to create and manufacture its very own software products, equipment, software applications, including services to be able to offer its customers new products and offerings with enhanced functionality, easily integrated, and innovative design. The company contends that continuing expenditures in R&D, marketing, including advertising are necessary for the development and commercialization of cutting-edge products and technologies. As part of its broader strategy, the company keeps expanding the technology for distributing software and video applications from third parties via the iTunes Store. In order to make it simple for customers to locate, download, and set up applications on their Mac, the firm introduced the Mac Iphone App in December 2010. The firm also funds a network for the development of equipment, software, including online downloads from third parties that improves the Business and its goods. Apple, Inc.: A Triumph of Creativity The company's goal also includes for expanding its distribution system in order to effectively reach more customers and provide them with excellent pre- and post-sale support. Apple Inc., Mallin, & Finkle (2015) The company's goals, vision, mission, and ambitions lay out decision-making procedures and give daily company operations a framework.

Segmentation,Target Market(S) And Positioning

The significance of the Apple Watch in the Australian market for smartwatches is undeniable, as was stated in the strategic planning. According to Strategy Analytics, the market had tremendous growth as companies shipped twelve million watches in the 2nd period of 2019, a 44% rise from the same period in 2018. In order to make profit, Apple focuses on a particular target market and their desires. In the case of the Apple Watch, segmentation strategy is applied with clients here between ages of twenty and 45 as the emphasis of the marketing. Men and women are also included in the target demographic. Depending on their stage of life, potential Apple Watch consumers are in their last months of university, couples, couples with children, or parents with grandchildren and children. Furthermore, it is envisaged that such customers will be well-off and capable of purchasing the much more current device revisions.

Segmentation

It is important to note that the content on the Apple Watch site is divided into several sections that are both aesthetically attractive and simple to understand. Such divisions include of the several Apple Watch iterations, software, accessories, and a comparison area enabling buyers to pick between the various models and versions that are offered. Clients who worry about luxury items are the target market for the Apple Watch from Hermes, whereas clients who are interested in fitness are the target market for the Apple Watch from Nike. As an outcome, the web pages lures different kinds of audience because of their preferences, that is important to take into account while promoting a new product. Because of Apple's watch brand style, the visuals are clear and uncomplicated. The language style is known for using succinct slogans to draw readers in. For instance, the phrase "Stand out. Customers who identify as LGBT+ are encouraged to purchase Pride Apple Watch bands by the campaign "Stand proud."

Target Market

Clients with various characteristics make up Apple's target market in Australia. Apple's target market is predominantly middle-class along with the upper-class buyers because they are more likely to have the financial means to pay the more expensive price premium for Apple goods (Solomon et al., 2014). These people have money and are willing to spend a little extra for higher quality. According to individuals who purchase mobile phones from other businesses, 94% of Iphone users are wealthy (Reyes et al., 2018). Millennials are a key target market for Apple watch because they likely to be more reliant on technology than generations past and therefore are consequently enjoying a financial boom. The average age of an Apple customer is 35 to 44 years old, and 1 in 4 people in the 18 to 34 age brackets say they plan to buy an Apple smartwatch in the next six months (ASX Limited, 2019). Music enthusiasts are drawn to Apple as well. The ease of digital content as well as the i-Tunes stores have been considered in the design of all Apple devices. Apple smartwatches are popular among people who enjoy music and want an easy way to save, share, and purchase music (Cherry, 2018). People in the media and creative industries also like Apple watches because they take care in developing unique functionality as a key element in all of their products (Herbison, 2014).

Positioning

In order to better reach their core demographic, Apple's various retail locations in Australia are frequently located in busy spaces with appealing surroundings (Ham et al., 2019). All companies are designed to be straightforward and to emphasize the smartwatches in order to guarantee excellent consumers' buying experience and to attract new customers (Solomon et al., 2014). Additionally, Apple Inc. has invested in initiatives with outside vendors to improve the way Apple watches are displayed in its retail locations (Curtin, 2009). The Apple Prestige Distributor Program is the name of this business (Curtin, 2009). Apple also has pledged to help the educational system by supplying tools that support instructors in their classroom instruction and students in their learning (Herbison, 2014). Apple is of the opinion that children can learn more and attain a higher educational level by properly incorporating technology into the curriculum (Reyes et al., 2018). In order to satisfy the requirements of school, Apple has created a variety of goods, services, and initiatives.

Appropriate Marketing Mix

Product

The Smartwatch aims to meet the desire for a fully customizable, aesthetically pleasing wearable that may enhance the features of a cell phone (in this example, an iPhone). It is additionally a product that provides an outstanding value proposition to the consumer predicated on effective implementation to Apple hardware and application surroundings, a durable structure made of high-quality materials, a ground-breaking layout that originally stood out, and then also keeps adding countless customisation options though the armbands that suit all styles and makes it taste. Because Apple's customer relations are wrapped all of these benefits. Consequently, it makes use of customization, connectivity, design, usability, and services to maximise the additional value provided to the client as a return on their investment. Only the display and rear components vary according to the version in the firm's integrated product line, which combines hardware and software flawlessly. Apple then profits from a device with a high profit without having to pay extra costs associated with the complicated handling of a wide variety of removable features plus add-ons.

Pricing

Apple uses a distinct marketing strategic plan rooted in differentiation that emphasizes the value of a product, abilities, as well as benefits and enables the firm to sell its products with fringes noticeably higher compared to those of its rivals, despite the fact that price-setting is almost always challenging as a result of the in the supply, cost interdependencies, and within the variable levels of contest. Apple isn't the lowest-cost company. The business has never used penetration pricing to fast increase market share because Apple has succeeded to rapidly overtake its competitors in several product groups despite charging significantly more than its competitors. Whatever Apple actually engages in is a form of "market-skimming," or, to put it another way, they launch a new product into the market at such a slightly higher price than their rivals' to increase their first profits from early adopters. But it's necessary to highlight a significant distinction in this case. As clients begin to shed enthusiasm or innovative models are introduced, the majority of businesses adopting a market - skimming approach have a tendency to gradually drop their pricing. Given that the corporation is able to sell its goods at high prices throughout the vast majority of the product's life cycle, Apple alone has done this on a relatively few numerous occasions even with minimal reductions.

Promotion

Apple is a company that invests a lot of money in advertising its products through multiple platforms. Apple Inc. constantly searches for the best locations where any advertisements might have the biggest impact. This is done through agreements with other businesses (Apple Inc. + Nike Inc. to commercialise the Nike activity tracker), on TV, in specialized magazines, banners, mobile commercials in transport systems like trams and buses, etc. Another of the areas in which the organization has traditionally been very engaged is smartwatches placement. In a number of popular American television shows today, one could see actors utilizing a Mac, an ipod touch, or maybe even more recently, an Apple Smart-Watches. Numerous successful commercials, including the renowned Apple Macintosh Ad, widely regarded as the greatest Super Bowl advertisement over all time, or perhaps the documentary series in which Apple paradoxically mocks the deficiencies of Windows, demonstrate Apple's innovative thinking in its struggle against the status quo along with his personal taste for commercials and ads that feature a significant influence on consumers' behaviours and beliefs.

Place

Apple presently works to place its goods in as numerous locations and as close to its target market as is practical. Every one of the firm's retail locations has a designated place for the Apple Smart Watch. The smartwatches are the firm's direct marketing conduit and were created to convey Apple's dedication to create and difference as a business with a tight perspective on differentiation. Apple sets its stores strategically throughout most metropolitan areas or shopping centres and pays careful consideration to the design and architecture, including the use of large glass building facades or transparent glass steps (like this at the Apple Store on Fifth Avenue in New South Wales). These shops have grown that much more premium after the release of the Smartwatch in April 2015. Customers who are debating buying the gold Apple Watch Edition are encouraged to enter a space that is segregated from the remainder of the shop and take a seat pleasantly. He receives individualized guidance from an Apple employee onsite, along with the sort of care and consideration one would anticipate receiving from a top premium company when interacting with a prospective customer.

Conclusion

Apple seems to have a range of competitive advantage when it comes to assessment, including its well-known name, exceptional innovative research, plus advanced software applications. It has several drawbacks, including a high appraised value, a limited effective marketing activity, plus technical difficulties with some other third-party products. By exploiting its rapid technology advancement, the company must seize chances in a variety of areas, including clean energy and automated driving capabilities. Unquestionably, Apple has to cope with threats such as the coronavirus epidemic, strong competition among all of the other well-known businesses, as well as the fallout from the trade battle. The team also conducted some research to determine the danger that this content poses to Apple. For instance, Apple might profit from free trade deals while also still having to cope with problems related to trade disruptions. In order for the company to grow commercially and for the spread of vaccines, the financial system should recover. Moreover, the profitability of Apple is significantly influenced by sociological variables. Given the technological aspect in general, which enables the company to develop as well as create more beneficial services and solutions, Apple seems to have a considerable amount of potential. The analysis of financial statements of Apple's annual revenue along with percentage for each item provides compelling justifications for why Australian is Apple's largest market and the smartwatches is its best-selling item. As its portion of annual revenue has consistently climbed, Apple will also keep sharpening its emphasis on the Apple partner ecosystem.

References

Allen, J. (2022). Apple Watch Series 8 vs Samsung Galaxy Watch 5: which is better? https://www.t3.com/features/apple-watch-8-vs-samsung-galaxy-watch-5

ASX Limited. (2019, April 18). Share Price Research/Company/RFG. Retrieved from ASX: https://www.asx.com.au/asx/share-price-research/company/RFG

Cherry, K. (2018, November 11). The Five Levels of Maslow's Hierarchy of Needs. Retrieved from very well mind: https://www.verywellmind.com/what-is-maslows-hierarchy-of-needs-4136760

Curtin, J. (2009, August 2). Fair’s fair: ethical products winning consumers. Sun-Herald, The (Sydney). Retrieved 10^th October, 2022, from http://ezproxy.newcastle.edu.au/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=n5h&AN=SYD-5QCHG8G02SWEME61J0S&site=eds-live

Ham, C.-D., Lee, J., Hayes, J. L., & Bae, Y. H. (2019). Exploring sharing behaviours across social media platforms. International Journal of Market Research, 61(2), 157-177. Retrieved from http://ezproxy.newcastle.edu.au/login?url=http://search.ebscohost.com/login.aspxdirect=true&db=bsu&AN=135588259&site=eds-live

Herbison, M. (2014, June 27). Can a local operator succeed where Starbucks failed in

Australia – by opening more stores? Retrieved March 2019, from Marketing Mag:

Hunt Executive Search. (2016, June). SMART-Goals. Retrieved 10^th October, 2022, from House of Hunt: http://www.houseofhunt.com/wp-content/uploads/2016/06/SMART-Goals.jpg

Reyes, G. I., Nieto, E. S., & Pèrez, G. I. (2018). Brand Image as Competitive Advantage. Competition Forum, 16(1), 142-153. Retrieved from http://ezproxy.newcastle.edu.au/login?url=http://search.ebscohost.com/login.aspx direct=true&db=s3h&AN=132597544&site=eds-live

Solomon, M. R., Hughes, A., Chitty, B., Marshall, G., & Stuart, E. (2014). Marketing: Real People, Real Choices (3rd ed.). Frenchs Forest: Pearson Australia Group Pvt Ltd.

Mallin, M. L., & Finkle, T. A. (2015). Apple Inc.: Product Portfolio Analysis. Apple Inc.: product portfolio analysis. Journal of the International Academy for Case Study.

Mohamad, Y and Husnina, N. (2018). Determinants of Risks and Performance in Apple Inc. Available at SSRN: https://ssrn.com/abstract=3181705 or http://dx.doi.org/10.2139/ssrn.3181705

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