Fluent Essays

This is a continuation of Week 4 Assignment. Please use Week 4 Assignment that is attached to Complete Week 5 AssignmentFor this Assignment, you will continue to take on the role of a marketer for a large corporate company that currently sells high-end products or services. Your task will continue to be to assess the possibilities of selling a less expensive product/service to boost sales while maintaining the quality expectations of your consumer base. The challenge will be to not tarnish your brand while bringing in new customers that will boost sales for the company. To complete this Assignment, you will continue to develop and present an assessment overview of a high-end brand that is planning to incorporate the possibility of selling a lower-end product or service to a new market. A big consideration is evaluating brand value. Your continued task will be to evaluate your current high-end brand and compare it to the potential new low-cost product/service and assess the real value aspect in order to make an impact on customer buying decisions and perceived value from the overall customer base, all while keeping your current customer base. Last week, you selected a company, and you will continue using that company for this week’s Assignment. The product of your evaluation will be a report that you could deliver to the company’s CEO and senior leadership team for review. In addition to the requirements that follow, be sure to incorporate references to appropriate academic sources, such as those found in the Learning Resources, or those in the Walden Library. Note: Last week, you submitted Parts 1 and 2. This week, you will continue building your report, to include any revisions needed to Parts 1 and 2, as well as your newly developed Part 3 and an executive summary. To prepare for this Assignment: · Return to the Module 2 Assignment Template you utilized in Week 4. With the research and readings from Week 4 in mind, incorporate any feedback, as needed, into your report as you complete Part 3 and the executive summary.   (Week 4 Assignment is attached) Submit Part 3 of your report, as well as the executive summary, to include the following: Part 3: Incorporating Market Share Capturing (approximately 2 pages) · Summarize how market share approach can lead to consumer confidence. · Synthesize your market share analysis for the new strategy and its impact on the organization. · To conclude your evaluation for the CEO, defend how your market share strategies will support your overall marketing strategy for both products and capture market share for the company. Executive Summary (page 1 of your report) Provide the CEO with an executive summary of your evaluation of the opportunities for the brand. This will serve as the first page of your report. Be sure to address the following in your executive summary: · Clearly state the purpose of the report. · Concisely summarize the results of your evaluation of how the company could expand its brand to include a lower-cost version of a product/service that would retain existing customers while capturing additional markModule 2 Assignment: Marketing Strategy Evaluation Prepared by: Date: Walden University WMBA 6060: Marketing for Competitiveness Executive Summary Replace this text with your executive summary. Part 1: Incorporating the Marketing Mix Apple Inc is a multinational company operating in the United States. The technological company specializes in producing high-end consumer electronics, online services, hardware, and software. According to Greg (2020), Apple is among the top four tech companies, along with Facebook, Amazon, and Google. It is best known for producing high-end products such as Macintosh, iPhone, iPad, and iPod. Apple products are more costly than products from all its competitors. Although some people believe that the company capitalizes on its brand name, its privacy policy, technological innovation such as the M1 chips, and durable and high-quality products distinguish it from its competitors. Importance of 4Ps at Apple Inc. According to Forbes, organizational marketing can be defined as the process by which the company communicates with its customers. The marketing mix influences the value of goods and services; price, product, place, and promotion play a crucial role in Apples current marketing. Product Apples product mix revolves around goods and services produced through classified information. Apple produces iPhone, Mac, wearables, iPad, digital solutions, and cloud computing. Thus, the company operates a different line of products. The consumer electronics market is the largest share and significant source of revenue, while other product mixes show that the company has also ventured into the technology and service market. Price Apple customers are willing to pay more for high-end products, and Apple has dynamic pricing strategies that ensure they keep their goods at high prices and attract customers. The company achieves pricing by using two strategies, premium, and freemium strategies. The premium price is the high price the company has set compared to the common price offered by competitors. The freemium strategy ensures free products and services, but customers have to pay more to unlock advanced features. Promotion Promotion is the most common P in the marketing mix. Apple Inc. promotes its products through communication channels such as public relations, sales promotion, personal selling, and advertising. The company advertises through print media, websites, and other advertising networks. Public relations include conducting interviews to maximize publicity, while personal relations utilize customer interactions at the stores. Place Place referrers to the accessibility of the product. Apple products are available at Apple Stores, the Apple website, telecommunication companies, and authorized resellers. Apple physical stores are the most visible areas where they are located for easy recognizability. New Selling Strategies Apple can adopt new selling strategies that will