Market Segments of Apple Inc.

Market Segments of Apple Inc.

Introduction

The success of a business depends upon a lot of factors. A company goes through many phases in order to establish a name of trust in the business world. We see those companies that bring up excellent quality products and introduce them to markets. The marketing strategy determines whether the company captures the market interest or not. Marketing plays an important role in the success of a business, especially when it comes to selling technology. Today, we see rapid advancement in the field of technology. With every passing year, there is a new addition to the technology bucket. Different gadgets and devices have been introduced to technology seekers. Today the market is far more competitive than ever before. This essay discusses the market segments of a well-known multi-national organization, Apple Inc.

Discussion

About Apple Inc

Apple is an American based corporation that deals with developing and selling software, computers and electronic gadgets. The company deals with developing smart phones, tablets, music players, computers and software (iOS, safari etc). Initially the company was involved in developing Mac line of computers and related software. Later on, they decided to focus consumer electronics and developed iPod, iPad and iPhone.

Market segmentation

With all the competition going in the world of smart phones and tablets, companies tend to find effective ways to rally customers. One of the ways is to create market segments. Segmentation is a process of dividing the markets into different groups, which have similar requirements and responses to messages about a product or service. In other words, segmentation is a concept that divides a market into distinct segments, which have common needs and show similar responses to marketing strategies (McMillan, 2013). There are four kinds of segmentation: Geographic, Demographic, Behavioral and Psychographic segments. Segmentation is the first ...