Swot Analysis Of Iphone 5
During an interview in 2013, Apple CEO Tim Cook told Bloomberg BusinessWeek: “We never had an objective to sell a low-cost phone. Our primary objective is to sell a great phone and provide a great experience, and we figured out a way to do it at a lower cost.” (Grobart). This statement by CEO Tim Cook summarizes the essence of Apple’s approach towards the iPhone taking it beyond just a physical product. Apple set itself the objective to develop a product that was able to provide its users with a unique way of operating that would stimulate a sustaining loyalty to the iPhone. But it all had to start with the fundamental elements that make the product of the iPhone.
2. The iPhone
As marketing guru Philip Kotler explains
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By dissecting the iPhone into three product levels known as the core product, formal product and augmented product, as shown in figure 9, a deeper insight of the product’s benefits will appear which will help to understand why effective use of the product element within the iPhone’s marketing mix plays a key role in maintaining a competitive …show more content…
After a year of growth, the iPhone 5 was approaching the maturity stage of its product life cycle as sales volumes peaked. Hence the reason why Apple thought of various implementations of extension strategies in order to maintain the life of its successful product.
For instance, by introducing the iPhone 5s as well as the iPhone 5c at the same time in September 2013, Apple immediately operated in two different market segments. The iPhone 5c was priced significantly lower than the iPhone 5s, due to low production costs, which allowed Apple to target the growth and demand in potential international markets for the iPhone (Trefis Team). Even though features such as the 101.6 mm diagonal display, storage of 16 GB and the 8 megapixels camera were kept the same, both iPhones had different aesthetics allowing the customer to chose their consumer preferences.
Due to the similarity of the products, the whole product line is likely to appeal to a variety of customers as they trade off the same “Apple brand” and “Apple reputation”. This automatically encourages existing customers to try the newer versions of the product hereby increasing sales and profit while keeping the brand new and
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