Apple is a ubiquitous brand
Apple is a ubiquitous brand, both in the United States and abroad, and has been for nearly 30 years thanks to innovations made by their iconic founder Steve Jobs and multiple brilliant marketing campaigns. Apple almost single-handedly began the “smartphone” trend by releasing the iPhone in 2007, fueling a wave of competitors in nearly every global market. Currently, Apple is promoting their latest offering- the iPhone X. At nearly $2,200, the iPhone X is by far one of the most expensive smartphones on the market. Apple’s marketing strategy has largely been feature-driven, highlighting the X’s new LED display, striking Camera, and facial recognition features as reasons why consumers should buy the phone. For the most part, Apple’s marketing strategy target’s brand-loyal individuals who already have the older versions of their products who might be looking to upgrade. Having such a strong market position also allows Apple to avoid price wars by emphasizing their unique value position and seeing a high price point, while still selling enough units to be highly profitable. Apple’s target market for iPhones stems across nearly every demographic category, but the common denominator is that people who own iPhones tend to buy another iPhone when they decide to purchase a new smartphone.