Bus 620 Week3 Assignment

In: Business and Management

Submitted By lucksbucks
Words 976
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BUS620: Managerial Marketing

Professor Debra McCoskey-Reisert

September 16, 2013

For the past decade, Apple Inc. has been at the forefront of innovation in the modern age. Fierce leadership, tactical business strategies and a clear and focused vision has led to the creation of unrivaled and unique innovative products, such as the iPod, iPhone, and iPad. Much of the success of Apple has been contributed to the late Apple Inc. co-founder, Steve Jobs; however almost two years after his death, many find themselves speculating whether Apple can stay at the forefront of innovation and technology. Specific generic and segmentation strategies recommended in this paper should be implemented by Apple Inc. to prevent its downfall.
Considering Job’s contributions to Apple Inc., current CEO Tim Cook has large expectations to fulfill for both consumers and shareholders. Everyone is anxiously waiting for Tim Cook to reveal the next innovative product that will change the entire mobile/tablet/ and PC market, as the iPhone and iPad had done in the past, but before Apple attempts to introduce the next big product, it’s important the company analyzes its generic and segmentation strategies. According to Finch, market segmentation enables companies to adapt different marketing mixes to appeal to the unique needs of specific, homogeneous target market segments (2012). The success of such market segmentation strategies lies in the ability to understand the needs of different markets and how ones product will satisfy those needs. A large part of Steve Job’s success was his ability to understand the consumer’s needs and how his products satisfied those needs. The Washington Post wrote, “Jobs’ innovative visioning is fed by his own aesthetic sensitivity. He won't produce anything he doesn't think is beautiful. He develops his…...

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