The marketing mix of Apple can be discussed in terms of the 4P model, which assess the strategies of the company based on four key parameters such as Product, Price, Promotion and Place.
Product: The product line up of the company includes a range of consumer electronic products, that includes its traditional Mac computers and iPhones. The product category of Apple has widened over the years, as it seeks to meet a wider variety of customer needs. Presently, its product categories comprise of desktop and laptop computers (Mac), smartphone (iPhone), smart watch (Apple Watch), tablet computers (iPad), smart speakers (HomePod), smart media player (iPod Touch), accessories, utility applications (Final Cut, Logic Pro X, etc.) and music purchase (iTunes) and streaming services (Apple Music). Each of these product categories of the Apple have different variants available at different price points, targeted at a wider demographics. It should be noted that over the years, Apple has broadened its product offering by introducing new products such as HomePod and Apple Watch.
Price: The pricing strategy of Apple indicates that the company takes premium pricing approach. Although the wide range of product categories target towards a larger customer base, but the higher price point suggests that Apple designs its products for the customers with high affordability. The company appeals to the customers by offering the best user experience possible, which tends to justify the premium pricing.
Promotion: The promotional activities of Apple mostly involve traditional platforms of marketing communication such as print media and television commercials. However, it should be noted that the company has recently started to adopt digital marketing strategies that also includes the use of social media platform. The key objective of the promotional activities of Apple is to make the customers aware of the superior user experience of the Apple products. The company rarely promote their product specifications, instead they focus on value creating and how it can improve the lifestyle of the consumers.
Place: Apple products are available almost all across the globe. The product distribution usually takes place through its proprietary stores known as the Apple Store, or through third party resellers using both physical retail stores and online platforms. The global availability of Apple products allows the company to target a large number of customers and it also allows it create a strong brand awareness in a global scale.