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Brand Value of Apple products

 

 

Brand Value of Apple products

 

High brand equity of the parent brand

Apple is a leading brand in the world market known for its premium goods and services. It has created favoritism among its customers with its unique brand quality and reliability of its products. Apple products are associated with luxury and sophistication and it is due to this it has a huge fan following. Apple is thus considered as one the most valuable brand in the world market. It has launched a variety of products in the market for its customers since its inception like iPad, Mac, iPhone, TV, music, air pods, Home Pod iPod touch, apple watch and many more (Pattuglia and Amoroso, 2019). Apple is known as an innovative company for discovering technological driven products with the edge of computation. The company has maintained its brand equity in the market by valuing customer’s preconceptions. It is identified through research that value of the brand is one third value of the Apple. The total market cap of the company is $703.5 billion and it has a brand value of 214.5 billion.  The company is now entering whitegoods whole selling market to make earn its lost decline profit in the last few years.

Brand elements – Name, Logo, Slogan

Name of the product - iFridge,

Logo of the product – Apple

Slogan of the product – Next generation fridge equipped with latest technology

Primary and Secondary association

  • Sponsorship – Apple moves into sports sponsorship
  • Co-branding- Nike
  • Ingredient branding- Siri
  • Celebrity endorsement-  Samuel L. Jackson 

Basis of fit

Apple products are fit for an age group between 25 to 50. This group generally adapts new technology easily.

Unique selling proposition

Apple Fridge is unlike the regular refrigerators that are used in the households. It has some unique features which makes it a valuable product for each household. These include following things mentioned below:

  • Automatic cooling

Apple fridge has temperature sensors that changes the cooling temperature according to the weather conditions outside. Every customer can now connect apple fridge with its mobile phone. 

  • Inventory check feature

It has an inventory check which gives an alert notification in your mobile when any item added in the list gets finished. For instance, if the container of cherry is going to get finish. It will give an alert to the user stating that it’s time to purchase cherries for home.  It customizes cooling need based upon the food that has been kept inside it. The best part of the apple fridges is that it notifies the user if there is no more ice or cold water left in it by sending them a mobile alert.

  • Convertibility feature

The fridge also has a convertibility feature that allows customer to convert freezer into fridge or vice versa depending upon the need of the hour. In addition to this there are some other features as well like seasonal mode, normal mode, vacation mode, home alone mode and so on. Each of these modes can be used according to the needs.

  • Spacious interior

Apple fridge has a spacious and customizable interior which looks cool and attractive. Modern refrigerators come with a flexible chiller, shelves, crispers and so on. It helps the customer to manage the space within the fridge easily (Zhang et al. 2020).

  • Eco- friendly LED

It uses LED’s that comes with eco-technology that is The LED’s used in the refrigerator consumes 20 times less power than the normal lighting bulbs.

  • Digital Invertor technology

The product is built with digital invertor technology that helps in reducing the noise and saving energy during nights or in the evening when compressor needs to run at a slow speed.

All these qualities separate Apple fridge from all the other competitor brands in the market. Its consistent innovation and technology has made apple fridge features as the USP of the product in the market.

Benefits of apple brand

There are several benefits of launching a new iFridge under Apple Inc. The company focuses on the customer’s experience and their touch points. It helps the company to earn their trust and increase brand loyalty in the market. Apple provides high quality products which requires minimum maintenance from the customer’s side. Moreover, company provides the best customer service to all the clients who purchase the product and provide a great in-store experiences. It is noted that most of the apple product buyers are new customers and if they find any problem the services providers clear them at that very moment. It has a perfect pricing strategy in comparison to its competitors in the market (Kingsnorth, 2019). The high price of the products set a benchmark to its competitors. Apple has a strong integrated supply chain that provides a strong competitive advantage. Apple puts dedication in its product design and try to develop a product which is easy to understand and use. Apple was the first company to bring innovative products in market thus launching something under its name will always be beneficial.

Brand Mantra

The brand mantra of the Apple is think different. The company focuses on innovation rather than coping features of other competitors in the market. It forces its employees to bring something new in the market using the latest technology.

 

 

References

Pattuglia, S. and Amoroso, S., 2019. ORGANIZING THE MARKETING ACTIONS AROUND PREMIUM PRICE IN TECHNOLOGICAL BRANDS: THE CASE OF APPLE. Skyline Business Journal.

Kingsnorth, S., 2019. Digital marketing strategy: an integrated approach to online marketing. Kogan Page Publishers.

Zhang, L., Wang, Z., Zhang, A. and Song, D., 2020, January. Case Study on the Comparison of the Performance between Chinese and American High-tech Companies: Apple Inc. & Huawei Technologies. In 2019 International Conference on Management Science and Industrial Economy (MSIE 2019). Atlantis Press.

 

 

 

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