Brand Lifestyles, Psychographics, and Demographics

QUESTION

Consumer Behavior

Assignment Week 3a

Brand Lifestyles, Demographics and Psychographics

The following link is a list of the World’s Most Valuable Brands, http://www.forbes.com/powerful-brands/list/3/#tab:rank

Select ONE of the brands from the list. I challenge you to select a brand you may not have a direct relationship with. Research the brand by reviewing the brand website. Construct a 2-3 page paper outlining the brand you chose along with the lifestyles, demographics, psychographics for the consumers who purchase this brand. Provide an analysis of this information and discuss how the company can use this information to not only better understand the consumer but how it can impact their marketing efforts.

Assignment Requirements:

• Write between 500-750 words using Microsoft Word
• Be sure when constructing your paper you incorporate concepts from the chapter and/or lecture to show your understanding of the topic.
• Use font size 12,  1” margins and double spaced.
• Include cover page & reference page
• At least 80% of your paper must be original content/writing
• No more than 20% of your content/information may come from references.
• Use at least three references from outside the course material, one reference must be from EBSCOhost. Textbook, lectures and other materials in the course may be used but are not counted toward the three reference requirement.
• Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style.

References must come from sources such as scholarly journals found in EBSCOhost, CNN, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.

ANSWER

Brand Lifestyles, Psychographics, and Demographics

Introduction

The American giant technology company, Apple Inc., has been excelling in business in the recent years. The firm’s top-notch marketing and product distribution strategy, together with ground-breaking innovations and creations in technology have led to massive success in the mobile phone and electronics industry, with the tech giant being ranked third in the 2017 Fortune 500 list of companies, and first in the World’s Most Valuable Brands list by Forbes. The company’s iPod and iPhone devices are currently at the top of the world mobile devices and smartphones market listings, attracting a huge global demand. Its other products: Apple iPad, Apple TV, Mac, HomePod, and Apple Watch, are also performing exemplary in world markets, making Apple Inc. one of the leading highly profitable publicly traded companies.

Lifestyle

Apple is the best illustration of a very successful lifestyle brand. Apple Inc. makes its products for customers with the desire to possess simple but classy items that are of high quality and high functionality. Apple’s products are made for unique individuals who want to own the latest technology products; trendsetters in the tech world. Every day, people can be seen queuing very early in the morning, to purchase the latest iPhones and Mac computers. Many people would love to be the first ones to own a new and famous product. Apple’s products have become the item to own in today’s society. The owners of Apple products are looked at as trendy individuals, and people that well off, because these devices are not inexpensive. Mac computers are made for, and purchased by, people who would love to own a computer that is unique from any other in the market. Every product by Apple Inc. has a feature or several features that are unique over other existing technology products in the market, intriguing its customers, and enjoying their loyalty.

Psychographics

Apple’s branding and marketing strategies focus on customer emotions. The company’s brand personality is mostly about a lifestyle, customer aspirations and a passion for uniqueness, technological innovation, and power. It is also about the simplicity of devices to minimize complexity and create a product design that appeals to people for its ease of use. Apple strives to create a personal relationship with its customers, with the best form of customer service. With this type of orientation, it is no wonder that there exists a strong community sense amongst Apple products users. Apple Inc. retails outlets provide customers with a direct and efficient experience of the products on sale. The environment is conducive, and customers get to learn more about the value of the products on offer, get the opportunity to try and test them, and also acquire assistance on the use of any of the products. The staff at these centers are very friendly, and extremely informative.

Demographics

According to the recent survey report by CNBC, 64 percent of the total number of US inhabitants own an Apple product. Moreover, every average household in the US owns at least 3 Apple Inc. devices. The previous survey was conducted in 2012, where the percentage was 50 percent and at least 2 devices per household. Currently, there are very few demographics with ownership of Apple devices less than 50 percent. At least half of all the demographic groups in the US own an Apple product, including groups such as individuals with salaries below $35,000, retired people and women past the age of 50.

Conclusion

As illustrated by the statistics given above, Apple Inc. has done a good job at establishing a strong link with its customers, enjoying loyalty and trust. However, advertisement and strategies require being employed to ensure that the company acquires this reputable relationship and demand from other countries, besides the US. Africa, for instance, provides a great opportunity for venturing, with the introduction of fairly affordable apple products.

References

EBSCOhost journal: It’s time for Apple to take a new approach to product releases, by Dan Moren (MACWORLD, March 2018 pg. 35-37).

The Wall Street Journal article: https://www.barrons.com/articles/apple-heres-a-glimpse-at-its-next-round-of-products-1519743570

CNN article: https://edition.cnn.com/2018/01/09/opinions/smartphone-addiction-opinion-spicer/index.html

CBNC article: https://www.cnbc.com/2017/10/09/the-average-american-household-owns-more-than-two-apple-products.html