Business Studies

Respond to the following in a minimum of 175 words:

• Select a consumer-products company belonging to the Fortune 500.
• Search the Claritas Zip Code Lookup site for a zip code of an area you are familiar with.
• Describe how the company’s key product and brand elements fit the needs of the market described.
• Evaluate the company’s ability to address this market.

ANSWER

APPLE

Apple company is among the top ten in the fortune 500 list of companies. Some of apple products include iPhones, iPads, air pods and Mac books.

The Zip code area of 60450, Morris Illinois is my choice with the majority of its population above 25 years of age, household income of 50,000 dollars-75,000 dollars being the highest and majority of the population is comprised of white people.

Apple products fit the needs of this market as majority of its population is that of working people and students who are in need of technological devices to be able to facilitate effective working in places of employment or school. Apple’s slogan is ‘Think differently’ which encourages the people to think outside the box and to be unique and different. Apple also offers a wide range of products in various colors which increases the opportunity to select a suitable product. This wide range is one of the factors that drives people to Apple products since one can get laptops, iPads, smart watch and phones in one place. Another aspect is the price range; majority of the households have an income of between 50,000 to 75,000 dollars making it possible for them to afford these apple products. It is also important to note that majority of the households is comprised of one to three people in the households which makes it easier to afford the apple products as per the household income. Apple is a powerful brand with a huge customer base that its customers are able to identify the products from the logo. (Razak et.al. 2020)

Apple is able to address this market through creating a good relationship with its customers. It can achieve that through having offices and stores around the area to facilitate easier access to get the products and customer service in case of any issues. Another aspect is in online access where one can receive the services and products from the comfort of their homes.

References

Razak, M., Hidayat, M., Launtu, A., Putra, A. H. P. A. K., & Bahasoan, S. (2020). Antecedents and consequence of brand management: empirical study of Apple’s brand product. Journal of Asia Business Studies.