Relationship between benefits sought and consumer profiles in Essay

Relationship between benefits sought and consumer profiles in different market segments - Essay Example in relation to its main competitors. The management decision problem for the research was finding of the relationship between benefit sought and consumer profiles in different market segments. The research question for the study was that how can Apple Inc. examine benefits sought and consumer portfolios to bring continuous improvement in market performance. The researcher collected the data in a proper format using questionnaires and analyzed it from all aspects. The researcher thoroughly researched the internal and external business environments’ factors of the selected company by visiting different people related to the company, as well as some customers. Along with that, the researcher also collected information about the company’s market performances and compared them with the performances of its competitors. The whole research took around two months, which included, visits to different people, collection of information, analysis of the collected information, and pr eparation of the report. 2. Background Research Apple Inc. is an American multinational firm, which deals with the manufacturing and selling of electronic products. Some of the main products, which Apple Inc. develops for its customers, include computer systems, laptops, iPhones, iPods, and IPads. The company’s headquarters are based in California. The company has employed over 60,000 employees all over the world. Apple Inc. tends to protect its market share by delivering high quality products to the customers. The company earned nearly 105 billion dollars in 2011 going ahead of its main competitors, which include Dell Inc. and Hewlett-Packard Company. The figure reveals its market share in the world of digital electronics. Apple’s successful marketing strategy has been the key to the achievement of competitive advantage for the company. Apple’s target market includes people who like to have a better user experience with the products and are willing to pay a bit more for quality. Apple’s target market also includes professionals, technology lovers, and businesspersons. This research paper would cover the ways benefits sought and consumer profiles can help Apple Inc. gain success in the world of digital electronics. The researcher would examine different internal and external business factors and their relationship with the performance of the company. There is not much research carried out in these areas in the past, which is the reason why I want to explore these areas. Moreover, there is also a need to find out the mechanism using which Apple Inc. can achieve a sustainable competitive advantage in the local and international markets. 2.1 Literature Review External and internal business environments play a vital role in improving performance of a company in the market. The main point of consideration for a company is the way it deals with both external and internal environments. External business factors include economic factors, te chnology factors, social and cultural factors, political and legal factors, and competition.1 â€Å"Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class†.2 Some of the internal factors of a company’s business environment include employees, capital, cash flows, stability, and risk-taking.3 For any company, the main mission is to get competitive advantage in the market by achieving high graph of sales. Companies use an appropriate marketing mix to achieve this mission. â€Å"