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Identify the existing target market or markets for the iPhone

Identify the existing target market or markets for the iPhone, and how the selected product or service is positioned against its competition.

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Existing Target Market for the iPhone:

The target market of a product is that one section in the business environment that the company is going to focus on as they launch the product in the market. The iPhone gained its market entry after the demand for more sophisticated phones that would serve the needs to the ever busy population increased. To ensure that the product reached its target market, the demographics of the target market had to be ascertained. On the basis of the product features, prices and the level of sophistication of the phone, the target market has been selected to have to the following demographic qualities; high level of income, expensive style and taste and affluent living conditions (Oliver, 2011).
It has been verified that the majority fit consumers of the iPhone in the target market cannot be classified according to the race, gender and age. This is the reason why ...

Solution Summary

The expert identifies the existing target market or markets for the iPhones.

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