The target audience for the Apple iPhone has kept expanding with the rate of new offerings and models. Initially the market segment was young men under the age of 35, but now the youth covers the biggest chunk of iphone’s target audience. Apple believed that as around 50% of these people did not own an iPod, they may instead choose to buy the iPhone. By targeting the product at young men, it went without saying that women were also interested in the product. With a minimum price of $499 on initial release, the main customers for the iPhone were businessmen, jet-setters and small business owners.
Initially the target customers for iphone were primarily the US (home country) and the UK customers. Iphone received a huge response from customers in the home country and then moved across continents which include: Europe, Asia Pacific, Middle East and Africa (iphone.com). Iphone redefined its business strategy by going to international markets through market penetration and market development strategies (Kotler, Keller 13th Ed). Iphone kept its prices high at the initial stage which developed a niche market for Apple and when the price decreased teenagers were also large buyers of the product. (Lliev, Lindinger 2004).
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