Formal report Research Proposal Example | Topics and Well Written Essays - 1250 words

Formal report - Research Proposal Example Furthermore, the platform has made it possible for the company to conduct research at very low costs, understand aspects that cause changes in tastes and preferences of the customers, and make changes when they are needed in order to prevent customers from shifting towards the substitutes in the market. With the increasing levels of globalization resulting from liberalization of markets, efficient flow of information, and integration of economies, the level of competition in the local market has increased tremendously. This results from the entry of multinational companies which have a huge financial base to segment the market, position their products strategically in the market, and attract the loyalty of the customers towards their products and services. However, since the inception of Apple Inc, the company has been recording tremendous growth. Initially, the company was using traditional marketing methods, i.e. use of audio, visual, and print media. Nevertheless, after intense competition from Samsung, Huawei, and Sony, the company shifted to social media marketing. Social media enables the company to reach a global market. Currently, the largest market segment composes of the young generation. This is a segment that has a disposable income which they are willing to use in purchasing high quality products irrespective of their price. Since the entry of the internet in the market, young people have been able to access the social media. This has been facilitated by the lowering of prices of gadgets such as phones, tablets, Ipads, etc. As a result, majority of the young people have turned towards the social media in order to look for their products of choice. This creates a good advertising platform to the company (Hasan 2013). Apple Inc has been able to tap this opportunity through setting up a specific department mandated with advertising its products in the social media. This has played a significant role in increasing