Marketing Plan Executive Summary New product development is the process of launching a new product in the market. New product development for a company has become a necessity more than being an option. Organizations are faced with increased intensity of competition within the industry…
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has been chosen as the organization and the new product is Apple’s I-TV. The report will highlight the proposed feature of the latest product and the entire process to develop and launch it in the market. The report will also highlight the marketing strategy and also the expected returns from the product. Table of Contents Table of Contents 3 Introduction 4 New Product development Process 5 SWOT 6 Marketing Objectives of the company 7 Segmentation and Targeting 8 Marketing Strategy 9 Implementation & Factors affecting it 12 Budget 13 Marketing Control 13 Ethical Issues of Marketing 14 References 15 Bibliography 17 Self Evaluation 18 Introduction The history of Apple Inc. dates back to the early 1976 when the company was established by Steve Jobs, Ronald Wayne and Steve Wozniak. The company is presently headquartered at California, USA (Yahoo Finance, n.d.). Apple together with its subsidiaries develops and markets desktop computers, laptops, portable music players, mobile communication devices and several other digital gadgets. Devices such as I-pad, I- Phone, Mac OS, I-pod are some of the invigorating products of Apple. The company has a worldwide presence and employs at around 370 exclusive Apple stores. Apart from the hardware section, the company also has a strong presence in the field of software. The software segment includes operating systems such as Mac OS and other utility and productivity applications like Quick time player, I-work and logic studio among others (Apple Store, n.d.). The company mainly distributes its product through whole sellers, retailers and Apple owned exclusive stores. Hewlett Packard, Dell, Google and Research in Motion Limited are the direct competitors of the company (NASDAQ, 2012). However companies such as Lenovo, Compaq, Toshiba and Hitachi are also considered as the circumlocutory competitors of the company. The aim of the report is to develop a new product and successfully launch it in the market with a sound marketing strategy. The product is also supposed to provide high return on investment in its initial stages. Now going by the prevailing situation of Apple, the company is mainly famous for its innovative products. Therefore the product which has been chosen for the course of action is I-TV, an innovative television. I-TV: A brief overview The proposed product I-TV is an extension of Apple’s innovative product range. The product will also mark Apple’s presence in the Television industry and can certainly pose a big challenge for the established players. The projected features of the product of the product are:- 3D display Widescreen Strong Audio and Video output Look of Apple The most important feature and the Unique Selling Proposition of the product is that it will be capable of broadcasting all the digital channels of the world. As a result users can enjoy thousands of channels. New Product development Process Nowadays organizations are faced with increased level of competition within the industry (Monczka, 2000, p.1). There are even competitions from the foreign players as well as local players apart from the established domestic players. Hence it becomes necessary for an organization to undertake new product development in order to hold its land in the industry and perform its operations effectively in the market place. The new product development process starts from idea generation and continues till commercialization of the product (Boone & Kurtz, 2011, p.395). The stages are briefly
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The present age of business environment has been dubbed as the age of immense competition characterized by high fluctuations and turbulence in the business environments. Business organizations across the globe are trying to therefore ensure overall organizational efficiency in order to gain an edge over their competitors.
The study presents some benefits of the effective marketing that include increase in the market share, market penetration, ability to communicate a change in the product line, achievement of market dominance, achievement of competitive edge, and increase in the awareness among the customers about the products of the company.
The study affirms Apple Inc. with its iPod and iPhone has been able to become a strong brand and a strong organization. However, there are still scopes for further improvement regarding certain marketing aspects. Although, Apple Inc. have tie ups with various media companies and thereby offer its products as well as its services like podcast producers, it can ‘ink’ more tie-ups with other content providers.
Conclusions : page 15 6. References : page 16 Executive Summary International business and marketing are growing day by day because of the favourable business climate existing everywhere at present. The entry of globalization has revolutionised and rewrote many of the existing traditional business principles and concepts.
Apple leads the industry with its ability to control the markets through innovations. Apple Inc is one of the world's largest technology companies with its headquarters in Silicon Valley reported profits of $1.67 billion. Amongst the competitors of Apple who reported losses was Microsoft which reported a very low profit margin.
Presently, the company has its operations in the Americas, Europe, Africa, Middle East and Japan. In addition, as Marino, Hattaway and Jackson (2000) report, there are retail Apple Stores in US, Italy, Japan, Canada and UK. In the year 2009, the company announced a net quarterly profit of $ 1.23 million.
ex 20 2.Environment is dynamic 21 3.Environment has deep impact 21 4.Environment is multi-faceted 21 A.Dynamic 21 B.Interdependence 22 C.Unlimited Effect 22 Key Business Challenges 22 New influential products: 23 Management: 23 Performance issues: 23 Employee retention: 23 Critical discussion of leadership 24 McKinsey’s 7 ‘S’ Model 26 i.Strategy 27 ii.Structure 27 iii.Systems 27 iv.Shared Values 27 v.Style 27 vi.Staff 28 vii.Skill 28 Burke Litwin Model 28 Organisational culture, communication and change 30 Group and team dynamics 30 Motivation and Job Satisfaction 31 Conclusion and Recommendation 32 Reference 38 Introduction Apple Inc is a US based company headquartered at Cupertino, Ca
hip practices. These core areas define its related HR practices that further affect employee selection, motivation, development and retention. Furthermore, examination of Apple’s leadership shed light on how Apple’s culture affects its employees and business practices along with its product development and supply chain partnerships.
The report will explore the trends and changes in marketing strategies adopted by Apple in past and present. Apart from that, the report will also focus on effectiveness of these strategies in different situations, failures and how the company recovered from failed strategies in past, and understanding exact needs of the consumers.
12 Pages(3000 words)Essay
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