Marketing for apple company - Research Paper Example

Marketing Research for Apple Watch s The secondary data was derived from literature relevant to apple watch. Smart watches are not new and they date back to 1972. Apple launched the Apple Watch in September, 2014. However, dominant technology firms, such as, Sony, Motorola, and Samsung are already major players in the smart-watch market. According to Lai, Reitsma, Strohmenger, Gownder, and Mitchell (2014), smart-watch predecessors, for instance, Sony Smartwatch and Samsung Galaxy Gear experienced sluggish sales.

This has created a psychological barrier to the adoption of Apple Watch. The actual market opportunity for Apple’s wrist watch is based on uniqueness and the increasing demand for Apple products. According to the recent history, behavioral trends, and industry expertise, particular experiences will drive the uptake of Apple Watch. Apple sold nearly 5 million iPad units in the first two quarters of release and Apple Watch is no exception.According to a study by ABI Research on wearables and smart accessories market research, it was found that iOS will gain a 35% share in the universal smartwatch segment by 2015, just behind Android at 42%.

 Pie chart on wearables and smart accessories market.Studies have indicated that Apple has a track record for developing products which have revolutionized people’s lives. With regard to marketing data, the smart watch will be able to locate the location of consumers. As the wearables become increasingly popular, market research analyst firm has predicted that, in 2015, Apple will successfully dominate the smart-watch market. The shipments of the wearable brands will increase by 129% with 28.

2 million of the 43.2 million sold being smart brands, whilst 15 million will be basic brands (Vasanth, 2014).The sources of primary data include surveys and in-depth interviews. According to an in-depth interview conducted on Ryan Raffaeli, an assistant professor at Harvard Business School, he affirms that Apple Watch is certainly the most advanced smart watch on the market currently. Ryan further points out that Apple Watch introduces various incremental innovations which enhance and combine several technologies which have been evolving in the wearables market in the last few years (Harvard Business School, 2014).

From the in-depth interview, it can be deduced that Apple Watch brings the greatest functional value to the consumer. The smartwatch brings forth user integration within their existing ecosystem. Apple Watch can track biometric and personal data. By forming partnerships with the health care industry, it can improve consumer health and wellness. It is projected that Apple watch will incorporate a broad range of sensors and sync with the heath records of the patient. By syncing and checking health data, such as, blood pressure and levels of glucose, Apple can have the ability to envisage heart attacks.

Furthermore, from the interview, Ryan reports that most people purchase the apple products for the reason that they want to be tech-savvy. Most people have also liked the design of the Apple Watch. Most individuals have reported that the product is aesthetically pleasing as they would have predicted from an Apple product. They further pointed out that the Apple products stands out among other smart watches due to its design and appearance. Apple has also conducted surveys on Apple Watch. To that end, a survey on the wearables market indicates that an increasing number of people are professing to wear smart watches across the globe.

This number is projected to increase from about 1 million in 2014 to an estimated over 25 million by the end of 2015. The shipments also increased by 684% in the first half of 2014.Figure 1: Wearing wearables bands shipments forecast by type.There is a growing interest in wearables by the consumers, especially those who are already part of the Apple ecosystem. Based on the current attitudes and behaviors most consumers are ready to adopt and utilize Apple Watch. The arrival of the Apple Watch has reignited the fledging smart-watch market.

Apple Watch will hit the stores in 2015 and there are already expectations of it dominating the market (Vasanth, 2014). The market is projected to grow to over 300 million in 2020. However, some customers are complaining that Apple watch is overpriced.ReferencesHarvard Business School. (2014, September). Apple Watch: The next big thing or living on borroed time? Retrieved December 11, 2014, from, http://www.hbs.edu/news/articles/Pages/the-apple-watch-ryan-raffaelli.aspxLai, A., Reitsma, R., Strohmenger, R.

, Gownder, J. P., & Mitchell, A. (2014, November). The Apple Watch: What Makes Consumers Tick?: Retrieved December 11, 2014, from, https://www.forrester.com/The+Apple+Watch+What+Makes+Consumers+Tick/fulltext/-/E-RES119705Vasanth, R. (2014, September). Apple Inc. (AAPL) Will Dominate SmartWatch Market In 2015, But Do Customers Really Want One?, Retrieved December 11, 2014, from, http://www.dazeinfo.com/2014/09/15/apple-inc-aapl-dominate-smart-watch-market-2015-consumers-smart-band/