The Ipods Prospects in Terms of Customers and Features - Research Proposal Example

iPod Research The introduction of the iPod by Apple Inc. in 2001 has resulted in enormous sales of the product worldwide. Today, it is regarded as the de facto music player the world over and products and music continue to be released largely in compatible formats. In fact, the rise of the product has had an influence to such an extent that the use of the phrase ‘iPod generation’ has become an everyday slogan. To support its rise in growth and popularity, Apple sold the 100 millionth piece of the iPod in April 2007 and the company claims it to be the fastest selling music gadget in the whole of history. In fact, nearly 70% of all modern cars manufactured since 2007 come with features that facilitate iPod integration. The proposed study will aim to study two aspects related to the product. Firstly, the recent economic turmoil and the slowing sales of the product since 2007 have suggested that the market is slowly inching towards saturation. In this context, the research will study this area with the belief that consumers are unwilling to replace their old iPods for newer and sophisticated versions of the music player. Also, it will also be ascertained whether the crisis has discouraged people from spending on consumer products other than essential supplies such as food and clothing. Studying from this perspective will also benefit the study as this would help determine the strategies that Apple is adopting to overcome the changing demand in the market. In doing so, the study will analyze approaches such as pricing strategies and innovation that the company is believed to depend upon in fulfilling its targets. Secondly, there is also widespread opinion among market experts that Apple has for long succeeded in boosting the sales for other products such as Macs due to the introduction and continued perfection of the iPod. In this context, the study will aim to establish through requisite analytical methods whether this is really the case. This situation is especially interesting as during 2007, apple sold nearly 1.6 million Macs and 21 million iPods, resulting in massive growths of 28 and 50 percent respectively in their respective markets. So far, sales of the iPod have increased by over 35% on an annual basis. All these figures substantiate the belief in the argument of the relation between sales of Apple’s different products and the resultant impact on its competitors. Further, Apple has sold the product in many markets and concentrates especially on markets in the United States, United Kingdom, France, Japan and Australia. It would be interesting to determine the pattern of growth that the iPod has experienced in these individual regions and identify the relevant factors that have led to such patterns. It is also interesting to note that the introduction of the iTunes store, Apple’s online musical hub, has benefited immensely in popularizing the iPod as a versatile music player. In identifying the relationship between the iPod and iTunes, there is a huge potential in determining the response from the music industry towards providing their music online through the store. Further, the overwhelming public response to the trend of online content provides a magnificent opportunity to determine characteristics in the online world that are likely to shape the sales of electronic consumer products. The influence of the iTunes store is particularly significant as it now accounts for an overwhelming 90% of all music downloaded by music enthusiasts in the United States. The fact that consumers have to pay a small fee for quality music despite the presence of illegal file sharing programs is an interesting phenomenon to examine in this context. The iTunes store is now available to consumers from 25 countries and the company intends to expand these into further markets through establishment of relationships with local record companies. Research methodology The proposed study focuses on one of the most revolutionary products ever to have been introduced into markets in recent times. The iPod consists of several unique features that have struck a chord with the mass population across the world. Likewise, the level of growth and patterns in sales has been different over the past years since the product’s introduction into the market. In order to conduct the proposed study, it is aimed to source information from a variety of sources. The various features of the iPod and perception among users have been discussed at length in several books that concentrate on various aspects ranging from product analysis and technology to market research and competitor analysis. There exists a plethora of information within such literature and the study intends to derive benefit from such secondary sources of information. The selection of the various sources of data has been taken with an overview on the impact upon the results. In this context, the current financial crisis and the changing preferences and consumer spending in the recent past have called for the need to identify the latest trends of iPod sales. Investigating the perceptions of the users with the usability, features and innovation as well as their opinions and preferences for the iPod can only be done through interviews and surveys. In order to obtain as much information as possible, the study will devise a proper questionnaire containing questions that aim to provide answers to all these different parameters that the study intends to analyze. On a similar note, the study will also conduct interview with market analysts and researchers, who hold a fresh perception of the market and its performance and who will be in the best position to provide insights into future trends in the iPod and music player markets. There are several ways to investigate a topic identified for research study. However, the procedure adopted under the current analysis has been made with a view to being clear with the intentions and the ultimate outcomes of choosing a requite approach. The selection has further bee made with an intention to provide the reader with detailed information on the manner in which the data was collected from multiple and diverse sources of information. Besides, care will also be taken to highlight the ways that have been utilized to aggregate and process this information according to generally accepted principles and practices of study. In this context, as the research depends predominantly on the questionnaire methodology as part of its primary approach, the reader will be provided with due information on the various entities that responded to the questionnaire, whether the range of people who responded are adequate for determining consistent results and whether the answers identified provide a reasonable range of options to choose from. It must be mentioned here that the questions in the surveys will be kept simple, legible and require respondents to reply in very easy and small answers. The methods adopted for undertaking the research will always be monitored to align them adequately against the objectives of the study. As the study also looks to investigate the perceptions of consumers towards the newest versions of the iPod, it is important to identify several consumers who can provide valuable insights. This will be achieved by registering the questionnaire in various online forums and sites specializing in online surveys (such as survey monkey), which will then be promoted among iPod enthusiasts and customers so that they can submit their response. It is expected to obtain at least 300 responses from people across the world through this method. However, no research is devoid of problems and this is true even in our case. Although information from market research is sometimes confidential, the research will approach several individuals and companies specializing in this aspect. As such, even if a few companies decline from providing any information, the study will certainly succeed in attracting a few valuable responses. Further, it is believed that consumers may be reluctant to devote time to provide answers to the survey thinking it to be like any other marketing tool. However, the study understands this vulnerability and will make every effort to promote the scientific and research based motivations behind this study when promoting and encouraging users to provide their inputs through the surveys. The purpose of undertaking this market research is to utilize a systematic process to gather information from the market, record this information and to analyze information pertaining to consumers, competitors and the consumer electronics market in general. This study will help understand the future strategies of Apple with a view to enhance the sales of the iPod and fine tune its existing position in the market towards better consolidation and stability. The study will help identify sections of consumers who will purchase the product along the lines of age, geographical location, music content and pricing. This will provide a clear overview on the niche segments for Apple Inc. thereby helping understand existing and future customers in a better manner. By following these strict guidelines, it is hoped that the study will achieve its ultimate objectives and provide a very good overview of the iPod’s prospects both in terms of customers as well as features. Read More