Advanced of Apple Company - Business Plan Example

Marketing plan and number and The plan and what it hopes to achieve Apple continues to make huge strides in the information technology industry since its inception in 1976. The company has over the years offered innovative products in computer hardware, software as well as electronics like mobile phones. The company delights in its success to make life superior and easier for populace who consume its products (Gould, 2001, p. 42). Using the latest technology and innovation that the industry has to offer, Apple has continued to develop and come up with better products and services, most lucrative being the SearchIT. The SearchIT feature is the innovation that assists customers to track their belongings or missing possessions. Although previous technologies have sought to provide the services, SearchIT provides a completely new service to consumers. Earlier technologies installed metal chips into gadgets as a way of tracking their items, a system that the company hopes to put to an end. The company uses the most updated technology to configure valuable items such as phones, laptops and other important items with a global network that can track the items within seconds of their loss. Key elements in the internal and external environment The employees make the most important group in this implementation, mainly being the drivers towards the marketing plan. They provide and sell the products to the customers and are important to the research. The customers have embraced the idea, being a motivator towards securing their valuables from theft. Apple’s reputation will be critical to the success of the marketing plan for SearchIT, being the most important element in the company’s image as well as the image of the new product. The external environmental factors The technological changes will affect the SearchIT feature, and continuous improvements will have to be carried out for it to remain competitive. Apple faces competition from other technology firms in the industry, and this will be a critical fact to analyze as the feature is implemented. The favorable economic environment will boost the marketing plan for the SearchIT and will be a major boost as the company seeks to expand its products and services around the globe to popularize the new feature. Primary research Research done reveals that the product’s introduction Is lucrative and it will provide the necessary revenues for the company. On this note, more than 79% of the customers who were involved in a study conducted by the company applauded the new product, and postulated that the new features in the product will improve the security of the items (Sutherland, 2011, p. 83). Of this group, 56% felt that the network used should be incorporated in their cars as an additional tracking feature to supplement the traditional devices. Reports on the employee responses to the survey indicated that more than 89% of all respondents believe that the feature will gain popularity and will earn revenues. They contend that the demand for the product has been rising and that more clients are willing to try out the new feature in their gadgets. In conclusion, the product’s value is great and will offer a new experience to Apple customers, who are willing to discover the features of SearchIT. Prescribed goals and strategic approach The goals of the plan are challenging to formulate due to the realistic approach they should employ. The company aims at making the product available in all its stores within a period of one and a half years. The company will also ensure regular checking and update of the feature for its continued use after every six months. The stock holding of the company will be expected to ascend within the next two years by more than ten percent. Apple will employ a strategic online marketing tool to popularize SearchIT. Further, all the company Stores will participate in popularizing the feature. Further, the company will seek the support of new teams of professional salesperson who will spearhead the marketing process. The use of commercials will also help to reach more customers even in countries outside the United States. Key actions that are outlined 1. Distribute the product in all Apple stores 2. Hire salespersons for the campaign 3. Develop commercials for the marketing campaign 4. Update the product in the online platforms Company description Apple traces its history to April 1976, when its founders Steve Jobs and Steve Wozniak formed the company in California. The company was later incorporated into the following year. In retrospect, the company’s aims at the time focused on selling the Apple personal computers, from where the company has grown to its present state. The company is widely known for its products that utilize modern technology, ranging from consumer electronics to computers. The corporation has more than 30,000 workers and is one of the most lucrative in the world (Thiessen, 2008, p. 29). Brief background of the company Apple has maintained a streak of good performance since inception, where its initial venture focused on personal computers. Later on, the company was publicized and its two co-founders dethroned the complete authority of the company. However, the return of Steve Jobs as the C.E.O in 1992 transformed the fortunes of the company, driving it to become one of the most profitable companies today (Cowley, & Fuller, 2002, p. 56). Charge for this marketing plan SearchIT provides an evident value to the customers in the whole world. On this platform, the marketing plan is geared towards achieving this goal, as well as realizing the revenues that the company embodies in its targets. The marketing plan is deemed to popularize the brand and achieve despite the stiff competition, as a way of serving Apple consumers. Overview of the issue The SearchIT Tool is indeed lucrative, and the study focuses on popularizing the product by drawing a plan of the items that need to be considered in the process. A marketing perspective will ensure that all items of importance are put into consideration, and a good plan devised in accordance with the set strategies and goals that Apple hopes to achieve. Situation Analysis Context Analysis The continued trends of innovation in the technology industry may provide challenges and competition for the SearchIT tool. Further, the growth of the industry will mean that continuous updates have to be made on the product for stronger competitive advantage. Competitor Analysis The company has serious competitors in the industry like Microsoft and Dell who have great positions in the industry. Other companies outside the United States like Sony and Samsung have continued to challenge Apple’s products (Cowley, & Fuller, 2002, p. 64). Since the consumer only needs one installation of Search it for the lifetime of the product, consumers will find it preferable. Since the product is fresh in the market, there are no serious competitors, and its unique product will identify the company. However, this poses the challenges of continuous improvement to sustain competitive advantage. Technological and Economical situation Analysis The economic swings may prove profitable or unprofitable to the company in the market. Downturns may make the SearchIT feature a luxury item and therefore make it unpopular (Curry, 1999, p. 112). On the other hand, the growth in technology will increase the interest in the product, boosting its performance and acceptance of the customers. Political, legal and cultural Analysis i. Changes in the budgetary allocations for technology could provide more funds for the SearchIT equipment. ii. Legal requirements to install the tool in all electronic gadgets as a security measure may reap fortunes for the company. iii. Increasing population and changing tastes of the consumers may provide additional market. Internal Environment Analysis i. The company’s internal organization gears itself to adopt the new technology, and the employees are encouraged to take part in this transformation. ii. The competition for SearchIT will not be serious owing to its unique nature iii. The consumers will accept the product because of its added value iv. The company’s culture and reputation will enhance the popularity of SearchIT. SWOT Analysis Strengths The product faces limited competition because the other companies have not realized similar products. In addition, the use of modern technology will boost the product’s success in the market. The reputation of the company’s brand is also an added advantage of the popularity of the product. Weaknesses The installation of the product is expensive and may prove unpopular if strategies are not put in place to cover for the costs of making and developing the product. The product is not known and many consumers may overlook its importance Opportunities Continuous upgrading may enhance the product’s competitive advantage in the market. Further, advances in technology will increase the product’s usefulness and acceptability in the society. Threats The greatest threat is that of competition, when other companies will adopt the technology. SWOT table Strengths Unique product Vast market Good brand reputation Weaknesses An unpopular product Very expensive Opportunities Growing Technologies High growth potential Threats Downturns in the economy Competition Primary Research The subjects of the research process where the consumers, the employees as well as the management of the company. Research process included conducting interviews with the employees as well as surveys on the consumers who were willing to try out the product. Purpose of the research To identify the satisfaction value of SearchIT Key findings 1. Consumers appreciate the value of the product and continue to demand for its features. 2. The satisfaction value is very high. Issues analysis The costs of the product are very high The target market is very wide Goals To enhance the marketing strategies for the product To ease the accessibility of the product to the consumers Objectives Achieve higher revenues from sales made Reduce marketing and distribution costs Marketing Strategy Statements 1. Test the product’s efficiency and performance 2. Employ aggressive marketing campaign 3. Explore other markets Target Market Definition This product targets middle-income earners who are technologically sound in this present age. These people frequently lose items and are forgetful. An estimated 5 million people will be targeted by the campaign. Value Statement 1. Customers should use SearchIT for security of their items 2. The product reduces the of items due to forgetfulness or misplacement Proposition Statement The product value matches the rice charged and customers will be better off with the SearchIT Accessibility Statement 1. The products must be made available 2. The price must be affordable 3. The place of sale must be accessible 4. The promotions used must attract potential customers Communication statement Promotions will be done through: Social media like twitter Television adverts Billboards Radio adverts Marketing Implementation When the testing for the project is complete, the promotion will be done in the whole country. When the product has been rooted in the local market, the international markets will be pursued. This will depend on the research and development exhibited by the local market. Marketing Budget Year Markets explored Cumulative markets Cumulative percentage in the local market Estimated costs $ 2014 7 7 93% 300,000 2015 10 17 89% 370,675 2016 15 32 90% 430,390 References Cowley, J., & Fuller, E. (2002). The apple. Hong Kong: Applecross. Curry, D. (1999). Apple. Springfield, Ill: D. Curry. Gould, W. (2001). Apple. Bath: Cherrytree. Sutherland, A. (2011). Apple. London: Wayland. Thiessen, V. (2008). Apple. Toronto: Playwrights Canada Press. Read More