Apple Ipod Marketing Plan
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Assessment task
Marketing Plan
Apple Ipod
Contents
Situation Analysis
Identifying Target Market
Developing Marketing Strategies
Marketing Mix:
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Monitoring and Controlling
Executive Summary
The focus of this report is on new Apple Ipod product that has created increasing demands in various outlets.
This product allows consumers to download not only their favourite music but also books and other literature which can be read and listened to. Additionally this Ipod can be used in your car and in other mobile settings.
This report is for Apple to give a brief description of this product. Within this marketing report there is an insight of the situation analysis of this product, marketing objectives, the target market, marketing strategies that have been used and the forecasted strategies, monitoring and controlling.
Situation Analysis
Market Analysis
Internal Influences
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Management: Effective management is required for the training and development of employees for the continue innovation of Apple Ipod and for retraining sufficient funds during competitor introducing new product.
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Capital Availability: Competition may cause mishap in the cash flow. Sufficient funds must be available when competitors unpredictably put forward their product in the market.
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Technological Adoption: Technology must be adopted to improve overall efficiency. It must be integrated directly into operations (to increase productivity), as well stay on date with the amounts of Ipod’s ordered, made and delivered.
External Influences:
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Competitors: Competitors will regulate what, when, how and why strategies will be adopted. The introduction of new products will greatly influence Apple Ipod.
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Overseas Influences: The breaking down of barriers between countries can increase the sales of the new Apple Ipod, as more people are made aware of the product.
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Demographic Patterns: Males and females from the age of 12years and over will be in favour of this product because of its new innovation to be able to not only play music but also books and other literature which would in fact appeal to them.
Product Analysis
Product Lifecycle
X- The stage that Apple Ipod is currently in.
Apple Ipod is currently in the growth stage, where more and more people are aware and purchasing the product, increasing product demand. Sales are growing rapidly and profits are rising quickly, however competition is increasing as competitors are more cognisant of the tactics of Apple Ipod i.e. using new features to market their product. During this stage there are also opportunities for wider distribution, which will result in higher sales.
SWOT Analysis
Strengths:
Weaknesses:
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There are enough financial resources that are allocated for the operation of this product.
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Appealing to both males and females
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Good competitive skills
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Past products have had a good reputation
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Advanced key technology
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Product innovation skills
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The product has a narrow product line therefore unable to expand into other markets
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High prices may push potential customers to competitors with affordable prices
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Introducing a new product, when the niche market is already controlled by other competitor’s
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Poor use of promotional strategy, as consumers were not properly