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I Pod Marketing Plan

Essay by 24  •  January 3, 2011  •  1,228 Words (5 Pages)  •  707 Views

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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

* 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.

* 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.

* 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:

* Competitors: Competitors will regulate what, when, how and why strategies will be adopted. The introduction of new products will greatly influence Apple Ipod.

* 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.

* 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:

* There are enough financial resources that are allocated for the operation of this product.

* Appealing to both males and females

* Good competitive skills

* Past products have had a good reputation

* Advanced key technology

* Product innovation skills * The product has a narrow product line therefore unable to expand into other markets

* High prices may push potential customers to competitors with affordable prices

* Introducing a new product, when the niche market is already controlled by other competitor's

* Poor use of promotional strategy, as consumers were not properly introduced on the products significant use.

Opportunities: Threats:

* Opportunity to capitalise financially

* Develop an admirable/exceptional goodwill that can have monetary value in future

* Opportunity for fast market growth as parents may see this as an educational device as it is able to read books.

* Growing market trend

* New competitors continually enter the market.

* The threat of not appealing to target market at all therefore generating a loss as opposed to profit

* Entry of imitators

* Vulnerable to the business cycle

* Tough laws being placed on internet MP3 downloads

Competitor Analysis

Competitor No.1 Competitor No.2

Competitor Name Rio Carbon (5GB) iriver H10

What are the product objectives? Increase sales of this product by 10% by the next year. To be the leading supplier of MP3 players in all markets in which the company operates

What is the products current strategy? Sell off the products at competitive and profitable prices and maintain customer satisfaction To top competitors product technology by innovating the current product

What are its strengths? Rio Carbon offer their product at affordable prices which appeal to consumer's while maintaining strong quality The iriver H10 out classes the competition in the features that they offer to consumer's

What are its weaknesses? The Rio Carbon is a new competitor in the competition and therefore it may be difficult for them to gain market share because of the unknown brand loyalty The iriver H10 comes at a very costly price

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