Successful Marketing Launch of a new product Assignment

Successful Marketing Launch of a new product Assignment Words: 1497

Referring to the academic journal Successfully launching your product: getting it right when launching a new product the main reason why failures occur is because companies fail to understand the consumers needs. However, Apple is very good at giving the customers what they need and ant. The phone 6 has been massively upgraded from the phone 5, with a new retina display with a bigger screen also appealing to the new market called the ‘Payable, which is a phone between the size of a phone and tablet. Another reason why some companies fail at launching a new product is poor cross-functional communication. Again, Apple has successfully avoided this common problem because they have great communication with the consumers, whether it’s through advertisement, social media or its keynote speeches.

On the other hand, there are also elements that heavily contribute towards he success of a new product launch, and according to the academic journal Successfully launching your product: getting it right, they are “A robust product development and launch process”. 2 1 strongly believe, in terms of a robust product, Apple has one of the most solid products in the market with the phone 6. The product itself has been manufactured with precision and care, catering to needs of the customers. Therefore Apple should have no problems in the aspect of the product having problems when launched.

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Another element that contributes towards the success of a product launch is he understanding of the marketplace. It is vital that companies take a step back and fully understand the marketplace in which their product is going to be operating in, it is also important that the company fully understands the “customer needs so as to become customer centric rather than product centric”. Again, I strongly believe that Apple have successfully complied with customers to gain knowledge upon the market it will be operating in.

Moreover, according to the book Principles of Marketing, it is also vital to build a deep down brand customer relationship. In terms of Apple having a pep down customer relationship, I think they have established a strong connection with its customers. Firstly the Apple logo is located everywhere, especially in cities like London and Leeds, where you see adverts from on the bus to being located on billboards. The Apple logo is one of the most known logos in the world.

During the late ass’s it is arguable that Apple changed the world with the phone 1st Generation (1 G) , they had previously been hailed for changing the way we listen to music with the pod, but the phone GIG was on a different scale. They were the first company to have introduced a touch interface on a mobile device. This has indeed been a main reason why Apple has such a large image brand today and is market share leaders in the mobile market. Additionally, Apple most definitely outspends its competitors such as Samsung on its advertisement.

Apple has done well to build a relationship with its customers. Beyond, technology and software, Apple have marketed a way of life, a real passion for technology, people didn’t just use Apple products they experienced them. 3 Furthermore, another technique Apple has used very successfully is the use of Digital Marketing. Digital marketing is mainly used via the Internet. The Internet has become an everyday essential to the human, and thus the reason for why big name companies like Apple have started to utilize this as a tool of marketing.

Apple has used the Internet in various ways in order for their phone 6 to sell, for example search engines. Search engines are key for Apple, because when someone types a keyword, their product will appear in their search, increasing the likeliness of that consumer to view and purchase that product. 4 Lastly, in the Academic Journal Benchmarking: An International Journal, it States that price reflects a companies positioning and for consumers it may be a measure of the products quality. If this is the case then this shows that Apple’s pricing scheme shows the quality of level that their product the phone 6 is at.

The phone 6 starting price is IEEE, which is a heavy price tag but the matter of the fact is, the phone still outsells any phone currently in the market, whether its an ETC One or Samsung Galaxy SO. This shows any competitor that the phone is of a very high quality if customers are still buying the device at such a steep price. Marketing Application by the Company Apple has a lot of various prod cuts and every one of those products has its own target market. The phone focuses on selling in the mobile market and in the 2006; phone was the fastest growing segment within the mobile market with every year growth of 72 per cent.

Furthermore in 2007 Apples market share of the mobile market rose to 28 per cent, making the phone market share leaders Firstly, before Apple launches the phone 6, they must establish a key target market. This is vital to any product launch because launching a product thou any knowledge of a target market is likely to result in consumers not to purchase the product. However Apple has established a key target market, and their target market is of people of lower to upper middle class and higher-class consumers.

We know this by the pricing scheme Apple has released. The phone 6 prices starts from IEEE. We know that IEEE is an expensive price for anyone in the working class or skilled working class system. An example of this could be people of the E socio-economic classification. E is a classification for people who have been long term unemployed. Another example of consumers that Apple is unlikely to target their product at is consumers who fall into the category DO, which is routine occupation, and DO, which is semi-routine occupation.

The categories of the socio-economic classification that Apple is most likely to target their product to are C 1, CA, Bal and AH. These categories of people will have more disposable income because of the jobs they have pay better thus they are more likely to afford the steep price of the phone 6. After configuring its key target market, Apple must use an essential marketing tool called the arresting mix. The marketing mix is a set of actions/ tactics used by any company, in this case Apple, to promote the phone 6. Product.

Product is one of the crucial elements to the marketing mix because it sets a centre for the remaining 3 Up’s to work around. Apple has really made a solid product, which makes the remaining 3 AS easier to work with. The quality of the phone 6 has never been better compared to previous phone model such as the phone 4. The phone 4 was heavily criticized because the Phone front and back were made of glass, making it easy for both sides to smash on impact. However the new phone 6 has been beautifully crafted with special types metal making it less easy for the phone to break.

Furthermore, Apple’s other product the Mac is one of the most desired Computers in modern day simply because of its ISO (Operating System) and what Apple has done is to create a mobile version for the handset now making the phone 6 the most desired handset in the market. Also, another selling point for the phone is the fact that the phone is highly compatible with any Mac via the cloud service making it easy for users to transfer products between the two devices. Thirdly, with the pricing part of the marketing mix, there is not much explanation needed.

With an exceptional target market, and with the product and promotions itself to help the target market, Phone has a skimming cost. It is of higher cost as contrasted with most handsets in the market. Another interesting thing about Apple’s pricing scheme is that it offers no discounts on products such as the phone 6. That being said, the only form of discount is in the form of sales promotions or by exchange offers, besides that, there are no discounts on the Apple phone 6. The price remains set across the market.

Another element of the marketing mix, which Apple must consider when launching its product, is place. The Apple phone is present all over the world and is also known to deliver a top-notch service backup in all of these countries. As stated previously, the target of the phone is for premium customers, so therefore the phone is more likely to be found in A graded cities. Moreover, the Apple phone 6 can also be found at Apple stores in places like major shopping centers such as Westfield Stratford or high streets such as Oxford Street. Lastly, the 4th element of the marketing mix is promotion.

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Successful Marketing Launch of a new product Assignment. (2020, May 04). Retrieved October 21, 2020, from https://anyassignment.com/art/successful-marketing-launch-of-a-new-product-assignment-35011/