Marketing plan and strategy are very critical in ensuring a newly introduced product will reach the targeted consumers. This will dictate chances of a product either failing or succeeding in earlier stages of product life cycle. Apple’s iPhone has been viewed as an exceptional product.
The main objective of the marketing business plan is to make the iPhone achieve a 30% share in the market. The other goal is to have sales turnover to increase by 13% in the next three years. This will be realized by a strong marketing team with the required skills. It will important to secure management commitment for successful implementation of the plan. All resources required should also be extended to the company.
The company should remain innovative in designing competitive techniques which will ensure the product will outdo other competitors in the market place. Appropriate research should be conducted to ensure innovative security futures are introduced to the software which will make it difficult to copied or duplicated by selfish individual. The company should also continuously introduce more innovative futures to the software which will impact in the long product dominance, in the market.
The company should continue using its premium pricing strategy. Generally, its products are priced high as compared to products of other companies in the industry. Apple’s product prices are almost double or triple the price offered by its competitors. Its target market is middle and high income earners. Such individuals are not that concerned with the price of the products, but what they stand to gain from them.
To achieve the above goals, the company needs to improve on its pricing strategy to be able to deal with the economic downturns. The fact that other companies are offering alternative products that are priced low also means that the company needs to consider lowering the price of some of its products.
Apple has been using different strategies to promote its products and services. It should display the product in shops and supermarkets for customers to view them and also purchase them. It ought to advertise its products over the internet to be capable of reaching out to a large number of customers around the globe. Apple Inc. should run a series of television commercials just before the launch of a new product.
The company offers different types of products, but the plan is concerned with the iPhone. The product ought to be of quality in which customers will get value for their money.
Apple Inc., ought to be able to develop strong marketing strategies for its iPhone. This should include understanding customer needs and coming up with strong strategies enable it to cater for the same The Company needs to improve on its marketing mix to be able to maintain its success. It also needs to examine the strategies employed by the company to be able to achieve continued success.