LITERATURE REVIEW CONSUMER BEHAVIOUR

Literature Review Consumer Behaviour

Marketing Plan For Apple Inc's New Product

Introduction

Marketing plays the most significant role in the success of any product or organisation. Whether it is a launch of the new product or increasing sales of an existing product, marketing plan holds a crucial position. This report aims to put forward the marketing plan for one of the world's famous and successful company that is Apple Inc. The marketing plan fundamentally aims for the launch of a new and innovative product by Apple Inc. The marketing plan initiates with a brief overview of the company and its mission statement. The report then provides an overview of the market in which Apple Inc does its business. The market overview entails the competitor analysis for the Apple Inc. The marketing plan cascades light on the internal strengths and weaknesses of Apple Inc as well as the prospective opportunities and potential threats and risks that Apple Inc is exposed to. The SWOT analysis is followed by a brief financial summary of the company highlighting the main figures and ratios for the past years. An idea for the launch of a revolutionary product is then put forward. The idea is followed by the marketing objectives and the marketing strategies for the marketing of the new product. The marketing plan concludes with 3 year forecasts and budgets related to the sales of the new product.

Market overview

Competitor Analysis of Apple Inc

Apple Inc operates in a range of categories from hardware to software to operating systems. Therefore, the number of competitors list is also vast. The major competitors of Apple Inc; however; are Google Inc, Hewlett-Packard Company, & Research in motion limited (Hoovers, 2013). A share of these competitors and apple in terms of market cap is shown in figure 1 (Hoovers, 2012, pp.03).

Figure1: Apple Inc & competitors share in terms of market cap

Brief profiles of the major competitors of the Apple Inc are described below:

Google Inc

Google Inc was incorporated in the year 1998. It is acknowledged as the best search engines across the world. Google's mission is to organize and make available the information across the world in a useful way (www.google.com). Google Inc is considered as one of the major direct competitors of Apple Inc which poses significant barriers to Apple Inc owing to its striking innovations.

Hewlett-Packard Company

Hewlett-Packard Company was founded in 1939 (www8.hp.com) and since then it has been a remarkable name in the technology industry. After Google Inc, it is considered as the major competitor of the Apple Inc. It is world's largest supplier of PCs and other products related to networking, software and servers (Hoovers, 2013).

Research in Motion Limited

Research in Motion limited transformed the mobile industry by launching its product in 1999 with the name of black berry. It is considered as the third major competitor of Apple Inc owing to its pioneering wireless technology. It now works under the name of Black berry across the world (www.ca.blackberry.com).

SWOT analysis for Apple Inc

Strengths

Apple Inc global presence is one the major ...