MARKETING PLAN

Marketing Plan For Apple Inc's New Product

Introduction1

Company overview1

Mission2

Market overview2

Business overview2

Competitor Analysis of Apple Inc3

Google Inc3

Hewlett-Packard Company4

Research in Motion Limited4

SWOT analysis for Apple Inc4

Strengths4

Weaknesses5

Opportunities5

Threats5

Financial summary6

New product idea for Apple Inc6

Marketing objectives7

Marketing strategies7

Market segmentation7

Target market8

Marketing Mix8

Product8

Place9

Price9

Promotion10

Three year forecasts and budgets12

Sales budget for the year 2014-201612

Budgeted income statement for the year 2014-201612

Conclusion13

References15

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.

Company overview

Apple Inc is a well established name in the technology industry. It was incorporated in the year 1977. Apple Inc designs, produces and markets various products related to mobile communications, computers and media devices. It products includes a number of software, networking solutions and digital applications (New York Times, n.d.). In terms of market capitalization, Apple Inc has turn out to be one of the most valuable companies of the world (Forbes, 2012).

Mission

The mission statement of Apple Inc as mentioned on its official website is “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.”

Market overview

Business overview

Apple Inc operates in the technology industry. It is a fast growing industry with rapidly increasing number and pace of innovative technologies being introduced by the different companies operating in the market. The target market for Apple varies according to the different range of products and services it offers. Subsequently it faces different intensity of competition in different markets. The potential of the markets targeted by Apple Inc; however, is great because of the increasing demand of the new and ...