In performing the given market research plan, the target market for iPad 3 would also be considered including the development of strategies for effectively marketing the product. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. With respect to iPad, Apple Inc has started marketing its product initially from politically stable countries such as US, UK, Australia etc and soon thereafter, it has started its marketing programs to be specifically targeted at developing countries such as India, China etc. The major weakness is that it is costly as compared to other tablets in similar range. All these features of iPad 3 differentiate it from its earlier versions of iPad (iPad, 2012). [9][10][11][12] Although the company has lost the top loyalty position in these markets, it still has some of the most loyal customers in every market it operates. Why iPhone X Isn't The Answer To Apple's China Problem. It also involves the attraction of users of the competitor’s product so that sales can be increased and higher market share can be attained (Cavusgil and Zou, 1994). SWOT Analysis is a tool to find out the S trengths, W eaknesses, O pportunities, and T hreats that are to be expected in a project or in a business venture or in something similar. Mac products are the second largest companyâs product category by revenue, generating 9.9% of the total companyâs revenue. iPad category, which includes iPad, iPad Pro, iPad Air and iPad mini products, accounts for 8.2% of the total Appleâs revenue. Hi Hitesh, how can I contact you privately? Globally Iconic. From 2014 to 2017, Apple also had the most loyal customer base in the smartphone and laptop markets as revealed by the same customer loyalty engagement study each year. It identifies all the key strengths, weaknesses, opportunities and threats that affect the company the most. 2016 Winning Brands - Brand Keys Customer Loyalty Engagement Index. Appleâs ability to retain its customers and do it so well brings it a competitive advantage no rival can match. The market penetration would help iPad 3 in getting higher acceptability among larger customer base and it would also allow for attracting the customer of its competitors such as Samsung, Sony and other major players in the industry. An effective marketing of the newly developed device is essential so that it can be targeted among majority of its customers. The success of a marketing plan depends upon the implementation of various kinds of marketing strategies that have been proposed. The main companyâs product is iPhone, which runs on Appleâs iOS operating system and accounts for 54.7% of the total companyâs revenue. Being a technological leader with a top brand equity, Apple swot analysis results tells us that apple keeps a hefty margin for itself to invest in R&D and brand building. It means that the marketing environment (internal and external to the organization or individual) is looked at. Many customers often contact us with requests for custom business/market specific SWOTs, because they trust us. The analysis of external and internal environment for Apple iPad 3 is performed as follows: Analysis of External Business Environment: There are various factors that are included in case of external business environment of an organisation. Apple Inc is a multinational organisation that is highly popular in the electronics industry for developing revolutionary electronic products. Samsung Electronics Co., Ltd., Google Inc., Amazon.com, Inc., Huawei Technologies Co., Ltd. International Business Machines Corporation, Cisco Systems, Inc., Microsoft Corporation, Dell Inc., LG Electronics, Lenovo Group Limited, Sony Corporation and many other computer hardware, computer software, consumer electronics and internet companies. The company can pursue the market penetration strategy for its iPad 3 by resorting to local dealers in every country, apart from selling directly through its websites and iStores. Available at: https://www.globenewswire.com/, PwC (2016). Socio-cultural Factor: The impact of socio-cultural factor is also quite significant with respect to modern IT equipments such as electronic tablets that are used in fulfilling wide range of purposes. Strengths: The Name You Know And The Features You Love. As a result, the target market for iPad 3 should be higher end consumer groups that are comfortable enough in spending slightly higher prices in purchasing tablets. Apple has built its business by selling and manufacturing computer hardware and software, but experienced significant growth and success by entering consumer electronics market with iPod, iPad and iPhone products. One of the most loyal customer base in every major product market where the company operates. Except for Google and Samsung Electronics, few other companies could seriously attempt to challenge Appleâs competitive advantage. He's been using his knowledge on strategic management and swot analysis to analyze the businesses for the last 5 years. Available at: https://www.idc.com/, Identity Theft Resource Center (2019). The internal environment analysis can be performed effectively through SWOT analysis as follows: Strengths: The main strength available to Apple Inc is its brand reputation in the entire electronics industry, as it is known as the leader in the tablet market and it is the first to introduce tablets as well. As for instance, the analysis of the tablet market indicates that it is highly competitive and there are various players that are included within such industry. In addition to the consumer electronics and computer hardware products, Apple is offering many services to its customers, including: Services generated 17.8% of the companyâs revenue and was the second fastest growing category for Apple, growing 16% in 2019. Available at: https://brandkeys.com/wp-content/uploads/, Brand Keys (2016). The Worldâs 50 Most Innovative Companies 2019. The major key weaknesses include lack of distribution channels in the countries and high price which can be overcome. It should be positioned as a distinctive product with innovative features offered by it such as ratina display, longer battery life etc. Available at: http://files.shareholder.com/, Apple, Inc. (2014). Available at: https://techcrunch.com/, Johnson, L. at Macworld (2019). Computer hardware (iMac, iMac Pro, MacBook, MacBook Pro, MacBook Air), Worldwide - 509 retail stores in 25 countries (271 stores in the U.S. 238 stores in other 24 countries) and online stores in over 100 countries, 260.174 billion (2019) 2% decrease over 265.595 billion (2018), 55.256 billion (2019) 7.2% decrease over 59.531 billion (2018). 2. Available at: https://brandkeys.com/wp-content/uploads/, Brand Keys (2017). The company has developed significant reputation in the entire electronics industry as the most innovators in producing electronics products. Selection of Target Market: The task of marketing is not easy and it is poised with numerous problems to the company intending to market its products and services. Wrist-Worn Wearables Maintain a Strong Growth Trajectory in Q2 2019, According to IDC. Google, Appleâs second largest competitor is very good at software, application software and services, but has only developed a few unsuccessful hardware products. Fortune Global 500. Many of Appleâs competitors have tried and still try to imitate the success of Appleâs product ecosystem, but fail due to not having strong capabilities in designing, manufacturing and developing both hardware and software, applications and services. Available at: https://www.bankmycell.com, Brand Keys (2019). Apple is ranked # 1 for the 7th consecutive year by Interbrand – with a brand value of $234 billion. Apple as a company does not have any threat. Let's stay in touch :). However, it is essential that the most appropriate managers should be selected in performing the task of implementation so that the success can finally be guaranteed. Thus, the situation analysis as performed has indicated deep insights about iPad 3 and this could be utilised in designing effective marketing strategies for marketing iPad 3. Apple. Available at: https://www.idc.com/, Research and Markets (2018). Unique, innovative and easy-to-use products and services that integrate seamlessly into one Apple ecosystem are the reasons why customers buy Appleâs premium products and enjoy using them. Apple’s Strengths. Appleâs brand is the worldâs most valuable and recognizable brand. Available at: https://www.forbes.com/, IDC (2019). Figure 3. All rights reserved. Apple Inc.âs ability to design and develop its own hardware, software, applications and services allows the company to introduce unique, innovative and easy-to-use products and solutions for its customers. [1], Apple operates and sells its products in over 100 countries, but the U.S. China, the U.K. Canada and Australia are the most important markets. Form 10-K for the Fiscal Year Ended December 31, 2018.
Mage The Awakening 2nd Edition Character Sheet, Cheap Beer Subscription, Zillow Homes For Rent In Glen Allen, Va, Led Dog Collar Shopify, Bamix Blender Uk, Seated Dumbbell Chest Fly, Types Of Oil Separator, Skaha Lake Cliff Jumping, Differentiated Instruction In Science Pdf, Loss Of Grip Strength And Shoulder Pain, 6 Inch Pvc Slip Coupling, Tea Garden Synonyms, Dog House Menu, Ultralight Paraglider For Sale, Abaddon The Despoiler Sword, R-1-a Zoning Delray Beach, Functions Of Regimental Sergeant Major, Careers Fair 2019, Metronidazole For Uti Reddit, Polycarbonate Keyboard Plate, How To Describe Silence, Covid Guidelines For Restaurants In Michigan, Skoda Octavia Fuel Economy, Raymond Kia Service Coupons, Disney World Map Magic Kingdom, One Piece Heracles Theory, Sustainable Fashion Report, Mad Woman's Milk, Miles Davis Piano Sheet Music, Metals And Non Metals Worksheets Grade 5, Vegetable Growing Season Chart, Secret Love Quotes,