Evaluation of Apple iCar

This document provides an evaluation of Apple iCar, a new product in the automobile industry. It explains the concept of the product, target market, new market trends, and competitive analysis. The document also discusses the use of AI technology in the car and the brand extension strategies used by Apple. It further explores the STP plan, PESTEL analysis, Ansoff matrix, and the competitive landscape. The evaluation highlights the potential challenges and opportunities for Apple in the market.

An evaluation of Apple iCar

Table of Contents
MAIN BODY...................................................................................................................................3
Explanation of new product........................................................................................................3
Target market of new product...................................................................................................3
New market trends......................................................................................................................3
Competitive analysis...................................................................................................................4
REFERENCESS..............................................................................................................................5

MAIN BODY
Explanation of new product
Apple is one of the top brand and now they are looking to launch their new product in
the automobile industry which is Apple I-Car, This new product is based on the future car
concept. This best technology make this car special is their AI technology which provide better
features and car is fully automatic. Apple company is using the Tauber’s Brand Extension
Options strategies for their brand expansion. This can help them to achieve the high growth in
the market, and they can successful lunch their production with the help of M. Tauber.
Target market of new product
STP plan of Apple I-Car
Segmentation
Apple I-Car will be expansive because of the look and their technology, so they will in
the resign where people live the high class lifestyle (Liu., 2018).
Targeting
Company will target the reach people because they will use the premium pricing
strategy for their new product.
Positioning
Electric cars are not very common, which is why distinctive positioning will be best for
Apple I-Car . The message in the mind of the consumer must be that Apple I-Car is the brand to
go to for electric cars and that it is the car brand the cares for the Earth. There is a
growing awareness about global warming and climate change.
New market trends
PESTEL
Political
Most of the countries government are supporting new concept of electronic car which is
beneficial for the Apple I-Car
Economical
increase in unemployment becoming problem for the countries but this can be good
opportunity for the Apple I-Car because people will work for them in lower wages.
Social

This new trend adopt by the Apple can make the people think that they are giving their
contribution toward the environment.
Technological
Apple I-Car is future car and less with the new technology
Environmental
Beneficial for environment because there is no use of fuel in this car
Legal
Change in tax structure can affect the company.
Ansoff matrix
Market penetration
In this strategy company apple can look to expand their existing product in existing
market.
product development
Apple company can enter the existing market with their new product which is Apple I-
Car
market development
In this strategy company enter in new market with existing product (Subhani and
Osman., 2020). Their other products are the watches and mobiles etc are their existing product
and they can be successful.
Diversification
With the help of this strategy Apple company will enter the new market with their new
product, company is launching their new product Apple I-Car so they can enet6r in the new
market like US, UK and other countries.
Competitive analysis
Company can face the high competition in the new markets because some companies
who are making the cars are their competitions and one of the top technology car concepts can
give Apple company a high competition. TESLA is their competitor because they work on the
technology in their car, and they already have cars which run with the electronic technology.

REFERENCESS
Books and journal
Liu, Y., 2018. The effects of competitors on new product launch and market expansion in the
hybrid car market. Empirical Economics.55(4). pp.1849-1868.
Subhani, M. I. and Osman, A., 2020. Volatilities in Market Shares through Financial
Fundamentals for Global Automobile Industry.