Principles of Marketing: Apple Brand Extension and New Product Launch

Principles of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
METHODOLOGY..........................................................................................................................3
FINDINGS.......................................................................................................................................3
Existing brand and Brand Values................................................................................................3
Description of the Target Market................................................................................................5
Analysis of the New Market, including Trends..........................................................................5
An Explanation of the New Product...........................................................................................5
Evaluating Competition..............................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing principles or Principles of Marketing is the concept which agrees upon using
the marketing processes and phenomenon's effectively in development and building of marketing
strategies and plans (Sari and Gultom, 2020). The chosen brand for the report is Apple and the
chosen product for utilising the brand value is Apple Watch. It is an American Multinational
Technology company which was founded in 1976 and presently leads the IT industry and
market. The present report will be conducting research in regards to existing brand of Apple and
its watch for developing evaluation for the new product marketing and launch.
METHODOLOGY
There are number of methods and ways in which research can be conducted and data
collection processes can be used. The most common and widely used processes are primary and
secondary. For this research secondary method is used where information which already exist in
market is extracted and used for the purpose of completion of the assignment.
FINDINGS
Existing brand and Brand Values
Brand is a name given to a product or a service by the company for rendering its own
identity and uniqueness in market. In simpler words a brand is a name through which public
recognises a product or a service which exist in market.
Brand Extension is a process when company needs to and wish to expand by using one
of its established brand value of existing product or a service for a new offering. There are
certain models of brand extension one of which is Brand Identity Prism which was established
by Jean Noel Kapferer in 1996.
As said by Kapferer a strong brand can make use of all the aspects of the Prism in making
concise, clear and appealing brand image or identity in market. The model works in a Prism with
number of key elements that are as presented below in regards to Apple underneath: