Product Report (Case Study) - Apple and Apple Watch
Added on 2020-10-23
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Product Report (Case Study)
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1COMPANY AND PRODUCT OVERVIEW..................................................................................1Overview of Apple and Apple watch..........................................................................................1SWOT analysis of Apple and Apple Watch...............................................................................3Three Product Level model for Apple Watch.............................................................................3INDUSTRY OVERVIEW...............................................................................................................4Overview of Australian Product Industry...................................................................................4PESTLE Analysis of Apple and Apple Watch...........................................................................5COMPETITOR COMPARISON TABLE.......................................................................................6TARGET MARKET........................................................................................................................7Detail main target market for Apple watch.................................................................................9Key segmentation variables and corresponding sub categories..................................................9Targeting Strategy of Apple........................................................................................................9PERCEPTUAL MAPS AND POSITIONING..............................................................................10Highly differential competitive benefits...................................................................................11Other attributes..........................................................................................................................12CONCLUSION..............................................................................................................................12RECOMMENDATIONS...............................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONTo sustain in the competitive environment, it is essential for the organisations to focus oncontinuous improvements and launching innovative products. Albeit, even after launchinginnovative goods and services does not guaranteed business success (O’Neill, 2017). There arenumerous examples of products failures which negatively impacts on brand image. In thiscontext, the focus of this assignment is to analyse the key component of marketing plan andreasons for failure of product. Apple Watch will be selected for analysis. It is produced by one ofthe leading American Technology company Apple Incorporation. In the report analysis of thecompany will be made and its internal and external analysis will be described by using precisestrategic tools. The competitive table that describes the competitive position of the product willbe described in this assignment. The target market for the product will be determined by usingSegmentation and Targeting Strategy. Eventually, the perceptual map will be formulate whichoutline the competitive analysis. COMPANY AND PRODUCT OVERVIEWOverview of Apple and Apple watchApple Incorporation is an American multinational technology company that provideselectronic goods and services to the customer. It was founded by renowned entrepreneurs SteveJobs, Steve Wozniak and Ronald Wayne in April 1976 for development and sales of itsWozniak's Apple I personal computers which incorporated as Apple Computer, Inc (Abt, Bray1
and Benson, 2018). In 2015, the company launch its first line of smart watches which relies onwirelessly connected iPhone to perform many of its default functions such as calling and texting.The major target market as per marketers of Apple was youth as it was designed and developedaccordingly for them. Unfortunately, in Australian market, the product was not able to attract theexpected amount of customers and eventually got failed badly. In Australia, the product fails toattain the attraction of targeted customers due to compatibility issues, flaws and competition. Forinstance, Telstra customers are not satisfied with the product as they are finding it hard tosynchronise their account with Apple watch. 2
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