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Report on Marketing and Innovation of Apple Watch
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Added on 2020-04-07
Report on Marketing and Innovation of Apple Watch
Added on 2020-04-07
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Running head: PRODUCT AND SERVICE INNOVATIONProduct and Service InnovationName of the Student:Name of the University:Author’s Note:
2PRODUCT AND SERVICE INNOVATIONExecutive SummaryThis present report highlights on the marketing and innovation of Apple watch. However, it hasbeen found that apple watch is an innovation of Apple and it provides many opportunities to theusers. Incorporation of different apps in the Apple watch is beneficial for the users for their dailylives. On the other hand, attractive design and color of apple watch make the customers morefashionable. However, technological innovation is the core area of apple watch that makes itunique and preferable in the current market. Huge competition and alternative product lead applewatch to face the challenge during its launching. However, its innovative features lead it to get astrong position in the global market.
3PRODUCT AND SERVICE INNOVATIONTable of ContentsIntroduction......................................................................................................................................41. Scenario Summary.......................................................................................................................4Key issues regarding phase A......................................................................................................42. Analysis of the technological viability........................................................................................52.1 Factors related to firms..........................................................................................................52.2 Factors related to project.......................................................................................................62.3 Summary of Analysis............................................................................................................73. Analysis of commercial viability.................................................................................................83.1 Factors related to product......................................................................................................83.2 Factors related to market.......................................................................................................93.3 Summary of the analysis......................................................................................................104. Future Pathways.........................................................................................................................104.1. Opportunities and challenges of Apple watch....................................................................104.2. Team reflection...................................................................................................................125. Conclusion.................................................................................................................................12References......................................................................................................................................14
4PRODUCT AND SERVICE INNOVATIONIntroductionProduct and service innovation refers to the subsequent launching of a new business ornew good (Hong et al. 2017). Innovation is not only development of new products but also aninvention of the service or goods. In order to develop a new business, innovation is crucial.Innovation takes place in the development of new products or adding new features to the existingproduct. This study deals with the Apple watch that smart watch developed by Apple. In the year2014, Apple launches this new product. However, various technological, market and product-related factors regarding apple watch will be discussed in this section.1. Scenario SummaryKey issues regarding phase AApple introduced Apple watch in the year 2014 and it is a smart watch with the uniquedesign. Some health-oriented apps are incorporated in the apple watch by IOS. Thisincorporation makes this watch smarter in the market. In the second quarter of 2016 apple watchwas the best wearable device and its sell was significant in this year. In the year 2016, Applelaunches the second generation of Apple watch. However, apple watch has many features and itis connected with I-phone. According to the journal, Juniper smart watch is a product that needsto wait to get a proper market for its expansion. However, this was a big challenge for Applewatch (Mani and Chouk 2017). On the other hand, huge competition is the another issue for thesmart watch as any company comes into an existing market and wants to show them better thanother companies (Hsiao and Hsiao 2017). This type of barrier during the launching was verycommon to the apple watch.
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