Marketing is defined by many authors in their own ways, but the best defined definitions are mostly focussed on customer satisfaction, customer orientation and customer needs.
Kothler defined Marketing as, “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”
The Chartered Institute of Marketing (CIM), defines Marketing as,
“Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably” –
The Chartered Institute of Marketing not only takes in view the needs of customers, but also in satisfying them in the short term goals but also how to anticipate the needs and demands in the long run to keep the business in profits and also gaining loyal customers.
Marketing can be said is a Philosophy, which explains the needs of a customer and its main focus are customer satisfaction.
I pad is the new product launched by Apple, and New product Development and SWOT analysis are the two methods used to develop it.
Apple, designed, developed and marketed I Pads. It Launched I pad in UK in May 2010. It is also known as tablet computer which was marketed for media consumption such as internet usage, games, music, movies, emails and web browsing as well. It runs on the same Operating systems such as i pod, laptops and i phones. It is basically a touch screen system which is sensitive to fingertips. Since its release in April 2010, it has sold 3 million I pads.
Technique 1: The new product development technique helped to develop and modernize the latest product I pad for the success of an organisation. The eight stages of a new product development used to develop I pad are as follows:
1) Idea Generation: Apple should conduct a survey and know about the views of the engineers, employees of the company, the competitors, distributors and last but not the least the main Consumer i.e. the customer who has to consume the product.
2) Idea Screening:- after generating the ideas from above sources the company should consider the best available options, which are feasible and could be developed at ease.
3) Concept Development and Testing:- The I pad launcher may have come across a proper concept, and this concept to be well presented in front of the Consumers at large.
4) Market Strategy and Development:-A well researched proposed marketing strategy should be taken to launch I pad in the market.
5) Business Analysis:- The business analysis stage stresses more over the cash flow generated by the Sale of I pad and a rough estimation about its achievements of gross sales and the revenue generated from them
6) Product Development:- In this stage prototype of I pad is finally produced and is presented to the consumer, for further views or developing or enhancing the product
7) Test Marketing:- The I pad would be launched within a particular area to monitor marketing mix strategy before national launch.
8) Commercialization:- After being successful testing market stage, the I pad would go for national launch. Certain factors needs to be taken before the I pad is launched nationally. These are- timing, how I pad will be launched, where it would be launched.
SWOT analysis is another technique can be taken before launching I pad in the market.
S= Strength:- The most important strength of the I pad is its small size and light weight
Height: 9.56 inches (242.8 mm)
Width: 7.47 inches (189.7 mm)
Depth: 0.5 inch (13.4 mm)
Weight: 1.5 pounds (0.68 kg) Wi-Fi model;
1.6 pounds (0.73 kg) Wi-Fi + 3G model, the life of I pad is better and durable, multiple touch screen
W= weakness:- The major weakness of the I pad is that it is very expensive a common man cannot afford it as its minimal cost is 400 GBP it has no direct marketing experiences; The staff who sells the Product needs a proper and thorough training, they should know the ins and outs of the product as its newly launched and if the customer is paying this huge for a tiny computer tablet, it would have 100’s of queries as the product is new and the customer is not aware of it
O= Opportunity= I pad is a product with multiple functions. It has a wide global market and so the opportunity of business is very wide.
T= threats= I pad being a new product may have impact of legislation, market demand will be un predictable, competitors existing in the market would make the survival of the product difficult by putting in new deals and reducing prices and creating hurdles for the new product to sustain its position and this would also result in the creating difficulty for the new trained staff to hold their positions.
Evaluation by porter’s five forces:
Main Aspects of Porter’s Five Forces Analysis
The original competitive forces model, as proposed by Porter, identified five forces which would impact on an organization’s behaviour in a competitive market. These include the following:
The rivalry between existing sellers in the market.
The power exerted by the customers in the market.
The impact of the suppliers on the sellers.
The potential threat of new sellers entering the market.
The threat of substitute products becoming available in the market.
Understanding the nature of each of these forces gives organizations the necessary insights to enable them to formulate the appropriate strategies to be successful in their market.
Explain the need to be innovative in the market using the appropriate
Principles of Marketing concepts (i.e. Market segmentation and Targeting)
A gorgeous innovation by the Apple Company is an I pad. Excellent speed, best features like fastest web browsing, Best and quick navigation for map searching, Portable and light weight, e reading facility. Touch screen and multi touch screen facility are a very dissimilar and distinct features. These are some innovative features that could be stressed to launch the new product.
Marketing concepts is a philosophy of reading the customer’s needs and analysing them and then fulfilling their demands and needs accordingly and then applying it to the product so the producer’s main aim is achieved of profit maximisation and also to achieve the long term goals of sustaining their position in the economy.
Marketing concepts mentioned below should be used for launching the I pad in the market.
As defined by The Financial Times, “When a business bases its ability to make profits on using powerful selling techniques to persuade people to buy its products, rather than on customer needs”.
I pad has the ability to achieve its sales goals and sustain its position in this cut throat competition, hence the following geographic segmentation can be used to sell it in the market which is new for I pad but not for Apple.
In UK, the market has moved on significantly from a market of rapid growth in the late 1990’s to a mature market where consumers are placing far more value on the equipment brand rather than the network brand. At the same time, equipment operators respond by offering increasingly rich deals to consumers which is an attempt to capture market share. As a result, the proportion of consumer spend allocated to telecommunications has began to plateau.
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Geographic segmentation:- As it is not possible to launch a product in many different places at one single time so it’s necessary to segment and divide the market into different geographical units. It is possible if we divide accordingly with the size of the population density, the class of the society, which would be using the equipment, then the taste and also the affordability of the same. Priority is given to highly or densely populated areas. As more is the population in the area, more is its popularity and this would automatically rise up the sales
Recommend price, distribution and communication strategy for “I Pad” using the Extended Marketing Mix concepts.
The combination of marketing activities needed by an organisation to achieve its focussed targets. The 7 P’s which can be kept as an base to extend market are: Price, Product, Place, Promotion are the 4 main P’s and the rest which are the extended forms of this are, People, Process and physical evidence.
Price Strategy:- The price of I pad should be reasonable so that many people can afford it. A pricing strategy needs to address competitive pricing, of course, but often, a more expensive product may be seen as a superior. Consumers still succumb to discounts and special offers, and most are sensitive to warranty and return questions. All these aspects should be considered when formulating the pricing strategy, as price wars are rarely successful for a company in the long run.
Distribution Strategy: – After selecting appropriate price of the I pad, it can be distributed in the market by different ways. As I pad is a new product, best channels should be chosen to provide the customer with the information they need before buying. It is necessary to analyse how to buyer’s want to purchase the I pad i.e. from retailer, locally, via mail order or perhaps from the internet done accordingly. A number of alternate channels of distribution can also be used for example distributor- who sells to retailer and retailer- who sells to the end customer. Furthermore, it can be done from manufacturer – wholesaler-retailer- consumer.
On the other hand, selective distribution strategy can be used. In this method, a number of retail “outlets are chosen to distribute I pad.
Communication strategy:- Communication strategy plays an important role in order to launch the I pad in the market. The easiest way to promote I pad is advertising. It can be done in print and online media. Different offers can be brought to attract the views of the customers. Besides, it can be communicated by making good relation with the public. Moreover, if an Apple company initiate, sponsorship programme showing the different features of I pad, it could be another way of communication strategy.
Q Identify and comment on measures to monitor and review marketing
Performance of your company.
Basically, marketing performance is the alignment of marketing activities and strategies used to analysis and improvement of the efficiency and effectiveness of the marketing.
The performance of the Apple’s company can be monitored and reviewed financially and non- financially.
Financial method:- It normally focuses on generating and maintaining profit by selling a large number of I pad. It also determines the expenditure of the company on various factors for example advertisement on I pad, salary of the employees, training expenditure etc. It minimizes the extra spending. It generally targets on the profit making system.
Non- financial method:- it looks on various factors rather than financial. As I pad is a new product, It basically focuses on the reputation of the new product and its company Apple. It also determines the goodwill of the company. Furthermore, non- financial sector evaluates the customer satisfaction and customer loyalty because customers are the motto of any company.
The objective of measuring performance is to improve the management of marketing assets by providing quantitative evidence for decision making.
v. Evaluate each stage of your marketing plan and the associated activities
Marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives. In another words, it can be defined as a long term vision of the company. Furthermore, it includes factors such as deciding which customers to target, how to win their business and keep their customers satisfied now and always.
Analysis Stage:- Before putting the I pad into the hands of customers, it is necessary to see the current marketing situation. In this stage, necessary plans are made in order to formulate I pad in the market. It also analysis the organisation’s existing product or services.
Planning Stage:- This is the second stage of marketing plan. After analysing the current situation of the market, new plans are set to develop marketing objectives. In order to sell more i pad in the market and to meet the objectives of the Apple’s company, necessary and effective plans are made.
Implementation Stage:- It is an important stage of marketing plan. After making effective plans, an Apple company should implement them in a correct way. This stage is concerned with the operationalization of the marketing strategy. An Apple’s company should identify to whom and where I pad is sold. It should also focuses on the pricing policies of the I pad; an appropriate price should be fixed before launching. Along with pricing policy, priority should be given to the promotional and distribution strategies. As I Pad is a new product, it should be completely advertise about its features and distributing channels should be declared before selling to the customers.
Monitoring Stage: – It is the final stage of marketing plan. It monitors the controlling plan of the company. it controls the techniques for monitoring the plan’s performance. To launch I pad into the market, different techniques should be applied because an Apple’s company is sending this product for the first time.
Investigate and comment on the ethical responses in marketing of your
Competitors: “Dell I Page” anticipated new entrant. Please identify and
Comment on TWO applicable Ethical examples.
In today’s corporate world ethical marketing is playing a larger role in marketing strategy. An increasing number of consumers are buying products/services because they feel that the products, services or organisations responsible for those are ethical. In response to this consumer demand organisations have increased their focus on ethical marketing. The UK Co-operative bank is good example of an organisation that tries to follow a ethical principal, based on what the customers feel strong about.
As I pad is a new product launched by Apple company, it has to focus on various factors in marketing. It has a tough competition with the I page that is a new competitive product produced by Dell coming into market with distinct features. Following could be the ethical responses.
ï‚· Price discrimination and unfair pricing.
ï‚· Dishonest advertising
ï‚· Miscellaneous unfair competitive practices
ï‚· Cheating costumers , pricing collusion by competitors
ï‚· Dishonesty in marketing or keeping a contact
ï‚· Unfairness to employees and prejudice in hiring.
Ethical marketing is about whether firms marketing decision is morally right or wrong. Two ethical examples that are applicable to I page are:-
Price discrimination and unfair pricing:-The price of the product should be reasonable. It should not be too high as well as too less. It the price is very less there would be loss to the Apple’s company and if the price is too high, it can’t compete with the competitors.
Dishonest Advertising;- It is an important ethical response in marketing I pad because Dell company advertise I page in a wrong way and that may effect to I pad. There should be proper advertising. Advertising should not be done in such a way that can affect to the other product. Furthermore, dishonest advertising can affect the product of the company.
For example a recent study of Vodafone:
VODAFONE MARKET STUDY
INTRODUCTION: Vodafone is the world’s largest mobile telecommunications community, employing over 65,000 staff and with over 130 million customers. The business operates in 26 countries worldwide. Vodafone is a public limited company with listings on the London and New York stock exchanges. To help promote its image worldwide, Vodafone uses leading sports stars from high profile global sports, including David Beckham and Michael Schumacher
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HISTORY: Vodafone made the UK’s first mobile call at a few minutes past midnight on 1 January 1985. Within fifteen years, the network was the largest company in Europe and the largest of its kind anywhere in the world. By the turn of the century, almost every second UK citizen had a mobile – and a third of them were connected to Vodafone.
The Vodafone story is one of investment, innovation and award-winning customer service. Above all, it’s one of growth and the ability to deliver the tremendous benefits of mobile communications, not just in the UK but worldwide.
VISION: To be the world’s mobile communications leader, enriching customers’ lives and helping individuals, businesses and communities to be more connected in a mobile world. Vodafone works hard to mobilise tomorrow’s world, but we need input from your side and you help us shape the future.
FACTS ABOUT VODAFONE:
Industry: Mobile telecommunications
Products: Mobile networks,
Telecom services, etc.
Revenue: â-² US$ 69.138 billion (2008)
Operating income: â-² US$ 12.867 billion (2008)
Profit: â-² US$ 6.756 billion (2008)
Total assets: â-² US$ 218.869 billion (2008)
Total equity: â-² US$ 123.499 billion (2008)
Employees: 79,000 (2009)
VODAFONE MARKETING MIX:
A longer term marketing strategy is underpinned by careful planning and a successful marketing mix. The marketing mix is a combination of many features that can be represented by the four Ps.
ï‚· product – features and benefits of a good or service
ï‚· place – where the good or service can be bought
ï‚· price – the cost of a good or service
ï‚· Promotion – how customers are made aware of a good or service.
ï‚· A product with many different features provides customers with opportunities to chat, play games, send and receive pictures, change ring tones, receive information about travel and sporting events, obtain billing information – and soon view video clips and send video messages.
ï‚· Vodafone live! Provides on-the-move information services.
ï‚· Vodafone UK operates over 300 of its own stores.
ï‚· It also sells through independent retailers e.g. Car phone Warehouse.
ï‚· Customers are able to see and handle products they are considering buying.
ï‚· People are on hand to ensure customers’ needs are matched with the right product and to explain the different options available.
ï‚· Vodafone wants to make its services accessible to as many people as possible: from the young, through apprentices and high powered business executives, to the more mature users.
ï‚· It offers various pricing structures to suit different customer groups.
ï‚· Monthly price plans are available as well as prepay options. Phone users can top up their phone on line.
ï‚· Vodafone UK gives NECTAR reward points for every £1 spent on calls, text messages, picture messages and ring tones.
Vodafone works with icons such as David Beckham to communicate its brand values. And also is the sponsores for the Manchester united
Above the line
ï‚· Advertising on TV, on billboards, in magazines and in other media outlets reaches large audiences and spreads the brand image and the message very effectively. This is known as above the line promotion.
Below the line
ï‚· Stores have special offers, promotions and point of sale posters to attract those inside the stores to buy.
ï‚· Vodafone’s stores, its products and its staff all project the brand image.
ï‚· Vodafone actively develops good public relations by sending press releases to national newspapers and magazines to explain new products and ideas.
CONCLUSION: Vodafone uses marketing to maintain and grow its brand. The Beckham campaign has been a huge success for them and with a 25.3%market share,2nd rank in UK among the network providers and a customer base of 18,447,000 and 100% ownership in UK is going to get forward in the upcoming years giving its main competitor O2 tough fight and will survive in the market.
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