Marketing Plan for Apple iPhone 8 the Australian Market †Free Samples

Question: Discuss about the Marketing Plan for Apple iPhone 8. Answer: Introduction The purpose of thismarketing plan is to increase the sales of iPhone 8 in the Australian market. There are many challenges in the market that it seeks to address. The report will also help Apple to make good use of the resources at its disposal. Background of Apple and iPhone 8 Apple is leading in the Australian market in innovation with iPhones, iOS, watchOS, Apple Watch, and other essential technological devices. The global corporation was founded by two college dropouts, Steve Jobs and Steve Wozniak, in the mid-1970s. The company started by developing phone prank tools for individuals who wanted to avoid the high fees associated with long-distance calling. Tim Cook is the current CEO of the company following the death of Steve Jobs. Apple is expected to launch iPhone 8 in September 2017, and after months of debate about how this phone will look like, the company has revealed that it will have an OLED display. This is a new display for Apple, though Samsung has been using it for a few years. Apple iPhone 8 will feature an all-glass design and a bigger screen. In a recent interview, the companysmarketing chief said that the device would allow users to control their smart homes, create calendar events by giving voice commands, and play music. The OLED-display device will have wireless charging and is expected to cost approximately $ 1000 in the U.S. and Australia (Reisinger 2017; Clover 2017). Situation Analysis (PESTEL and SWOT) in Australia There are has been a delay in the launch of iPhone 8 due to some reasons. The political, legal, economic, socio-cultural, technological, and environmental factors in Australia can be behind this. However, most of these factors have also enabled the company to thrive in the market (Palmatier Sridhar 2017). PESTEL Analysis Politics While the Australian market is friendly to global businesses and encourages innovation, recent political developments in Australia may have an impact on Apples ability to introduce and sell iPhone 8 successfully. An accusation that Apple has been pulling ads from Australian Chinese-language media that is not friendly towards Beijing puts the company in bad light. The Australia media reported that the company had done the same in the U.S. and China. The Vision China Times manager who oversees the papers advertising in Australia said that the last time they had iPhone ads was in October 2015. Australia government official has also been asked not to put on Apple watches when executing their official duties as they could be used to spy the government (Wroe 2016; Palmatier Sridhar 2017). Economics The recent global economic global meltdown affected the stability of many countries. In 2012, as the company was expecting an income of US$ 10.37 per share, it reported US$ 9.32 per share. Instead of selling approximately 351 million iPhones in the third quarter, it sold 26 million. The company attributed this poor performance to the poor performance in the European market and a strong U.S. dollar. The Australian government, however, responded that its economy is stable and the drop is sale could be caused by competition from similar local and international products (Tindal 2012). Social Factors The anti-U.S sentiment in various markets affects the sake of Apple brands. There are market segments that prefer products made by Australian-owned companies. Changing preferences and tastes on particular products is also a factor. Demographic and urbanization trends in Australia are, however, favorable to the brand. Besides, the product is compatible with most people in the country. In a way, this has also caused a problem. The current hype around iPhone 8 is hurting the sale of Apples products as most people in Australia and waiting to buy the new product (Increasing Awareness 2010). Technological Factors The past decade has seen significant changes in the technological world that have altered the market dynamics. These changes, according to credible sources, put the company on the verge of losing its market position in Australia to Google. Lenovo and HP have remained strong in the PC industry making it difficult for Apple to succeed in the same market (Haile 2016; Burns 2010). Environmental Factors Apple produces a lot of greenhouse effect from its manufacturing process and during the use and disposal of its products. These wastes are dangerous. The Australian government is increasingly focused on controlling the impact of this business. Apple is also more focused on reducing toxins from its products (Mccarthy 2015; Clapperton Corones 2007). Legal Issues The Australian government has put in place product-related laws, intellectual property laws, and patent-related laws. Some of these laws are a major challenge for Apple and other tech players. In 2016, it faced a design-related patent from a small startup. The company has also entered the murky waters of Apple Pay, which can bring it to a new zone of bitter financial regulations (Clapperton Corones 2007). SWOT - Strengths and Weaknesses of the Company Product Apple has many strengths and weaknesses. It is a strong brand and has a substantial amount of resources to engage in various research and development opportunities and remain competitive. The industry expects that iPhone 8 will be unique and meet their communication needs. By launching new products such as Apple pay and iPhone 8, Apple can enter new markets. On the other hand, the company has difficulty dealing with global politics. Together with the current hype around iPhone, it has a lot of work to do (Clapperton Corones 2007). SWOT - Opportunities and Threats Apple has many opportunities and faces many threats too. The company is a global tech giant, and that makes it easier for it to win the political support of the Australian government. It can also rely on its wealth of resources to design technological devices that no other company has done. The plan to launch iPhone 8 has left the industry wondering what awaits them. Political, economic, and social factors threaten Apple. The company should work on being more competitive, the impact of the current hype, and impact of its current pricing schemes so as to remain on top in the market (Mccarthy 2015). Ansoffs Strategic Opportunity Matrix Market Penetration Apple still needs to penetrate the market despite having a considerable share of it. It is already losing its customers to Google and other tech giants. The anticipated iPhone 8 should meet the expectations of customers so that the company wins back the trust of its former customers from the competition. By using better pricing scheme, the company can convince its current users to use more of its products (Ansoff 2007; Jiang 2015). Market Development While market penetration comes with lower risks, Apple should target its non-buying customers in its current segments. If the iPhone 8 is profitable, adequately modified to meet current needs, and targets the middle-class buyers, it will help them develop new markets (Ansoff 2007). New Product Development Currently, Apple is beyond this strategy in the Australian Market. While the company believes that its strength lies in its customers, it does not need to go back to this stage as it already has a new product to launch (Jiang 2015). Diversification Apples SWOT analysis indicates that it can succeed in new markets within Australia with the iPhone 8. At a business unit level, the company will be able to expand into a new market segment in its current industry. The failure of one product will not lead to a collapse. Apple should focus on market penetration and product development as it has passed these stages (Ansoff 2007). BCGs Portfolio Matrix Dogs Dogs tie a lot of money in Apples Australian Market but has little potential. iPhone 8 ties a lot of money, but given the anticipation for its launch, it has a lot of potentials, and therefore, does not fit here (Schawel Billing 2009). Stars Stars have a relatively strong market share and generate a lot of cash. iPhone 8 is popular in the market but still generates no cash. So it does not fit here as well (Schawel Billing 2009). Cash Cows Cash cows are leaders in a mature market and exhibit a return on assets that is more than the market growth rate. They provide the money needed to turn question marks into market leaders. iPhone 8 has no mature market yet (Schawel Billing 2009). Question marks Question marks are growing steadily and consume a lot of money. However, they have no or a low market share. Apple iPhone 8 is at this stage. As per the market analysis, this product, nonetheless, is worth the investment to grow the market share and turn it into a market leader. Objectives of the Plan The objective of this marketing plan is to increase the market share by 70 percent from 1 Oct 2016 to 30 Sep 2017. For this to happen, the product should have been launched by 1 Oct 2016. There will be a delay to meet this timeline. However, using the same timeline, the company can meet this objective by adopting a comprehensive marketing plan (see marketing plan below) (Schawel Billing 2009). Apple iPhone 8 features are unique that has led the current popularity of the yet -to -be -launched device. Apple iPhone 8 is an OLED display device with wireless charging. The iPhone will feature an all-glass design and bigger screen, allow users to control their smart homes, create calendar events by giving voice commands, and play music. Target Market: Psychographics Apples target market is psychographics. Already the price has been set at about USD 1000, so the company should target those who buy good for psychological reasons. Price is not an issue to them. They enjoy quality over the economy and are concerned with their appearance. However, it should also consider demographics as well. Youths and households earning more than 100,000 USD can go for the product (Leverick 2015). Marketing Strategy (4Ps) Product Life Cycle Apple iPhone 8 is still at the introduction stage. The company should strategize against competitors, nonetheless. Currently, these competitors have not known all the features of this iPhone, so they are not able to produce a counterfeit. However, its targeted market like the product and will go for it immediately after its launch. That will take the phones life cycle to the growth stage. Competitors will try to produce cheaper alternatives. Apple will have made profits and at this point be able to use a better pricing scheme. After the maturity stage, the decline stage will come, and the product will be redesigned as part of its intensive growth strategy (Baker 2014). Place Apples will adopt a holistic approach to distribution. So as to increase market reach, the company will use the Apples Stores, authorized dealers, fulfillment services, Telecom companies, and online Apple Store and App Store (Baker 2014). Promotion Promotional activities that emphasize on the companies premium image and high product quality will be used. This strategy will support the business in reaching more target buyers. The components include personal selling, adverting through Apple Stores and its website, public relations, and sales promotion, which may involve selling the old version of iPhone at discounted prices (Baker 2014) Price Apple has been using premium pricing strategy, which puts emphasis on how the price represents the company and its products. For the current case, the company initially put a high price to break even within a year then reduce the price drastically as soon its competitors produce alternatives (Baker 2014) Implementation The introduction of Apple iPhone will begin on 1st Sept 2017. The growth stage is expected to begin immediately given the demand for the product. Regarding the place, already these facilities are available across Australia. Promotion, however, will begin one month before the launch. The premium pricing strategy will be effective from the first day, and the price will be reduced immediately the decline stage begins to set in. (Waal 2013). Evaluation Apple will set up an independent management team in Australia to monitor whether it is achieving its objectives. The success will be measured against the companys SMART strategic objectives. The team will report to the executive committee at least once a week on the progress of the implementation of the marketing plan (Waal 2013). Conclusion Apple has the next years to continue expanding and building its phone and storage empires. Its products inspire the Australian market. However, there are a few business challenges in the market that it ought to sort out so as to remain competitive. The company is set to launch iPhone 8, and it needs to plan strategically to increase its sales within one year by 70 percent. Apple can achieve its objective by implementing this marketing plan. Whenever its implementation team detects problems, it should work with the executives to find the right solutions within the right time References Ansoff, R 2007, Special memorial article: H. 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