P6: Develop a Coherent Marketing Mix for a New Product or Service
P6: Develop a coherent marketing mix for a new product or service
Introduction
In this assignment, I am going to describe and explain how Apple uses the marketing mix for one of its latest product, a mini IPad.
Marketing mix Marketing mix is commonly known as the 4Ps: product, price, place and promotion. These are controllable element and it importantly use when determined and adjusted until the right combination that serve the needs of the product’s consumers.
Description of the product The product I have been chosen is one of the latest product of Apple which have been released during November 2012, the mini IPad. This new IPad is available in two models, one with Wi-Fi and another is Wi-Fi + cellular. The IPad mini has two colours which is black and white and the price range is from £269 to £529
Target market The target market that chosen for the mini IPad is male and female between the ages of 19 to 49, those that are currently in further education or in employment. Also, it is also targeting at Apple loyal customers. The reason for this market group is because, people between the ages of 19 to 49 are more likely to use high technology product. Especially with people who are in education and employment because they will need to use tablet for works purposes.
Product life cycle When developing a product, Apple must consider factors such as, customers’ wants and needs, the physical appearance of the product, the quality and reliability of the product. All products must go through a product life cycle which is an important concept in marketing. The product life cycle describes the stage that many products must go through. However, many products will not be able to reach to the final stages because of decrease in demand of product failure. The four stages of the product life cycle are; * Introduction – researching, developing and then launching the product * Growth – when sales are increasing at their fastest rate * Maturity –
Introduction
In this assignment, I am going to describe and explain how Apple uses the marketing mix for one of its latest product, a mini IPad.
Marketing mix Marketing mix is commonly known as the 4Ps: product, price, place and promotion. These are controllable element and it importantly use when determined and adjusted until the right combination that serve the needs of the product’s consumers.
Description of the product The product I have been chosen is one of the latest product of Apple which have been released during November 2012, the mini IPad. This new IPad is available in two models, one with Wi-Fi and another is Wi-Fi + cellular. The IPad mini has two colours which is black and white and the price range is from £269 to £529
Target market The target market that chosen for the mini IPad is male and female between the ages of 19 to 49, those that are currently in further education or in employment. Also, it is also targeting at Apple loyal customers. The reason for this market group is because, people between the ages of 19 to 49 are more likely to use high technology product. Especially with people who are in education and employment because they will need to use tablet for works purposes.
Product life cycle When developing a product, Apple must consider factors such as, customers’ wants and needs, the physical appearance of the product, the quality and reliability of the product. All products must go through a product life cycle which is an important concept in marketing. The product life cycle describes the stage that many products must go through. However, many products will not be able to reach to the final stages because of decrease in demand of product failure. The four stages of the product life cycle are; * Introduction – researching, developing and then launching the product * Growth – when sales are increasing at their fastest rate * Maturity –
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