Life Cycle Management Analysis for Apple’s Ipod Essay Example
Life Cycle Management Analysis for Apple’s iPod
MKT / 230
September 6, 2009
Life Cycle Management – Page 2
The Apple iPod allows consumers to download music, videos, and various other entertainment items. The iPod can be seen everywhere from the gym to the local coffee shops. Even automakers have started to install iPod outlets in newer vehicles to draw a new kind of consumers to their autos.
This report will provide some insight into Apple’s product objectives, marketing strategies, introduction phase, product growth, maturity stage, and decline of product in the market place. Product life cycle typically consists of five main aspects: (1) product development; (2) introduction; (3) growth; (4) maturity; and (5) decline.
Various marketing objectives that will help the company achieve the overall product goal are as follows:
Be the leading supplier of MP3 players in all markets in which Apple competes.
Increase product sales.
Increase company revenue.
Increase brand awareness.
Expand distribution to department stores.
Develop a campaign to encourage current users to increase current use of product.
Life Cycle Management – Page 3
During the introduction stage, Apple made careful choices with their marketing strategies by paying close attention to pricing, promotional and placement decisions. The introduction of the iPod transformed Apple into an entertainment giant. Apple’s approach to introducing the iPod to consumers was geared more towards young adults. The iPod was introduced in October 2001, the iPod touted a quicker transfer time, it is easy to use, has a unique look, and is fashionable.
The growth stage in the product life cycle will usually involve a rapid growth in sales. Consumer’s awareness of Apple’s iPod increases during the holiday season it was on just about everyone’s wish list. Since the first iPod hit the market in 2001, Apple has invested in new product features and has developed the next
MKT / 230
September 6, 2009
Life Cycle Management – Page 2
The Apple iPod allows consumers to download music, videos, and various other entertainment items. The iPod can be seen everywhere from the gym to the local coffee shops. Even automakers have started to install iPod outlets in newer vehicles to draw a new kind of consumers to their autos.
This report will provide some insight into Apple’s product objectives, marketing strategies, introduction phase, product growth, maturity stage, and decline of product in the market place. Product life cycle typically consists of five main aspects: (1) product development; (2) introduction; (3) growth; (4) maturity; and (5) decline.
Various marketing objectives that will help the company achieve the overall product goal are as follows:
Be the leading supplier of MP3 players in all markets in which Apple competes.
Increase product sales.
Increase company revenue.
Increase brand awareness.
Expand distribution to department stores.
Develop a campaign to encourage current users to increase current use of product.
Life Cycle Management – Page 3
During the introduction stage, Apple made careful choices with their marketing strategies by paying close attention to pricing, promotional and placement decisions. The introduction of the iPod transformed Apple into an entertainment giant. Apple’s approach to introducing the iPod to consumers was geared more towards young adults. The iPod was introduced in October 2001, the iPod touted a quicker transfer time, it is easy to use, has a unique look, and is fashionable.
The growth stage in the product life cycle will usually involve a rapid growth in sales. Consumer’s awareness of Apple’s iPod increases during the holiday season it was on just about everyone’s wish list. Since the first iPod hit the market in 2001, Apple has invested in new product features and has developed the next