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Apple iWatch Marketing Plan

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by

Charlotte Wang

on 13 May 2014

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Transcript of Apple iWatch Marketing Plan

Apple iWatch Marketing Plan
1.Executive Summary
2.SWOT Analysis
3.STP Analysis
4.Marketing Strategy
5.Financial Objectives
6.Implementation
7.Evaluation and Control Metrics

Mission Statement
"Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consume around the world through its innovative hardware, software and Internet offerings."

Vision Statement
“Apple as a whole, envisions itself as the top of the line when it comes to Wireless phones, tablets, computers and laptops.”

2. SWOT Analysis
Rosanna 1130100017
Chrisy 1130100020
Cloris 1130100074
Candy 1131200065
Charlotte 1130100111
Hannah 1130100166


STP Analysis
Segmentation - demographic & behavioral
>
Targeting
-Primary target market: business professionals
Stable income
Specific function requirements
-Secondary target market: entertainment consumer group such as college students and office workers

>
Positioning
-High-tech
-Convenient
-Fashion
-Symbol of high status

Implementation
Implementation
Outline
1.Executive Summary
Marketing Mix Strategy---Product
Price for Apple iWatch: ¥2699 (Business model)
Additional Bluetooth earphone will be provided
Holiday discounts will be offered.
Marketing Mix Strategy---Place
Target market: Guangzhou
Combine the direct and indirect distribution strategy.
E-sales on the official website of Apple.
Products would be distributed to all major retailers of Apple Company in Guangzhou.
Marketing Mix Strategy---Promotion
Technology and word of mouth strategy
-Combine TV and Internet
-Eye catching display
Adervertising
-Product orientation
-Emphasize the unique function
-Change in the regular period of time
Social media
Financial Objectives
Evaluation and Control Metrics
Forecast of Income Statement of iWatch (A store in Guangzhou)
Estimated revenues for iWatch from 2014 to 2016 in a store of Guangzhou
Reference
"7 Key Strategies That You Must Learn From Apple’s Marketing." What 7 Key Strategies Must We Learn From Apple Marketing?. Web. 23 Jan. 2014.
"9to5Mac: Apple iPhone, Mac and iPad News Breaking All Day." 9to5Mac. Web.24 Jan. 2014.
"APPLES TARGET MARKET APPLE INC.  CASE STUDY." APPLE INC.  CASE STUDY.Web. 22 Jan. 2014.
"Apple Press Info Apple Reports Record Results." Apple Press Info Apple Reports Record Results.Web. 23 Jan. 2014.
"Apple Inc." Reuters. Web. 14 Jan. 1924. "Apple iWatch Rumors: Features, Specs and Release Date." LAPTOP Magazine The Pulse of Mobile Technology RSS. Web. 24 Jan. 2014.
3. STP ANALYSIS
Q & A
Team
Allocation
Internal
External
Strengths
Brand reputation and awareness
Successful product lines
Availability of product
Weakness
High dependence on iPhone and
iPad product line
Lack of products at different price
points
Opportunities
Increasing demand and expansion
Emergence of the new provider
Strong growth of advertising market
Upgradeable
Threats
Rapid technological change
Price pressure from competitors
Android OS growth
Competitors move in online market
Categories
Consumer
Group
Age range
Characteristics
Smart watch
Requirements
Entertainment
College students
And Young office
workers
18-30
Relative weak economic capability;
pursue fashion and easily accept new
things
Reasonable price;
fashion appearance;
strong entertainment
functions such as
photograph and Internet
Exploration
(small
proportion)
IT workers and
Smart phone
fanciers
20-30
Great passion for
exploration; pursue
high-tech product
and make full use of
its functions
High configuration;
strong functions and
applications
Business
Business
professionals
30-45
Stable income;
frequent business
travel; middle-upper
class in enterprises
Perfect official functions;
convenience; data safety
and confidentiality; fit
their social status
Marketing Mix Strategy--- Price
Newest iOS system
1. Cool design
2. Advanced technology
Color: Black and white
Size: 1.4 inch display
Wireless synchronization
Health monitoring devices
Wearable computing
Average price
Sony Smart Watch SW2
Samsung Galaxy Gear 2
Geak Watch
¥1500
¥1199
¥1080
¥1999
Health monitoring devices
Wireless synchronization
2014
2015
2016
Price (¥)
2,699
2,499
2,399
Sales volume
1,100
1,000
1,200
Sales (¥)
2,968,900
2,499,000
2,878,800
Cost Of Good Sold (iWatch) (¥)
-1,328,800
-1,108,000
-1,209,600
Gross Margin (¥)
1,640,100
1,391,000
1,669,200
Expense (¥)
-1,967,000
-2,020,000
-2,058,000
Net Profit (¥)
Gross Margin (%)
55.24
55.67
57.98
6,161,100
6,238,900
6,905,100
Sales (¥)
Cost of Good Sold (¥)
Gross Margin (¥)
2,968,900
-1,328,800
Year 2014
Year 2015
Year 2016
2,499,000
-1,108,000
2,878,800
-1,209,600
1,640,100
1,391,000
1,669,200
Growth Rate
Year 2015
Year 2016
-15.19%
20%
Product
iMac
iPhone
iPad
iWatch
Market Share
90% in 2010, 32.4% in 2013
49% in 2012, 28% in 2013
60% in 2012, 30% in 2013
30% in 2014, 40% in 2015, 35% in 2016
Compensation plan
to employees
¥2 incentive pay for every non reject iWatch.
Each worker ¥4000 each year for best practice training.
Compensation plan to customers
Rebates of iWatch to customers who have purchased other Apple products (still in discussing)
Post sale service
Customer service phone number stored in the user guide (contact immediately)
Reply detailed solutions within 7 workdays
Full transcript