Marketing Plan

Introduction

The aim of this marketing plan is to introduce the apple watch to the registered customers, and convert the leads into sales. The group intends to use an integrated marketing communication (IMC) reach to maximize the reach and realties the marketing potentials of the various marketing communication channels and media. Because of the different characteristics of the target market in the market niche, the groups will tailor its marketing campaigns to fit the different customer segments. For example, the company intends to use integrated marketing com unction (IMC).

Marketing Mix- 4P S

The product- Apple Watch

Apple’s iWatch which is their most personal product was launched in 2015 which took things to another level. It reportedly sold out within minutes of its release, selling an estimated 957,000 watches. (www.techradar.com). With the apple watch you are able to do things that you regularly do with your iPhone more vastly and efficiently. Apples digital crown is its most essential feature of the Apple Watch. Most watches crowns helps them to set or change the time and date but with apples digital crown you can use it as a home button, you’re are able to zoom in and out of photos, or even put in information. As we all know Apple is known for its simplicity. Apples face is extremely similar to you home page of your iPhone making it simple to figure out and know your way around your watch in no time. A retina display is the primary surface for every interaction with Apple iWatch. Its high pixel density makes numbers and text east to read at a glance even when you are moving. (www.apple.com/watch) A great new dimension that the iWatch offers is the ability to distinguish a press from a tap. There are features you can access by tapping the screen and certain features you can access by pressing the screen. Now let’s talk about how much an Apple iWatch is going to cost you. The iWatch varies from $350 which is the Sports Edition to nearly $20,000 which is the gold Apple Watch Edition. . There are 38 different watch designs. Because the Sports Edition is the cheapest of the 38 designs it most likely will have to higher sales because it is affordable to mostly anyone. There are about 6 different colors for the band with the basic sports edition. Its higher end product is valued at $17,000. It is the 18 karat rose gold case and rose gray modern buckle, you can also get the same rose gold case with a bright red modern buckle. (www.techradar.com) Apple has a magnetic charger that comes with each device but because of high demand an extra one requires preordering. There are two sizes for the watch, the 1m and the 2m, one for $29 and the other for $39. Apple watch only works with a newer model iPhone, the iPhone 5 or later and requires the iOS 8.2 software. With the innovation of the iWatch, it is sure to be a thing to remember.

Promotion

The company will market its products across various channels. For example, the company intends to use television, radio ad billboards advertisements. The company’s marketing budget will be apportioned amongst the three advertising channels. The TV advertises nets will be done during prime team such as at the top of the hours when news is being aired or during prime time. Because of the specific characteristics of the target segment, demographics and psychographics indicates that these people will also probably own mobile phones, therefore internet marketing will be used. For example, both social media marketing and email marketing will be used. Additionally, because of the market seasonality, the products will mostly be sold during spring and summers. This will may be targeting students and holiday’s people, the students will be targeted with the unique watch capabilities such as surfing and sending emails attachment including assignments and office applications.

Price

Because the customers are price sensitive, the pricing decision will be customer focused as the company intends to use the the penetrative pricing strategy. The company will minimize its profit cap to penetrate the, market. The company aims to realize only $10 per product sold, therefore, the company will sell below the required retail prices to attract as many customers and also, bundle the products with free internet bundles and airtime in collaborations with local carriers. The company does not intend to use flexible pricing system so the prices set will be final unless the market research indicates otherwise. Additionally, there will e no price discrimination on customer segments, but there will be price discrimination on products types.

Place-

The apple watch will be sold at the company’s headquarters and through other local distributors.

The company will strive to ensure that the customer can find their orders at their own designated places.

The company will ship the products to the customers on demand.

The company will use intelligent logistics to distribute its predicts to all the local distributors to maximize products availability all the time.

The company will use both its transport system and engage other commercial transporters

Integrated Marketing Communication (IMC).

The company will use both traditional and nontraditional marketing channels to market its products To communicate its brand message.

This planning process will help the company to reach the prospects consistently. The IMC is preferred to help the organization maximize its reach.

The company will depart fro the traditional media to the digital interactive media which will help it to interact with both potential and existing customers.

The company will combine both mass media and specialized media to in its marketing effort.

The company will social media such as Facebook to introduce and engage the customers

Advertising

According to Shimp (2010), marketing tools include advertising, personal relations, personal selling, and event marketing

All these marketing tools will be used base don their relative effectiveness in marketing the products.

Additionally, the budget will determine the budgetary allocation of each marketing tools

The company intends to allocate more funds to the most effective marketing tools.

This will not only drive customer loyalty but also help in maintaining a competitive edge over it s competitors.

TV adverts- Because of the wide coverage, the company will allocate 25% of its budget to TV adverts

Radio advert- the company will alcoate10% of its marketing budget for ratios advertisements since it is not as popular as TV.

Personal selling- because o of the interactive nature of personal selling, the company plans to allocate 20% of its budget to personal selling.

Public relations- the company will employ a public relations officer to the public image of the company at 10%. They will analyze trends, and predict the consequences of the company’s actions

Sales promotion- this will include the issuance of coupons, free samples and test marketing. The budget will be 20%.

Social media marketing- the company will pay Facebook and twitter to deliver the targeted messages to the customers. This will cost the company 20% of its marketing budget

Event Marketing

The company will hold events, rallies,. conferences, and other get together parties for launching the watches

During the events, potential users will be allowed to test drive the products to see the features

The users will also be allowed to ask question

The customers will be allowed to buy the watches at the venue to make special orders at discounts

The company will also provide free services such as repair, software update and other apple products related services at the venue

Outdoor Advertising

Outdoor advertising include billboards and other signage systems

the company will acquire site licenses to place its advertise on the billboards at a fee

the billboards are considered effective because they are conscious and can be read from a distance.

References

Wang, C. (2014). AppleiWatch Marketing Plan. Retrieved from https://prezi.com/socvdh42tm32/apple-iwatch-marketing-plan/

Booton, J. (2014). Apple’s healthy iWatch to target couch potatoes, too. Retrieved from http://www.marketwatch.com/story/apples-healthy-iwatch-to-target-couch-potatoes-too-2014-09-08

Breakenridge, D. (2012), Social media and public relations: Eight new practices for the pr professional, New jersey: FT Press

Phillips, David (2006), “Towards relationship management: Public relations at the core of organizational development”, Journal of Communication Management(Emerald Group Publishing Limited)

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