Marketing Plan for Apple’s iPhone 8

In 1976, Apple Incorporation

was established with the primary goal of selling the business's first computer, the Apple I. The business has expanded dramatically over the years to rank among the top global technology businesses in terms of revenue as well as one of the top producers of mobile phones. The corporation offers a variety of goods and services, including Mac computers, iPods, iPhones, Apple Watches, and Apple TVs. It also offers a number of services through the Apple Store, iCloud, and Apple Pay, among others. The iPhone was introduced in 2007 which serves as a device that converged the iPod and a smartphone that was internet enabled. The iPhone has grown tremendously over the years to become one of the main brands of the company as seen by the release of the iPhone 8, iPhone 8 Plus and the iPhone X which is a premium model targeting high-end products that is said to embrace technology for the future.

The iPhone 8

which was released in September 2017 seeks to satisfy the changing demands of Apple's consumer base through various improvements in terms of the phone's stability and overall performance in comparison to the iPhone 7. One key feature of the iPhone 8 is Qi-based wireless charging which is not yet fully adopted amongst other mobile phone manufacturers.

Situational Analysis

Apple's situational analysis will focus on the company's internal environment and its external environment. The internal environment will be evaluated using a model known as the SWOT Analysis while the external analysis will be evaluated using the PESTEL Analysis.

SWOT Analysis

The company's strengths include its strong brand image that has grown over the years, an efficient research and development team that leads to adoption of technological advancements, the company's products including the iPhone are quality products that are reliable and the phone works well with other Apple's products and services.

Some of its weaknesses

include its price as price conscious consumers are not able to acquire the company's products and lack of an established name within the corporate world where its competitors including Samsung have been able to dominate this market.

Opportunities for the iPhone 8

include availability of feasible partners on a global scale who would aid in making sure that the company's products are all over the market. Additionally, the iPhone 8 operates on a software that can be upgraded.

Threats for the iPhone 8

include increased stiff competition from major mobile phone manufacturers who will always launch new products with similar features. Additionally, many mobile phones with improved features are flooding the market creating pressure on the price attached to the iPhone. This may lower their sales margins as consumers can get similar features on cheaper phones.

PESTEL Analysis

Considering the iPhone 8 amongst other Apple products are globally sold, the company should take into account various political factors which might affect their sales margins. These include taxation policies, political stability and restrictions on trade.

Economically

, the world seems to have stunted economic growth and so the purchasing power of consumers is not that high. The rate of inflation on a global scale is high which might affect the purchasing power of consumers in some countries.

Looking at the social-cultural factors

, the iPhone has been able to gain popularity amongst people of all age groups. People want to be associated with new devices that have technological advancements and since the iPhone is considered to be a premium product; it is associated with people who are high-income earners. Additionally, more people depend on mobile phones today which increases the demand for iPhone amongst competing products.

Technologically

, the internet is widely adopted on a global scale with increased technological advancements being the main reason why consumers want to buy a particular product. This provides an opportunity for the iPhone 8 to significantly thrive in the market with the adoption of technological advancements including the wireless charging system.

Legally

, the company has to comply with various statutes, regulations and policies that govern how businesses are carried out in different countries. The company has been able to avoid significant law suits related to product defects amongst other consumer complaints.

Marketing Goals and Objectives

The marketing objectives for Apple within the year 2017-2018 as its first year is to attain sales volumes of 500,000 units as well as a 2% market share in the United States. In the second year our main objective would be to have a 15% market share in relation to the total iPhone products that will have been sold.

The company will also carry out various measurements

on the awareness to the iPhone 8 and how consumers respond to the new product launch so as to determine if any changes need to be adopted in future marketing campaigns.

The target market for the iPhone 8

will be students, young professionals and the middle to upper income earners. Students will be able to appreciate the new technology and create more demand for the products by influencing their parents to acquire the iPhone 8. Parents who acquire similar devices for their children will aspire to get a 'high premium' phone in comparison to their children and this is available from the iPhone 8 Plus and iPhone X. The young professionals are individuals who have a lot of disposable income due to future responsibilities.

Business targets for the iPhone 8

will be partnerships with high-end software organizations that will aid in pushing the sales margins of the product. The company should also target mid-sized organizations that may require to use the iPhone 8 for communication amongst employees as well as ease of access to important company information.

The iPhone 8 will be positioned

as both a professional communication device as well as a cool communication device for the youth. The company's main focus in relation to its positioning should be its integration as a communication device with access to entertainment, internet and the Apple Store.

Marketing Strategy

The marketing strategy can be evaluated using the 4Ps of the marketing mix which are the product, price, place and promotion.

The iPhone 8 as a product

will be marketed in a similar manner to its predecessor iPhone products. The iPhone 8 has a full year warranty and our focus to consumers should be on the wireless charging system as well as improvements on performance and stability from the iPhone 7.

The base price of the iPhone 8

will be 699 US Dollars while that of the iPhone 8 Plus will be 799 US Dollars. Consumers who purchase the iPhone 8 within the first month will receive a 10% discount on the purchase price.

The iPhone 8 will be sold

on the company's website, on all its retail stores as well as from select cell phone providers. Displays will be used in the company's retail stores to create awareness of the new phone

Promotion for the iPhone 8

will be based primarily on online advertisements with videos on YouTube, Instagram, Twitter and Facebook as major social media platforms. We also intend to market the phone on TV advertisements across the United States especially in the first five months of its release.

Marketing Implementation

The implementation of our marketing strategy will focus on the target group that was aforementioned. In addition to discounts on those who buy the phone early, previous owners of iPhone products should receive various after-sale services including complementary products. This can also be achieved through price reductions for those who do not buy the iPhone 8 early. This will aid in increasing more awareness of the product and will foster good relationships between the company and its consumers.

Agents within retail stores all over the world should be effectively trained to give consumers quality consumer service. This can be exemplified by a demonstration on how to use the phone's enhanced features for consumers who buy the iPhone 8 to get the acquainted to the new device. Consumers who experience difficulties with using the phone can reach out to us through the company's website where we will provide 24/7 consumer feedback on any issues they might have.

Conclusion

Our team will meet on a regular basis to streamline the various ideas within this marketing plan before presenting it to the company's management team. I am confident that we will be able to achieve both our first year and second year objectives if we do our part in creating awareness to consumers how the device will benefit them.