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Market Planning | Marketing Management Report

INTRODUCTION

Marketing management is the technique to manage organizational discipline which is having main focus on practical and knowledgeable application of marketing techniques, orientation and methods used inside the organization and enterprise to know about the proper utilization of resources into the organization.1 marketing management (2017).On the other hand, digital communication is the way to transfer data from one point to the other one which is to be made with the help of various sources.2.data transmission (2017)

Both are to be used together in the business organizations and specially for the companies those need to promote their products with the help of marketing product mix and marketing mix with the collaboration of all the products include place, price, promotion and product.The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange that satisfy individual and organizational objective. And with this respect the management process is responsible for identifying, anticipating and satisfying customers’ requirements profitability.

market planning

In the case of MAC book launched by “APPLE” there are some planning and analysis made by the company with the help of knowing the planning process which is divided in further parts as:

  1. KNOW ABOUT THE BUSINESS PURPOSE: Apple is needed to do the proper and analytical analysis of main purpose behind the launch of MAC book.
  2. DETERMINING THE MARKET SITUATION: Apple is well known to the fact that there is no such competitor which can harm or interfere in the launch or the object of company.
  3. DETERMINING THE GOALS AND OBJECTIVES: it is necessary to know about goals and objectives for launching the product and to know about the field market valuation, same as done by Apple.
  4. CHOOSE ........
ganization.1 marketing management (2017).On the other hand, digital communication is the way to transfer data from one point to the other one which is to be made with the help of various sources.2.data transmission (2017)

Both are to be used together in the business organizations and specially for the companies those need to promote their products with the help of marketing product mix and marketing mix with the collaboration of all the products include place, price, promotion and product.The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange that satisfy individual and organizational objective. And with this respect the management process is responsible for identifying, anticipating and satisfying customers’ requirements profitability.

market planning

In the case of MAC book launched by “APPLE” there are some planning and analysis made by the company with the help of knowing the planning process which is divided in further parts as:

  1. KNOW ABOUT THE BUSINESS PURPOSE: Apple is needed to do the proper and analytical analysis of main purpose behind the launch of MAC book.
  2. DETERMINING THE MARKET SITUATION: Apple is well known to the fact that there is no such competitor which can harm or interfere in the launch or the object of company.
  3. DETERMINING THE GOALS AND OBJECTIVES: it is necessary to know about goals and objectives for launching the product and to know about the field market valuation, same as done by Apple.
  4. CHOOSE CUSTOMER PROFILE: market and customer profile both are needed to know about the users or buyers of particular product which is to be launched.
  5. TO ANALISE MARKET ANNALISES: with the help of marketing mix it is easy to analyze and determine strategies for price, product, distribution and promotion.
  6. COMMUNICATION TACTICS: as Mac Book is having a plan to have a communication with educated and more supportive customers this strategy show about outlining all the verified and known know your customer policy and helpful in having a graphic analyses of customer choice.
  7. BUDGETING: it is so useful and necessary part of planning to know your actual expenditure over the product. Establishment of budget is done with the having an overview of all the situations in hand and know about the product deeply even its parts.
  8. ACTIONPLAN BLUEPRINTING: there must be a proper plan to be executed which is should be strictly follow to fulfill all the requirement on time and this plan must have a check over it to know situation during the work has been done.
  9. LONG TERM MARKETING PLANNING: if there is a start to the production it must be for long term and everything needs to get develop by the time so it is needed to be develop time to time to know and have the same power to compete in the market constantly.3. 10 Steps to Creating a Marketing Plan for Your Small Business. (n.d.). (2017)

Main objective behind the launch of mac book by apple is to provide good quality product to the customers who want to invest more in there gadgets and to give Powerful mobile computer which is lighter than others with high resolution display.

SWOT AND COMPETITIVE ANALISES: APPLE INC.

SWOT analysis is being defined as an acronym of strength, weaknesses, opportunities and threats to the company. In the case of Apple inc it is more relevant to analyze and compare the situation of market with relation of other market companies. A SWOT analysis is having a point of knowledge in relation with apple is:

STRENGTHS:

  • Innovative in relation with other companies to have more and innovative products time to time to as it is aware of the changing environment of society. Initially it come with new product launch in the market with MacBook, I pod, I phone, I watch etc.
  • As with the manufactures of smart phone it is in one of the most leadership position to world and become most used and followed by the customers in US with having a survey and found that it is first company which cross 700 billion dollars.
  • Apple is more famous for its high quality products and designs as well as techniques used during manufacturing of products and having knowledge of production and market position.
  • Apple is from one of the companies which is having its focus over consumers. Even, they manufacture products by considering the needs of the customers.4. Bhasin(2017)

 

WEAKNESS:

  • Main and focused weakness of apple is that it is over dependent on the sale of I phone which indicate dependency of the product sale. And according to a survey it is notified that it is having a weak direct distribution of product in India due to inflation and more gap between rich and poor.
  • It is having a policy of low expenditure on development and research part in comparison with other companies.
  • Focus on rich class of the society which may affect the market radius for the company. Due to the selection of customer it will give loss to the company because already the consumers selected is less than all and even if single product become flop will affect the status.5.Jurevicius (2016)

OPPORTUNITIES:

  • Introduction to health related gadgets will give more opportunity to the company to stay for long time in market.
  • If apple think to increase its customer by making products for middle class persons also will increase the market to the company to use their products.
  • For an technology industry, technological advancement is always be an important opportunity, as apple is always be on the top for its technology point of view.

THREATS:

  • Most favored and common threat is about competition in the market, for the point of view of technical industry it is increasing day by day and having opportunity to be increased in future more.
  • As increase in the customer there is a threat to data breach from the companies’ software and to have more knowledge about the customers and with the requirement of customer this threat is still in increasing.

MISSION STATEMENT: APPLE INC.

Focused and main objective, mission and vision of apple inc is to have a world approach with best technology seller in the world. Steve Jobs talk about their mission in an interview and say "Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad."6.Farfan(2017)

Further there is a traditional mission stated by Steve Jobs by saying that they are committed to bring the best in the world personal computing experience to educators, students, consumers and creative professionals through its innovative software, hardware, and Internet offerings.

Main vision in marketing strategy of apple is to go through the market because they want to have a worldwide control and know significant contribution of product. And to know this world situation they opt the product which is highly in demand in most of the targeted areas.

MARKETING AND FINANCIAL OBJECTIVES: MACBOOK

MARKETING OBJECTIVE:

  • Maine target before introducing MacBook in the market are teenagers or professional sector that are in need of such gadgets each and every time. And these are the gadgets which can be used by individual of any age it is not for any particular one.
  • Having looked for premium price strategy to be focused on the view that they are having more customers if there is leniency in the price of product.7.Yeung(2017)
  • And focus on the crowd which is in habit to use such gadgets in their daily life and who are already using the gadgets like apple I watch and apple TV.8. Bhasin(2017)

FINANCIAL OBJECTIVE:

  • Main financial object is to maximize its margins, a financial strategy it has pursued single-mindedly since Steve Jobs returned to the company. And it is helpful to be stable in the market for a long.
  • The second part of the Financial Analysis will review Apple's stock performance, competitors, various financial ratios, market segment. Interest coverage ratios, and dividend payout, dividend yield ratios will be discussed as well. The financial analysis will conclude with my opinion of Apple's its stocks, future prospects and whether it is creating value to shareholders.
  • And now it is to be noted that now there is a decision made last year to implement a dividend process for the same.9.Apple Inc Financial Strategy (2017)

MARKETING MIX STRATERGY: APPLE INC

PRODUCTS IN MARKETING MIX:

  • Macintosh: fall in line of laptops and most famous in US.
  • IPod: useful for music lovers, used to listen music.
  • IPhone: smart phone most famous in whole world.
  • Ipad: look like tablets.
  • Iwatch: used to watch TV any time.
  • ITunes: mostly famous for software and services.
  • MacBook: used by most of the teenagers and professional personnel.

PRICE IN MARKETING MIX:

  • Most of the products are of policy of premium pricing.
  • Apple demands premium pricing for all its products.

PLACE IN MARKETING MIX:

  • Online stores.
  • Apple stores.
  • Trade partners.
  • Helpful staff.
  • Store layout.

PROMOTIONS IN MARKETING MIX:

  • Talking to the point.
  • Advertise more.
  • Elegant promotions.
  • Premium media.
  • Few priced based offers.10. Bhasin(2017)

ACTION PROGRAMS DESIGNED: APPLE INC

Apple try to solve all the problems which are there concluded after the point of marketing mix and to solve such problem there is strategy regarding price of all products at the top of the market which are still based on price related on brand and quality to offset and the price differential.

Regarding the price retailing there are some other strategies to follow concept of premium price and to have a look over the price stability with continue push towards lower cost to make products at there low, while sustaining the same retail price in market. To increases the profit with low cost of production.11.Apple Inc Objectives and Strategies (2015)

IMPLEMENTATION AND CONTROL OF MARKET PLANNING:

In case of companies like Apple there is no such issue of implementation because implementation is easy to determine from introduction or launch of new and advanced products. Thus, the chance of failure of any strategy becomes neglected in the case of developed industry.

MacBook can be considered as a good example of it which has been launched in 2012 but still in market with the same craze as it was before because of good software and perfect implementation and control of marketing planning.12MacBook(2017).Apple is having its full control over the marketing mix with actual support or resources as there is a report that it is possible that they will achieve their main objective to have a most using industry in the world soon.

CONCLUSION:

Marketing mix and digital communication are basic and essential element to create any industry and achieve its objective.

As in each and every company marketing mix and use of digital communication is so common and useful but even after all the strategies there are some loopholes are there which create obstructions in achieving goals, while APPLE INC is the industry which use all the marketing mix and communication in the way to achieve their goals and they are held successful till the time.