Young marketers elite 2013 assignment 2.1 - tuong_phong

LÊ HUỲNH PHONGPHAN PHƯỢNG TƯỜNG

MARKE RESEARCH - APPLE

ASSIGNMENT 2.1

WHAT DOES APPLE NEED TO RESEARCH BEFORE LAUNCHING THE NEW PRODUCT ?

Question 1

1. Define Objective: Marketing action – New product

•New concept

•Additions to existing product lines

•Modifications of existing products

Apple’s

New product

2. Identifying a potential objective to investigate

Market

• What are the key demographics of your market ?

• How will entrance affect the market/customers ?

• Does the region where you operate have a stable economy ?

Customers

• Who are target customers?

• How do they behave? Where are they located ?

• What’s the profile of an idea customers for business ?

Competitors

• What’s the profile of a typical competitor for business ?

• What are competitor's main strengths ?

• What are competitor's main weakness ?

3. Plan research and gather data ( data collection methods)

Types of research, which include market segmentation, producttesting, advertising testing, key driver analysis for satisfaction andloyalty, usability testing, awareness and usage research, and pricingresearch (using techniques such as conjoint analysis), among others.

WHAT DOES APPLE NEED TO RESEARCH BEFORE LAUNCHING THE NEW PRODUCT ?

Key questions that should be asked in any concept testing research include the following:

Show the clarity and purpose of the offeringIs the purpose of the concept clear and can potential users be persuaded of the product's benefits?

Assess the demand for the product.Does the product meet a need? What is the specific nature of potential users' requirements?

Show the behavior of people buying existing products.How are existing products used, i.e. for how long, how frequently, precisely what for etc?

Identify any gaps in the market.What challenges do people face in using existing products and what requirements are not being met? To what extent are users of current products satisfied with these products and their suppliers?

Show if people are prepared to pay an appropriate price for the new productIs the price reasonable in light of the concept's perceived benefits?

Show purchase intent. How many people are likely to buy the new product – at least at face value as this will certainly be affected by the promotional push.

How likely are potential users to buy the product?

IN THE PRODUCT DEVELOPMENT, WHAT DOES APPLE EXAMINE ?

1. Pre birth - Establishing Needs: Apple recognizes the importance of “new” and for this reason they allocate substantial sums to R&D. Themost effective types of market research studies for product development at this stage of the life cycle are needs-based assessment studies andconcept testing

2. Youth - Stimulating Product Take-Up: Answer these questions: Where does the Apple stand at this point in time? Where do they wish to go?How can they achieve its goals? Research market opportunity analysis, price and advs. testing

3. Maturity – Improving Product Performance: The applications for market research at this stage of the product life cycle echo the applicationsappropriate for earlier stages in the life cycle. this mature stage of the product life cycle include customer satisfaction, segmentation researchand pricing research.

4. Old Age – Determining The Future: The final stage in a product's life cycle comprises the Apple product's decline, with substitutes (oftencheaper or more efficient) and new innovations gradually eclipsing the product as its sales wane and its profits are squeezed.

WRITE THE RESEARCH BRIEF1. Background

“Apple is committed to bringing the best personal computing experience tostudents, educators, creative professionals and consumers around theworld through its innovative hardware, software and Internet offerings.

“Apple designs Macs, the best personal computers in the world, along withOS X, ILife, iWork and professional software. Apple leads the digital musicrevolution with its iPods and iTunes online store. Apple has reinvented themobile phone with its revolutionary iPhone and App Store, and is definingthe future of mobile media and computing devices with iPad.”

Competitors: Samsung, HTC, Asus..

2. Business and research Objective

a. Research objective.

• Identify consumer of Apple for this new product (current Appleconsumer and potential consumer)

• Understand current and potential consumer’s reaction for the newproduct.

• Understand the barriers to prevent them to buy this new product(exclude the price, placing problem)

• Understand the estimation or expectance of consumer about the price

• Understand the consumer’s most attractive point about the product

b. Business Objective

• Explore the information to launch a new product

3. Target audience

Current Apple user (with database available)

Potential user (Competitor user,…).

4. Preferred Approach and methodology

5. Deliverables

We would be looking for a report containing the detail s of the responses per customer contacted as well as recommendations on how to segment the market as per objectives.

6. Timing/ Budget

$25.000$ ( Assumption )

7. The project team’s skill Requirement

The proposal s will be reviewed by Mr.Phong’ s Chemical s marketing team. Major emphasis is Market research. This request for a proposal should not be considered a commitment from Joe Soap’ s Chemical s to award the project to the consultant..

Data source Primary and secondary information

Area of research Suburbs

Research approach Survey methods

Research instrument Questionnaire

Sample plan Personal interview

Sample unit All existing and potential customers