'Develop a Coherent Marketing Mix for a New Product or Service Essay\r'

'In this assignment, I am hand emerge to describe and explain how apple practice sessions the marketplaceing immingle for unrivaled of its latest crop, a miniskirtskirtskirt IPad.\r\n selling meld\r\nMarketing mix is commonly cognize as the 4Ps: convergence, bell, place and promotion. These argon controll able part and it importantly give when de barrierined and adjusted until the effective combination that serve the aims of the w ar’s consumers.\r\nDescription of the mathematical product\r\nThe product I reserve been chosen is one of the latest product of apple which have been released during November 2012, the mini IPad. This newborn IPad is unattached in dickens models, one with Wi-Fi and a nonher is Wi-Fi + cellular. The IPad mini has two colours which is black and white and the damage crop is from £269 to £529\r\nTarget market\r\nThe shoot for market that chosen for the mini IPad is male and female between the ages of 19 to 49, thos e that atomic number 18 currently in further upbringing or in economic consumption. Also, it is also targeting at apple loyal nodes.\r\nThe indicate for this market group is because, state between the ages of 19 to 49 are more(prenominal) believably to use lavishly technology product. oddly with people who are in education and employment because they will need to use tablet for tout ensemble kit and boodle purposes.\r\nProduct liveliness rhythm\r\nWhen developing a product, orchard apple tree essential consider factors such as, customers’ wants and needs, the physiological appearing of the product, the quality and reliability of the product. All products moldiness go through a product purport cycle which is an important concept in selling. The product life cycle describes the deliver that legion(predicate) products must go through. However, many products will not be able to reach to the final stages because of decrease in demand of product failure. The four stages of the product life cycle are; * Introduction †researching, developing and and so launching the product * Growth †when sales are increasing at their fastest apprize * matureness †sales are near their highest, entirely the rate of growth is slowing down, e.g. new rivals in market or saturation * Decline †final stage of the cycle, when sales begin to f tout ensemble Reason for chosen product\r\nThe reason that I have chosen the mini IPad is because; the mini IPad is one of the latest technologies available in the market at the moment. Moreover, it is also because, every last(predicate) the applications are available and easily to download from the apple store that have been built in with the mini IPad. Plus, the mini IPad is light in weight and with the Wi-Fi and cellular connection available it is very easy to lend along. Therefore, this mini IPad has been designed to satisfy many of customers’ requirements of an perfection table which are; efficient, portable and easy to use.\r\n other reason that made me to use up out this product is because of its attractive appearance. orchard apple tree has designed this product to meet both genders as the mini IPad is available in two colours; black and white. Norm every(prenominal)y, the attractive important black is an option for male while the styler shinny white is for female. The appearance and packaging of the product is important because the consumers must look at the appearance first before knowing the quality of product. So, if the mini IPad is badly presented its may not be able to catch customers’ eyes.\r\nMoreover, one of another important reason for chosen the mini IPad is because, apple is popular for developing quality and high performance product that loafernister last for long time in that respectfore, it is very likely that the mini IPad are also to have a high quality performance.\r\nPricing\r\nOut of the 4Ps, charge is the only element whi ch creates sales revenue for orchard apple tree while all the others Ps are prices. . The price of an item is clearly an important determinant of the value of sales made. Researching consumers’ opinions close set is important as it indicates how they value what they are looking for as fountainhead as what they want to pay\r\nPricing strategies is not an easy for caper including orchard apple tree, to determine because the price must be reasonable and appeal to the target market. inside pricing strategies, there are three factors to its; personify based pricing, customer based pricing and adversary based pricing. Cost based pricing is\r\nwhen price is determined by adding a profit element on top of the cost of making the product. customer based pricing is where prices are determined by what Apple believe customers will be prompt to pay. While competitor based pricing is where competitor prices are the main influence on the price set.\r\nCurrently, the price verify of the mini IPad is from £269 to £529. This price range is determined based on the combination of cost and customer based pricing. It is based on the cost based pricing because, people who are in reality vitiateing the mini IPad are not arouse in the production cost of the product but instead, what they are interested in is the value which the mini IPad provides them.\r\nMoreover, it is also considered as customer based pricing because, the price range of the mini IPad is considered as a premium price for a tablet. However, demand for the mini IPad is still high because mini IPad are seen as quality product and people are obsessing about it so they are willing to pay at the high price, therefore the price for this product is seen as reasonable for the target market.\r\nPromotion\r\nPromotion is all about communication, the process where occupationes tried to raise sensory faculty of products to the customers. Therefore, the main aim of promotion is to ensure that customers are witting of the existence of the products and also, persuade and encourage customers to demoralise the products. Normally, business would use AIDA model for its promotion. AIDA stands for; * Attention : A process when Apple need to attract and take in the customers’ attention by having a standing out point. * Interest: A process where Apple need to create interest in the mini IPad by demonstrate its advantages * Desire: A process where Apple need to move from discussing benefits to specifically how those benefits will assistance that customer. * Action †A process of getting the customer to deprave the mini IPad.\r\nPromotional mix\r\nFurthermore, there are many types of promotional mix which is promotional methods for Apple to choose from. Example of promotional mix are includes; advertising, personal selling, public relations, direct marketing and especial(a) promotion. Not all businesses are employ the same types of promotional mix so in term of Apple, because the mini IPad is a premium product, Apple is less likely to do a special promotion such as buy one get one free. But instead, promotional mix, that Apple would be using are like advertising. Because Apple is a large global business with high profits figures therefore, they are more likely to use expensive type of advertisement.\r\nFor instance, a television adverts during a prime time slot, electronic billboard and whole page print advertisement on withstander newspaper. Similarly, Apple are also likely to use direct marketing which is a channel freethinker form of advertising that allows Apple to communicate full-strength to customers via text message, website and email. As evidences, if people are to yack Apple webpage and sign up for newspaper, they will in spades find information about all new products of Apple including the mini IPad.\r\nPlace\r\nPlace in marketing is also known as scattering channel, a location or methods where customers can buy what the businesses is of fered. So, the main objective of place in marketing mix is to make products available in the business place, at the right time. So for example, if there are no Apple stores in London, many consumers would not bother to go all the trouble to buy the mini IPad. Distribution channel can be direct transaction between Apple to consumers but, it is can also be from Apple to retailers like Tesco then to consumers.\r\nMoreover, there are many distribution methods that business can choose from and each one of the business choose a different way to uprise it to their customers. For example, market stalls, online, and stores. When Apple are to consider to select their distribution channel, they are certain factors that they must aware of. The first factor is market segment, so a place that must be familiar with the target market. Second factor is changes during the product life cycle as different channels can secondhand at the different point. The third factor is the inwardness of training and support the distributor requires.\r\nIn term of Apple, because they are a global business so, they are currently having many channels to distribute its mini IPad. The most common channel is through the Apple store that available to visit across many cities. However, because demand for Apple’s product is likewise high, many consumers now prefer to pre-order and buy the product online which is much quicker and efficient.\r\nConclusion\r\nIn conclusion, all of the 4Ps elements of the marketing are to have a major(ip) impact on the mini IPad, therefore it is suggest that Apple must always careful with it.\r\n'