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Young marketers elite 2013 assignment 2.1 - tuong_phong

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Young marketers elite 2013 assignment 2.1 - tuong_phong

  1. 1. ASSIGNMENT 2.1 MARKE RESEARCH - APPLE LÊ HUỲNH PHONG PHAN PHƯỢNG TƯỜNG
  2. 2. Question 1 WHAT DOES APPLE NEED TO RESEARCH BEFORE LAUNCHING THE NEW PRODUCT ? 1. Define Objective: Marketing action – New product Apple’s New product • New concept • Additions to existing product lines • Modifications of existing products 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, product testing, advertising testing, key driver analysis for satisfaction and loyalty, usability testing, awareness and usage research, and pricing research (using techniques such as conjoint analysis), among others.
  3. 3. 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 offering Is 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 product Is 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?
  4. 4. 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. The most effective types of market research studies for product development at this stage of the life cycle are needs-based assessment studies and concept 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 applications appropriate for earlier stages in the life cycle. this mature stage of the product life cycle include customer satisfaction, segmentation research and 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 (often cheaper or more efficient) and new innovations gradually eclipsing the product as its sales wane and its profits are squeezed.
  5. 5. WRITE THE RESEARCH BRIEF 1. Background “Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings. “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.” 3. Target audience Current Apple user (with database available) Potential user (Competitor user,…). 4. Preferred Approach and methodology Data source Primary and secondary information Area of research Suburbs Research approach Survey methods Research instrument Questionnaire 2. Business and research Objective Sample plan Personal interview a. Research objective. Sample unit All existing and potential customers Competitors: Samsung, HTC, Asus.. • Identify consumer of Apple for this new product (current Apple consumer and potential consumer) • Understand current and potential consumer’s reaction for the new product. • 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 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..

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