The New Product Launch Marketing Plan Essay Example for Free

The New Product Launch Marketing Plan Essay Introduction The new product launch marketing, is a product, it has to be external to iPod, iPhone or any cell phone device. The product can send a message to display on the cell phone or iPod warning the user that the sound level is high dangerous to the ears. iPod Market needs and Market Growth. The current technology is focused on the electronic youth culture, in order to have a convenient product according to the actual customers’ daily life; engineers have designed sophisticated devices on its electronic artifacts. The music industry is not an exception, the music market is now replacing its CD for digital musical. Apple Inc. has developed an iPod device able to keep hundreds of music CD’s on it. It fits in small pockets, satisfying numerous customers’ needs for an easily portable device. The iPod has advantages like, it’s a small device, lightweight, cheaper than an iPhone with high-quality audio. It is an appealing choice for the enthusiastic customers that are looking for a high-fidelity sound and who are constantly looking for a high-quality music experience wherever they go. Also includes the Safe iPod Volume limit that lets the customer set the volume limit, depending on ear buds and headphones. SWOT Analysis When a company is about to launch a new product or improve upon an existing one, it is highly recommended that this type of analysis is done. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are an inventory check on the company’s internal stance. Opportunities and threats are based on where the company stands on an external view point. â€Å"Distinguish between where your organization is today, and where it could be in the future. Keep your SWOT analysis short and simple, and avoid complexity and over-analysis since much of the information is subjective.† (Investopedia, n.d.) Strengths For Apple the company has had huge success in introducing a new innovative way to listen and download music. Both domestic and international markets are well aware of all Apple products. The lines are astounding when Apple releases a new product and the popularity is extremely vast. Apple’s strength lies in that popularity, the fact that millions of people have at least one of their products if not more than one. Weaknesses As popular as Apple is, sometimes their prices can be a little high for some of the average middle class socioeconomic class. On average, purchasing a mac book can set someone back a couple thousand dollars – easy. The iPad, iPod and iPhone are more of their items that are fairly reasonable, but some might have to save to purchase one. The recent change in the new product charging capabilities was a big letdown for many previous Apple customers. The change from their normal charger to the new 30 pin caused a vast amount of customers to repurchase chargers for their home and cars; or people had to buy adapters. Apple might want to consider their strategy in why the change was needed before implementing such a wide spread change. Opportunities Apple has the ability to create a new product that would allow for a safer way of listening to music. Many kids are now listening to movies and music on their devices at louder levels. Many parents will tell their children or teenagers to keep the music or movie at safe level, however, they do not always listen; and parents are not with their children or teenagers at all times. The opportunity is great for Apple to launch a device that would only allow the decibel levels to reach a safe limit. It could be in the way of something that is attached to the device or something innate in the device that could be part of a parental control. There is nothing on the market at this time, so Apple has the potential to tap into a market unknown and create something big. Threats While the market to create a product such as â€Å"Safe Play† would be great, the market may also not have enough demand to actually launch this product. Music should be played at safe levels to ensure that hearing loss does not occur; however, how many people will actually purchase this product. Is  there enough of a demand to offset the product costs, and will this product be worth the initial costs that it takes to market it and get it off the ground. Potential Competition With Apple being the leading company in the electronics market, there will always be companies trying to dethrone their success. An idea such as â€Å"safe play† would be great for Apple to develop a new device, this could garner new customers and keep current customers purchasing more. Samsung has always been the company to combat Apple the most, with their products being similar to Apple’s. Samsung is actually one step ahead of Apple with this current idea. In the newer Samsung phones—Galaxy S5, and Galaxy Note 3—when you have headphones plugged into your device, when you turn the volume up once you’ve reach a certain volume level there is a message that automatically appears on your phone to alert you about the causes of listening to loud music. Apple can now take somewhat of the same idea and make particular iPods with this feature. LG Electronics is another company that is continuously growing, and can possibly cause serious competition for Apple in the future. Along with Samsung and LG, HTC has been coming out with solid phone products that are catching customers’ eyes. Apple’s advantage is that they offer other products besides their phones. If Apple where to implement a new â€Å"safe play† technology, they can place this in all of their â€Å"I† products, iPod, iPad, and iPhone. Competition is something that no business can get away from, with Apple being the electronics giant that it is more and more companies will be attracted to take over within that market. The age of the Apple iPod and now the cellular phones with enough capacity to view movies or listen to songs has captured a significant consumer base. The product ideal to penetrate this potential market is a device that can be set to control safe levels of sound music. Tinnitus has been increasing as MP3 music era evolved. This problem has been known but nothing has been done to reduce the impact of listening to loud music. The constant ringing and loss of hearing is also a problem for young users. The device will have to be small enough to be portable and not distract customers. Easily attach to the headphones and allow the user three options, safe, manual, low. The product can be called â€Å"Safe Play†. Nothing guarantees the loss of hearing  but this device must be able to identify the decibels and reduce it to the recommended safe levels to prevent or reduce the effects of hearing loss. To date, only warning labels are what make the user the aware of the dangers of playing loud music over a long period of time. There is not product in the market addressing this problem to date. Justification for the product 10-question survey Safe Play is a product that will allow users to listen to music at decibels that is safe. By choosing a product that has not been identified in the market at the current time allows the business to enter the market with a monopoly type hold on the market. The rationale behind the choice of Safe play is to penetrate a new market by being the first to the potential overwhelming demand for product. The business can control pricing and allow for higher profit margins being the first to the introduction to the market. Thus when competitors try to penetrate the market there will be the existence of one business thus not allowing having such a control as original business. The business idea behind the SAFE Play product is to deliver a value that is conscious of the user and in return creating profit for the business. Survey 1 What age group will primarily use this product? 2 Is product going to be marketed to all users or to ages of consumers who do not like loud music? 3 What is the current trend of listening to music? CD player, car audio, portable devices, etc†¦ 4 What is the current average of the decibel that users listen to music? 5 Will product contain the user ability and accessibility to applications currently in high demand on the market today? 6 Do buyers want to have a safe mode of listening to music? 7 How will company deliver research to buyer to show buyer the potential harm of other devices? 8 How much is buyer willing to pay for this device? 9 Does the domestic and international markets have different buyer trends of how loud music is? 10 Does buyer care about safety? 11 How does buyer feel about listening to music at a safer level? Conclusion Learning Team A created a new product â€Å"Safe Play†. After the analysis of the factors that impact in the customers which determine the position thereof, it is essentially measured by SWOT, market growth and needs, as well as a survey to help with product development. This product, in turn, can and will be presented in the domestic and global markets. References Bell, D. (2014). Restrict volume on iPhone, iPod, and iPad. Retrieved from http://www.cnet.com Investopedia (n.d.) SWOT Analysis. Retrieved from http://www.investopedia.com/terms/s/swot.asp