Unit 19 Marketing Planning Assignment - Apple Inc
Diploma in Business
Unit Number and Title
Unit 19 Marketing Planning - Apple Inc
Through this Unit 19 Marketing Planning Assignment Apple Inc marketing planning and related theories and principles are illustrated which are done through group work as well as individual work. Through this assignment the teamwork and individual capabilities are also reported. Different changes within the marketing planning have been reviewed through the document. The capability of the organisation which is needed for the future respect is analysed. Different methods of organisational audit and external influences are analysed. On the chosen product the marketing planning and its stages are discussed. Different policies of pricing, distribution processes and communication mix are illustrated on the marketing planning. There are different barriers which impact on the marketing planning and its success. These barriers and the response of the organisation on these barriers are analysed. Different ethical issues and the influences of them on the marketing planning are discussed. Apple Inc has been chosen for this report. An individual reflection is also given.
1.1 In the form of a report, review the changing perspectives in the marketing planning.
Marketing planning is the tool which has been used as an apparatus which gives the empowerment to the administration for acknowledging the current state of the organisation and the current situation in the marketing principles. (globalcompose.com., 2015). There are different changes in the market which are affecting the marketing planning of the organisations. Changes in the market are impacting over the demands and the supply of the products as well as the preferences of the customers. These factors are influencing the marketing planning and the components of it. There are different perspectives of the marketing planning:
- Selling concept: the selling approaches of the buyers are changing considering the trends and changes in the market. By analysing the changes in the selling and buying concept the organisations make changes in the selling perspectives and promotional activities. Through the promotional activities the organisations are trying to improve the relationships with the customers. (globalcompose.com., 2015).Through the string relationship with the customers and making the customer oriented approaches the organisations can be bale to place their aggressive selling in the market.
- Product concept: the changes impact over the perspectives of the products on the intellect of the customers. The products and the components of them are the main focus in this perspective. By analysing the changes in the preferences the administration tries to change the components of the products and also to add more value within the production. (globalcompose.com., 2015).
- Marketing concept: the changes in the market mostly influences different concept of marketing. Through analysing the changes in the marketing the administration would be able to make efficient approaches in the marketing and develop proper marketing planning. The marketing concept and the changes within them are necessary to analyse for acknowledging the techniques of the competitors. (globalcompose.com., 2015). Having knowledge over different perspectives of marketing such as changes in the promotional activities, the changes in the product placement, current methods of delivering, necessary and current communicational methods for having customer relationship etc. the administration will have advantages over the marketing planning and its stages.
- Evaluation of marketing concept: there are classical eras of marketing. these are named as simple trade era where limited supply was available of the products which are made by hands or harvested and production era, which replaced the former one by making increase of the availability by increasing the production. Later sales era has occurred where market share increased and business could no longer easily sell everything. In post WW 2 marketing era emerged where new levels of prosperity were provided to the customers with more power and marketing related activities were consolidated by organisations. Sixth era called relationship marketing era evolved with the goal of long termed employee relationship with the customers over mutual benefits. Later value based marketing with purpose of providing the value over price has been adapted by business to have customers’ satisfaction. With the development in the technologies and their increased usages by customers evolved the era of social and digital marketing era. By succumbing the knowledge and theories of predecessor eras this era focuses over the real-time connections with the customers.
1.3 Examine the techniques for organisational auditing and for analysing external factors that affect marketing planning.
In marketing planning the external factors and the organisational audit are necessary for having the knowledge over the internal capabilities of the organisation as well as shortcomings and also to understand the external influences or conflicts on the marketing planning implementation. Through these audits the organisations like Apple Inc can have brief understanding over the:
- Analysis of the market competition,
- Current influences of the marketing
- Financial capabilities of the organisation in implementing necessary changes
- Abilities of the human resources management
- The necessity of the revising and reviewing of the marketing planning (netmba.com., 2016).
Different tools are adapted by the organisation for making the audit of the external as well as the external factors analysis:
- BCG matrix: it is the portfolio planning which has been developed by the Boston Consulting Group. By observing the company’s business units the model has been developed by considering market growth and market share. (netmba.com., 2016). The market growth is used for the industry attractiveness and the market share works as the proxy for competitive advantages. Within the framework there are four categories:
- Dogs: these companies have low market share and low growth rate. These companies neither generate nor revenues nor consume large amount of cash. Dogs are cash traps as the money which is tied up in business has little potentiality.
- Question marks: these companies consume large amount of cash and have a rapid growth. These companies do not generate large amount of cash as they have low market share. It is also regarded as the problem child as it consume large amount of cash. (netmba.com., 2016). Through potential market share it can be developed itself as a star but with slow market growth it becomes cash cow. If it fails to generate more revenues it eventually becomes the dog with the decline of the market growth.
- Star: with strong relative market share these generate large amount of cash and also consume large amount of cash.
- Cash cow: the cash cow act as the leader in the mature market and able to have return on the assets which are greater than the market growth rate. These generate more cash than they consume. Apple can be considered as the cash cow. (netmba.com., 2016).
- SWOT analysis: through the SWOT analysis the organisation will be able to acknowledge the current weakness and strengths of the organisation. The future opportunities and the threats in the market are also analysed through this analysis. SWOT analysis is necessary for the developing the marketing planning. Through this analysis the necessary stapes and actions which are needed to be taken are analysed. (Luther, 2011)
- PESTLE analysis: through PESTLE analysis the organisation can have the overview on the external factors and elements. This analysis is helpful in developing the marketing planning in competitive way. (Luther, 2011) the components of the PETLE analysis are helpful in enlarging the analysis. the political, social, economical, technological, legal and environmental factors are analysed for acknowledging the external influences over the business.
- Porter’s 5 force analysis: it is a simple tool for understanding the business power in the market situation. There are five important forces which are used to understand the competition such as suppliers’ power, buyer power, competitive rivalry, threat of new entry and threat of substitution. By using this tool own position can be understood.
3.3 Your company is interested in growing their business by developing products and markets. As a result, they have asked you to examine techniques for new product development.
Development of the new products is essential in extending the product line of the organisation and also in retaining the customer interest on the product. Through development of new products Apple Inc has been retaining their large customer base and also engaging the customer interest. The organisation has been placing their products successfully in the market from the beginning. Through this strategy the organisation is sustaining their place in the competitive market. Developing new products include analysis of the current demands and the current situation of the market. (Gilligan, 2012). By analysing the customer demands Apple can be bale to develop the product with efficient placement of eth technologies, setting the prices, adapting the distribution methods etc. There are several techniques within the development of the new product:
- Judgemental bootstrapping: by taking the expert advice on the development of the production. In the development of the new product of Apple can be done through this method by taking the expert analysis on the product through regression stage of the development. The set of situation has been taken in account for the analysis of the product.
- Product liability: in this stage the legal processes which are set in the production and other risks posed on the product should be analysed. The liability of product is one of the most important aspects in developing the product. (Gilligan, 2012).
- Focus group: focus groups are concerned for talking feedbacks on the new product. Interview has been taken over the focus group. (Gilligan, 2012). Though it takes more budgets to perform than other programmes it has been effective for generating rare and innovative ideas. This product development has been effective for the products development of Apple as it will generate the current trends and also the creative necessity of the product.
- Brainstorming: this process is necessary for enhancing the creativity within the new product development. It takes a great deal of time span. (Gilligan, 2012).
New production development process: there are certain stages within the process-
- Understanding customers’ needs- what the customer wants about the product must be considered
- Idea generation- through researching ideas, trends, alternatives, analysis of the customer needs, new ideas are generated for new product. These ideas are helpful for the designing the new products.
- Product concept- the value proposition of the product and the relationship of the product with the business objectives are considered for developing product concept.
- Prototype development- designing the prototype over the concept of product is important for acknowledging the product’s potentialities.
- Final design- on analysing the prototypes’ success the products is finally designed
- Commercialisation- in this stage the evaluation of the profit risks over the commercialisation of the product is done
- Product maintenance and extension- the product’s life cycle is extended on evaluating the product’s success in market.
1.4 carry out organisational auditing and analysis of external factors that affect marketing planning in a given situation
Organisational audit is done for the having the broader knowledge over the external and internal factors which can impact over the marketing planning. Understanding over the environment will reveal the current risks and the opportunities over the implementation of the marketing planning. Through this analysis distinguish over the fundamental opportunities and the treat is essential to develop new marketing planning.
- Economical: the investment rates, trade rates, exchange rates and changes within them in the global market can impact on the current marketing planning. The economic structure of the country where the execution of the planning would be done should be analysed by Apple for setting the price of the products. (Fernando, 2011)
- Social: the changes in current life styles and the adaptation of modern technologies in different phases of lives are imposing opportunities for the new development of the product of Apple.
- Technological: the development in the technologies and their implementation within the product development has been essential for the business of Apple as it has been doing business in the technology industry. Different issues are also arising with this development such as the privacy issues over using the devices, safety issues etc. these should be maintained while developing the plan. (Fernando, 2011)
- Legal: legal issues and laws such as the fiscal and monitory policies, health and safety laws, laws over carbon footprint of the production etc are needed to be maintained.
- Environment: the approaches over the production should be done on environmental friendly way.
SWOT analysis of Apple:
- Innovations in the product
- Customer loyalty
- Greater revenue
- Global workforce
- Online presence
- Worldwide presence
- Constant enhancement in the products and designing
- Various products
- Worldwide reputation (Fernando, 2011)
- Premium price
- Incompatible with other apps
- Law suits
- Defects within certain technologies
- Decrease in the market share
- Expansion of mobile device usages
- Cloud services
- Rising demand over Smartphone and Mac series devices (Fernando, 2011)
- Rapid changes and innovation in the technologies
- Competition with Android OS
- Unstable US dollars (Fernando, 2011)
Individual reflection on task 2 and task 5
Task 2 and task 5 of this assignment has been done through group work or team work. On conducting the above essential abilities of group work are assessed by me. I have gain efficient knowledge over the marketing planning concept on different perspectives. Through the team work the I have acknowledge different methods which are used within the team work such as brainstorming, group discussion, knowledge sharing etc. Through proper research the above document has been developed along with the joint effort of the team members. The research work also includes the organisational research. Through the research work we analysed different existing marketing planning activities of the Coca Cola Company which is helpful in understanding the marketing planning processes. Through the group work proper ways of conducting a market research and analysis of the information have been done. Proper knowledge over different approaches along with different techniques is gathered through this assignment.
2.1 Assesses the main barriers to marketing planning
Marketing planning composes different barriers which create hurdles in different stages of the market planning. The barriers are:
- Environmental barriers: different barriers exist within the environment. These factors of the external environment such as the social, political, technological, legal etc. and the changes within them create barriers in the implementation of the planning. Different issues in the external environment impose threats on the execution of the planning. (Ghuman, 2010).
- Changes within the preferences: the changes in the preferences of the customers consists barriers for the new product development and for the marketing planning. The marketing planning of Apple needs to be developed by considering the current demands of the customers and the satisfaction criteria with the existing products.
- Organisational barriers: the organisational barriers create conflict in the implementation of the changes. In the implementation of the changes which are needed for the market planning needs the analysis of the organisational barriers. Organisational barriers include the culture and structure of the organisation. (Ghuman, 2010). Different levels and the structure of the organisation along with the human resources can be imposed as barriers for the marketing planning. The culture of the organisation has been consists with values, beliefs, ethics, cultural background etc. these can imposed as barriers for the organisation. The changes within the management and the changes within the cultural aspects are barriers for the marketing planning implementation. The cultural values of Apple Inc are the main aspect behind the success of their marketing planning.
- Lack of in-depth analysis: lack within the in-depth analysis also imposed as barrier to the marketing planning. Without having proper knowledge over the marketing concepts the organisation cannot be able to forecast future perspectives of the marketing planning. (Ghuman, 2010).
- Lack of knowledge and skills: lack of proper knowledge and skills are hurdles to implement necessary action plan in the marketing planning. Accurate knowledge and skills are essential for development of a new product or having analysis over the external influences. Lack of knowledge will result in the confusion within strategy and tactic. Confusion between the strategy and the tactics creates hurdles in the strategic implementation of the marketing planning. (Ghuman, 2010).
2.2 Examines how organisations may overcome barriers to marketing planning.
Understanding the barriers is essential for an organisation to forecast the conflicts before executing the marketing planning. Better understanding over the barriers grants the capability to overcome them before the developing the marketing planning. There are different methods to overcome the barriers. (Saren, 2010)
- Provide leadership: leadership within the organisation is necessary to overcome the organisational barriers. Through efficient leadership qualities the founder of Apple had bring success as well as created the brand image of Apple Inc in global market. The current leadership of Tim Cook is efficient for the organisation to bring changes within the organisational context.
- Analysis over the market: before constructing the marketing planning the organisation like Apple must make analysis over the current scenario of the market premises. This analysis will reveal potential barriers for the marketing planning. By engaging proper analyst of the organisation like Apple Inc have better understanding over the current demands of the customers and implement the necessary action steps within the product development and allocate proper resources needed to execute the plan. (Saren, 2010)
- Communication: uncertainly of the goals of the marketing planning creates impediments in implementing the strategies of the marketing planning. In order to clarify the goals and of the overall planning and the objectives per units are necessary for involving the skills and the people within the management planning. Proper communication methods are implemented within the management and the workforce of Apple Inc. (Saren, 2010)
3.2 Why marketing planning is essential in the strategic planning process for an organisation.
Strategic planning is a process which consists of all the activities of entire business. Marketing strategies are different from the strategic planning. Marketing planning is systematic process which has been developed by involving the assessment of the marketing goals, opportunities and resources. In order to develop the marketing planning the determination of the objectives along with the process of control and implementation are also needed to be implemented. The marketing planning has been playing an important part within the strategic planning process. Within all organisational levels the marketing planning process has been implemented. (studopedia.org, 2016).
The strategic marketing defines all the activities of marketing which affecting the business, corporate and marketing strategic plans. Within the strategic planning processes the marketers first execute the marketing philosophy for developing the strategic planning process. Next the marketers tend to gather different information over the current situation and the current trends within the market environment and assess the potential influences over the market. The information and the analysis are necessary to understand the proper actions required within the strategic planning processes. (oxfordcollegeofmarketing.com, 2012) Marketers are involved within the marketing strategic plans and within the development of the corporate and business plans. Marketing planning is varied within the organisation. Within the strategic decision making the marketing planning plays a large part. Through the marketing planning proper strategies and their decisions are taken.
Marketing planning is involved within every stages of strategic planning process of Apple Inc. by involving the marketing planning within the strategic planning process Apple Inc has been developing their strategic through continuous development. Through the marketing planning different ways and paths are cleared for the strategic planning processes. Through the marketing planning the identification over different processes and different perspectives are identified which are necessary to allocate the resources in the strategic planning process. Apple Inc has been considering its marketing planning in order get the overview of the current scenario in the market. Through the marketing planning proper implementation and control over different strategies of Apple are done. Through the marketing planning Apple get the overview of the different components and their impacts over the strategies. It is helpful to construct the competitive strategy. (Richrds, 2016).
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This Unit 19 Marketing Planning Assignment Apple Inc is developed on the analysis of the marketing concept. The organisation Apple Inc is the largest information technology organisation which is doing their business in different parts of the world along with successful marketing plan. Marketing planning is the necessary part in the business in recent years. The planning provides necessary information and also an insight over the current situation of the organisation. Several matrix and techniques like SWOT BCG matrix, PESTLE analysis, GE matrix are involved within the process of marketing planning and the implementation of it. Considering the implementation, the organisation has to evaluate potential issues within the marketing and business environment which can impose over the marketing planning implementation.
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Unit 19 Marketing Planning Assignment Apple Inc marketing planning and related theories and principles are illustrated which are done through group work as well as individual work, We are posting Locus units solutions so scholars can explore the our Assignment Help in UK and get review the quality of our work.