Develop a Coherent Marketing Mix for a New Product or Service Essay

In this assignment, I am going to describe and explain how apple habits the marketing pre shuffle for cardinal(a) of its latest carrefour, a miniskirt IPad.Marketing mixMarketing mix is commonly k immediatelyn as the 4Ps fruit, equipment casualty, site and forward motion. These ar controllable fraction and it importantly use when fit(p) and adjusted until the flop combination that swear out the strikes of the produces consumers.Description of the w atomic number 18The product I ready been chosen is star of the latest product of orchard apple tree which film been released during November 2012, the mini IPad. This new IPad is available in two models, one with Wi-Fi and other is Wi-Fi + cellular. The IPad mini has two colours which is black and white and the expense clench is from 269 to 529Target marketThe target market that chosen for the mini IPad is mannish and female between the ages of 19 to 49, those that are presently in kick upstairs education or in employment. Also, it is alike targeting at apple stanch customers.The reason for this market group is because, people between the ages of 19 to 49 are more presumable to use high technology product. peculiarly with people who are in education and employment because they will need to use tablet for works purposes.Product life steering wheelWhen evolution a product, orchard apple tree moldiness guide factors such as, customers wants and needs, the physical port of the product, the quality and reliability of the product.All products must go through a product life cycle which is an important concept in marketing. The product life cycle describes the stage that more products must go through. However, more products will not be able to reach to the final stages because of belittle in demand of product failure. The four stages of the product life cycle are * Introduction researching, developing and then launching the product * egression when sales are increasing at their fa stest rate * matureness sales are near their highest, but the rate of growth is slow down, e.g. new contentions in market or saturation * Decline final stage of the cycle, when salesbegin to f only Reason for chosen productThe 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, altogether 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 burden and with the Wi-Fi and cellular connection available it is very easy to carry along. Therefore, this mini IPad has been designed to meet many of customers requirements of an ideal table which are efficient, takeout and easy to use.Another reason that made me to select out this product is because of its mesmeric appearance. Apple has designed this product to meet both genders as the mini IPad is available in two colours bl ack and white. Norm every(prenominal)y, the attractive classic black is an option for male while the stylist shinney white is for female. The appearance and packaging of the product is important because the consumers must discover at the appearance counterbalance before knowing the quality of product. So, if the mini IPad is badly presented its may not be able to catch customers eyes.Moreover, one of another important reason for chosen the mini IPad is because, Apple is common for developing quality and high performance product that can go away for long succession at that placefore, it is very likely that the mini IPad are also to have a high quality performance.PricingOut of the 4Ps, price is the only element which pass waters sales revenue for Apple while all the others Ps are lives. . The price of an item is clearly an important determining(prenominal) of the grade of sales made. Researching consumers opinions close determine is important as it indicates how they or der what they are looking for as well as what they want to stick outPricing strategies is not an easy for transaction including Apple, to determine because the price must be reasonable and appeal to the target market. Within pricing strategies, there are three factors to its cost base pricing, customer based pricing and competitor based pricing. Cost based pricing iswhen price is decided 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 prepared to pay. While competitor based pricing is where competitor prices are the main influence on the price set.Currently, the price range 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 genuinely spoiling the mini IPad are not interested in the take cost of the product but instead, what t hey are interested in is the value which the mini IPad provides them.Moreover, 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.PromotionPromotion is all about communication, the process where businesses tried to raise awareness of products to the customers. Therefore, the main aim of promotion is to ensure that customers are aware of the existence of the products and also, persuade and encourage customers to pervert the products. Normally, business would use AIDA model for its promotion. AIDA stands for * Attention A process when Apple need to attract and grab the customers attention by having a rest out point. * Interest A process where Appl e 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 stand by that customer. * Action A process of getting the customer to buy the mini IPad.Promotional mixFurthermore, 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, pick out marketing andspecial promotion. Not all businesses are using 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 ball-shaped business with high profits figures therefore, they are more likely to use expensive type of advertisement.For instance, a television adverts during a prime time slot, electronic billboard and whole page print advertisement on Guardian newspaper. Similarly, Apple are also likely to use straight off marketing which is a lineage agnostic form of advertising that allows Apple to communicate straight to customers via text message, website and email. As evidences, if people are to consider Apple webpage and sign up for newspaper, they will definitely find learning about all new products of Apple including the mini IPad. localisePlace in marketing is also known as distribution channel, a location or methods where customers can buy what the businesses is offered. So, the main objective of place in marketing mix is to make products available in the right 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 put under 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 lik e Tesco then to consumers.Moreover, there are many distribution methods that business can choose from and each one of the business choose a antithetical way to approach 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 exploited at the different point. The third factor is the amount of training and support the distributor requires.In 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 Apples product is too high, many consumers now prefer to pre-order and buy the product online which is mu ch quicker and efficient.ConclusionIn conclusion, all of the 4Ps elements of the marketing are to have a major jar on the mini IPad, therefore it is recommend that Apple must eternally careful with it.