Product Pricing and Channels Paper

Topics: Marketing, Product management, IPhone Pages: 8 (1631 words) Published: March 10, 2015


Product, Pricing, and Channels Paper
Todd Allen, Kevin Castro, Brisa, Gonzales, Saya Narvaza, Robert Thorson, and Slavica Vuckovic MKT / 421
February 18, 2015
Kenneth Peter
Product, Pricing, and Channels Paper
A detailed description of the features of your product or service including how it solves the needs of your target market: The Apple Watch II features a sapphire crystal screen, increased water resistance, and kinetic battery technology. The use of a sapphire crystal screen isn’t considered that technology advanced, however, its crystal-clear transparency and hardness, second to a diamond, makes it an ideal product for display screens. This will help against scratches or possible cracking. The Apple Watch II will also have an increased water resistance from 30 meters up to 50 meters. The Apple Watch II is now suitable for swimming, white water rafting, non-snorkeling water related work, and fishing; however, it is still not suitable for diving. The most exciting feature of the Apple Watch II is the use of kinetic battery technology. Although this is not new technology, it will be the first time Apple Inc. will be using it within its product line. Kinetic charging allows the wearer to recharge the battery when motion occurs while wearing it on the user’s wrist. There are several advantages of a kinetic battery. One is that the wearer will not need to wind or change a battery as the watch is powered through his or her movement and then stored within the watch. Apple Watch II can store this energy for up to six months and also has an indicator to let the wearer know how much charge is being stored. Another advantage is the accuracy of the Apple Watch II. It uses multiple technologies in conjunction with the wearer’s i-Phone to keep time within 50 milliseconds of the definitive global standard. Finally, although there are no batteries to replace, the main capacitor that stores the energy and keeps time may need to be tuned up or replaced every 5-7 years. A description of how your marketing efforts will change with each phase in the product life cycle: One major advantage Apple Inc. has in its marketing efforts is during the earliest phase of the product life cycle. All new products go through four different stages. These stages are Introduction, Growth, Maturity, and Decline. These four stages coincide with the consumers that not only embrace the new technology but become customers and help to increase customer attention. Typically the introduction phase is the phase where the company seeks to build product awareness and to develop a market for the product. Distribution is typically very selective until customers show acceptance of the product. This is not the case with the Apple Watch II. This is due simply to the fact that the Apple brand has such a strong following. Apple Inc. expects that marketing will naturally focus on the innovators and early adaptors. Regardless of what is being released, Apple Inc. has such a strong following that nearly every media outlet reports on its product releases. The Apple Watch II will be no different. Apple Inc. expects marketing efforts to start out strong as we leverage upon our existing customer base and focus on what differentiates this product from the prior version. Apple Inc. will also leverage the media outlets reporting on this product to market the product for us. This will allow Apple Inc. to stretch its marketing dollar yet maintain market focus on the Apple Watch II. Apple Inc. expects to be able to ride the early wave of excitement around the product launch for quite some time. When moving into the growth stage, Apple Inc. will focus its marketing attention on the early majority of customers. During this phase, Apple Inc. will leverage improvements in features through additional applications in the App Store. As the Apple Watch II enters the maturity phase, Apple Inc. may experience a decline in sales due to a combination of competition and saturation...
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