Product (Product Brand and Quality Management)
The iPhone will come along with two types of warranties. The first warranty will cover a period of one year, whereas the second warranty that is optional will be a care warranty for three years. The packaging of the iPhone will be similar to that of other Apple Inc. products. The packaging should be attractive and tasteful. In addition, a number of editions concerning iPhones will be launched, such as the iPhone Beatles Edition. The edition will be for celebrating Sgt. Pepper 40th anniversary. The next consignment for iPhones will be cheaper and less advanced for the other market segment, such as high school, college and graduate students. However, the versions that will target upper-middle income professionals will be advanced with additional features. These include removable disk with larger storage capacity that supports external hard drives, memory cards for digital cameras and USB memory sticks, lower thinness and weight, in that it ought to fit into or to be a wallet by having features that operate as a debit or credit card.
The iPhone battery should be replaceable and with extended battery life; this will ensure twice as long use of the iPhone (Stone, 2004). The iPhone will also be upgraded to 4G wirelesses to facilitate faster and more incredible Internet access speed. The other feature will be GPS functionality to ensure the precise information about location and linkage with other software are provided. An improved camera will be necessary to ensure the quality video conferencing and detailed pictures. The last but not least feature will be peer-to-peer wireless exchange. Like Zune, it will facilitate quick and easier sharing of pictures and music.
Pricing (Penetration Pricing)
The company can use several ways to market the new product. These include premium pricing, price skimming, product line pricing, among others. However, this company will use penetration pricing because the new product will be a special product. The product shall possess qualities deserved by the customer. Apple Inc. is lucky in that it has experts who advise production managers in a competent way. This serves as an opportunity because the company can make use of experts to develop the special items. Apple Inc. will have the price for the iPhones set as follows; for the 4 Gb model it will be sold at a low price of $349 dollars, whereas the 8 Gb model will be retailed at a price of $399 dollars. Upon rollout, Beatles iPhones with special limited edition will be sold. They are the first-class versions of iPhone that are preloaded with Beatle iTunes catalog and deluxe packaging. The iPhone price will also be lowered in the initially stages to give room for the establishment of the market dominance within the shortest time possible (Block, et. al., 2001).
Distribution (Channels and Relationships)
Distribution will be considered effective, since it is one of the “4Ps” in marketing. It is a necessary element in any marketing strategy. It helps a firm to grow and to expand its revenue. A company wishing to market its products can use either one distribution channel or several distribution channels. These channels can include wholesalers, Internet, direct distribution, dealer, consultant, sales agents, among others. Apple Inc. has. however, decided to use direct sale of products to consumers using a team of sales men and women who have been working for the company. A few more sales people will be hired, so that they could reach the consumers all over the geographical region covered by the firm. Other distribution channels will couple this. The distribution of the iPhone will be a countrywide roll out, as well as the worldwide rollout. All the reputable retailers online, as well as brick mortar stores and cellular phone providers will accomplish the rollout (Grimwade, 2000). All Apple stores along with the Apple website typically will commit themselves to the new iPhone product. In addition, they will provide other channel partners through the product demonstrations. The physical stores that will be dealing with iPhone will have eye catching displays. This will ensure that the product stands out in the market from the pack. Initially, the product will be displayed in all Apple stores for nearly one month before a countrywide or worldwide rollout is launched. The move will lure consumers to move into the Apple stores and witness the range of products that are offered by Apple.
Marketing and Communication (Advertising)
This has yet been another marketing strategy. In fact, promotion serves as a key when it comes to the marketing mix. Before deciding on a marketing strategy, a company needs to make vital decisions concerning the customers. These include, who, how and what message to give to the customers. These questions are answered through the market segmentation, targeting, positioning and messaging.
All the media advertisement will integrate visual/audio experience together with the message of radical communications. Notably featured to tell between the Apple Inc. products against those models with the touch screen functionality, the brand with be emphasized outstandingly and an association established and clearly brought out about the association between iPhone and iPod’s innovative lineage. The ads will be original, as well as tasteful. Apple will invest heavily on research, on consumer’s behavior especially media consumption pattern. Research findings will guide the advertising agency on the appropriate timing and media to get to prospects even before the product introduction (Mühlbacher, 2006). A massive TV campaign will be launched for an entire one month to generate people’s attention. This will be followed by regular ads that are aimed at creating a general public awareness. In addition, it will communicate differentiation messages pertaining different targeted groups. To enable Apple attract, motivate and retain the channel partners that are responsible for pushing the product, personnel will send to give them the necessary information on how to market iPhone.
Monitoring and Controlling Marketing
Effectiveness of the marketing strategy will be seen once the target is met, or a goal is achieved. In this case, each sales person will be expected to hit a sales target. This will be checked every four months. Marketing costs a firm a lot of money and, if not monitored and controlled properly, a company is likely to suffer unbearable losses leading to the closure of such a product line. In some extreme cases, a whole company can be closed. This marketing plan is expected to last for a period of three years. This timeline will ensure that all the goals are realized. Monitoring will be required because if this time exceeds, the company will have to incur the extra costs, which may affect the company financially. Apple Inc. needs to include a budget estimate, which is mandatory in creating the marketing plan. The budget will be monitored annually to see whether the marketing strategy will be effective. In this world, one can only manage what he or she can measure. Through monitoring the marketing activities, the company aims at improving the decisions made by management.
IPhone remains a favorite phone among consumers because of its unique features that allow users to perform different functions with it. It also goes through generational changes, meaning customers are able to obtain current versions of the phone with better features.