In this assignment the main goal will be to define and analyze the target market for the recently launched Apple Watch. For this, some of the marketing concepts and tools (SWOT analysis, PEST tool, etc.) will be put in practice.
After the iPhone’s selling success, Apple has entered the smartwatch segment with the Apple Watch to also become the leader. This assignment will analyze some internal and external key factors which could potentially have a very deep impact on Apple’s chances to succeed. This analysis will identify the Apple Watch value proposition; assess any risks involved in the product go-to-market approach and discuss the potential market trends.
After performing the above mentioned analysis and definition of the Apple Watch market and target customers and according to the outcomes, the Apple Watch USP (Unique Selling Proposition) will be formulated in the Conclusion section of this assignment.
Table of Contents
- 1. INTRODUCTION
- 2. DESCRIPTION OF THE COMPANY AND THE PRODUCT
- 2.1. Company
- 2.2. Product
- 3. MARKET DEFINITION AND POSITIONING
- 3.1. Customer
- 3.2. Competitors
- 4. EXTERNAL ANALYSIS (PEST TOOL. OPORTUNITIES AND THREADS)
- 4.1. PEST Analysis
- 4.2. Opportunities
- 4.3. Threads
- 5. INTERNAL ANALYSIS (STRENGTHS & WEAKNESSES)
- 5.1. Strengths
- 5.2. Weaknesses
- 6. CONCLUSIONS
- 7. REFERENCES
- 8. INTERNET REFERENCES
Objectives and Key Themes
This assignment aims to define and analyze the target market for the Apple Watch, applying marketing concepts and tools like SWOT and PEST analysis. It explores the Apple Watch's value proposition, assesses market entry risks, and discusses potential market trends. The analysis considers both internal and external factors influencing Apple's success in the smartwatch market.
- Market definition and positioning of the Apple Watch
- Analysis of internal and external factors impacting Apple Watch's success
- Identification of the Apple Watch's target customer
- Assessment of the Apple Watch's unique selling proposition (USP)
- Evaluation of market trends and risks
Chapter Summaries
1. INTRODUCTION: This introductory chapter sets the stage for the analysis of the Apple Watch's target market. It defines marketing according to the American Marketing Association and briefly outlines the assignment's objectives. The chapter highlights Apple's aim to become a leader in the smartwatch segment following the success of the iPhone, emphasizing the need to analyze key internal and external factors influencing the product's potential for success. The chapter concludes by stating that the Apple Watch's USP will be formulated in the conclusion section.
2. DESCRIPTION OF THE COMPANY AND THE PRODUCT: This chapter provides a background on Apple Inc., outlining its history, growth, and current market position as a leading technology company. It details Apple's diverse product portfolio, its extensive distribution network, and its influence on marketing strategy and innovation. The chapter then shifts focus to the Apple Watch itself, describing its features, including its customizable design, its operating system based on iOS, and its health-related applications. It also highlights the three product lines offered: Apple Watch Sport, Apple Watch, and Apple Watch Edition, emphasizing the product's varying price points and target markets.
3. MARKET DEFINITION AND POSITIONING: This chapter defines the Apple Watch's market position within the broader watch market and the more specific wearable technology segment. It distinguishes the Apple Watch from traditional watches, focusing on its technological features and its appeal to technology-savvy consumers. The chapter then elaborates on the target customer profile, focusing on the characteristics of a technologically advanced consumer with a medium to high income level who values brand recognition, innovation, and design. It also subtly hints at a discussion of competitors that may come later in the analysis.
Keywords
Apple Watch, smartwatch market, target market analysis, marketing strategy, PEST analysis, SWOT analysis, wearable technology, consumer behavior, brand positioning, competitive analysis, unique selling proposition (USP), market trends, Apple Inc., iOS.
Apple Watch Target Market Analysis: Frequently Asked Questions
What is this document about?
This document is a comprehensive language preview of a market analysis report focusing on the Apple Watch. It includes a table of contents, objectives and key themes, chapter summaries, and keywords. The analysis utilizes marketing concepts and tools such as SWOT and PEST analysis to define and analyze the Apple Watch's target market.
What are the main objectives of this analysis?
The primary objectives are to define and analyze the Apple Watch's target market, apply marketing concepts and tools (SWOT and PEST analysis), explore its value proposition, assess market entry risks, and discuss potential market trends. The analysis considers both internal and external factors influencing Apple's success in the smartwatch market. Specifically, it aims to define the market position, analyze impacting factors, identify the target customer, assess the USP, and evaluate market trends and risks.
What topics are covered in each chapter?
Chapter 1 (Introduction): Sets the stage for the analysis, defining marketing and outlining objectives. It highlights Apple's aim for leadership in the smartwatch market and emphasizes the need to analyze key internal and external factors influencing the product's success. The USP formulation is noted for the conclusion section.
Chapter 2 (Company & Product Description): Provides background on Apple Inc., detailing its history, market position, product portfolio, and distribution network. It then describes the Apple Watch's features, operating system, health applications, and the three product lines (Apple Watch Sport, Apple Watch, and Apple Watch Edition) with their varying price points and target markets.
Chapter 3 (Market Definition & Positioning): Defines the Apple Watch's market position within the watch and wearable technology segments. It differentiates the Apple Watch from traditional watches and elaborates on the target customer profile (technologically advanced consumer with medium to high income, valuing brand, innovation, and design). It hints at a discussion of competitors.
Chapter 4 (External Analysis - PEST & Opportunities/Threats): This chapter would delve into a PEST analysis of the external environment impacting the Apple Watch, identifying opportunities and threats.
Chapter 5 (Internal Analysis - Strengths & Weaknesses): This chapter would conduct a SWOT analysis focusing on the internal strengths and weaknesses of Apple and the Apple Watch.
Chapter 6 (Conclusions): This chapter would summarize the findings from the PEST and SWOT analyses and formulate the Apple Watch's unique selling proposition (USP).
Chapter 7 (References): Lists the academic and professional sources used in the analysis.
Chapter 8 (Internet References): Lists the relevant online resources used in the analysis.
What are the key themes and keywords?
Key themes include market definition and positioning of the Apple Watch, analysis of internal and external factors impacting its success, identification of the target customer, assessment of its USP, and evaluation of market trends and risks. Keywords include Apple Watch, smartwatch market, target market analysis, marketing strategy, PEST analysis, SWOT analysis, wearable technology, consumer behavior, brand positioning, competitive analysis, USP, market trends, Apple Inc., and iOS.
What type of analysis is used in this report?
The report uses SWOT and PEST analyses to assess the internal and external factors influencing the Apple Watch's market success.
- Quote paper
- Santiago Mas (Author), 2016, Definition and analysis of the market for the Apple Watch, Munich, GRIN Verlag, https://www.grin.com/document/437675
