Running head: MARKET OF APPLE IPHONE 8 1

Market of Apple IPhone 8

Student’s Name

Institution
MARKET OF APPLE IPHONE 8 2

Market of Apple IPhone 8

Introduction

The paper seeks to evaluate the market for Apple iPhone 8 which is instrumental in

promoting the long-term success of the firm. The ability to understand the target market is

critical in the formulation of the marketing process of the company. One of the most important

target group are the teenagers and college students who have a desire for advanced technological

devices. Such features are critical in improving the socializing of teenagers within the target

market (Winston & Weinstein, 2016). The iPhone 8 will offer upgrades to the existing products

by removing all weaknesses and ensuring that the customers are happy with the product. As a

result, the research work will evaluate the target market characteristics of Apple Inc and the

potential methods of conducting marketing research.

Target Market

The target market of the iPhone 8 smartphone includes the teenagers and college

university students. The teenagers are the largest target market for Apple. The teenagers rely on

the use of iPhone, as it serves a good purpose in socializing with friends, listening to music and

using social media websites (den Hartigh, Ortt, van de Kaa, & Stolwijk, 2016). The gaming apps

in the smartphone are always appealing. The company is also targeting the college and university

students to record notes. Other target market includes the business persons and young children.

Business people would benefit from Apple products due to the quality of business from

the iPhone products. Such devices are critical in promoting the efficient and communication with

clients well. The adults are an important market for the product. IPhone is highly valuable to
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address regular needs. The conveying the little gadgets usually makes adults to live simpler each

day. Finally, the company should target of technological enthusiasts and brand loyalists. The

management of Apple should be keen to ensure that the target market is set out well.

New Product

Based on the competition and market needs, the new iPhone 8 will be product that will

appeal to the customers. IPhone 8 has an advanced functionality compared to other products in

the market today. IPhone 8 will be able to integrate the aspects of wireless charging. The iPhone

8 will offer upgrades to the existing products by removing all weaknesses and ensuring that the

customers are happy with the product (den Hartigh, et al., 2016). In the current market, the

customers have increased market information and experience that indicates that the company

should come with premium products.

The strategy of Apple Inc in designing and producing iPhone 8 is to capture a larger

market share which is critical. The iPhone 8 model will be critical in integrating some of the

existing challenges, which are useful in promoting the success of Apple Inc in the markets. For

example, the young people in the markets understands and appreciates the usefulness of the

iPhone 8 products (Winston & Weinstein, 2016). Being an advanced product for the exiting

devices, it will be able to meet the needs of the target customers.

Target Market Characteristics

The target markets have different characteristics including the geographic markets,

demographic, psychographic markets, behavioral market and product related markets. Apple Inc

targets the urban areas, more so the cities and different states globally. The global expansion is
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critical in ensuring that the company is able to make increased revenues across the world which

is critical (Heracleous, 2013). The demographic market targeted by the company are the young

people and business people and individuals with high level of education and income levels. It is

clear that iPhone 8 is a premium product that cannot be afforded by low income earners. Apple

company is always targeting the high-income earners in the company.

In terms of the psychographic markets, the company is targeting persons with positive

attitudes, values, and perception on lifestyles. Such psychographic market is appropriate and

useful to the target markets. The behavioral target of Apple Inc is focused on the new customers

for occasions and customers with high level of loyalty. For example, facebook marketing

strategy has been useful in enhancing the sales among the loyal customers (Ganguly, Das & Farr,

2017). The company has discount cards designed to allow the shoppers collect points at the

stores when they shop for products. The product related market is focused on the nature of

product. Apple Inc will target the smartphone market, which has a high level of competition.

Thus, the different target market features are important in aligning the company’s marketing

campaigns to increase the overall sales while reducing the amount of competition facing he

company.

Methods of Conducting Marketing Research

Some of the recommendable methods of conducting marketing research about the IPhone

marketing is conducting market surveys. The marketing department of Apple Inc should organize

the various survey questionnaires, both online and manual surveys. However, it is important to

select a sample which is a representative of the target market. Online surveys are useful and at

times leads to the generation of unpredictable responses and often unreliable data and
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information. It is because the administrators of the surveys do not have control over the

respondents.

In spite of an online market survey is simple and inexpensive making, it is useful in the

collection of anecdotal evidence and the gathering of customer preferences and opinions. The

company should also consider mail surveys. The mail surveys have a lower responsive rate, but

they are cheaper compared to the in-person and telephone surveys (Heracleous, 2013). Therefore,

it is clear that conducting both online and in person surveys will help in getting both qualitative

and quantitative market data, which is research in making the relevant decisions.

Multi-step Product Development Process

The management of Apple Inc will need to implement the various steps of product

development. The product development process has seven important steps which are critical.

The steps are critical in the process of launching a new product in the markets. The first step is

the brainstorming of product idea. The step is important in coming up with an idea for the actual

product. The management should consult the employees and customers regularly to obtain

information about the products. Online surveys will be useful including taking notes from the

posts of social media fans.

The second step is the evaluation of the ideas. The company would develop a list of the

various potential ideas and share them the relevant decision makers within the organization. The

advantages and disadvantages of the management team will need to be assessed to come up with

proper decisions. After evaluation, conducting market evaluation is critical. Market evaluation

step will involve obtaining feedback from the customers, employees, and other stakeholders

which is highly appealing (Ganguly, et al., 2017). It is necessary to request the customers for
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feedback. The next step is conduct analysis. Conducting analysis is critical. The analysis is to be

done from a business perspective. The determination of competition is critical to evaluate the

demand for the products within the markets.

After analysis, the step appropriate is developing a prototype and marketing of the

product. Such an aspect is critical in obtaining feedback to develop marketing messages and

create marketing campaign designs including websites or posters among others. The next step is

market testing. Conducting market testing is useful in the process of making relevant adjustments

to the prototypes and the creation of new versions of the products. Additional prototypes of the

new phone needs to be products and evaluated for market testing (Sheen, 2014). The final step of

the product development process is the overall preparation for launch of the new product. The

company will need to start the production of the products and advertise to the various distributors

who will support the chain for orders to the final customers.

Conclusion

In summary, the paper is able to determine the market of Apple iPhone 8 which is one of

the most appealing product for the target customers. The teenagers rely on the use of iPhone, as it

serves a good purpose in socializing with friends, listening to music and using social media

websites. Different target market features are important in aligning the company’s marketing

campaigns to increase the overall sales while reducing the amount of competition facing he

company. Apple Inc should organize the various survey questionnaires, both online and manual

surveys. However, it is important to select a sample which is a representative of the target

market. Apple Inc will need to implement the various steps of product development. The product

development process has seven important steps which are critical. For instance, conducting
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market testing is useful in the process of making relevant adjustments to the prototypes and the

creation of new versions of the products. These steps are critical in promoting the long-term

process of developing the new products.

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References

den Hartigh, E., Ortt, J. R., van de Kaa, G., & Stolwijk, C. C. (2016). Platform control during

battles for market dominance: The case of Apple versus IBM in the early personal

computer industry. Technovation, 48, 4-12.

Ganguly, A., Das, N., & Farr, J. V. (2017). The Role of Marketing Strategies in Successful

Disruptive Technologies. International Journal of Innovation and Technology

Management, 1750016.

Heracleous, L. (2013). Quantum strategy at Apple Inc. Organizational Dynamics, 42(2), 92-99.

Sheen, A. (2014). The real product market impact of mergers. The Journal of Finance, 69(6),

2651-2688.

Winston, W., & Weinstein, A. (2016). Defining your market: winning strategies for high-tech,

industrial, and service firms. London, UK: Routledge.