Week 7 Capstone Written Assignment

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Wilmington University *

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BMK-305

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Marketing

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Feb 20, 2024

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WEEK 7 CAPSTONE PROJECT 1 Alexandra Belanger, Alicia Bruce, Diego Corona, Charles Plasse, Dominick Scioli, Kalani Waddell Wilmington University Mobile Marketing (BMK 471) Ambrose Cousin 10/15/2023

WEEK 7 CAPSTONE PROJECT 2 Two essential steps must be addressed before a marketing strategy can even be considered. A situation and competitor analysis is crucial to developing a marketing strategy. A situational analysis can be viewed as looking over a company's “situation.” Any factors contributing to a company's success or failure are factors to consider when performing a situational analysis. For Apple Inc., an internal analysis is an excellent place to start. This can start with a company overview, looking over past events, learning from any mistakes, and any decisions that had positive outcomes. The marketing team can determine if the campaign is well-timed and will succeed by looking at the company's current state. The next step in a situational analysis is to look over strengths and weaknesses. Apple Inc. has one of the most vital technological presences, allowing the benefits of being a top competitor. This, however, is also a weakness. Raising standards to their utmost potential with anything that falls short of expectations is a complete failure. The next step is to assess the marketing capabilities, particularly mobile marketing. Apple Inc. needs to determine a practical budget that will not harm the company in other areas while providing enough money to ensure the campaign does not fail. Then, a product analysis will be performed to ensure that the terms of service are met and that there are no contractual breaches. The product will be analyzed for a life cycle stage and any unique features that can be used as a selling point. Lastly, a target audience for the product will be determined. Based on what unique feature the product has will make outlining this audience easier and make the product more attractive to potential customers. The next step for a situational analysis is an external analysis. A process to cover and make every aspect that Apple Inc. cannot control a known variable that can be accounted for. Before anything else can be viewed, the market in total for the product needs to be assessed. By

WEEK 7 CAPSTONE PROJECT 3 assessing the market, Apple Inc. can decide whether or not the new product will be successful. If the market is not receptive to any new product, it is probably not a good idea to release a new product to oversaturate the market even more. A customer analysis follows; since the target audience has already been identified, it is time to research it more in-depth. Apple Inc. will have to learn the needs, preferences, and behavior patterns of the audience to attract as many people from that audience as possible. Analyzing the technological environment is a massive factor for Apple Inc. to consider due to its fast-paced innovation. If Apple were to release a product that would become obsolete shortly, it could damage its reputation or make no profit, resulting in a failed campaign. Lastly, social and cultural factors need to be assessed. Similar to the technological environment, cultural and social norms change very quickly in today's society, and staying trendy is always a significant benefit for marketing teams. Competitor analysis for Apple Inc. would consist of only the top companies in the technology field, such as Samsung and Microsoft. These companies are the best at what they specialize in, but seeing their strengths will highlight their weaknesses,which Apple Inc. can capitalize on. For example, Samsung can be viewed as a competitor because of the Galaxy Note series. The Galaxy can be noted as a device that allows much more user creativity and freedom. Since this is something that the iPhonemight lack, it is time to look at what Galaxy cannot do and capitalize on strengths that can outperform that aspect, such as AirPlay, FaceTime, drag-and- drop features, and battery health checks. Another example is Microsoft. Though the competition is more in computers than phones, Microsoft can still pose a problematic adversary in mobile marketing. Microsoft is one of the world's leading operating systems owners. This makes things more difficult for Apple Inc. because Apple Inc. either has to work with Microsoft or reinvent another system for Apple users to use. However, this can be an opportunity if looked at from the

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WEEK 7 CAPSTONE PROJECT 4 proper perspective. Some might see this as a moment where they have to reinvent the wheel. Still, a marketer considers this an opportunity to form an even stronger community that does not have to deal with third-party mediation, a direct consumer-to-company communication approach. Apple has a number of important advantages that have helped it become one of the most recognizable and valuable brands in the world. The business is well known for its powerful brand, which stands for innovation and perfection. It has continuously released ground-breaking products like the iPhone, iPad, and Macbook. The user experience across Apple's varied variety of products and services is unified by its ecosystem, which fosters customer loyalty and recurring income. A distinctive shopping experience and top-notch customer service are provided via the company's extensive global network of physical retail shops. Apple's financial health is strong; it constantly produces favorable results and keeps a sizable cash reserve. Nevertheless, Apple is not without flaws. Its products' high prices, which are frequently seen as luxury goods, might prevent them from entering markets where consumers are more sensitive to pricing. The business is vulnerable to changes in the fiercely competitive smartphone market since it depends so heavily on the iPhone for a sizable chunk of its sales and revenues. Although it has benefits, Apple's closed environment prevents the adoption of non-Apple devices and software. Furthermore, the company's large industrial operations abroad put it at risk for supply chain interruptions brought on by natural disasters or political instability. Apple has found encouraging chances within these difficulties. By utilizing its sizable user base and services like Apple Music, Apple TV+, and the App Store, the corporation may grow its services segment. With the Apple Watch and other health-related apps, Apple has also entered the healthcare technology market, opening up new opportunities. Emerging markets like India and Africa provide Apple the chance to introduce more cheap devices and increase its market

WEEK 7 CAPSTONE PROJECT 5 share. In line with Apple's stated interest in this area, the potential for electrified and driverless vehicles promises a sizable growth prospect. Apple still faces a number of threats. The tough competition from major competitors like Samsung and Google is increasing the demand for innovation and distinction across a variety of product categories. The risk of prospective legal challenges to current regulations and restrictions on significant internet firms is increased regulatory scrutiny. Apple's manufacturing and sales may be impacted by ongoing supply chain interruptions, similar to those seen during the COVID-19 outbreak. Achieving significant growth might be a difficult task in some oversaturated markets, especially those that are overrun with cell phones. Another recurrent issue is that Apple is frequently involved in legal issues involving patents and other forms of intellectual property. In conclusion, the analysis of Apple's strengths, weaknesses, opportunities, and threats offers a thorough picture of the company's position in the global and mobile technology markets, highlighting both the company's enduring success and the difficulties it faces as it pursues innovation and makes adjustments to shifting market dynamics. To begin the customer analysis phase, it was important to first understand the customer. The creation of the persona was inspired by wants, needs, and personality. The persona created for this campaign is named Victoria. She’s a 23-year-old white female who currently lives in New York City. She is someone who, like others in her target audience, already has a cell phone and likes to keep up with the latest trends. But Victoria isn’t your average American girl. She is resourceful, creative, and determined. Victoria’s personal motto is “creativity takes courage”. We went with this motto because the modern consumer of cell phones uses the devices for more than just making phone calls. They use their devices for taking pictures, creating videos or content, and even using it for digital art.

WEEK 7 CAPSTONE PROJECT 6 Victoria is a full-time waitress in New York City, but when she is not working, she likes to create art on her iPad. She is big into social media to not only keep in touch with family and friends, but to also share the art she creates. She is a full-time waitress and makes a moderate income, enough to sustain herself in the city and enough to be able to purchase all the technology that she wants. She lives in the city and rents an apartment, which she shares. Victoria is a very upbeat person who looks at life to its fullest and does not fear diving into the unknown. Victoria’s goal in life is to use her talents and find a career that involves the use of her art. Her goal when shopping for Apple products is to buy a device which will benefit and boost her talent. She is always searching for something that will help her stay organized with her personal life but also something that will help her relax and focus on her career. The iPhone is a device that she loves because of the clock and calendar feature which will allow her to set alarms that she needs and record any important dates she needs to remember. The device also takes great pictures which is a great feature for her so she can look back on the pictures for either inspiration or memories. The biggest frustration she has with the products is that they constantly release new devices every year. She likes to follow the trends and new features of the devices but having to keep up to date with every release puts pressure on her, especially because she has a fear of missing out. Victoria’s primary mobile device is her iPhone, which is usually the best and newest model that the company offers. It is how she stays connected to the world through texting and calling as well as through social media such as Twitter, Facebook, Instagram and TikTok. She also has an iPad with the Apple Pencil accessory that she uses from her creative works. She also frequently uses Microsoft products such as work and excel, as well as an app called Procreate and Photoshop. Their Apple Pencil is used for both writing and drawing on her tablet and is well loved and used.

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WEEK 7 CAPSTONE PROJECT 7 Taking into consideration Victoria’s personality and frustration towards the brand, we came up with our marketing strategy. Which needs to have factors like relevance, creativity, and price. Our persona is 23 years old and has a moderate income. First, I will explain relevance. Our persona and audience are young adults. Our advertisements must get their attention and it must be quick. According to the article “The first 8 seconds” the attention span of gen Z is about 8 seconds while millennials have a 12 second span. Our advertisements need to attract the user in about 8 seconds or less. Meaning the campaign needs to include call to actions, words, colors, and imagery which will relate closely to the viewer. The creativity aspect needs to match the views of the audience. The campaign needs to feel attract the audience in ways where it can inspire and motivate creative minds like the one Victoria has. Creativity within the campaign can form an emotional connection between the audience and the product. Making the product more meaningful and creating a strong relationship with Apple as well. And finally, price is a very important factor. Our target audience isn’t rich, they are getting by in life. And they need to find products which are reliable but fit into their economic lifestyle. The back-to-school promotion is something which benefits the audience. It’s a campaign that brings an opportunity to the working students who couldn’t regularly buy 2 apple products at full price. This promotion and campaign enable them to feel included and it also uses the FOMO tactic. Fear of missing out on a great deal and 2 great products of their choice. Apple’s marketing strategy is something to be emulated by other companies wishing to see even moderate levels of success in comparison. Apple changed the game completely when it comes to selling and marketing products and revolutionized their market space as well through their marketing strategies. One strategy they utilize is keeping things simple, especially in their advertisements. They use direct words in their advertisements, and keep their webpage very clean and simple to

WEEK 7 CAPSTONE PROJECT 8 encourage consumers to read more of their site and understand more of their advertisements. To match, their products are also sleek and clean with short names that are easy to remember and have become an integral part of many peoples vocabulary. Another interesting piece of their marketing strategy is how they present their new products. Almost all of their products get an update or new version at the same time, and are presented in a digital panel that can be viewed online, including through phones and tablets sold by Apple. This panel is highly anticipated and, in addition to also using simple words and advertising, helps consumers really feel like they understand the differences in products and what they are purchasing. Additionally, Apple also utilizes placement advertisements online and search engine optimization. These targeted ads try to pull new and returning consumers in to purchase new products. In tandem with these targeted ads are email advertisements to existing consumers to also encourage upgrades and new products. Every marketing strategy needs to have a plan for measuring the results periodically and at the end and to have a way to analyze the results once they are completed. To begin, it is important to set goals that the company wants to accomplish from the marketing campaign. For Apple, the goal is to sell the newest products, and bring attention to the company as a whole. The next step is to identify what the company’s key performance indicators or KPIs are. This is to ensure that the marketing plan is aligned, and it allows for any adjustments to be made in case something along the lines is not working. The type of KPIs that Apple would use are quantitative indicators and social media traffic. Quantitative indicators are a way to measure success by looking at the numbers, and in this case, it is looking at the number of sales of our products. Social media traffic is another way to measure, but this involves monitoring all types of social media traffic to see how successful the marketing campaign has been in gaining the

WEEK 7 CAPSTONE PROJECT 9 company's attention.This can be measured by seeing how many likes an ad has, or seeing if the ad is being talked about on social media. After this, the company will figure out how they will collect and analyze the data and how they can use it for future marketing purposes or making any changes to the current campaign using the KPIs. This can be done on a weekly or a biweekly basis for short-term changes to the plan. The review can be done by a team in the marketing department who will recommend any changes that need to be made, or if everything is good and be continued in the same manner. The marketing budget for Apple in the year 2022 was 4.7 billion dollars, so for this marketing campaign, the budget is almost endless although we would not want to use all of it for this one campaign. The campaign will be measured in years because that is typically how long Apple’s products' lifespan are. The whole year can be broken down into quarters for the different phases of a product’s marketing. The first quarter can be for preparing the measurement and analyzing plan, and the second quarter can be for planning the campaign. The third quarter is when the product is actually launched with the next quarter being post launch and the final analysis. The budget for the typical marketing campaign is around 2 million including lots of different marketing tools such as search engine optimization, email, and social media. Apple is a large multinational company, ranked number 8 on the Fortune 500 list, so considering that the budget would be set at around 20 million. References

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WEEK 7 CAPSTONE PROJECT 10 Hall, J. (2022, December 26). How to measure the success of your marketing campaigns . Forbes. https://www.forbes.com/sites/johnhall/2022/12/25/how-to-measure-the-success-of-your- marketing-campaigns/ How to measure success of a marketing campaign with metrics. (n.d.). https://www.indeed.com/career-advice/career-development/how-to-measure-success-of- marketing-campaign Perez, S. (2021, July 7). Why you need to use qualitative and quantitative Kpis to grow your business (+ examples) . BrightGauge. https://www.brightgauge.com/blog/quick-guide-to- 11-types-of-kpis The first 8 seconds – capturing the attention of gen Z students . keg_left_Sharp. (2023, September 20). https://www.keg.com/news/the-first-8-seconds-capturing-the-attention-of-gen-z- students#:~:text=Research%20conducted%20by%20Microsoft%20in,digital%20content%20and %20multiple%20screens. Boogaard, K. (2023, April 28). How to write smart goals (with examples) . Work Life by Atlassian. https://www.atlassian.com/blog/productivity/how-to-write-smart-goals#:~:text=What %20are%20SMART%20goals%3F,within%20a%20certain%20time%20frame. Evans, M. (2017, May 2). 6 steps to developing A small business marketing budget. Forbes. https://www.forbes.com/sites/allbusiness/2017/05/02/6-steps-to-developing-a-small- business-marketing-budget/?sh=4ffc5ba3355c Advertising strategy: How to build an advertising strategy - 2023 . MasterClass. (2022, June 6). https://www.masterclass.com/articles/advertising-strategies

WEEK 7 CAPSTONE PROJECT 11 Luck, C. (2017, November 21). How to advertise to the young generations. Small Business - Chron.com. https://smallbusiness.chron.com/advertise-young-generations-60676.html Sanfilippo, M. (2020, December 2). How to develop a marketing budget. Business News Daily. https://www.businessnewsdaily.com/15766-how-to-develop-a-marketing-budget.html Twin, A. (2023, March 28). The 4 Ps of Marketing and How To Use Them in Your Strategy. Investopedia. https://www.investopedia.com/terms/f/four-ps.asp

Week 7 Capstone Written Assignment

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