mkt 618 milestone one

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Apr 3, 2024

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Running Head: MILESTONE ONE 2-2 Final Project Milestone One: New Product Idea Apple Real-Time Language Translation Earbuds Jordan Sadler Southern New Hampshire University MKT 618: Marketing Analytics Professor Chellberg

Running Head: MILESTONE ONE Product Selection The new product that I have selected will come from Apple, and we will help them expand their product offerings my creating a new version of Apple AirPods that will provide real-time language translation. These new earbuds from Apple will be able to provide real-time language translation assistance to the ever-growing market of international travelers that will be traveling to destinations where different languages are spoken. With the number of international travelers in the world steadily increasing, where we saw over 1.3 billion international travelers in 2023 alone, it is important to realize that many of these travelers will be traveling to destinations where they do not speak the native language (International Tourist Arrivals Worldwide 1950- 2023, n.d.). Although many international travelers will be traveling to destinations where they do not speak the native language, there has been a recent growing interest in taking the initiative to change that. There was a study done in the United States that found that nearly half of all Americans plan or hope to learn a new language before taking an international trip in the upcoming year, and over 85% of Americans think that learning a new language could make traveling more enjoyable (Fox, 2022). These new real-time language translation earbuds from Apple will be able to assist the entire population of international travelers by bridging the gap that is caused by language barriers when traveling. This product will provide a new language- learning technique that will be beneficial to all international travelers as they interact with foreign languages during their travels. When using the real-time language translation earbuds, consumers will be able to set them up in their native language, and then select the language of the destination where they will be traveling to and then they will be ready to translate foreign language to their native language to allow for conversations without barriers.

Running Head: MILESTONE ONE Company Overview Apple Inc. is a personal-computer company that was founded in 1976 by Steve Jobs and Stephen Wozniak. The company first started because its founders had a vision of changing the way that people viewed computers, and they wanted to make computers that were small enough for people’s personal use. Simply put, they wanted to create the most user-friendly computer designed for personal use. The company and its founders quickly revolutionized the computer industry with the introduction of the Apple II computer, which was one of the first ever successfully mass-produced personal computers in the industry (Richardson, 2023) Since the introduction of the company, they have evolved to become one of the most recognizable brands in the world, who is not just a computer company, but a full-blown technology company that designs and manufactures smartphones, tablets, personal computers, and other wearable and home devices. Apple’s product portfolio includes products like the iPhone, iPad, iPod, Mac, AirPods, Apple Watch, Apple TV, and more. Outside of physical products, they also provide advertising services, payment services, cloud services, and various other consumer and professional software applications and services (GlobalData, 2022). Apple’s products are renowned worldwide for their incredible design, aesthetic, and attention to detail. The integration that they have been able to create between their hardware and software has given their systems a performance advantage over their competitors with similar products. Apple has been able to position themselves as a market leader in the industry by correctly positioning their products. Although they didn’t invent any of the products that they sell, they have produced some of the first versions of these products that were refined and well-designed for the consumer, which has led to the wide market adoption of their products (Wright, 2023).

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Running Head: MILESTONE ONE Apple’s mission statement is “to bring the best user experience to customers through innovative hardware, software, and services.”, and their vision statement is “to make the best products on earth and to leave the world better than we found it.” Apple’s mission statement is centered around delivering the best possible user experience to consumers, and we see this mission exemplified through the innovate technology and services that they provide to meet the needs of their customers. From their hardware to their software, Apple is constantly looking for ways to improve upon their existing products while creating new ones that satisfy the needs of customers. Apple’s mission and vision statement serves as the driving force behind all of the decisions made at the company (Pereira, 2023). Research Tools & Methods In order to develop these new real-time language translation earbuds, Apple will be participating in both primary and secondary research. Primary research is research that we will be conducting ourselves. This usually involves going directly to a source to ask questions and gather information. This can include things like interviews, surveys, questionnaires, and focus groups. And secondary research is research that has already been gathered and published by other parties. This can include things like reports and studies by government agencies or other businesses in the industry (The Hartford, 2019). Both forms of research will be instrumental in gathering the necessary data needed to successfully produce this new product. We will be able to use primary research strategies to gather information from consumers and get a better understanding of what is most important to them when developing this new product. Using primary research strategies, we can ask consumers what is most important to them regarding the new products design, functionality, and other features. This way, we can start creating the new product based on direct consumer feedback that is received. And we will be

Running Head: MILESTONE ONE able to use secondary research to gather important information regarding the market for this new product. Since the target market for this new product is international travelers, we will want to do further research on just how large the market for international travelers is. Having a better understanding of the target market will help us understand the potential profitability for this new product as well as where it’s most likely to be successful and well received.

Running Head: MILESTONE ONE References International tourist arrivals worldwide 1950-2023 . (n.d.). Statista. Retrieved March 11, 2024, from https://www.statista.com/statistics/209334/total-number-of-international-tourist- arrivals/#:~:text=How%20many%20people%20travel%20every%20year?%20In Fox, A. (2022, December 26). Here’s How Many Americans Hope to Learn a New Language Next Year, According to Duolingo . Travel + Leisure. https://www.travelandleisure.com/language-duolingo-data-trends- 6836112#:~:text=Cindy%20Blanco%2C%20senior%20learning%20scientist Richardson, A. (2023, April). The Founding of Apple Computer, Inc. Library of Congress. https://guides.loc.gov/this-month-in-business-history/april/apple-computer-founded GlobalData. (2022). Apple Inc - Company Profile . GlobalData. https://www.globaldata.com/company-profile/apple-inc/#:~:text=Apple%20Inc %20(Apple)%20designs%2C Wright, G. (2023, June). What is Apple? TechTarget | WhatIs. https://www.techtarget.com/whatis/definition/Apple Pereira, D. (2023, April 7). Apple Mission and Vision Statement . The Business Model Analyst. https://businessmodelanalyst.com/apple-mission-and-vision-statement/ The Hartford. (2019). Types of Market Research: Primary vs Secondary . The Hartford. https://www.thehartford.com/business-insurance/strategy/market-research/primary- second-research

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