Mkt/571: New Product Launch

New Product Launch Marketing Plan Part 1

MKT/571

New Product Launch Marketing Plan Part 1

Market needs

Domestically and internationally, the use of simple dashboard camera technology is on the rise.  In Russia, the cameras are used for self-protection against potential insurance fraud scammers and corruption by police officers.  In Europe, insurance companies provide incentives for the use of dash cams (Dash cams: Should you use one in your car?, 2013).  Apple is introducing the I-Dash as a standardized platform for the domestic and international market.  The I-Dash is not a simple dash cam although it includes all features of current dash cams.  The I-Dash is an onboard data recorder recording speed against speed limits, driving habits such as the use of turn signals, etc.  The I-Dash plugs directly into the power outlet and is portable from one vehicle to another.  It uses GPS technology and will upload data into cloud storage (anonymously – no personal data will be uploaded).  This data can be analyzed by organizations such as the National Highway Safety Administration to improve the safety of our highways.  The I-Dash also plugs straight into any PC’s USB port to analyze teenage driving habits, defense in cases involving accidents or tickets issued.  The device will sync to other devices for the sharing of data.  The use of the I-Dash will increase personal safety as well as the safety of the general driving population as a whole.  

Market growth

Apple will rely on its universal name recognition and loyal customer base to launch the product.  Following in the footsteps of other Apple products, the I-Dash will be easy to use further increasing its popularity.  The I-Dash offers features not presently included with current dash cam technology.  Once again, Apple will use innovation to differentiate the I-Dash from existing products.  The United States is behind in the use of existing technology but, with Apple’s name recognition, the I-Dash will sell well.  In international markets, where simple dash cams are already in use, the new features will attract many customers.

SWOT Analysis

        When looking to introduce a new product into the market companies should always monitor the internal and external marketing environment of which they are a part of.  According to Kotler & Keller (2012) “the overall evaluation of a company’s strengths, weakness, opportunities, and threats is called SWOT Analysis.  It’s a way of monitoring the external and internal marketing environment” (p. 49).  Apple’s strength is in its industry experience and insight that it has on the technology market.  They have creative product designers which keep customers interested in their products.  A weakness for Apple according to Market Line (2014) is that “product gaps that Apple has which prove to be competitive disadvantages for the company” (p. 10).  Apple’s opportunities are in its ability to weave their products into what is known as the Apple ecosystem.  As stated by Canada (2012) “any organization looking to keep customers within its ecosystem can learn from companies like Apple”.  This will enable them to keep customers using a variety of their products.  Threats to Apple will be in the form of competitors.  Especially companies like Samsung, and Google.  This rings true more so if Apple decides to break into an already established market.