How does the market research you have so far done support your chosen organization’s objectives?

The market research done so far for the Apple Desktop Charging Mat supports Apple’s objectives by identifying customers that own multiple Qi-enabled wireless devices and their interest in purchasing a charging solution for them. Apple’s target audience are in urban areas, of all genders, between the ages of 20-45, married and unmarried, with high earnings and with professional occupations (Simplilearn, 2023). The psychographic characteristics for Apple customers are that they are “generally financially stable and are not high-risk takers” (Carmely, 2022). In addition, Apple customers are very brand loyal and appreciate the quality and security that Apple’s brand represents. Apple customers also have higher incomes ($53,251 avg. annually) so they can afford more luxurious purchases. For example, Apple customers spend “$117 a month on average a month on clothing” (Carmely, 2022).  The target market is younger (millennials) to middle aged (GenX) and the brand is most popular among females (66%) (Carmely, 2022).

What industry trends (and possible future trends) have you identified regarding your product proposal, and what are some possible implications of these trends on your organization?

While doing research on the industry for Apple Charging Devices I found that there is a product already proposed that is the same idea I had – called “AirPower”. A wireless charging pad that would work with multiple devices and charge them at the same time (Altynpara, 2022). The product was initially set to ship in 2018, but was not ever released (Mearian, 2018). The failure of Apple to release the AirPower product has had a stunting effect on the market and dampened consumer and market enthusiasm toward the adoption of wireless charging technology (Mearian, 2018).  However, the mobile device wireless charging segment is and will continue to be the largest product segment over the next five years according to an article in ComputerWorld in 2018 (Mearian, 2018). In 2017, almost 31 million wireless-charging-enabled wearable devices shipped (smartphones and smart watches were in the top three) (Mearian, 2018).

How does your proposed marketing strategy align to legal, ethical, and industry standards?

Ethical marketing requires that a company gives deliberate attention to the application of standards for fairness, otherwise known as doing the right thing morally, when making marketing decisions and implementing marketing practices (Cengage, 2023). One of the most frequently heard ethical complaints is that products or services are unsafe because of inferior quality, and that the products or services are not as advertised (Cengage, 2023). Companies that sell poor-quality or unsafe products are facing a possible loss in reputation and are potentially putting themselves at risk financially through product claims or legal action (Cengage, 2023).

What limitations have you encountered in creating a market proposal for your product? Was this due to gaps in the market research you conducted?

One limitation is publicly available information that is specific to Apple’s customers. Apple keeps this information private to protect itself from competitors.   

References

Altynpara, E. (2022, December 22). Key apple industry trends and the insights from the favourite company. Cleveroad Inc. – Web and App development company. https://www.cleveroad.com/blog/key-apple-industry-trends-and-the-insights-from-the-favourite-company/

Carmely, M. (2022, November 8). Apple target market analysis – Apple Demographics, marketing strategy & competitors. Start.io – A Mobile Marketing and Audience Platform. https://www.start.io/blog/apple-target-market-analysis-apple-demographics-marketing-strategy-competitors/#:~:text=Apple%20customer%20demographics%20include%20people,less%20older%20or%20retired%20individuals.

Cengage. (2023, June 11). .” encyclopedia of business and finance, 2nd ed.. . encyclopedia.com. 25 may. 2023 . Encyclopedia.com. https://www.encyclopedia.com/finance/finance-and-accounting-magazines/ethics-marketing

Mearian, L. (2018, November 5). Apple’s big impact on wireless charging: 6 billion+ units to ship by 2023. Computerworld. https://www.computerworld.com/article/3318678/apples-big-impact-on-wireless-charging-6-billion-units-to-ship-by-2023.html

Simplilearn. (2023, February 14). A case study on Apple Marketing Strategy: Simplilearn. Simplilearn.com. https://www.simplilearn.com/tutorials/marketing-case-studies-tutorial/apple-marketing-strategy#:~:text=Apple’s%20target%20audience%20consists%20of,high%2Dpriced%20products%20as%20Apple’s